Which industry groups is MSB lending to the most?

Vietnam Maritime Commercial Joint Stock Bank (MSB) has just announced its consolidated financial report for the second quarter of 2024 with customer loans increasing by 12% compared to the previous year to VND 166,389 billion.

Of which, total bad debt at the end of June 2024 was VND 5,132 billion, an increase of 20% over the previous year, mainly due to the sharp increase in bad debt (group 5 debt) increasing by 50% to nearly VND 2,708 billion.

As a result, MSB's bad debt/loan balance ratio increased from 2.87% in 2023 to 3.08%. Regarding the loan balance structure by industry, in addition to personal loans, which account for the largest proportion of 23.28%, equivalent to VND 38,728 billion.

The light industrial and consumer goods trade sector has a loan volume of nearly VND 21,356 billion, accounting for 12.83% of MSB's total outstanding loans.

Next are the Construction and Real Estate and Infrastructure sectors with loan proportions of VND 15,820 billion and VND 15,093 billion, respectively, equivalent to 9.18% and 9.07% of total outstanding bank loans. At the end of the second quarter of 2024, MSB recorded net interest income of VND 2,342 billion, up 6% over the same period.

The bank's non-interest income showed inconsistent increases and decreases, with net profit from foreign exchange trading increasing by 17% to nearly VND385 billion. Net profit from trading investment securities increased by 10% to nearly VND72 billion.

In particular, other activities brought MSB a profit 6.6 times higher than the same period last year, reaching VND746 billion. In contrast, profit from service activities decreased by 54% compared to the same period last year, to nearly VND370 billion.

Thanks to the increase in net interest income and non-interest income, although operating expenses increased by 12% to VND 1,128 billion, MSB still had a net profit from business activities of VND 2,785 billion, up 10%.

During the period, MSB's credit risk provisioning costs also increased by 25% to VND625 billion. However, the bank still reported a profit after tax of nearly VND1,730 billion, up 7% over the same period.

In the first 6 months of 2024, MSB recorded net interest income of nearly VND 4,708 billion, up 8%. The bank reported net profit after tax of nearly VND 2,934 billion, up 3% compared to the first 6 months of 2023.

As of June 30, 2024, MSB's total assets were recorded at VND 295,538 billion, an increase of 10.7% compared to the end of the previous year.

Deposits at the State Bank decreased 1.6 times to VND2,924 billion. Customer deposits increased 14.6% to VND151,743 billion.

In a recent development, MSB announced information on shareholders owning 1% or more of the charter capital. Accordingly, there are a total of 11 shareholders owning about 708.4 million shares, equivalent to 35% of the bank's charter capital.

Among them are many legal entities related to ROX Group, such as Hanoi - Dai Tu Industrial Park Infrastructure Construction and Trading Company, which is currently the largest shareholder at MSB with 99.6 million shares owned, equivalent to 4.98% of charter capital.

ROX Key Holdings currently holds 48.6 million MSB shares, equivalent to 2.43% of the bank's capital.

TNL Asset Investment and Leasing JSC is a subsidiary of ROX Living JSC with 21.6 million shares, equivalent to 1.08% of capital, and ROX Cons Construction Investment JSC owns 37.3 million shares, equivalent to 1.87% of capital, also in the ROX Group ecosystem.

Source: https://www.nguoiduatin.vn/msb-dang-cho-vay-nhieu-o-nhom-nganh-nao-204240731161755951.htm