MBBank

MBBank's net profit rose 35.9% yoy to VND 1,870 bil in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank made a net profit of VND 1,870 bil in the fourth quarter of 2019, up 35.9% when compared to the same period of last year. ...

MBBank's npls (as % of loans) fell 14.9% yoy to 1.13% in 4Q2019

By Helgi Analytics - March 4, 2020

MBBank's non-performing loans reached 1.13% of total loans at the end of 2019-12-31, down from 1.33% compared to the previous yea...

MBBank's net interest margin rose 3.21% yoy to 4.85% in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank's net interest margin amounted to 4.85% in the fourth quarter of 2019, up from 4.60% when compared to the previous quarte...

Profit Statement 2017 2018 2019
Net Interest Income VND bil 11,281 14,624 18,078
Net Fee Income VND bil 1,131 2,561 3,186
Other Income VND bil 4,071 6,413 6,621
Total Revenues VND bil 16,483 23,599 27,885
Staff Cost VND bil 3,204 4,968 6,064
Operating Profit VND bil 9,960 13,961 18,162
Provisions VND bil 3,252 3,035 4,891
Net Profit VND bil 3,520 6,113 7,823
Balance Sheet 2017 2018 2019
Interbank Loans VND bil 53,497 45,062 39,691
Customer Loans VND bil 182,062 211,475 247,130
Debt Securities VND bil 54,509 75,068 87,715
Total Assets VND bil 313,878 362,325 411,488
Shareholders' Equity VND bil 29,601 34,173 39,886
Interbank Borrowing VND bil 47,765 59,215 61,089
Customer Deposits VND bil 220,176 244,007 272,710
Issued Debt Securities VND bil 6,504 11,324 15,833
Ratios 2017 2018 2019
ROE % 12.5 19.2 21.1
ROA % 1.23 1.81 2.02
Costs (As % Of Assets) % 2.29 2.85 2.51
Costs (As % Of Income) % 39.6 40.8 34.9
Capital Adequacy Ratio % 12.0 ... ...
Net Interest Margin % 3.96 4.33 4.67
Loans (As % Of Deposits) % 82.7 86.7 90.6
NPLs (As % Of Loans) % 1.20 1.33 1.13
Provisions (As % Of NPLs) % 95.9 112 113
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 2,031 1,810 2,087
Share Price (End Of Period) VND 19,764 18,009 20,800
Price/Earnings (P/E) 13.0 6.88 5.78
Price/Book Value (P/BV) 1.55 1.23 1.13
Dividend Yield % 2.36 3.08 ...
Earnings Per Share (EPS) VND 1,520 2,619 3,596
Book Value Per Share VND 12,783 14,646 18,336
Dividend Per Share VND 467 556 ...

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summary Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Net Interest Income VND bil               6,186 6,611 7,410 8,081 11,281    
Total Revenues VND bil               7,915 8,757 9,756 10,613 16,483    
Operating Profit VND bil               5,139 5,643 6,307 6,296 9,960    
Net Profit VND bil               2,276 2,476 2,496 2,912 3,520    
balance sheet                            
Interbank Loans VND bil               26,787 21,415 28,659 26,953 53,497    
Customer Loans VND bil               85,973 98,106 119,372 148,687 182,062    
Debt Securities VND bil ... ...           51,327 62,608 51,771 55,095 54,509    
Total Assets VND bil               180,381 200,489 221,042 256,258 313,878    
Shareholders' Equity VND bil               15,707 17,148 23,183 26,588 29,601    
Interbank Borrowing VND bil               19,164 2,496 6,894 24,486 47,765    
Customer Deposits VND bil               136,089 167,609 181,645 194,849 220,176    
Issued Debt Securities VND bil               4,437 4,333 4,715 2,816 6,504    
ratios                            
ROE % ...             15.6 15.1 12.4 11.7 12.5    
ROA % ...             1.28 1.30 1.18 1.22 1.23    
Costs (As % Of Assets) % ...             1.56 1.64 1.64 1.81 2.29    
Costs (As % Of Income) %               35.1 35.6 35.4 40.7 39.6    
Capital Adequacy Ratio % ... ... ... ... ...     11.0 10.1 ... 12.5 12.0 ... ...
Net Interest Margin % ...             3.48 3.47 3.52 3.39 3.96    
Interest Income (As % Of Revenues) %               78.2 75.5 76.0 76.1 68.4    
Fee Income (As % Of Revenues) %               9.33 10.9 5.57 6.43 6.86    
Staff Cost (As % Of Total Cost) %               45.7 48.1 48.1 52.4 49.1    
Equity (As % Of Assets) %               8.71 8.55 10.5 10.4 9.43    
Loans (As % Of Deposits) %               63.2 58.5 65.7 76.3 82.7    
Loans (As % Assets) %               47.7 48.9 54.0 58.0 58.0    
NPLs (As % Of Loans) % ... ...           2.45 2.73 1.61 1.32 1.20    
Provisions (As % Of NPLs) % ... ...           82.5 89.7 101 103 95.9    
valuation                            
Market Capitalisation (End Of Period) USD mil ... ... ... ... ...     678 710 1,039 1,053 2,031    
Number Of Shares (Average) mil               1,595 1,692 1,859 2,291 2,316    
Share Price (End Of Period) VND ... ... ... ... ...     8,449 8,976 10,304 10,375 19,764    
Earnings Per Share (EPS) VND               1,427 1,464 1,342 1,271 1,520    
Book Value Per Share VND               9,847 10,135 12,468 11,606 12,783    
Dividend Per Share VND ... ... ...         532 480 ... 445 467   ...
Price/Earnings (P/E) ... ... ... ... ...     5.92 6.13 7.68 8.16 13.0    
Price/Book Value (P/BV) ... ... ... ... ...     0.858 0.886 0.826 0.894 1.55    
Dividend Yield % ... ... ... ... ...     6.30 5.34 ... 4.29 2.36   ...
Earnings Per Share Growth % ...             -10.7 2.57 -8.28 -5.29 19.5    
Book Value Per Share Growth % ...             4.98 2.92 23.0 -6.91 10.1    
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                            
Interest Income VND bil               13,518 13,220 13,629 15,655 19,934    
Interest Cost VND bil               7,332 6,609 6,219 7,574 8,653    
Net Interest Income VND bil               6,186 6,611 7,410 8,081 11,281    
Net Fee Income VND bil               739 950 544 683 1,131    
Other Income VND bil               989 1,196 1,802 1,849 4,071    
Total Revenues VND bil               7,915 8,757 9,756 10,613 16,483    
Staff Cost VND bil               1,268 1,497 1,660 2,262 3,204    
Depreciation VND bil ... ... ...         200 243 242 253 267    
Other Cost VND bil ... ... ...         1,308 1,374 1,547 1,802 3,052    
Operating Cost VND bil               2,776 3,114 3,449 4,317 6,523    
Operating Profit VND bil               5,139 5,643 6,307 6,296 9,960    
Provisions VND bil               1,892 2,019 2,102 2,030 3,252    
Extra and Other Cost VND bil               225 450 984 615 2,092    
Pre-Tax Profit VND bil               3,022 3,174 3,221 3,651 4,616    
Tax VND bil               736 671 709 767 1,125    
Minorities VND bil               9.75 27.0 16.1 -28.3 -29.2    
Net Profit VND bil               2,276 2,476 2,496 2,912 3,520    
Dividends VND bil ... ... ...         901 812 ... 1,028 1,089   ...
growth rates                            
Net Interest Income Growth % ...             -7.86 6.87 12.1 9.05 39.6    
Net Fee Income Growth % ...             0.826 28.6 -42.8 25.5 65.6    
Total Revenue Growth % ...             -0.659 10.6 11.4 8.79 55.3    
Operating Cost Growth % ...             2.94 12.2 10.8 25.2 51.1    
Operating Profit Growth % ...             -2.50 9.81 11.8 -0.173 58.2    
Pre-Tax Profit Growth % ...             -2.20 5.04 1.47 13.3 26.4    
Net Profit Growth % ...             -1.30 8.79 0.809 16.7 20.9    
market share                            
Market Share in Revenues % ... ...           4.48 4.74 4.69 4.45 ... ... ...
Market Share in Net Profit % ... ...           7.58 14.5 8.01 7.07 ... ... ...
Market Share in Branches % ... ... ... ... ...   ... ... ... ... ... ... ... ...
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                            
Cash VND bil               4,650 7,301 9,418 11,522 8,526    
Interbank Loans VND bil               26,787 21,415 28,659 26,953 53,497    
Customer Loans VND bil               85,973 98,106 119,372 148,687 182,062    
Retail Loans VND bil ... ... ...         12,511 20,782 31,279 45,657 60,865    
Corporate Loans VND bil ... ... ...         74,404 78,351 88,057 102,186 120,186    
Debt Securities VND bil ... ...           51,327 62,608 51,771 55,095 54,509    
Fixed Assets VND bil               1,545 1,620 1,577 2,374 2,444    
Intangible Assets VND bil ... ...           293 308 354 169 236    
Goodwill VND bil ... ... ...         0 0 0 84.8 75.4    
Total Assets VND bil               180,381 200,489 221,042 256,258 313,878    
Shareholders' Equity VND bil               15,707 17,148 23,183 26,588 29,601    
Of Which Minority Interest VND bil ...             559 587 590 1,237 1,431    
Liabilities VND bil               164,674 183,341 197,859 229,670 284,277    
Interbank Borrowing VND bil               19,164 2,496 6,894 24,486 47,765    
Customer Deposits VND bil               136,089 167,609 181,645 194,849 220,176    
Sight Deposits VND bil               39,261 37,627 56,548 66,096 66,297    
Term Deposits VND bil               73,131 99,647 106,992 118,571 132,801    
Issued Debt Securities VND bil               4,437 4,333 4,715 2,816 6,504    
Other Liabilities VND bil               4,984 8,903 4,605 7,520 9,832    
asset quality                            
Non-Performing Loans VND bil ... ...           2,146 2,745 1,950 1,987 2,218    
Gross Loans VND bil ... ...           87,743 100,569 121,349 150,738 184,188    
Total Provisions VND bil ... ...           1,770 2,463 1,976 2,050 2,126    
growth rates                            
Customer Loan Growth % ...             17.5 14.1 21.7 24.6 22.4    
Retail Loan Growth % ... ... ... ...       36.4 66.1 50.5 46.0 33.3    
Corporate Loan Growth % ... ... ... ...       17.5 5.30 12.4 16.0 17.6    
Total Asset Growth % ...             2.72 11.1 10.3 15.9 22.5    
Shareholders' Equity Growth % ...             16.1 9.18 35.2 14.7 11.3    
Customer Deposit Growth % ...             14.6 23.2 8.37 7.27 13.0    
market share                            
Market Share in Customer Loans %               2.85 2.94 2.97 3.07 3.15 ... ...
Market Share in Corporate Loans % ... ... ... ... ... ...   2.47 2.35 2.19 2.11 ... ... ...
Market Share in Total Assets %               3.30 3.32 3.17 3.15 3.25 ... ...
Market Share in Customer Deposits %               3.69 3.92 3.60 3.28 3.23 ... ...
ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                            
ROE % ...             15.6 15.1 12.4 11.7 12.5    
ROA % ...             1.28 1.30 1.18 1.22 1.23    
Costs (As % Of Assets) % ...             1.56 1.64 1.64 1.81 2.29    
Costs (As % Of Income) %               35.1 35.6 35.4 40.7 39.6    
Capital Adequacy Ratio % ... ... ... ... ...     11.0 10.1 ... 12.5 12.0 ... ...
Net Interest Margin % ...             3.48 3.47 3.52 3.39 3.96    
Interest Spread % ...             3.11 3.14 3.20 3.02 3.63    
Asset Yield % ...             7.59 6.94 6.47 6.56 6.99    
Cost Of Liabilities % ...             4.49 3.80 3.26 3.54 3.37    
Payout Ratio % ... ... ...         39.6 32.8 ... 35.3 30.9   ...
Interest Income (As % Of Revenues) %               78.2 75.5 76.0 76.1 68.4    
Fee Income (As % Of Revenues) %               9.33 10.9 5.57 6.43 6.86    
Other Income (As % Of Revenues) %               12.5 13.7 18.5 17.4 24.7    
Cost Per Employee USD per month ... ... ...         820 846 819 803 910    
Cost Per Employee (Local Currency) VND per month ... ... ...         17,236,500 17,973,000 17,713,900 17,687,800 20,388,300    
Staff Cost (As % Of Total Cost) %               45.7 48.1 48.1 52.4 49.1    
Equity (As % Of Assets) %               8.71 8.55 10.5 10.4 9.43    
Loans (As % Of Deposits) %               63.2 58.5 65.7 76.3 82.7    
Loans (As % Assets) %               47.7 48.9 54.0 58.0 58.0    
NPLs (As % Of Loans) % ... ...           2.45 2.73 1.61 1.32 1.20    
Provisions (As % Of NPLs) % ... ...           82.5 89.7 101 103 95.9    
Provisions (As % Of Loans) % ... ...           2.06 2.51 1.66 1.38 1.17    
Cost of Provisions (As % Of Loans) % ...             2.38 2.19 1.93 1.51 1.97    
other data Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                            
Branches ... ... ... ... ...   ... ... ... ... 268 286 ... ...
Employees ... ... ...         6,128 6,939 7,810 10,656 13,094    
Sight (As % Of Customer Deposits) %               28.8 22.4 31.1 33.9 30.1    
Return on Loans % ...             2.86 2.69 2.30 2.17 2.13    
Operating Profit (As % of Loans) % ...             6.46 6.13 5.80 4.70 6.02    
Costs (As % Of Loans) % ...             3.49 3.38 3.17 3.22 3.94    
Equity (As % Of Loans) %               18.3 17.5 19.4 17.9 16.3    

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MBBank's market capitalisation (end of period) rose 15.3% yoy to USD 2,087 mil in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank stock traded at VND 20,800 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 2,087 mil. Over the last five years, the stock has appreciated by 132 implying an annual average growth of 18.3% In absolute terms, th...

MBBank's net interest income rose 18.2% yoy to VND 4,908 bil in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank generated total banking revenues of VND 7,839 bil in the fourth quarter of 2019, down 2.49% when compared to the same period of last year and up 6.7% when compared to the previous quarter. Historically, the bank’s revenues containing of int...

MBBank's price/earnings (P/E) fell 15.7% yoy to 6.44 in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank stock traded at VND 20,800 per share at the end fourth quarter of 2019 implying a market capitalization of USD 2,087 mil. Since the end of 4Q2014, the stock has appreciated by 132 % implying an annual average growth of 18.3 %. In absolute terms, the value of th...

MBBank's equity (as % of assets) rose 2.77% yoy to 9.69% in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank's Equity reached 9.69% of total assets in the 4Q2019, up from 9.43% for the previous year. As a share of net customer loans, the ratio amounted to 16.1% at the end of the fourth quarter of 2019. ...

MBBank's customer loan growth rose 4.36% yoy to 16.9% in 4Q2019

By Helgi Analytics - March 1, 2020

MBBank's customer loan growth reached 16.9% in 2019-12-31, up from 16.2% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 28.1% in 2018-03-31 and an all time low of 13.8% in 2015-03-31. In the last decade, t...

MBBank's net profit rose 28.0% yoy to VND 7,823 bil in 2019

By Helgi Analytics - March 1, 2020

MBBank made a net profit of VND 7,823 bil under revenues of VND 27,885 bil in 2019, up 28.0% and 18.2% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of VND 7,823 bil in 2019 and an all time low of VND 219 bil...

MBBank's net interest margin rose 8.03% yoy to 4.67% in 2019

By Helgi Analytics - March 1, 2020

MBBank's net interest margin amounted to 4.67% in 2019, up from 4.33% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.67% in 2019 and an all time low of 3.09% in 2007. The average margin in the l...

MBBank's npls (as % of loans) fell 14.9% yoy to 1.13% in 2019

By Helgi Analytics - March 1, 2020

MBBank's non-performing loans reached 1.13% of total loans at the end of 2019, down from 1.33% compared to the previous year. Historically, the NPL ratio hit an all time high of 2.73% in 2014 and an all time low of 1.13% in 2019. Provision coverage amounted...

MBBank's net interest income rose 23.6% yoy to VND 18,078 bil in 2019

By Helgi Analytics - March 1, 2020

MBBank generated total banking revenues of VND 27,885 bil in 2019, up 18.2% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of VND 27,885 bil in 2019 and an all ...

MBBank's price/earnings (P/E) fell 15.9% yoy to 5.78 in 2019

By Helgi Analytics - March 1, 2020

MBBank stock traded at VND 20,800 per share at the end 2019 implying a market capitalization of USD 2,087 mil. Since the end of 2014, the stock has appreciated by 132 % implying an annual average growth of 18.3 %. In absolute terms, the value of the company rose ...

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