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Equity Bottom-Up

Asia Commercial Bank/Vietnam / Equity Bottom-Up

<ul><li>Projected profit growth regains double-digit momentum at a higher and more stable rate from 2026 onward.</li><li>We forecast ACB’s profit to grow by 10% in 2025F, with a compound annual growth rate (CAGR) of 19% over the period 2026F-29F.</li><li>Key drivers include: (1) A strategic expansion of growth engines targeting large corporate clients, supported by a comprehensive digital banking platform, focusing on supply chain financing for importexport activities, leveraging Vietnam’s economic strengths in trade through diverse financial solutions tailored to client development stages. </li></ul><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>

Projected profit growth regains double-digit momentum at a higher and more stable rate from 2026 onward.We forecast ACB’s profit to grow by 10% in 2025F, with a compound annual growth rate (CAGR) of 19% over the period 2026F-29F.Key drivers include: (1) A strategic expansion of growth engines targeting large corporate clients, supported by a comprehensive digital banking platform, focusing on supply chain financing for importexport activities, leveraging Vietnam’s economic strengths in trade through diverse financial solutions tailored to client development stages. 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.

ACB - Revitalizing Growth Through an Expansion of Strategic Core Pillars