TCB_2Q24 Analyst Meeting_Key Takeaways

2Q24 PATMI reached VND6.2 tn (flat QoQ/+39% YoY). The YoY increase was driven by higher net interest income and fee incomes.

Credit increased by +12.9% YTD in 2Q24, driven by corporate loans (+15% YTD), and retail loans increased by +13% YTD. Corporate bonds/assets decreased to 4.5% (-20bps QoQ/-90bps YoY).

2Q24 net interest income jumped by +12% QoQ/+51% YoY to VND9.5 tn, which was attributable to high credit growth and reduced COF at 3.2% (-20bps QoQ/-2.2ppt YoY). TCB reported NIM (LTM) of 4.3% (+20bps QoQ/ but flat YoY). Asset yields decreased by -10bps QoQ/-1ppt YoY to 7.6% in 2Q24.

For the complete report, please access here: TCB_2Q24 Analyst Meeting_Takeaways

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