![](https://static-images.vnncdn.net/files/publish/2022/7/26/bank-profit-812.jpg)
Techcombank (TCB) on July 21 announced in H1 it had a pre-tax profit of VND14.1 trillion, an increase of 22.3 percent compared with the same period last year.
The total income in H1 increased by 16.6 percent to VND21.1 trillion thanks to strong growth in both credit and services. The income from interest reached VND15.9 trillion, an increase of 25.1 percent over the same period last year, mainly driven by credit growth with a stable net profit margin at 5.6 percent.
In the second quarter of 2022, due to interest rate fluctuations, asset yields fell by 12 percentage points and the cost of capital increased by 17 percentage points compared to the previous quarter.
Meanwhile, income from services increased by 29.5 percent compared with the same period last year to VND4.4 trillion thanks to strong growth of core services.
However, TCB shares on July 22 dropped by 30 percent from the peak of VND53,600 in February to VND37,100 per share. Like other stocks, the TCB price has been sliding since then.
VPBank has reported that it has implemented 52 percent of the yearly plan with the profit of VND15.3 trillion, a sharp increase of 70 percent compared with the same period last year.
VPBank has had the highest profit among private banks.
The income from consolidated operations reached VND31.6 trillion, up 37 percent y/y, of which the interest income increased steadily thanks to a three-fold increase in credit growth compared to the same period in 2021.
Similarly, the net income from service fees increased impressively by 34.5 percent compared to H1 2021 to VND 2,800 billion thanks to increased revenue from payment activities, insurance business, account management and card services.
VPB shares saw prices fall from VND39,200 per share in April to VND28,000, a decrease of 28 percent. VPB’s closing price on July 22 was VND28,150 per share.
As for MBBank, revenue in H1 reached VND17.8 trillion, an increase of 23 percent, and profit reached VND10.666 trillion.
In the stock market, MBB shares are traded at VND25,500 per share, down by 25 percent from its peak of VND34,400 per share in late February.
SSI Research believes that credit growth rate of the whole year of 2022 may be equal or higher than 14 percent, reflecting the impacts
of inflation. This means that the credit growth rate in H2 will be slower than in H1.
The driving force for growth in H2 will be different from that in H1, and long-term loans will be provided to infrastructure, production, education, healthcare and electricity transmission.
Ngoc Cuong