HCMC – LPBank reported an 11% rise in lending in the first half of the year but its pre-tax profit increased just 4% year-on-year to VND6.16 trillion.
The bank’s core lending income rose slightly, with net interest income up 3% at VND3.73 trillion, while total operating income grew 2% to VND4.9 trillion.
Non-interest income showed mixed results. Income from services fell 2% to VND852 billion, while other operating income dropped 34% to VND163 billion. The bank reported no profit from securities trading.
Foreign exchange trading surged 56% to VND69 billion. Earnings from equity investments more than doubled to VND30 billion.
Operating expenses rose 17% to nearly VND1.5 trillion, cutting net operating profit by 4% to VND3.45 trillion. Credit risk provisioning declined 17% to VND462 billion, keeping second-quarter pre-tax profit flat at around VND3 trillion.
The bank achieved 41% of its full-year profit target of VND14.87 trillion. Total assets reached nearly VND514 trillion in late June, up 1% from the start of the year. Lending to customers rose to VND369 trillion, while deposits grew to VND313 trillion.
Closing the trading session today, July 21, its LPB shares on the Hochiminh Stock Exchange edged up 2.6% to VND35,500, with trading volume of over 4.4 million shares.
Vietnam’s benchmark VN-Index fell 0.82% on Monday, pressured by declines in Vingroup-related stocks and losses in the real estate sector.
The index closed down 12.23 points at 1,485.05 points. Decliners outnumbered gainers by 203 to 118 on the southern exchange. Total trading volume reached 1.47 billion shares worth VND35.4 trillion, slightly lower than in the previous session.
Vingroup’s VIC dropped 5.9% to VND112,000, while VHM dipped 4.2% to VND92,000. The two stocks accounted for nearly 10 points of the VN-Index’s loss.
Other large-cap stocks also declined. TCB fell 2.2%, MSN lost 2%, while VRE, SSI, VCB, BVH, MWG, and STB all dropped over 1%.
The VN30-Index, which tracks the 30 largest-cap stocks, shed 15.85 points, or 0.96%, to 1,628.06 points. There were 12 advancers and 17 decliners on the VN30 basket.
Lender VPB gained 4.4% to VND22,300 on strong domestic and foreign demand. The stock saw 72.6 million shares traded, with net foreign buying of 7.6 million shares. It was the second most actively traded stock on the market.
SHB took the lead by liquidity, with nearly 102 million shares changing hands. It rose 2.82% to VND14,600.
Meanwhile, real estate stocks performed poorly, with many tickers falling sharply. Securities stocks declined slightly. VIX gained 2.4% with 71 million shares traded. SSI dropped 1.4% with 55 million shares exchanged.
Steel stocks performed well, with HPG rising 1.2% to VND26,200 on volume of 55.8 million shares.
On the Hanoi Stock Exchange, the HNX-Index lost 1.98 points, or 0.8%, to close at 245.79 points, with 104 stocks advancing and 79 others dipping. Trading volume on the northern market reached 171 million shares worth a total of VND2.96 trillion.
