VPB’s 4Q23

4Q23 PATMI was VND2.0 tn (-16% QoQ/-10% YoY). 2023 PATMI was VND10.1 tn (-45% YoY), fulfilling 61% of our forecast.

Consolidated credit increased by +25% YoY. Bank standalone credit growth was up by +32% YoY and deposit growth jumped by 37% YoY.

We estimate FE Credit accounts for 12% of total loans (vs 13% in 3Q23).

For the complete report, please access here: VPB_4Q23_Analyst Meeting_Key Takeaways

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