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The consolidated first-quarter 2026 report of Vietnam Maritime Commercial Joint Stock Bank (MSB) shows pretax profit of more than 1,890 billion dong, up 16% year-on-year, supported by growth in core business activities.
In the first quarter, net interest income was the main contributor, rising 28% year-on-year to nearly 3,198 billion dong. MSB also recorded positive momentum from other activities, with non-interest income increasing 81% year-on-year to 169 billion dong.
Within non-interest income, some lines declined, including service income (-41%) and foreign exchange trading (-53%).
MSB improved operating efficiency, with operating expenses up 2% year-on-year to 1,259 billion dong. As a result, net profit from operating activities rose 18% to 2,390 billion dong.
The bank increased loan loss provisions to strengthen its long-term financial buffer, with provision expense up 27% to nearly 500 billion dong. Despite higher provisioning, MSB still lifted pretax profit by 16% to more than 1,890 billion dong.
Compared with the annual pretax profit target of 8,000 billion dong, MSB has achieved nearly 24% of the target in Q1.
Total assets as of the end of Q1 increased 1% year-to-date to 412,911 billion dong. Customer loans rose 5% to 214,695 billion dong, while customer deposits eased 1% to 193,895 billion dong.
Total non-performing loans as of 31/03/2026 rose 3% year-to-date to 5,712 billion dong, with improvements in substandard and doubtful debt. The NPL ratio to total loans fell from 2.69% at the start of the year to 2.66%.
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