![\"ACB](\"https:\/\/happite.com\/wp-content\/uploads\/2026\/07\/happite-acb-loi-nhuan-h1-2026-01.webp\" "\\"ACB")
<\/p>\nWhile the VN30 has just gone through a series of sessions bleeding red due to forced liquidation pressure\u2014with the index losing over 60 points in a single day\u2014ACB quietly announced a figure that made many take a second look: 10.7 trillion VND in pre-tax profit after 6 months, reaching 107% of the half-year plan. Not sensational, no shocking records, but exactly the “slow and steady” style that bank investors tend to prefer. <\/p>\n
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Most of ACB’s profit comes from core business activities, not “one-off” extraordinary income. By the end of Q2 2026, the bank’s credit balance reached nearly 746 trillion VND, an 8.6% increase from the beginning of the year\u2014higher than the industry’s general growth rate. Deposits kept pace, reaching nearly 776 trillion VND, up 8%. <\/p>\n
Net interest income reached nearly 14.8 trillion VND, up 13.3% year-on-year. More notably, the net interest margin (NIM) for Q2 alone improved to 3.02%, up nearly 0.2 percentage points from Q1. NIM is essentially like the gross profit of a grocery store: the bank raises capital at a low price (deposit interest rates) and then lends it out at a higher price (loan interest rates); that difference is the NIM. An increasing NIM means ACB is “selling its products” with a better profit margin, rather than just selling more volume. <\/p>\n
Non-interest income also contributed: service income increased by 24.8%, while operating costs were tightly controlled, causing the cost-to-income ratio (CIR) in Q2 to drop below 30%\u2014a very good figure among retail banks.<\/p>\n
After several gloomy quarters, ACB’s retail and small and medium enterprise (SME) lending segments accelerated for the first time: retail grew by 3.8% and SME by 5% compared to the end of Q1\u2014the highest quarterly growth in the past 4 quarters.<\/p>\n
This didn’t happen by chance. The ripple effect from public investment projects and infrastructure development is gradually spreading to the real economy, driving up the capital needs of households and small businesses. Mr. Tu Tien Phat, CEO of ACB, noted that the economic context is showing positive recovery signals and the private sector continues to be an important growth driver. Accordingly, the bank chose a “quality over speed” strategy\u2014accompanying customers with comprehensive financial solutions rather than just providing credit. <\/p>\n
In Q2, ACB did something that few banks do simultaneously: paid a cash dividend (~3.6 trillion VND) and issued shares for a 13% stock dividend, thereby bringing its charter capital to over 58 trillion VND.<\/p>\n
Such a rapid increase in capital often makes investors question the capital safety buffer. ACB’s answer: the consolidated capital adequacy ratio (CAR) according to Circular 14 after the dividend distribution still reached 11.8%\u2014significantly higher than the State Bank’s minimum requirement. CAR is basically like an individual’s emergency fund: the thicker it is, the more room the bank has to withstand strong market fluctuations. <\/p>\n
Another noteworthy detail: ACB’s certificates of deposit increased 15-fold compared to the beginning of the year, accounting for nearly 93% of the deposit growth in the 6-month period. This product is attractive due to its flexibility in cash flow management and the ability to trade directly on the digital banking app, instead of having to hold fixed-term deposits. <\/p>\n
Fast growth can easily lead to the risk of loosened control, but ACB still maintains fairly tight discipline. The bad debt ratio at the end of Q2 was at 1%, while the loan loss coverage ratio (LLCR\u2014the amount of provisions set aside compared to bad debt, where higher is safer) reached 105%. The CASA ratio (current account savings account, which helps the bank raise low-cost capital) remained around 22%. <\/p>\n
Regarding liquidity, ACB’s ratio of short-term capital used for medium and long-term loans was about 29.1%, much lower than the 40% ceiling under the State Bank’s new regulations. The loan-to-deposit ratio (LDR) was at 81.4%, also lower than the 85% ceiling\u2014meaning the bank still has room to provide more credit without having to rush to raise deposits. <\/p>\n
A bank reporting good profits doesn’t mean the stock will rise immediately\u2014especially in the context of a general market that has just experienced a period of strong volatility due to widespread margin call pressure (see details in the article VN-Index Plummets July 22, 2026<\/a>). ACB’s business results should be viewed from two perspectives. <\/p>\n On the positive side, ACB’s fundamentals\u2014improving NIM, controlled bad debt, and recovering retail\/SME segments\u2014are indicators that profit quality is improving, not just increasing in scale. After recent corrections, the valuation levels of the banking group in particular and the VN-Index in general are also considered more attractive by some organizations (refer to the valuation perspective in the article VN-Index P\/E: Dragon Capital says it’s cheap<\/a>). <\/p>\n On the risk side, overall market liquidity remains weak, margin pressure has not fully cooled down, and unpredictable international geopolitical fluctuations could continue to affect cash flow sentiment\u2014factors beyond the control of any individual bank, including ACB. A more detailed risk picture for each ticker in the VN30 basket is summarized by Happite in the article VN30 Risk Map July 2026<\/a>.<\/p>\n Compared to other VN30 banks that have announced Q2 results (see more VN30 Banks Q2\/2026: VPB, STB<\/a> and Techcombank Record Profit Q2\/2026<\/a>), the industry’s overall picture is diverging: some banks have seen explosive growth, while others are flat or slightly declining. ACB is in the group of stable, steady growth\u2014not the hottest growth star, but also not a name that makes investors jump due to risk.<\/p>\n How much profit did ACB make in the first 6 months of 2026?<\/strong> How did ACB’s NIM improve in Q2?<\/strong> How much dividend is ACB paying in 2026?<\/strong> What is ACB’s current bad debt level?<\/strong> Why are retail and SME considered ACB’s new drivers?<\/strong> This article is for informational and educational purposes only, not an investment recommendation. You should do your own research or consult a licensed professional before making decisions.<\/em><\/p>\n References: CafeF<\/a>, VietStock<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" ACB reports 10.7 trillion VND pre-tax profit for first half of 2026, NIM improves, retail\/SME recovery strongest in 4 quarters. What should VN30 investors take away from this figure?<\/p>\n","protected":false},"author":2,"featured_media":3124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","footnotes":""},"categories":[814],"tags":[1191,1192,1185,1183,1184],"class_list":["post-3123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-acb","tag-bank-nim","tag-bank-profits-2026","tag-bank-stocks","tag-vn30-banks","article","has-background",false,"dark-theme-","has-excerpt","has-avatar","has-author","has-nickname","has-date","has-comment-count","has-category-meta","has-read-more","has-title","has-post-media","thumbnail-"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tFrequently Asked Questions<\/h2>\n
Consolidated pre-tax profit reached over 10.7 trillion VND, equivalent to 107% of the plan for the first 6 months.<\/p>\n
NIM for Q2 2026 alone reached 3.02%, up nearly 0.2 percentage points from Q1, partly thanks to the recovery in retail and SME segments.<\/p>\n
The bank has paid nearly 3.6 trillion VND in cash dividends and issued a 13% stock dividend, bringing its charter capital to over 58 trillion VND.<\/p>\n
The bad debt ratio is controlled at 1%, and the loan loss coverage ratio (LLCR) reached 105%\u2014among the safer groups in the industry.<\/p>\n
Because these segments saw the highest quarterly growth in the last 4 quarters (retail +3.8%, SME +5%), thanks to the ripple effect from public investment and growth support policies.<\/p>\n