Narrative Update • Aug 04
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Vietnamese (HOSE) Banks Industry Analysis
UpdatedAug 09, 2026
DataAggregated Company Financials
Companies24
- 7D2.6%
- 3M-4.8%
- 1Y-2.8%
- YTD-1.4%
Military Commercial Bank is up 7.3%, leading the way for the Banks industry, which has gained 2.6%. The industry has been flat over the past 12 months despite the gain this week. Looking forward, earnings are forecast to grow by 18% annually.
Industry Valuation and Performance
Has the Vietnamese Banks Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 09 Aug 2026 | ₫2612.9t | ₫626.5t | ₫296.7t | 8.1x | 8.8x | 4.2x |
| Tue, 07 Jul 2026 | ₫2718.1t | ₫594.5t | ₫272.9t | 8.2x | 10x | 4.6x |
| Thu, 04 Jun 2026 | ₫2655.3t | ₫594.5t | ₫272.9t | 7.7x | 9.7x | 4.5x |
| Sat, 02 May 2026 | ₫2643.1t | ₫595.4t | ₫279.9t | 7.8x | 9.4x | 4.4x |
| Mon, 30 Mar 2026 | ₫2566.4t | ₫573.7t | ₫272.8t | 8x | 9.4x | 4.5x |
| Wed, 25 Feb 2026 | ₫2826.4t | ₫573.7t | ₫273.0t | 8.8x | 10.4x | 4.9x |
| Fri, 23 Jan 2026 | ₫2898.5t | ₫555.1t | ₫272.2t | 9.3x | 10.6x | 5.2x |
| Sun, 21 Dec 2025 | ₫2538.5t | ₫554.7t | ₫262.6t | 8.1x | 9.7x | 4.6x |
| Tue, 18 Nov 2025 | ₫2570.7t | ₫554.7t | ₫262.6t | 8.1x | 9.8x | 4.6x |
| Thu, 16 Oct 2025 | ₫2818.1t | ₫534.0t | ₫253.6t | 9.4x | 11.1x | 5.3x |
| Sat, 13 Sep 2025 | ₫2766.9t | ₫534.0t | ₫253.6t | 9.3x | 10.9x | 5.2x |
| Mon, 11 Aug 2025 | ₫2598.0t | ₫531.8t | ₫252.7t | 8.5x | 10.3x | 4.9x |
| Wed, 09 Jul 2025 | ₫2295.6t | ₫516.8t | ₫241.0t | 7.8x | 9.5x | 4.4x |
| Fri, 06 Jun 2025 | ₫2127.4t | ₫516.8t | ₫241.0t | 7.5x | 8.8x | 4.1x |
| Sun, 04 May 2025 | ₫2050.0t | ₫516.2t | ₫240.4t | 7.6x | 8.5x | 4x |
| Tue, 01 Apr 2025 | ₫2214.6t | ₫502.5t | ₫235.2t | 8.7x | 9.4x | 4.4x |
| Thu, 27 Feb 2025 | ₫2215.4t | ₫500.8t | ₫234.5t | 8.8x | 9.4x | 4.4x |
| Sat, 25 Jan 2025 | ₫2152.9t | ₫478.7t | ₫218.6t | 8.9x | 9.8x | 4.5x |
| Mon, 23 Dec 2024 | ₫2072.8t | ₫469.0t | ₫213.6t | 8.6x | 9.7x | 4.4x |
| Wed, 20 Nov 2024 | ₫1988.0t | ₫469.0t | ₫213.6t | 8.3x | 9.3x | 4.2x |
| Fri, 18 Oct 2024 | ₫2142.3t | ₫455.1t | ₫204.6t | 9.7x | 10.5x | 4.7x |
| Sun, 15 Sep 2024 | ₫2015.0t | ₫455.1t | ₫204.5t | 8.4x | 9.9x | 4.4x |
| Tue, 13 Aug 2024 | ₫1966.0t | ₫455.3t | ₫204.9t | 8x | 9.6x | 4.3x |
| Thu, 11 Jul 2024 | ₫2007.7t | ₫429.2t | ₫193.7t | 8.5x | 10.4x | 4.7x |
| Sat, 08 Jun 2024 | ₫2004.7t | ₫429.9t | ₫194.7t | 8.2x | 10.3x | 4.7x |
| Mon, 06 May 2024 | ₫1996.4t | ₫431.3t | ₫192.6t | 7.7x | 10.4x | 4.6x |
| Wed, 03 Apr 2024 | ₫2071.9t | ₫426.3t | ₫194.7t | 8.3x | 10.6x | 4.9x |
| Fri, 01 Mar 2024 | ₫2060.2t | ₫419.9t | ₫192.8t | 8.3x | 10.7x | 4.9x |
| Sun, 28 Jan 2024 | ₫1931.0t | ₫404.4t | ₫177.9t | 8.6x | 10.9x | 4.8x |
| Tue, 26 Dec 2023 | ₫1718.8t | ₫407.8t | ₫179.3t | 6.9x | 9.6x | 4.2x |
| Thu, 23 Nov 2023 | ₫1730.2t | ₫396.7t | ₫175.2t | 7.1x | 9.9x | 4.4x |
| Sat, 21 Oct 2023 | ₫1671.7t | ₫393.6t | ₫175.6t | 6.4x | 9.5x | 4.2x |
| Mon, 18 Sep 2023 | ₫1828.9t | ₫395.3t | ₫176.9t | 7.1x | 10.3x | 4.6x |
| Wed, 16 Aug 2023 | ₫1812.3t | ₫395.3t | ₫176.7t | 7x | 10.3x | 4.6x |
Price to Earnings Ratio
10.3x
Current Industry PE
- Investors are pessimistic on the Vietnamese Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 8.8x which is lower than its 3-year average PE of 9.9x.
- The industry is trading close to its 3-year average PS ratio of 4.6x.
Past Earnings Growth
- The earnings for companies in the Banks industry have grown 19% per year over the last three years.
- Revenues for these companies have grown 17% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Vietnamese Financials industry?
| VN Market | 2.02% | |
| Financials | 2.32% | |
| Banks | 2.64% | |
| Diversified Banks | 2.68% | |
| Regional Banks | -0.12% | |
Industry PE
- Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 9.9x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 18% over the next 5 years.
- However this is lower than its past earnings growth rate of 22% per year.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 18% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MBB Military Commercial Bank | ₫24.15k | 7.3% +₫13.3t | 4.3% | PB1.3x | |
| CTG Vietnam Commercial Bank for Industry and Trade | ₫32.50k | 5.5% +₫13.2t | -1.5% | PB1.3x | |
| BID Commercial Bank for Investment and Development of Vietnam | ₫39.05k | 2.8% +₫7.6t | -1.6% | PB1.5x | |
| HDB Ho Chi Minh City Development Commercial Bank | ₫26.55k | 5.4% +₫6.8t | 22.8% | PB1.5x | |
| STB Saigon Treasure Commercial Bank | ₫74.60k | 4.6% +₫6.2t | 38.1% | PB2.2x |