MBBank records 18% profit growth in H1, among top earners in Vietnam's banking system

Hanoi-based MBBank (MB) posted a pre-tax profit of VND15.89 trillion ($606.43 million) in H1/2025, up 18% from a year earlier and meeting half of its full-year target.

The lender (HoSE: MBB) leads the pack that already reported H1 earnings, ahead of peers such as BIDV, Techcombank, and VPBank.

Its operating income jumped 24.6% to VND32.6 trillion ($1.24 billion), driven by a 37% surge in service income.

The sharp increase highlights MB’s push to diversify revenue streams and reduce reliance on lending, especially as credit growth faces tighter regulatory oversight.

Net interest income rose 22.8% to over VND24 trillion ($915.94 million), while earnings from foreign exchange trading and other activities also advanced.

Investment securities trading saw the strongest gain, surging 2.3 times from a year earlier to nearly VND1.3 trillion ($49.61 million).

Meanwhile, the cost-to-income ratio (CIR) stood at just 27.3%, among the lowest in the banking system, reflecting tight cost control and strong operational efficiency.

In Q2 alone, net interest income rose 17.5% to VND12.37 trillion ($472.09 million). However, pre-tax profit slipped 1.3% year-on-year to VND7.5 trillion ($286.23 million) after accounting for expenses. Operating costs and provisioning jumped 38% and 10.3%, respectively.

As of June 30, MB’s total assets reached VND1.29 quadrillion ($49.23 billion), up VND161 trillion ($6.14 billion) since the start of the year. The bank maintained its position as the fifth-largest in the Vietnamese banking sector by assets, trailing BIDV, Vietcombank, Agribank, and VietinBank.

Customer deposits rose 9.6% to VND783.29 trillion ($29.89 billion), with current account savings (CASA) accounting for 37.8% of the total. This is one of the highest CASA ratios in the market, underscoring customer confidence in MB’s digital ecosystem. This supports low funding costs and strengthens its competitive edge.

Lending grew 13% in H1 to VND880 trillion ($33.58 billion), led by wholesale, retail, and motor vehicle repair, which made up 29.1% of the loan book. Loans to real estate customers stood at VND85.53 trillion ($3.26 billion), up nearly VND20 trillion ($761 million) over the six-month period.

MB’s total non-performing loans rose 12% from the beginning of the year to VND14.12 trillion ($538.88 million). The non-performing loan ratio was kept at a safe 1.6%, reflecting effective risk management. Meanwhile, the coverage ratio stood at 88.9%, underscoring strong financial buffers amid ongoing market uncertainties.

Beyond the parent bank, MB’s ecosystem companies also delivered strong results in H1. Their combined revenue reached VND13.78 trillion ($525.9 million), up 25% from a year earlier, while pre-tax profit rose 39% to VND1.63 trillion ($62.2 million).

Many subsidiaries strengthened their market positions: MBGroup retained its No.1 spot in bancassurance distribution, Mcredit held its position in the Top 3 of the consumer finance market, MIC ranked among the Top 4 in non-life insurance, and MBS remained in the Top 7 by brokerage market share.

On the Ho Chi Minh Stock Exchange, MBB shares closed Wednesday at VND27,400 ($1.04) apiece.