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Vietnam International Bank (HOSE: VIB) reported consolidated Q1 2026 pretax profit of nearly 2.803 trillion VND, up 16% year on year, even as the bank sharply increased credit risk provisions.
In the first quarter, VIB’s net interest income increased 8% year on year to nearly 4.039 trillion VND.
Service income rose to over 1.989 trillion VND, more than five times the year-ago period, supported by payments service income of 2.481 trillion VND.
Profit from other operating income fell 7% year on year to 319 billion VND. The decline reflected higher other operating costs of 165 billion VND, despite debt collections that were provisioned at 354 billion VND being recovered.
Operating expenses rose 5% to 1.853 trillion VND. As a result, net operating income before provisions increased 41% to 4.008 trillion VND.
Although VIB increased credit risk provisions to nearly 1.205 trillion VND in Q1 (up 2.8 times), pretax profit still rose 16% to 2.803 trillion VND.
On a plan basis, VIB completed 24% of its annual pretax profit target of 11.550 trillion VND after Q1.
As of end-Q1, total assets increased 1% from the start of the year to 564.145 trillion VND. Loans to customers rose 1% to 386.257 trillion VND, with a focus on high-quality segments and good profitability.
The loan mix remained retail-led, with nearly 70% share. Corporate loans increased 8% year on year, supported by digitized and standardized comprehensive finance solutions.
Customer deposits rose 7% to 317.373 trillion VND, with retail deposits accounting for more than 62% of the mix. The CASA balance increased 5% since the start of the year, contributing to optimized funding costs, improved net interest margin, and room for competitive interest-rate policies.
VIB reported that risk-management indicators remain within safe levels: CAR above 12% (Basel III standard), LDR at 78%, the short-term to medium- and long-term funding ratio at 25%, and NSFR at 105%. The bank said it is among the pioneers in Vietnam in fully implementing Basel III, gradually applying advanced components per Circular 14/2025/TT-NHNN.
Total bad debt as of 31/03/2026 was roughly flat versus the start of the year at 11,357 billion VND. The bad debt-to-outstanding-loans ratio declined from 2.97% at year-start to 2.94%.
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