Reported Earnings • Apr 25
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: ₫841 (up from ₫708 in 1Q 2025). Revenue: ₫8.22t (up 13% from 1Q 2025). Net income: ₫4.32t (up 18% from 1Q 2025). Profit margin: 53% (up from 51% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 13
Consensus EPS estimates increase by 14%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from ₫42t to ₫37t. EPS estimate rose from ₫3,128 to ₫3,568. Net income forecast to grow 21% next year vs 18% growth forecast for Banks industry in Vietnam. Consensus price target of ₫31,668 unchanged from last update. Share price rose 3.7% to ₫23,850 over the past week. Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ₫3,899 to ₫3,329. Revenue forecast unchanged from ₫42t at last update. Net income forecast to grow 17% next year vs 18% growth forecast for Banks industry in Vietnam. Consensus price target broadly unchanged at ₫31,668. Share price fell 4.6% to ₫23,000 over the past week. Announcement • Feb 07
Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 09, 2026 Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 09, 2026. Location: at sheraton saigon hotel, 88 dong khoi street,sai gon ward, ho chi minh city Vietnam Reported Earnings • Jan 29
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₫3,022 (down from ₫3,191 in FY 2024). Revenue: ₫30t (down 4.5% from FY 2024). Net income: ₫16t (down 4.7% from FY 2024). Profit margin: 51% (in line with FY 2024). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: ₫833 (vs ₫729 in 3Q 2024) Third quarter 2025 results: EPS: ₫833 (up from ₫729 in 3Q 2024). Revenue: ₫8.10t (up 4.1% from 3Q 2024). Net income: ₫4.28t (up 11% from 3Q 2024). Profit margin: 53% (up from 50% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Oct 19
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Director Quoc Trinh was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 26
Second quarter 2025 earnings released: EPS: ₫929 (vs ₫855 in 2Q 2024) Second quarter 2025 results: EPS: ₫929 (up from ₫855 in 2Q 2024). Revenue: ₫8.83t (up 10% from 2Q 2024). Net income: ₫4.88t (up 9.2% from 2Q 2024). Profit margin: 55% (in line with 2Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Major Estimate Revision • May 21
Consensus revenue estimates decrease by 10%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫40t to ₫36t. EPS estimate increased from ₫3,854 to ₫3,934 per share. Net income forecast to grow 18% next year vs 19% growth forecast for Banks industry in Vietnam. Consensus price target broadly unchanged at ₫31,259. Share price rose 3.4% to ₫25,650 over the past week. Declared Dividend • May 16
Dividend of ₫1,000 announced Shareholders will receive a dividend of ₫1,000. Ex-date: 23rd May 2025 Payment date: 5th June 2025 Dividend yield will be 3.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by earnings (24% payout ratio) and is expected to be well covered in 3 years' time (20% forecast payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 15
Asia Commercial Joint Stock Bank announces Annual dividend, payable on June 05, 2025 Asia Commercial Joint Stock Bank announced Annual dividend of VND 1000.0000 per share payable on June 05, 2025, ex-date on May 23, 2025 and record date on May 26, 2025. Reported Earnings • Apr 24
First quarter 2025 earnings: Revenues miss analyst expectations First quarter 2025 results: Revenue: ₫7.29t (down 5.5% from 1Q 2024). Net income: ₫3.68t (down 5.8% from 1Q 2024). Profit margin: 51% (in line with 1Q 2024). Revenue missed analyst estimates by 13%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫21,800, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Banks industry in Vietnam. Total returns to shareholders of 15% over the past three years. New Risk • Mar 13
New minor risk - Dividend sustainability The company is not expected to pay a dividend in 3 years. Current dividend yield: 3.3% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Feb 21
Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 08, 2025 Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 08, 2025. Location: sheraton sai gon hotel, no. 88, dong khoi street, ben nghe ward, district 1, hcmc, Vietnam Announcement • Jan 03
Asia Commercial Joint Stock Bank Announces Resignation of Nguyen Van Hoa as Chief Financial Officer On December 31, 2024, Asia Commercial Joint Stock Bank announced the resignation of Mr. Nguyen Van Hoa as Chief Financial Officer from January 01, 2025. Reported Earnings • Oct 27
Third quarter 2024 earnings released: EPS: ₫866 (vs ₫893 in 3Q 2023) Third quarter 2024 results: EPS: ₫866 (down from ₫893 in 3Q 2023). Revenue: ₫7.78t (down 1.6% from 3Q 2023). Net income: ₫3.87t (down 4.1% from 3Q 2023). Profit margin: 50% (down from 51% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: ₫909 (vs ₫860 in 2Q 2023) Second quarter 2024 results: EPS: ₫909 (up from ₫860 in 2Q 2023). Revenue: ₫8.06t (up 10% from 2Q 2023). Net income: ₫4.47t (up 16% from 2Q 2023). Profit margin: 55% (up from 53% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 24
Asia Commercial Joint Stock Bank Announces Appointment of Nguyen Thi Tuyet Van as Deputy Chief Executive Officer, Effective September 01, 2024 Asia Commercial Joint Stock Bank announced appointment of Mrs. Nguyen Thi Tuyet Van as Deputy CEO; effective September 01, 2024. Term: 01 year. Announcement • Jul 03
Asia Commercial Joint Stock Bank Appoints Nguyen Van Hoa as Deputy CEO Asia Commercial Joint Stock Bank announced the change in personnel as follows: Newly Appointment of Mr. Nguyen Van Hoa as Deputy CEO. Term: 05 years Effective date: June 28, 2024. Declared Dividend • May 25
Dividend of ₫1,000 announced Shareholders will receive a dividend of ₫1,000. Ex-date: 31st May 2024 Payment date: 13th June 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (22% forecast payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 25
Asia Commercial Joint Stock Bank Announces Cash Dividend for the Year 2023, Payable on June 13, 2024 On May 22, 2024, Asia Commercial Joint Stock Bank announced to pay cash dividend for 2023: Exercise ratio: 10% per share (VND 1,000 per share). Payment date: June 13, 2024. Record date: June 03, 2024. Reported Earnings • Apr 28
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ₫1,006 (down from ₫1,065 in 1Q 2023). Revenue: ₫7.66t (flat on 1Q 2023). Net income: ₫3.91t (down 5.6% from 1Q 2023). Profit margin: 51% (down from 54% in 1Q 2023). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 1.3%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 04, 2024 Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 04, 2024. Location: No.88 Dong Khoi, Ben Nghe ward, district 1 HCMC Vietnam Reported Earnings • Jan 28
Full year 2023 earnings released: EPS: ₫4,092 (vs ₫3,486 in FY 2022) Full year 2023 results: EPS: ₫4,092 (up from ₫3,486 in FY 2022). Revenue: ₫31t (up 7.9% from FY 2022). Net income: ₫16t (up 19% from FY 2022). Profit margin: 52% (up from 47% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 21% per year. Announcement • Dec 30
Asia Commercial Joint Stock Bank Appoints Nguyen Van Hoa as Deputy CEO Cum CFO, Effective January 1, 2024 Asia Commercial Joint Stock Bank appointed Mr. Nguyen Van Hoa as Deputy CEO cum CFO, effective January 1, 2024. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: ₫1,002 (vs ₫911 in 3Q 2022) Third quarter 2023 results: EPS: ₫1,002 (up from ₫911 in 3Q 2022). Revenue: ₫7.96t (up 14% from 3Q 2022). Net income: ₫4.04t (up 13% from 3Q 2022). Profit margin: 51% (in line with 3Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: ₫959 (vs ₫1,009 in 2Q 2022) Second quarter 2023 results: EPS: ₫959 (down from ₫1,009 in 2Q 2022). Revenue: ₫7.32t (up 1.8% from 2Q 2022). Net income: ₫3.87t (down 2.0% from 2Q 2022). Profit margin: 53% (down from 55% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 32% per year. Major Estimate Revision • Jun 06
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ₫3,684 to ₫4,077. Revenue forecast unchanged at ₫33t. Net income forecast to grow 14% next year vs 21% growth forecast for Banks industry in Vietnam. Consensus price target broadly unchanged at ₫29,260. Share price was steady at ₫21,800 over the past week. Announcement • May 25
Asia Commercial Joint Stock Bank Announces Cash Dividend for 2022, Payable on June 12, 2023 On May 22, 2023, Asia Commercial Joint Stock Bank announced the record dated to pay the cash dividend in 2022 as follows: Record date: June 02, 2023; Exercise ratio: 10% (VND 1,000 per share); Payment date: June 12, 2023. Price Target Changed • May 04
Price target increased by 7.4% to ₫35,174 Up from ₫32,736, the current price target is an average from 8 analysts. New target price is 42% above last closing price of ₫24,700. Stock is down 2.6% over the past year. The company is forecast to post earnings per share of ₫4,069 for next year compared to ₫4,008 last year. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: ₫1,224 (vs ₫953 in 1Q 2022) First quarter 2023 results: EPS: ₫1,224 (up from ₫953 in 1Q 2022). Revenue: ₫7.66t (up 12% from 1Q 2022). Net income: ₫4.14t (up 26% from 1Q 2022). Profit margin: 54% (up from 48% in 1Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 22
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be ₫31,520, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 18% in the next 2 years. Reported Earnings • Feb 03
Full year 2022 earnings released: EPS: ₫4,008 (vs ₫2,799 in FY 2021) Full year 2022 results: EPS: ₫4,008 (up from ₫2,799 in FY 2021). Revenue: ₫29t (up 42% from FY 2021). Net income: ₫14t (up 45% from FY 2021). Profit margin: 48% (in line with FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 28% per year. Buying Opportunity • Feb 03
Now 21% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be ₫30,820, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 18% in the next 2 years. Announcement • Jan 19
Asia Commercial Joint Stock Bank Announces Change in Personnel Asia Commercial Joint Stock Bank announces the change in personnel as follows: Appointment: 1. Mr. Ngo Tan Long: Former position in the organization: Newly appointed position: Deputy CEO, Term: 01 year, Effective date: from January 12, 2023. 2. Mr. Nguyen Khac Nguyen: Former position in the organization: Newly appointed position: Deputy CEO, Term: 03 years, Effective date: from January 15, 2023 to January 14, 2026. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Chiang Huang was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 24
Third quarter 2022 earnings released: EPS: ₫1,020 (vs ₫610 in 3Q 2021) Third quarter 2022 results: EPS: ₫1,020 (up from ₫610 in 3Q 2021). Revenue: ₫7.00t (up 44% from 3Q 2021). Net income: ₫3.59t (up 71% from 3Q 2021). Profit margin: 51% (up from 43% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Oct 14
Asia Commercial Joint Stock Bank Announces Resignation of Nguyen Ngoc Nhu Uyen as Deputy CEO, Effective from November 01, 2022 Asia Commercial Joint Stock Bank announced that Ms. Nguyen Ngoc Nhu Uyen resigned as Deputy CEO, Effective from November 01, 2022. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫18,650, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Banks industry in Vietnam. Total returns to shareholders of 58% over the past three years. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: ₫1,119 (vs ₫951 in 2Q 2021) Second quarter 2022 results: EPS: ₫1,119 (up from ₫951 in 2Q 2021). Revenue: ₫7.19t (up 48% from 2Q 2021). Net income: ₫3.94t (up 52% from 2Q 2021). Profit margin: 55% (up from 53% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 24%, compared to a 57% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫25,240, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Banks industry in Vietnam. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 02
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: ₫1,217 (up from ₫919 in 1Q 2021). Revenue: ₫6.88t (up 27% from 1Q 2021). Net income: ₫3.29t (up 32% from 1Q 2021). Profit margin: 48% (up from 46% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 30%, compared to a 55% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Chiang Huang was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫3,498 (up from ₫2,808 in FY 2020). Revenue: ₫20t (up 17% from FY 2020). Net income: ₫9.45t (up 25% from FY 2020). Profit margin: 47% (up from 44% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 34%, compared to a 59% growth forecast for the banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 16
Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 07, 2022 Asia Commercial Joint Stock Bank, Annual General Meeting, Apr 07, 2022. Location: Sheraton Hotel, 88 Dong Khoi Street, Ben Nghe, district 1 Hochiminh Vietnam Price Target Changed • Feb 09
Price target increased to ₫41,010 Up from ₫38,302, the current price target is an average from 7 analysts. New target price is 15% above last closing price of ₫35,600. Stock is up 56% over the past year. The company is forecast to post earnings per share of ₫4,497 for next year compared to ₫3,498 last year. Reported Earnings • Jan 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫3,498 (up from ₫2,808 in FY 2020). Revenue: ₫20t (up 18% from FY 2020). Net income: ₫9.60t (up 27% from FY 2020). Profit margin: 48% (up from 44% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 31%, compared to a 53% growth forecast for the banks industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Dec 15
Price target increased to ₫40,764 Up from ₫38,019, the current price target is an average from 8 analysts. New target price is 22% above last closing price of ₫33,400. Stock is up 48% over the past year. The company is forecast to post earnings per share of ₫3,455 for next year compared to ₫2,808 last year. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS ₫762 (vs ₫753 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: ₫4.87t (up 13% from 3Q 2020). Net income: ₫2.10t (up 1.4% from 3Q 2020). Profit margin: 43% (down from 48% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS ₫1,162 (vs ₫682 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫4.84t (up 32% from 2Q 2020). Net income: ₫2.59t (up 70% from 2Q 2020). Profit margin: 54% (up from 42% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 17% share price gain to ₫44,600, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Banks industry in Vietnam. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫41,354 per share. Price Target Changed • May 25
Price target increased to ₫40,749 Up from ₫36,948, the current price target is an average from 8 analysts. New target price is 7.2% above last closing price of ₫38,000. Stock is up 112% over the past year. Announcement • May 17
Asia Commercial Joint Stock Bank announced that it expects to receive VND 5400 billion in funding Asia Commercial Joint Stock Bank (HNX:ACB) announced that it will issue 540,000,000 shares at a price of VND 10,000 per share for gross proceeds of VND 5,400,000,000,000 on May 17, 2021. Pursuant to the transaction, the charter capital of the company will increase from VND 21,600,000,000,000 to VND 27,000,000,000,000. The transaction has been approved by the State Bank of Vi?t Nam. Reported Earnings • Apr 25
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫5.07t (up 14% from 1Q 2020). Net income: ₫2.48t (up 62% from 1Q 2020). Profit margin: 49% (up from 35% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 26
Price target increased to ₫35,386 Up from ₫32,924, the current price target is an average from 6 analysts. New target price is 10% above last closing price of ₫32,050. Stock is up 111% over the past year. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS ₫3,511 (vs ₫2,780 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫17t (up 8.8% from FY 2019). Net income: ₫7.58t (up 28% from FY 2019). Profit margin: 44% (up from 37% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.07%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 25%, compared to a 51% growth forecast for the Banks industry in Vietnam. Is New 90 Day High Low • Feb 20
New 90-day high: ₫31,100 The company is up 14% from its price of ₫27,300 on 20 November 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫25,222 per share. Major Estimate Revision • Feb 20
Analysts increase EPS estimates to ₫4,347 The 2021 consensus revenue estimate increased from ₫20t to ₫22t. The earnings per share estimate also received an upgrade from ₫3,472 to ₫4,347 for the same period. Net income is expected to grow by 1.1% next year compared to 15% growth forecast for the Banks industry in Vietnam. The consensus price target increased from ₫30,433 to ₫31,353. Share price is up 2.1% to ₫29,150 over the past week. Analyst Estimate Surprise Post Earnings • Jan 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.07%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 18%, compared to a 45% growth forecast for the Banks industry in Vietnam. Is New 90 Day High Low • Jan 09
New 90-day high: ₫30,200 The company is up 29% from its price of ₫23,500 on 09 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫20,399 per share. Is New 90 Day High Low • Dec 22
New 90-day high: ₫28,950 The company is up 29% from its price of ₫22,500 on 23 September 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫20,628 per share. Price Target Changed • Nov 28
Price target raised to ₫30,041 Up from ₫28,005, the current price target is an average from 11 analysts. The new target price is 10% above the current share price of ₫27,200. As of last close, the stock is up 53% over the past year. Announcement • Nov 19
Sun Life Announces 15-Year Exclusive Bancassurance Partnership with Asia Commercial Joint Stock Bank in Vietnam Sun Life Vietnam Insurance Company Limited and Asia Commercial Joint Stock Bank (ACB) have formed a 15-year exclusive bancassurance partnership in Vietnam. Launching January 1, 2021, the partnership combines ACB's extensive distribution network of 371 branches with Sun Life Vietnam's competitive and comprehensive life insurance solutions. It will give ACB's fast-growing base of over 3.6 million Clients access to a comprehensive range of innovative insurance solutions at different life stages. The partnership significantly expands Sun Life's distribution capabilities, supporting its ambition to be a leader in Asia through distribution excellence in higher growth markets. Sun Life Vietnam achieved sales growth of 47% over the 12 months ending September 30, 2020, compared to the same period last year, with a focus on offering a comprehensive range of solutions and exceptional Client experiences. Is New 90 Day High Low • Nov 12
New 90-day high: ₫26,400 The company is up 36% from its price of ₫19,462 on 14 August 2020. The Vietnamese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫16,739 per share. Major Estimate Revision • Nov 02
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from ₫2,737 to ₫3,096. No change was made to the revenue estimate which at the last update was ₫18t. Net income is expected to grow by 8.7% next year compared to 18% growth forecast for the Banks industry in Vietnam. The consensus price target increased from ₫23,616 to ₫25,715. Share price is down by 2.8% to ₫24,100 over the past week. Price Target Changed • Oct 28
Price target raised to ₫25,715 Up from ₫23,616, the current price target is an average from 9 analysts. The new target price is 8.0% above the current share price of ₫23,800. As of last close, the stock is up 27% over the past year. Analyst Estimate Surprise Post Earnings • Oct 27
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 8.7% at ₫4.30t. Revenue is forecast to grow 12% over the next year, compared to a 42% growth forecast for the Banks industry in Vietnam. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of ₫6.60t, up 16% from the prior year. Total revenue was ₫17t over the last 12 months, up 17% from the prior year. Is New 90 Day High Low • Oct 15
New 90-day high: ₫24,500 The company is up 28% from its price of ₫19,077 on 17 July 2020. The Vietnamese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫15,423 per share. Is New 90 Day High Low • Sep 18
New 90-day high: ₫21,700 The company is up 16% from its price of ₫18,769 on 19 June 2020. The Vietnamese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫15,354 per share.