{"id":20163,"date":"2023-08-03T14:06:15","date_gmt":"2023-08-03T07:06:15","guid":{"rendered":"https:\/\/gtht.com.vn\/?post_type=research&#038;p=20163"},"modified":"2023-08-03T14:12:39","modified_gmt":"2023-08-03T07:12:39","slug":"gtjasvn_banking-sector-report_update-1h-result-_aug-2023","status":"publish","type":"research","link":"https:\/\/gtht.com.vn\/en\/research\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\/","title":{"rendered":"GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">KEY POINTS<\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Sluggish credit growth due to an unfavorable macro environment. Credit grew by 4.73% while deposits increased by more than 3% in the first half of the year.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">There have been 4 times of reducing policy rates since the beginning of the year. Lending rates decreased by 0.5%-3% while average deposit rates decreased by 1%-1.5%.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Banks\u2019 credit growth and profit are differentiated. SOBs recorded credit growth of around 5%ytd and maintained profit growth in the first half of the year. Meanwhile, joint stock commercial banks recorded differentiated credit growth. Total profit of listed banks decreased by 2%yoy.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">NIM narrows in most banks.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The NPL ratio of the whole industry continued to increase, putting pressure on provision expenses. The bad debt coverage ratio remained above 100%.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Expectations: Credit growth of the whole industry will reach 12%-13% for the whole year of 2023. Second half profit will grow by 5%-10% thanks to credit promotion and improvement in some business segments. NIM might be flat in the second half of the year.<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Investment outlook: maintaining the \u201c<strong>Neutral<\/strong>\u201d rating for the Banking Sector.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\">\u00a0<\/p>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-20163","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023 - Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtht.com.vn\/en\/research\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023 - Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\" \/>\n<meta property=\"og:description\" content=\"KEY POINTS Sluggish credit growth due to an unfavorable macro environment. Credit grew by 4.73% while deposits increased by more than 3% in the first half of the year. There have been 4 times of reducing policy rates since the beginning of the year. Lending rates decreased by 0.5%-3% while average deposit rates decreased by [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtht.com.vn\/en\/research\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-03T07:12:39+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/en\\\/research\\\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\\\/\",\"url\":\"https:\\\/\\\/gtht.com.vn\\\/en\\\/research\\\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\\\/\",\"name\":\"GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023 - Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#website\"},\"datePublished\":\"2023-08-03T07:06:15+00:00\",\"dateModified\":\"2023-08-03T07:12:39+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/gtht.com.vn\\\/en\\\/research\\\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#website\",\"url\":\"https:\\\/\\\/gtht.com.vn\\\/\",\"name\":\"Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/gtht.com.vn\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#organization\",\"name\":\"Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\",\"url\":\"https:\\\/\\\/gtht.com.vn\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/gtht.com.vn\\\/wp-content\\\/uploads\\\/2025\\\/05\\\/faviicon-1.jpg\",\"contentUrl\":\"https:\\\/\\\/gtht.com.vn\\\/wp-content\\\/uploads\\\/2025\\\/05\\\/faviicon-1.jpg\",\"width\":1067,\"height\":1067,\"caption\":\"Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)\"},\"image\":{\"@id\":\"https:\\\/\\\/gtht.com.vn\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>","yoast_head_json":{"title":"GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023 - Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtht.com.vn\/en\/research\/gtjasvn_banking-sector-report_update-1h-result-_aug-2023\/","og_locale":"en_US","og_type":"article","og_title":"GTJASVN_Banking Sector Report_Update 1H Result _Aug 2023 - Ch\u1ee9ng Kho\u00e1n Guotai Haitong (Vi\u1ec7t Nam)","og_description":"KEY POINTS Sluggish credit growth due to an unfavorable macro environment. Credit grew by 4.73% while deposits increased by more than 3% in the first half of the year. There have been 4 times of reducing policy rates since the beginning of the year. 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