Profit of bank shares takes the lead in Q1

Amongst five listed firms with the highest first-quarter profit, commercial banks accounted for four first positions. This showed that regardless the government’s tightening credit policy, banks are still the most beneficiaries.

According to the statistics from VietstockFinance, till May 6, there have been 507 enterprises announcing the business results in the first quarter of this year, of which, 41 firms posted losses and 237 others saw a year on year fall in after tax profit.

The data also showed there were a few enterprises posted strong growth. Of which, PVG posted a sharp growth of up to 834 percent to reach 115.46 billion dong profit and then MSN with 337.8 billion dong, growing 250 percent, and DPR with 214 percent growth to gain 152.4 billion dong.

However, looking at the absolute figures, three giants in the banking sector namely CTG, VCB and ACB have been added in the top five firms with the highest revenue in the market. Accordingly, CTG of Vietnam Commercial Joint Stock Bank for Industry and Trade (VietinBank) exceeded FPT to gain the first place in revenue with nearly 12.877 trillion dong in Q1, FPT at the second with 10.199 trillion dong, VCB at the third (nearly 8.693 trillion dong) and ACB at the fourth (over 5.485 trillion dong). HPG lost the second place to slip to stand at the fifth position with revenue of nearly 4.748 trillion dong.

Regarding profit, bankers continued to take the lead whereby amongst five listed firms with the highest profit on both bourses, four of them are commercial banks including VCB, CTG, EIB and ACB. Amidst the context of tightening monetary policy and too high interest rate, enterprises suffering heavy losses, many banks still posted huge profit.

VNM is a rare enterprise in the production sector posted high profit in Q1 with over 1.006 trillion dong, growing 23 percent year on year.

During last week, there were more enterprises announced relative high EPS from the previous week hereby except TCT continued its top place in terms of EPS in Q1, four following places saw a change including VNF at the second place (6,180 dong), KTS at the third (5,863 dong), HGM (4,778 dong) and TDN (4,716 dong).

In comparison with the previous week, the ranking list of top five biggest losers were still SSI, HT1, BVS, SHS, VSP and VND. – Vietbiz24

Posted by VBN on May 9 2011. Filed under Banking-Finance, Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry