MILITARY COMMERCIAL JOINT (MBB) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in Q3 2025 with TOI up 24% year-over-year and PBT up 12% despite higher provision expenses (+82%).

• Maintained high efficiency with ROE at 20% and ROA at 2.0%, positioning among the top in the industry.

• CASA ratio at 37% and NPL ratio controlled at 1.9% for the group, with a target to keep NPL below 2%.

Financial highlights

• TOI reached VND 48.2 trillion (+24% YoY); NII grew 23.5%, NFI surged 40.5%.

• Pre-provision profit increased by 28.1%; PBT rose 12% YoY.

• Revenue and NII growth driven by strong credit expansion and improved lending rates.

• CIR improved to 28% in Q3 2025 from 31% at end-2024.

• Total consolidated assets up 18% from end-2024; customer loans and corporate bonds up 18.5%.

Outlook and guidance

• NPL will continue to be strictly managed in 2025, targeting 1.5% for the bank and 1.7% for the group by year-end.

• CAR ratio (Cir.41) at 11.7%, supporting future capital needs and balancing profitability and risk.