Vietcap Securities Joint Stock Company · HOSE:VCI
Vietcap Securities Joint Stock — MB Bank — Investor Presentation (February 2024)
14 slides from Vietcap Securities Joint Stock's investor presentation, February 2024
Slide 1: Key Highlights 2023 and Development Directions
KEY HIGHLIGHTS 2023 AND DEVELOPMENT DIRECTIONS MB Bank February, 2024 Document is prepared by MBGroup
Slide 2: Contents
CONTENTS 1. MB brief introduction 2 2. MB key performance highlights 2023 3 3. Digital transformation 6 4. Peer benchmarking 11 5 Share price performance and evaluation 13 1
Slide 3: Brief introduction: Shareholder and group structure
Brief introduction: Shareholder and group structure Viettel Others 18,5% 28,7% Unit: Bil USD 9,4% SCIC Key financial ratios 2023 # Ranking 8,6% Total assets 38.6 4 4,4% Vietnam Helicopter Corp 23,2% 7,2% Owner's equity 3.9 6 Foreign investors Saigon New Port Corp VCB Revenue 1.9 5 100% 90.8% Profit
Slide 4: Brief introduction: Milestones, Awards and Ratings
Brief introduction: Milestones, Awards and Ratings Key milestones 1994 2010 2011 2016 2019 2020 2022 2023 •Establisting •Opening •Listing in •Launching •Rebranding •Top •Serving 20 •Serving 26 on Nov 4 first HOSE MB Ageas •Reaching 10 download millions millions 1994 overseas •Opening first Life and
Slide 5: MB key performance highlights in 2023: sound growth momentum
MB key performance highlights in 2023: sound growth momentum Financial Ratio ➢ TOI of Group reaches 47.3 trillion, increases by 4% compared to 2022, bank only increases Asset TOI PBT (VND trillion) (VND trillion) (VND trillion) 9%. +30% +4% 14% ➢ Credit quality control, NPL of the Group 1.6% and 1.4
Slide 6: MB performance highlights 2023 (bank only)
MB performance highlights 2023 (bank only) Total Operating Income Profit before Tax NFI TOI & PBT +21% +9% +56% +22% +41% -14% 35,923 39,073 2,560 29,583 20,318 24,688 1,900 1,639 14,398 2021 2022 2023 2021 2022 2023 2021 2022 2023 Total Assets Loan + Corporate bond Deposit +31% +28% +28% ASSETS +20
Slide 7: Strong and sustainable growth
Strong and sustainable growth Total Assets Total operating income Profit before tax (Trillion VND) (Trillion VND) (Trillion VND) 945 +22,7% 46 47 26,3 +20,2% +33,7% 22,7 729 37 607 16,5 27 495 25 411 20 10,7 362 10,0 314 14 7,8 4,6 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 202
Slide 8: Strong expansion of retail loan book and sustainable growth of CASA
Strong expansion of retail loan book and sustainable growth of CASA Retail loan book (trillion VND) CASA (trillion VND) NIM (%) +17,3% 7,5 228 276 +28,9% 188 180 221 5,2 4,9 167 127 4,0 131 101 105 3,3 3,1 2,9 101 87 2,7 81 60 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 VPB
Slide 9: Strong capital adequacy
Strong capital adequacy Owner’s Equity (Trillion VND) CAR (%) Equity Chartered Equity 169 12,0 10,9 10,4 11,3 11,5 10,7 ▪ Equity no 6, but PBT 10,1 128 123 no 3. 113 104 97 71 ▪ Higher CAR than the 39 56 54 57 67 sector average with 35 52 39 19 a buffer of >2%. VCB CTG BID TCB VPB MBB ACB STB 2017 2
Slide 10: MBBank App is leading the market in growth of users and transaction capacity
MBBank App is leading the market in growth of users and transaction capacity Number of app users has increased nearly 39 Transaction capacity through digital channels times within 3 years is equivalent to Top Asian Banks 24 97% transactions made via digital/app channels 20 +39 times 16 Number of Tra
Slide 11: MBB Share Price Performance
MBB Share Price Performance Share price compared to industry (01/2017- 2/2024) Ticker: MBB VN Foreign Owned: 23.2% Price: VND 23,050 (06/02/2024) Foreign Room: 0% (full room) No of shares outstanding: 5,214 million Market Cap: 4.6 billion USD Source: HOSE and calculated by MB Chief Economist Office
Slide 12: MBB Share Price Performance: P/B and ROE regression
MBB Share Price Performance MBB has an attractive valuation compared to its competitors when P/B is only 1.3 while the industry average is 1.7 Regression analysis: P/B and ROE (07/02/2024) P/B 4,0 3,5 3,0 VCB y = 0.06x + 0.5 2,5 BIDV R² = 87% 2,0 ACB 1,5 CTG VPB MBB 1,0 TCB STB 0,5 0,0 ROE (%) 0 6 1
Slide 13: Vietnam banking trading comparable
Vietnam banking trading comparable Even though, MB is trading at P/B and P/E below the average and median of its peers, the share price return for investors in the last 7 years reaches 404%, ranking the top of the group and 6 times higher than Vnindex performance in the same period. Market Share Cap
Slide 14: Thank you
THANK YOU MB R&D