CAMEL_1Q23 Update

Asset quality is the key focus.

VCB and ACB remain the top two banks in our 1Q23 CAMEL framework with strong asset quality demonstrated by low NPL and high LLR ratios. VCB stands out with an LLR ratio of 321% as at 1Q23. Both ACB and VCB have zero or nearly zero exposure to corporate bonds, which helps them avoid the direct impact of corporate bond defaults.

For the complete report, please access here: Banks_CAMEL_1Q23_Updated

Analyst: Tanh Tran, tanh.tran@yuanta.com.vn