Securities companies forecast profits of major banks

In the context of a strong stock market rise, bank stocks still play a key role. NHSV Securities has announced predictions for the profits of major banks in the upcoming second quarter. Sacombank’s projected after-tax profit is expected to reach 3 trillion VND, up 38% year-on-year due to improved interest income and slight increase in operating costs. MB is expected to increase by 7% thanks to credit growth, but NIM is on a downward trend. VietinBank’s profit is forecasted to increase by 14% due to improved credit growth, with small increases in operating costs. VPBank may see a 16% growth thanks to high credit, but faces interest rate competition pressure, with higher provisioning needs amidst rising bad debts.