External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Vietnam International Bank / Equity Bottom-Up

Vietnam International Commercial Joint Stock Bank (HOSE: VIB)<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Vietnam International Commercial Joint Stock Bank (HOSE: VIB)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vietnam International Commercial Joint Stock Bank (VIB VN - Buy) - Update report - Undervalued

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>ROA appears to be understated dramatically, with expansion likely in coming quarters</li>
<li>Credit costs have been rising even in FY21, and this is unusual for most banks</li>
<li>Funding cost improvement can be biggest surprise, as term deposits mature</li>
</ul>


ROA appears to be understated dramatically, with expansion likely in coming quarters
Credit costs have been rising even in FY21, and this is unusual for most banks
Funding cost improvement can be biggest surprise, as term deposits mature


Thematic (Sector/Industry)

<p><strong>Another rate cut could come in handy</strong>: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central rate cuts totalling more than 150bps for all tenors.</p>

Another rate cut could come in handy: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central rate cuts totalling more than 150bps for all tenors.

Vietnam Banking Industry 2021 Outlook: Challenges Ahead

<p>As of June 30, 2021, Vietnam International Commercial Joint Stock Bank (VIB) has total assets of VND277.2tn, credit balance of VND182.9tn, and deposits from customers of VND168.1tn</p>
<div class="content-highlight">
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>
</div>

As of June 30, 2021, Vietnam International Commercial Joint Stock Bank (VIB) has total assets of VND277.2tn, credit balance of VND182.9tn, and deposits from customers of VND168.1tn

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


Vietnam International JSB: Impressive and Sustainable Growth in Terms of Size and Profit

Vietnam

Vietnam International Commercial Joint Stock Bank provides banking services. The Bank offers deposits, loans, insurance, mobile, internet, and other banking services. Vietnam International Commercial serves customers in Vietnam.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Vietnam International Bank (VIB VN)

Vietnam International Commercial Joint Stock Bank (VIB VN - Buy) - Update report - Undervalued

Vietnam International Commercial Joint Stock Bank (HOSE: VIB)

Mirae Asset Securities

HDB - ROA Expansion Can Surprise

HDB's ROA can expand dramatically in coming quarters, with lowering credit costs, lowering funding costs from maturing fixed deposits, and with...

Daniel Tabbush

Vietnam Banking Industry 2021 Outlook: Challenges Ahead

Another rate cut could come in handy: In order to mitigate the effects of the pandemic, the State Bank of Vietnam (SBV) has conducted three central...

Mirae Asset Securities

Vietnam International JSB: Impressive and Sustainable Growth in Terms of Size and Profit

Vietnam International Commercial Joint Stock Bank (VIB) has total assets of VND277.2tn, credit balance of VND182.9tn, and deposits from customers...

Mirae Asset Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)