MBB: Parent Bank’s After-tax Profit Jumps 30% YoY, Outstanding Loans Rise 11.2% for 9M/2019

MBB has released its separate financial statements for 9 months of 2019 with the following main points:

• Profit after tax reached VND 5,748 billion, up 30% YoY.
• Net interest income reached VND 10,741 billion, up 14.6% YoY.
• Income from services reached VND 1,204 billion, up 8.2% YoY.
• Outstanding loans reached VND 230.1 trillion, up 11.2%, higher than level 8.4% of the whole industry.
• Personal loans grew by 17.8% to 38.6% compared to 36.5% at the end of 2018 while loans to economic organizations decreased to 60% from 61.7%.
• Debts in Group 3-5 accounted for 1.35%, up from 1.22% at the end of 2019.
• According to the separate financial report for Q3/2018, MBB recorded an after-tax profit of VND 2,272 billion, up 41.3% YoY.

Net interest income rose 16.3% to VND3,734 billion, while service income jumped 37.6% to VND368 billion. Profit from other activities soared nearly 1.5 times to VND887 billion, and long-term capital contribution changed from minus VND48 billion last year to VND161 billion this year.

Total operating income in Q3 rose 41.1% to VND5,578 billion, while operating expenses increased 42% to VND 1,968 billion. The bank made provisions of VND830 billion in the period, up 46%.

In the first 9 months, the bank's after-tax profit was VND5,718 billion, up 30% YoY. Total assets were at VND385,516 billion, up by 9.4% from the end of 2018. Customer deposits reached VND255,627 billion, up 6.2%.

Outstanding loans increased by 11.2% to nearly VND230,143 billion. NPL ratio of the parent bank stood at 1.35%, up from 1.22% at the end of the previous year, mainly due to the increase in Group 5 debts by 40,3% to VND1,345 billion.

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