VCB_4Q23 Prelim results

VCB’s prelim 4Q23 PBT reached VND41.2 tn (+29% QoQ / but -6% YoY). Prelim 2023 PBT was VND41.2 tn (+10% YoY), completing 91% of our forecast. In 2024, VCB aims to achieve PBT growth of at least 10% in 2024. The bank targets asset growth of at least 8% YoY and credit growth of at least 12% YoY. This credit growth is far below the SBV’s target for the sector of 15% in 2024.

For the complete report, please access here: VCB_4Q23_Prelim Results

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