How did MB, HDBank, SHB, and OCB banks do in the first half of the year?

On July 30, Military Bank (MB) announced its business results for the first 6 months of 2024 with outstanding customer loans increasing by 10.3% compared to last year, a high growth rate compared to the industry average. Group pre-tax profit reached VND 13,428 billion, up 5.4% over the same period; the bank's pre-tax profit alone reached VND 13,168 billion, up 10.2% over the same period.

Notably, MB continues to maintain a market-leading CASA (non-term deposits) ratio of about 38.83% thanks to its large customer base and digital channel transactions. This advantage helps MB save on input capital costs and significantly increase business efficiency.

In the first half of 2024, MB attracted 1.8 million new customers, bringing the total number of customers the bank is serving to 28 million. The bank's digital transformation rate reached 99.3%.

MB reported pre-tax profit of more than 13,100 billion VND

Another bank also announced its financial report for the second quarter of 2024 with semi-annual pre-tax profit of up to VND 8,165 billion, an increase of 48.9% over the same period, which is Ho Chi Minh City Development Bank ( HDBank ).

As of June 30, HDBank recorded a credit growth of 13% compared to the beginning of the year, being one of the banks with a credit growth rate much higher than the industry average.

HDBank explained that the sharp increase in pre-tax profit was due to increased operational efficiency and the application of digital transformation initiatives. Capital mobilization reached over VND552,000 billion, notably deposits from digital banking channels reached nearly VND40,000 billion, 5 times higher than the same period.

The consolidated financial report for the second quarter of 2024 of Saigon - Hanoi Bank (SHB ) recorded that in the first 6 months of the year, pre-tax profit reached VND 6,860 billion, an increase of 13% over the same period. SHB continues to be the bank with the lowest cost-to-income ratio (CIR) in the system at 22.25%, with contributions from digital transformation and automation of operational processes.

According to SHB, in the context of bad debt in the whole industry tending to increase in the first 6 months of the year, the bank is focusing on monitoring and handling bad debt. The bank has established teams from headquarters to branches and transaction offices, directly clarifying and providing appropriate solutions to recover bad debt, supporting customers to resolve and overcome difficulties.

Banks simultaneously announced business results today.

Also on the same day, Orient Commercial Bank (OCB ) announced its business results for the first 6 months of the year, recording a profit of 2,113 billion VND. This profit decreased compared to the same period last year, which was 2,560 billion VND.

While credit growth reached 6.3%, higher than the industry average, capital mobilization growth decreased slightly to approximately the end of 2023. OCB explained that the decrease in capital mobilization was due to the bank proactively balancing capital sources more appropriately...

Thanks to the digital transformation strategy, in the first 6 months of 2024, OCB OMNI digital bank had a 76% increase in the number of transactions and a 52% increase in demand deposits (CASA).

"Although net interest income increased insignificantly, OCB's scale has grown compared to the same period, because the bank proactively supported interest rates and fees through customer companion programs according to the general policy" - OCB representative said.

Source: https://nld.com.vn/loat-ngan-hang-mb-hdbank-shb-ocb-lam-an-the-nao-trong-nua-dau-nam-196240730155753042.htm