In a report on the prospects for the banking industry this year, analysts from the SSI Securities Corporation forecast that banking profits will bounce bank in 2021.
Hanoi (VNA)ꦡ - In a report on the prospects for the banking industry this year, analysts from the SSI Securities Corporation forecastthat banking profits will bounce bank in 2021.
They estimated that pre-tax profit of banking stocks will grow 21percent annually. State commercial banks will see a 30 percent rise in pre-taxprofits compared to 17.2 percent in joint stock commercial banks. It will be driven by expanded credit and slight improvements in net interestmargins. SSI predicted that net profit will rise by 15 percent while creditwill grow 12-13 percent year-on-year. Banks will continue to benefit from deposit rates going down to 2-2.5percent last year. Sharing a similar view, analysts from the BIDV Securities Company (BSC)also attributed higher banking profits to economic recovery and good assetquality control following the COVID-19 pandemic. They said pre-tax profits will grow 28 percent, added to by a 14 percentexpansion in credit. Restructured debts will not affect the quality of common assets in thesector. Meanwhile, the VNDIRECT Securities Corporation said banks will be thefirst to benefit from economic recovery./.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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Illustrative image (Photo: VNA) 
