MB continues to lead the market in CASA in the first 6 months of the year

Military Commercial Joint Stock Bank (MB) has announced its business results for the first 6 months of 2024, recording that the CASA growth rate continues to lead the market. The report shows that at the end of the first 6 months of 2024, the entire MB Group (MBGroup) recorded a growth in total assets of nearly 5% compared to 2023, reaching VND 988,605 billion. Outstanding customer loans grew by 10.3% compared to 2023, 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 in 2023; pre-tax profit of the bank alone reached VND 13,168 billion, up 10.2% over the same period in 2023. MB 's efficiency and safety indicators remained stable with ROA reaching ~2.33%; ROE reaching ~23.17%.

The group's bad debt ratio is controlled at 1.64%, the bank alone reaches 1.43%. Notably, this bank continues to maintain a market-leading CASA (non-term deposits) ratio of ~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. The bank's CIR is approximately 27.40%, effective cost management; saving on capital mobilization costs COF ~3.22%. Sticking to the target of 30 million customers and with a standard information technology platform, in the first 6 months of 2024, MB attracted 1.8 million new customers, bringing the total number of customers the Bank is serving to 28 million customers. Comprehensive digital transformation meets ~1.6 billion financial transactions on digital channels (1.7 times higher than the same period in 2023), digital conversion rate reaches 99.3%; MB's money transfer transaction scale via NAPAS ranks first in the system for 3 consecutive years (2021 - 2023). Continuing to adhere to the strategy for the period 2022-2026, MB is determined to conquer 30 million customers to celebrate the bank's 30th birthday (November 4, 1994 - November 4, 2024).

MB is determined to achieve the goal of digital transformation to become a "Digital Enterprise, Leading Financial Group", prioritizing the development of sustainable development goals, strengthening the quality of all aspects of operations, focusing on building a Digital Enterprise Culture, thoroughly and creatively applying effective working methods. At the same time, positioning MB in the Top 3 in terms of efficiency and safety indicators, and striving for scale and pre-tax profit indicators to be higher than the industry average.

Some of MB's highlights in the first 6 months of 2024 Successfully organized the General Meeting of Shareholders for the 2024-2029 term, completed the new senior personnel for the 2024-2029 term with 11 members of the Board of Directors (including 1 independent member), and 5 members of the Supervisory Board. Digital transformation: For the first time, the MasterCard Hi Cashback card line was launched, allowing customers to choose flexible cashback areas and manage the expected cashback cash flow immediately after the transaction. Continuing to maintain MB's position and reputation both domestically and internationally: Recognizing the achievements in the first 6 months of 2024, MB received many prestigious awards at home and abroad such as: "Top 50 Best Enterprises in Vietnam in 2024 (VNR500)", "Top 10 Prestigious Commercial Banks in Vietnam", "Top 10 Innovative, Creative and Effective Enterprises", "Innovative and Creative Products in the Banking Industry" award, along with a number of international awards: "Top 300 Most Valuable Banking Brands in the World ", "TAB - The Best Derivatives Provider" (Best Financial Derivatives Provider in Vietnam) and "TAB - Best FX Bank in Vietnam" (Best Foreign Exchange Bank in Vietnam) awarded by Asian Banker.

Source: https://daibieunhandan.vn/kinh-te-xa-hoi/mb-tiep-tuc-dan-dau-thi-truong-ve-casa-trong-6-thang-dau-nam--i382612/