Banking Sector - 2Q26 Update and Outlook - Let Execution Compound
System-wide credit growth accelerated in 2Q26, although growth was highly differentiated across banks. By end-1H26, system-wide credit grew 8.37%...
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Sacombank JSCB (STB VN) - Provisioning Pressure Masks Franchise Strength
3Q25 NIM was inflated by a one-off Phong Phu accrued interest recovery; underlying 2H25 run-rate was 3.0–3.1%. CASA fell to 15.3% (-3ppt YoY); its...
116 Views
Stock recommendations (Vietnam Market)_Sep 2026
Customer loans increased by 4.8% YTD, trailing total-asset growth of 8.8%, as interbank balances rose 18.9% and deposits at the SBV surged 95.1%.
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STB [OUTPERFORM +13.1%] - Short-Term Restructuring Pain; Major One-Off Gain in 2027F - Update
We decrease our target price (TP) for STB by 11.2% to VND55,400/share and maintain our OUTPERFORM rating as STB’s share price has decreased 19.6%...
239 Views
STB [OUTPERFORM +13.1%] - Short-Term Restructuring Pain; Major One-Off Gain in 2027F
We decrease our target price (TP) for STB by 11.2% to VND55,400/share and maintain our OUTPERFORM rating as STB’s share price has decreased 19.6%...
236 Views