{"id":2216,"date":"2025-10-07T17:37:50","date_gmt":"2025-10-07T10:37:50","guid":{"rendered":"https:\/\/ckvn.net\/chung-khoan\/?p=2216"},"modified":"2025-10-07T18:02:02","modified_gmt":"2025-10-07T11:02:02","slug":"acb-loi-nhuan-quy-3-uoc-dat-5400-5500-ty-tang-10-14-so-voi-cung-ky-huong-loi-tu-nghi-quyet-42-va-cho-vay-ban-le-phuc-hoi","status":"publish","type":"post","link":"https:\/\/ckvn.net\/chung-khoan\/phan-tich\/doanh-nghiep\/acb-loi-nhuan-quy-3-uoc-dat-5400-5500-ty-tang-10-14-so-voi-cung-ky-huong-loi-tu-nghi-quyet-42-va-cho-vay-ban-le-phuc-hoi\/","title":{"rendered":"ACB: L\u1ee3i nhu\u1eadn qu\u00fd 3 \u01b0\u1edbc \u0111\u1ea1t 5,400-5,500 t\u1ef7, t\u0103ng 10%-14% so v\u1edbi c\u00f9ng k\u1ef3. H\u01b0\u1edfng l\u1ee3i t\u1eeb Ngh\u1ecb Quy\u1ebft 42 v\u00e0 cho vay b\u00e1n l\u1ebb ph\u1ee5c h\u1ed3i."},"content":{"rendered":"\n

VNDirect duy tr\u00ec khuy\u1ebfn ngh\u1ecb Kh\u1ea3 quan \u0111\u1ed1i v\u1edbi c\u1ed5 phi\u1ebfu ACB v\u00e0 \u0111\u00e3 n\u00e2ng gi\u00e1 m\u1ee5c ti\u00eau l\u00ean 31,300 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu, v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 l\u00e0 21.6% c\u00f9ng l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn 3.4%. Vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh t\u0103ng gi\u00e1 m\u1ee5c ti\u00eau n\u00e0y ch\u1ee7 y\u1ebfu ph\u1ea3n \u00e1nh vi\u1ec7c VNDirect n\u00e2ng d\u1ef1 ph\u00f3ng t\u0103ng tr\u01b0\u1edfng t\u00edn d\u1ee5ng v\u00e0 thu nh\u1eadp ngo\u00e0i l\u00e3i (Non-II) c\u1ee7a ng\u00e2n h\u00e0ng. Tuy nhi\u00ean, m\u1ee9c \u0111\u1ecbnh gi\u00e1 P\/B m\u1ee5c ti\u00eau \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng l\u00e0 1.46 l\u1ea7n, th\u1ea5p h\u01a1n m\u1ee9c 1.5 l\u1ea7n hi\u1ec7n t\u1ea1i, do d\u1ef1 ph\u00f3ng ROE n\u0103m 2025 gi\u1ea3m xu\u1ed1ng 20.2% (so v\u1edbi 21.7% n\u0103m 2024) v\u00e0 chi\u1ebft kh\u1ea5u so v\u1edbi m\u1ee9c P\/B trung b\u00ecnh c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu c\u00f9ng ng\u00e0nh. \u0110\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng ch\u00ednh trong n\u1eeda cu\u1ed1i n\u0103m s\u1ebd \u0111\u1ebfn t\u1eeb s\u1ef1 ph\u1ee5c h\u1ed3i c\u1ee7a cho vay b\u00e1n l\u1ebb v\u00e0 kh\u1ea3 n\u0103ng x\u1eed l\u00fd n\u1ee3 t\u1ed1t nh\u1edd Ngh\u1ecb quy\u1ebft 42, b\u00f9 \u0111\u1eafp m\u1ed9t ph\u1ea7n \u00e1p l\u1ef1c t\u1eeb NIM.<\/p>\n\n\n\n

VNDirect n\u00e2ng gi\u00e1 m\u1ee5c ti\u00eau ACB l\u00ean 31,300 \u0111\u1ed3ng\/cp, ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 21.6% v\u00e0 c\u1ed5 t\u1ee9c 3.4%; \u0111\u1ed9ng l\u1ef1c ch\u00ednh \u0111\u1ebfn t\u1eeb t\u0103ng tr\u01b0\u1edfng t\u00edn d\u1ee5ng b\u00e1n l\u1ebb, thu h\u1ed3i n\u1ee3 m\u1ea1nh nh\u1edd Ngh\u1ecb quy\u1ebft 42, v\u00e0 thu nh\u1eadp ngo\u00e0i l\u00e3i (Non-II) t\u0103ng 20.3% YoY.<\/p>\n\n\n\n

\u01af\u1edbc t\u00ednh l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc thu\u1ebf qu\u00fd 3\/2025 kho\u1ea3ng 5,400\u20135,500 t\u1ef7 \u0111\u1ed3ng (+10\u201314% YoY); t\u0103ng tr\u01b0\u1edfng t\u00edn d\u1ee5ng ph\u1ee5c h\u1ed3i m\u1ea1nh \u1edf m\u1ea3ng b\u00e1n l\u1ebb v\u00e0 FDI, ch\u1ea5t l\u01b0\u1ee3ng t\u00e0i s\u1ea3n duy tr\u00ec v\u01b0\u1ee3t tr\u1ed9i v\u1edbi t\u1ef7 l\u1ec7 n\u1ee3 x\u1ea5u d\u1ef1 ki\u1ebfn gi\u1ea3m xu\u1ed1ng 1.27%.<\/p>\n\n\n\n

NIM v\u1eabn ch\u1ecbu \u00e1p l\u1ef1c do m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t th\u1ea5p, VNDirect h\u1ea1 d\u1ef1 ph\u00f3ng NIM xu\u1ed1ng 3.28%; tuy nhi\u00ean, t\u1ef7 l\u1ec7 CASA c\u1ea3i thi\u1ec7n v\u00e0 chi ph\u00ed t\u00edn d\u1ee5ng \u1ed5n \u0111\u1ecbnh gi\u00fap ACB gi\u1eef v\u1eefng hi\u1ec7u qu\u1ea3 sinh l\u1eddi.<\/p>\n\n\n\n

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N\u1ed9i dung<\/p>\n