Three months of profit of 11,000 billion dong, big man NH heats up the race for the top 1

According to sources, the consolidated profit before tax in the first quarter of this year of VPBank has a very high growth rate and can reach more than 11,000 billion dong. This profit comes from core business and extraordinary income.

With the results of the first quarter as above, it is forecasted that in 2022 VPBank will most likely have a leap and reach a profit record.

Before that, the Company Stock MB has forecast that VPBank will have a breakthrough year in terms of profit growth. According to MBS, VPBank’s profitability can come from 3 factors: credit growth; Low costs with the lowest cost to income ratio in the industry and non-interest income will contribute to growth thanks to bancassurance contracts and profits from subsidiaries.

This seems to have been predicted when the CEO of this bank in a recent exchange affirmed that it will create new growth drivers in terms of profit, equity size and customer size in the year. now on

In early March 2022, VPBank extended the exclusive insurance distribution cooperation agreement with AIA from 15 years as originally planned to 19 years. Many experts predict VPBank will be able to reap a significant financial return from this agreement, along with other benefits in the future.

Earlier this year, VPBank also acquired a 97% stake in ASC Securities Company and changed its name to VPBank Securities, marking the bank’s return to the field of providing securities market-related services.

By the end of 2021, VPBank is one of the banks with equity in the top group of the system, reaching more than 86,000 billion VND. The increase in equity has significantly improved capital adequacy and strengthened VPBank’s solid foundation.

Many banking stocks gained impressively, opposite to the stock market.

According to SSI Research, it is estimated that the profit of listed banks will increase by 9-11% in the first quarter and the whole year may increase by over 25%. While VietinBank and Vietcombank recorded lower profits from a high base in the same period last year, other listed banks can achieve much higher profit growth.

The highest profit growth is expected at VPBank, Sacombank, SHB… SSI Research also expects that VPB has renewed the exclusive cooperation agreement on insurance distribution with AIA. Profit growth in the first quarter is also attributed to high credit to net profit margin (NIM) which is forecasted to be stable.

Recently, the race for the top 1 in terms of profit of the banking group is more exciting than ever when Vietcombank no longer monopolizes the billion-dollar profit position. VPBank in 2021 rose to the top with 14,580 billion dong in profit. Techcombank also recorded a billion USD profit.

MBBank (MBB) has also shown its ambition to triple the current profit to 45 trillion dong by 2026.

In the trading session of April 1, banking stocks were in the green, in which HDBank and VPBank gained the most with explosive liquidity. A total of 24 bank codes increased in price.

Recently, many banking stocks gained strongly. VIBBank recorded the 3rd consecutive increase. Previously, KLB’s stock gained strongly and was one of the stocks that overcame difficulties in the market. In March, KLB increased by 45%.

VPBank is a bank stock with an impressive increase, from 33,000 VND to nearly 39,000 VND/share in less than 3 months. Not only did the price increase sharply, but VPB was also bought by investors with a series of large collection orders, bringing the trading volume of the 1st session to nearly 37 million units.

Banking stocks are considered to be the driving force pulling the general stock market up. Many evaluated stocks still have good space and attractive prices, which can be a support for the market in the near future.

PYN Elite Fund believes that the prospect of Vietnamese securities is positive. Vietnam has room to loosen monetary policy if necessary or at least maintain a neutral policy, as Vietnam has not had to apply a tight monetary policy in recent years.

The VN-Index is at 1,480 points and a representative of PYN Elite Fund said that there is no reason to adjust the long-term target of 2,500 points.

PYN Elite Fund predicts the profit growth of listed companies in 2022 at about 25%. The VN-Index’s forward P/E in 2022 is at 13.3 times, a signal that the Vietnamese stock market will be boosted this year.

Closing the session of April 1, the VN-Index increased by 24,298 points to 1,516.44 points. HNX-Index increased 4.48 points to 454.1 points. Upcom-Index increased 0.15 points to 117.19 points. Liquidity reached 31.6 trillion dong, of which 26.7 trillion dong was on HOSE.

V. Ha