Which sectors is MSB lending to the most?

Vietnam Maritime Commercial Bank (MSB) has just announced its consolidated financial report for the second quarter of 2024, showing a 12% increase in customer loans compared to the previous year, reaching VND 166,389 billion.

Specifically, the total non-performing loans at the end of June 2024 amounted to VND 5,132 billion, a 20% increase compared to the previous year, mainly due to a sharp increase in loans with a high risk of default (Group 5 loans), which rose by 50% to nearly VND 2,708 billion.

Consequently, MSB's non-performing loan ratio increased from 2.87% in 2023 to 3.08%. Regarding the structure of outstanding loans by sector, besides personal loans which account for the largest proportion at 23.28%, equivalent to VND 38,728 billion.

The light industrial and consumer goods sector received nearly VND 21,356 billion in loans, accounting for 12.83% of MSB's total outstanding loans.

Next is the Construction and Real Estate Business/Infrastructure sector, with loan proportions of VND 15,820 billion and VND 15,093 billion respectively, equivalent to 9.18% and 9.07% of the bank's total outstanding loans. At the end of Q2/2024, MSB recorded net interest income of VND 2,342 billion, an increase of 6% compared to the same period.

The bank's non-interest income showed inconsistent growth, with net profit from foreign exchange trading increasing by 17% to nearly VND 385 billion. Net profit from the sale of investment securities increased by 10% to nearly VND 72 billion.

In particular, other activities brought MSB a profit 6.6 times higher than the same period last year, reaching VND 746 billion. Conversely, profit from service activities decreased by 54% compared to the same period last year, to nearly VND 370 billion.

Thanks to increases in net interest income and other non-interest income, despite a 12% increase in operating expenses to VND 1,128 billion, MSB still recorded a net profit from business operations of VND 2,785 billion, a 10% increase.

During the period, MSB's credit risk provisioning costs also increased by 25% to VND 625 billion. However, the bank still reported a net profit after tax of nearly VND 1,730 billion, up 7% compared to the same period last year.

For the first six months of 2024, MSB recorded net interest income of nearly VND 4,708 billion, an increase of 8%. The bank reported net profit after tax of nearly VND 2,934 billion, an increase of 3% compared to the first six 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 of Vietnam decreased by 1.6 times to VND 2,924 billion. Customer deposits increased by 14.6% to VND 151,743 billion.

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

These include several legal entities related to ROX Group, such as Hanoi Industrial Park Infrastructure Construction and Business Company - Dai Tu, which is currently the largest shareholder in MSB with 99.6 million shares, equivalent to 4.98% of the charter capital.

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

TNL Investment and Asset Leasing Joint Stock Company, a subsidiary of ROX Living Joint Stock Company, holds 21.6 million shares, equivalent to 1.08% of the capital, and ROX Cons Construction Investment Joint Stock Company owns 37.3 million shares, equivalent to 1.87% of the capital, both within the ROX Group ecosystem.

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