MILITARY COMMERCIAL JOINT (MBB) Q1 2025 earnings summary

Executive summary

• Net profit after tax for Q1 2025 reached VND 6,134 billion, up 46.15% year-over-year, driven by strong net interest income and fee growth.

• Total assets as of 31 March 2025 were VND 1,095,813 billion, up from VND 1,067,158 billion at year-end 2024.

• Customer deposits increased to VND 723,206 billion, and loans to customers rose to VND 754,127 billion.

• Charter capital increased to VND 61,023 billion after a new share issuance.

• The bank maintained a strong liquidity position and expanded its branch network to 110 branches and 210 transaction offices.

Financial highlights

• Net interest income for Q1 2025 was VND 9,852 billion, up from VND 7,376 billion year-over-year.

• Net fee and commission income reached VND 747 billion, up from VND 656 billion year-over-year.

• Profit before tax was VND 7,689 billion, up from VND 5,258 billion year-over-year.

• Provision expenses for credit losses were VND 2,017 billion, slightly up from VND 1,982 billion year-over-year.

• Total operating income for Q1 2025 was VND 12,736 billion, up from VND 9,876 billion year-over-year.

Outlook and guidance

• The bank continues to focus on expanding its diversified financial services and risk management capabilities.

• Ongoing investments in technology and branch expansion are expected to support future growth.

• Management emphasizes maintaining strong liquidity and capital adequacy ratios.