Analysis Reports

On April 29, 2026, the State Bank of Vietnam (SBV) sought feedback from banks regarding amendments to Circular 22/2019, which regulates prudential ratios and safety limits in banking operations. Overall, we believe the replacement of the LDR ratio with...

1Q2026 revenue and NPAT were flat, while NPATMI dropped 37% YoY due to an increase in minority interests. Sales performance remained positive despite the high-interest-rate environment. We revised our 2026 revenue forecast up by 10% and NPATMI up by...

NT2 reported Q1/2026 result with VND2,172 bn in revenue, +52% YoY, and VND180 bn in NPAT, nearly five times YoY. This performance fulfilled 33% of the company’s current plan and 25% of ACBS’s forecast for 2026. The strong results...

April 2026 macroeconomic data indicates sustained baseline expansion, underpinned by steady industrial production, solid FDI disbursement, inbound international arrivals, and accelerated public investment. However, structural divergence is increasingly apparent. Relative to March, several constraints have materialized: headline inflation now...

QTP reported its Q1/2026, with VND2,734 bn in revenue, -4% YoY, VND197 bn in NPAT, +14% YoY. On Apr 22nd, 2026, QTP successfully held its AGM and approved a revised 2026 plan, which is lower than the company’s initial...

The company recorded growth of 29.5% YoY in net revenue and 76% YoY in EAT in 1Q2026, predominantly driven by Long Chau’s solid performance. We maintain our projection of VND1,394bn (+41.7% YoY) in EAT for 2026 and target price...