Vietnam Export Import Bank

Vietnam Export Import Bank's price/earnings (P/E) fell 1,846% yoy to -336 in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank stock traded at VND 17,800 per share at the end fourth quarter of 2019 implying a market capitalization of USD 944...

Vietnam Export Import Bank's market capitalisation (end of period) rose 26.9% yoy to USD 944 mil in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank stock traded at VND 17,800 per share at the end of fourth quarter of 2019 implying a market capitalization of...

Vietnam Export Import Bank's npls (as % of loans) fell 7.55% yoy to 1.71% in 4Q2019

By Helgi Analytics - March 4, 2020

Vietnam Export Import Bank's non-performing loans reached 1.71% of total loans at the end of 2019-12-31, down from 1.85% compared...

Profit Statement 2017 2018 2019
Net Interest Income VND bil 2,775 3,726 3,225
Net Fee Income VND bil 331 347 384
Other Income VND bil 1,035 713 1,368
Total Revenues VND bil 4,142 4,786 4,976
Staff Cost VND bil 1,261 1,507 ...
Operating Profit VND bil 1,668 1,783 1,913
Provisions VND bil 605 724 690
Net Profit VND bil 803 655 794
Balance Sheet 2017 2018 2019
Interbank Loans VND bil 15,246 19,051 25,858
Customer Loans VND bil 100,268 102,971 112,182
Debt Securities VND bil 21,397 14,916 14,541
Total Assets VND bil 149,370 152,652 167,538
Shareholders' Equity VND bil 14,251 14,884 15,749
Interbank Borrowing VND bil 11,312 16,060 8,685
Customer Deposits VND bil 120,540 118,694 139,278
Issued Debt Securities VND bil 0 0 0
Ratios 2017 2018 2019
ROE % 5.80 4.50 5.18
ROA % 0.577 0.434 0.496
Costs (As % Of Assets) % 1.78 1.99 1.91
Costs (As % Of Income) % 59.7 62.7 61.6
Capital Adequacy Ratio % 16.0 ... ...
Net Interest Margin % 2.00 2.47 2.01
Loans (As % Of Deposits) % 83.2 86.8 80.5
NPLs (As % Of Loans) % 2.27 1.85 1.71
Provisions (As % Of NPLs) % 45.9 55.8 55.5
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil 685 744 944
Share Price (End Of Period) VND 12,650 14,050 17,800
Price/Earnings (P/E) 19.4 26.4 27.6
Price/Book Value (P/BV) 1.09 1.16 1.39
Dividend Yield % 0 0 ...
Earnings Per Share (EPS) VND 653 533 645
Book Value Per Share VND 11,592 12,106 12,810
Dividend Per Share VND 0 0 ...

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                              
Net Interest Income VND bil                 2,887 2,805 3,394 3,083 2,775    
Total Revenues VND bil                 3,433 3,453 4,075 4,120 4,142    
Operating Profit VND bil                 1,312 1,405 1,770 1,791 1,668    
Net Profit VND bil                 659 341 40.0 309 803    
balance sheet                              
Interbank Loans VND bil                 57,875 39,463 7,833 8,281 15,246    
Customer Loans VND bil                 82,643 86,124 83,890 85,825 100,268    
Debt Securities VND bil                 14,655 19,924 19,118 22,053 21,397    
Total Assets VND bil                 169,835 160,145 124,850 128,802 149,370    
Shareholders' Equity VND bil                 14,680 13,120 13,145 13,448 14,251    
Interbank Borrowing VND bil                 65,767 41,043 7,933 7,596 11,312    
Customer Deposits VND bil                 79,472 101,372 98,431 105,351 120,540    
Issued Debt Securities VND bil                 8,105 3,015 3,545 0 0    
ratios                              
ROE % ...               4.32 2.45 0.305 2.32 5.80    
ROA % ...               0.387 0.207 0.028 0.244 0.577    
Costs (As % Of Assets) % ...               1.25 1.24 1.62 1.84 1.78    
Costs (As % Of Income) %                 61.8 59.3 56.6 56.5 59.7    
Capital Adequacy Ratio % ... ... ... ... ...   ...   14.5 13.2 16.5 17.1 16.0 ... ...
Net Interest Margin % ...               1.70 1.70 2.38 2.43 2.00    
Interest Income (As % Of Revenues) %                 84.1 81.2 83.3 74.8 67.0    
Fee Income (As % Of Revenues) % ... ... ... ... ...       8.02 6.61 7.17 7.28 8.00    
Staff Cost (As % Of Total Cost) %                 44.5 46.4 49.9 50.4 51.0   ...
Equity (As % Of Assets) %                 8.64 8.19 10.5 10.4 9.54    
Loans (As % Of Deposits) %                 104 85.0 85.2 81.5 83.2    
Loans (As % Assets) %                 48.7 53.8 67.2 66.6 67.1    
NPLs (As % Of Loans) % ...               1.98 2.46 1.86 2.95 2.27    
Provisions (As % Of NPLs) % ...               43.0 47.7 55.2 41.7 45.9    
valuation                              
Market Capitalisation (End Of Period) USD mil ... ... ... ...         733 736 612 486 685    
Number Of Shares (Average) mil ... ... ... ... ... ...     1,236 1,230 1,229 1,229 1,229    
Share Price (End Of Period) VND ... ... ... ...         12,500 12,800 11,200 9,000 12,650    
Earnings Per Share (EPS) VND ... ... ... ... ... ...     533 277 33.0 251 653    
Book Value Per Share VND ... ... ... ... ... ...     11,882 10,669 10,692 10,939 11,592    
Dividend Per Share VND ... ... ...           400 0 0 0 0   ...
Price/Earnings (P/E) ... ... ... ... ... ...     23.5 46.2 339 35.9 19.4    
Price/Book Value (P/BV) ... ... ... ... ... ...     1.05 1.20 1.05 0.823 1.09    
Dividend Yield % ... ... ... ...         3.20 0 0 0 0   ...
Earnings Per Share Growth % ... ... ... ... ... ... ...   -69.2 -48.0 -88.1 661 160    
Book Value Per Share Growth % ... ... ... ... ... ... ...   -7.16 -10.2 0.211 2.31 5.97    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                              
Interest Income VND bil                 11,052 8,659 8,597 8,311 9,058    
Interest Cost VND bil                 8,166 5,854 5,203 5,228 6,283    
Net Interest Income VND bil                 2,887 2,805 3,394 3,083 2,775    
Net Fee Income VND bil ... ... ... ... ...       275 228 292 300 331    
Other Income VND bil ... ... ... ... ...       271 420 389 738 1,035    
Total Revenues VND bil                 3,433 3,453 4,075 4,120 4,142    
Staff Cost VND bil                 944 950 1,149 1,173 1,261   ...
Depreciation VND bil ... ... ... ... ... ... ... ... ... ... ... 153 125   ...
Other Cost VND bil ... ... ... ... ... ... ... ... ... ... ... 1,004 1,088   ...
Operating Cost VND bil                 2,121 2,049 2,305 2,329 2,474    
Operating Profit VND bil                 1,312 1,405 1,770 1,791 1,668    
Provisions VND bil                 300 825 1,434 1,089 605    
Extra and Other Cost VND bil                 184 226 276 311 71.0    
Pre-Tax Profit VND bil                 828 354 60.8 391 993    
Tax VND bil                 169 12.7 20.8 81.7 190    
Minorities VND bil                 0 0 0 0 0    
Net Profit VND bil                 659 341 40.0 309 803    
Dividends VND bil ... ... ...           494 0 0 0 0   ...
growth rates                              
Net Interest Income Growth % ...               -40.9 -2.83 21.0 -9.16 -9.96    
Net Fee Income Growth % ... ... ... ... ... ...     13.4 -17.0 27.9 2.67 10.5    
Total Revenue Growth % ...               -38.2 0.592 18.0 1.10 0.528    
Operating Cost Growth % ...               -7.67 -3.40 12.5 1.07 6.20    
Operating Profit Growth % ...               -59.7 7.04 26.0 1.15 -6.85    
Pre-Tax Profit Growth % ...               -71.0 -57.3 -82.8 542 154    
Net Profit Growth % ...               -69.2 -48.2 -88.3 672 160    
market share                              
Market Share in Revenues % ... ... ...           1.94 1.87 1.96 1.73 ... ... ...
Market Share in Net Profit % ... ... ...           2.19 1.99 0.128 0.750 ... ... ...
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                              
Cash VND bil                 3,739 4,877 4,757 5,785 5,559    
Interbank Loans VND bil                 57,875 39,463 7,833 8,281 15,246    
Customer Loans VND bil                 82,643 86,124 83,890 85,825 100,268    
Retail Loans VND bil ...               ... 29,373 33,204 34,967 48,587   ...
Corporate Loans VND bil ...               46,022 48,957 43,584 49,620 52,678   ...
Debt Securities VND bil                 14,655 19,924 19,118 22,053 21,397    
Fixed Assets VND bil                 849 1,030 1,105 854 3,166    
Intangible Assets VND bil                 3,472 3,259 3,636 52.2 47.9    
Goodwill VND bil ... ... ... ... ... ... ... ... 0 3,259 3,636 0 0    
Total Assets VND bil                 169,835 160,145 124,850 128,802 149,370    
Shareholders' Equity VND bil                 14,680 13,120 13,145 13,448 14,251    
Of Which Minority Interest VND bil                 0 0 0 0 0    
Liabilities VND bil                 155,155 147,026 111,705 115,353 135,118    
Interbank Borrowing VND bil                 65,767 41,043 7,933 7,596 11,312    
Customer Deposits VND bil                 79,472 101,372 98,431 105,351 120,540    
Sight Deposits VND bil ...               9,509 11,365 13,800 14,219 15,631    
Term Deposits VND bil ...               68,684 89,017 83,771 90,222 103,986    
Issued Debt Securities VND bil                 8,105 3,015 3,545 0 0    
Other Liabilities VND bil                 1,812 1,595 1,796 2,406 3,267    
asset quality                              
Non-Performing Loans VND bil ...               1,652 2,144 1,575 2,560 2,298    
Gross Loans VND bil ...               83,354 87,147 84,760 86,891 101,324    
Total Provisions VND bil ...               711 1,023 870 1,067 1,056    
growth rates                              
Customer Loan Growth % ...               11.2 4.21 -2.59 2.31 16.8    
Retail Loan Growth % ... ...             ... ... 13.0 5.31 39.0   ...
Corporate Loan Growth % ... ...             7.22 6.38 -11.0 13.8 6.16   ...
Total Asset Growth % ...               -0.188 -5.71 -22.0 3.17 16.0    
Shareholders' Equity Growth % ...               -7.16 -10.6 0.191 2.31 5.97    
Customer Deposit Growth % ...               12.8 27.6 -2.90 7.03 14.4    
market share                              
Market Share in Customer Loans %                 2.74 2.58 2.09 1.77 1.73 ... ...
Market Share in Corporate Loans % ... ... ... ... ... ... ...   1.53 1.47 1.08 1.03 ... ... ...
Market Share in Total Assets %                 3.10 2.65 1.79 1.59 1.55 ... ...
Market Share in Customer Deposits %                 2.15 2.37 1.95 1.77 1.77 ... ...
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                              
ROE % ...               4.32 2.45 0.305 2.32 5.80    
ROA % ...               0.387 0.207 0.028 0.244 0.577    
Costs (As % Of Assets) % ...               1.25 1.24 1.62 1.84 1.78    
Costs (As % Of Income) %                 61.8 59.3 56.6 56.5 59.7    
Capital Adequacy Ratio % ... ... ... ... ...   ...   14.5 13.2 16.5 17.1 16.0 ... ...
Net Interest Margin % ...               1.70 1.70 2.38 2.43 2.00    
Interest Spread % ...               1.22 1.37 2.01 1.95 1.50    
Asset Yield % ...               6.50 5.25 6.03 6.55 6.51    
Cost Of Liabilities % ...               5.28 3.87 4.02 4.61 5.02    
Payout Ratio % ... ... ...           75.0 0 0 0 0   ...
Interest Income (As % Of Revenues) %                 84.1 81.2 83.3 74.8 67.0    
Fee Income (As % Of Revenues) % ... ... ... ... ...       8.02 6.61 7.17 7.28 8.00    
Other Income (As % Of Revenues) % ... ... ... ... ...       7.90 12.2 9.55 17.9 25.0    
Cost Per Employee USD per month ...               698 650 709 750 770   ...
Cost Per Employee (Local Currency) VND per month ...               14,673,700 13,816,400 15,345,800 16,521,600 17,244,500   ...
Staff Cost (As % Of Total Cost) %                 44.5 46.4 49.9 50.4 51.0   ...
Equity (As % Of Assets) %                 8.64 8.19 10.5 10.4 9.54    
Loans (As % Of Deposits) %                 104 85.0 85.2 81.5 83.2    
Loans (As % Assets) %                 48.7 53.8 67.2 66.6 67.1    
NPLs (As % Of Loans) % ...               1.98 2.46 1.86 2.95 2.27    
Provisions (As % Of NPLs) % ...               43.0 47.7 55.2 41.7 45.9    
Provisions (As % Of Loans) % ...               0.860 1.19 1.04 1.24 1.05    
Cost of Provisions (As % Of Loans) % ...               0.383 0.978 1.69 1.28 0.650    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                              
Employees ...               5,362 5,728 6,239 5,916 6,094    
Sight (As % Of Customer Deposits) % ...               12.0 11.2 14.0 13.5 13.0    
Return on Loans % ...               0.839 0.404 0.047 0.364 0.863    
Operating Profit (As % of Loans) % ...               1.67 1.66 2.08 2.11 1.79    
Costs (As % Of Loans) % ...               2.70 2.43 2.71 2.74 2.66    
Equity (As % Of Loans) %                 17.8 15.2 15.7 15.7 14.2    

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Vietnam Export Import Bank's net profit rose 93.5% yoy to VND -16.3 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank made a net profit of VND -16.3 bil in the fourth quarter of 2019, up 93.5% when compared to the same period of last year. This implies a return on equity of -0.413%. Historically, the bank’s net profit reached an all time high of VND 1,...

Vietnam Export Import Bank's net interest margin fell 18.4% yoy to 1.96% in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank's net interest margin amounted to 1.96% in the fourth quarter of 2019, up from 1.91% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 4.16% in 4Q2011 and an all time lo...

Vietnam Export Import Bank's net interest income fell 11.2% yoy to VND 797 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank generated total banking revenues of VND 1,458 bil in the fourth quarter of 2019, up 21.4% when compared to the same period of last year and 12.9% when compared to the previous quarter. Historically, the bank’s revenues containing of...

Vietnam Export Import Bank's equity (as % of assets) fell 3.59% yoy to 9.40% in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank's Equity reached 9.40% of total assets in the 4Q2019, down from 9.75% for the previous year. As a share of net customer loans, the ratio amounted to 14.0% at the end of the fourth quarter of 2019. ...

Vietnam Export Import Bank's customer loan growth rose 232% yoy to 8.94% in 4Q2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank's customer loan growth reached 8.94% in 2019-12-31, up from 2.70% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 82.7% in 2011-03-31 and an all time low of -8.59% in 2012-09-30. ...

Vietnam Export Import Bank's net interest margin fell 18.4% yoy to 2.01% in 2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank's net interest margin amounted to 2.01% in 2019, down from 2.47% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 3.47% in 2009 and an all time low of 1.70% in 2013. The a...

Vietnam Export Import Bank's net profit rose 21.2% yoy to VND 794 bil in 2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank made a net profit of VND 794 bil in 2019, up 21.2% compared to the previous year. This implies a return on equity of 5.18%. Historically, the bank’s net profit reached an all time high of VND 3,039 bil in 2011 and an all time low of ...

Vietnam Export Import Bank's npls (as % of loans) fell 7.55% yoy to 1.71% in 2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank's non-performing loans reached 1.71% of total loans at the end of 2019, down from 1.85% compared to the previous year. Historically, the NPL ratio hit an all time high of 4.71% in 2008 and an all time low of 0.845% in 2006. Provis...

Vietnam Export Import Bank's price/earnings (P/E) rose 4.55% yoy to 27.6 in 2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank stock traded at VND 17,800 per share at the end 2019 implying a market capitalization of USD 944 mil. Since the end of 2014, the stock has appreciated by 39.1 % implying an annual average growth of 6.82 %. In absolute terms, the value of the...

Vietnam Export Import Bank's net interest income fell 13.5% yoy to VND 3,225 bil in 2019

By Helgi Analytics - March 1, 2020

Vietnam Export Import Bank generated total banking revenues of VND 4,976 bil in 2019, up 3.98% 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 6,364 bil i...

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