Saigonbank (SGB) Posts Q2 2026 Pre-Tax Loss of 40 Billion VND; Eximbank (EIB) Profit Halves

Overview

Saigonbank (SGB) reported a pre-tax loss of 40 billion VND in Q2 2026, compared to a profit of 76.4 billion VND in the same period last year, according to its Q2 2026 financial statements released on July 27. Eximbank (EIB) also disclosed that its H1 2026 pre-tax profit fell 51% year-on-year to 730 billion VND. Meanwhile, Bich Chi (BCF) and SII posted significant profit declines, with SII swinging to a loss. The results highlight deteriorating earnings across banking, consumer staples, and infrastructure sectors.

Key Facts

• Saigonbank (SGB) recorded a pre-tax loss of 40 billion VND in Q2 2026, versus a profit of 76.4 billion VND in Q2 2025.
• SGB’s cumulative H1 2026 pre-tax profit was 48 billion VND, down 72.41% from H1 2025.
• Eximbank (EIB) reported H1 2026 pre-tax profit of 730 billion VND, a 51% decline year-on-year, achieving 48% of its full-year target.
• Bich Chi (BCF) posted Q2 2026 pre-tax profit of 22 billion VND, down 48% year-on-year; H1 profit was 50 billion VND, down 30%.
• SII recorded a pre-tax loss of 5 billion VND in Q2 2026 (versus a profit of 34 billion VND a year ago), bringing H1 loss to 12 billion VND.
• SGB trades on UPCOM at 12,500 VND (July 26, 2026); EIB trades on HOSE at 17,500 VND.
• The Q2 2026 financial statements were released on the morning of July 27, 2026.

What Happened

On July 27, 2026, several companies released their Q2 2026 financial statements. Saigonbank (SGB) reported a pre-tax loss of 40 billion VND for the quarter, a sharp reversal from the 76.4 billion VND profit in Q2 2025. For the first half of 2026, SGB’s pre-tax profit fell 72.41% to 48 billion VND. The bank did not provide specific reasons for the loss in the filing.

Eximbank (EIB) disclosed its H1 2026 results during an extraordinary general meeting on July 24, 2026. Quyen General Director Tran Tan Loc stated that pre-tax profit for the first six months reached 730 billion VND, down 51% year-on-year, completing 48% of the full-year target. The bank did not elaborate on the decline.

Bich Chi (BCF) reported Q2 2026 pre-tax profit of 22 billion VND, down 48% year-on-year, with H1 profit of 50 billion VND, down 30%. SII recorded a Q2 pre-tax loss of 5 billion VND, compared to a profit of 34 billion VND a year earlier, resulting in a cumulative H1 loss of 12 billion VND.

Market Context

Saigonbank (SGB) closed at 12,500 VND on July 26, 2026, on the UPCOM exchange. The bank’s shares have been under pressure amid a challenging operating environment for smaller lenders. Eximbank (EIB), listed on HOSE, closed at 17,500 VND. The broader banking sector has faced margin compression due to rising funding costs and slower loan growth. BCF (HOSE) closed at 39,000 VND, while SII (HOSE) last traded at 16,000 VND on June 28, 2026, with minimal volume. The earnings misses across multiple sectors suggest a broad-based slowdown in corporate profitability in H1 2026.

Strategic Significance

The Q2 2026 results underscore the earnings headwinds facing Vietnam’s banking sector, particularly for smaller institutions like Saigonbank that lack the scale to absorb rising costs. Eximbank’s 51% profit decline, despite achieving nearly half its annual target, indicates that even mid-tier banks are struggling. For consumer staples (BCF) and infrastructure (SII), the profit drops reflect demand weakness and cost inflation. These results may prompt investors to reassess sector valuations and earnings growth expectations for the remainder of 2026.

What to Watch

• Saigonbank’s Q3 2026 earnings release for signs of recovery or further deterioration.
• Eximbank’s full-year 2026 guidance update and any strategic measures to improve profitability.
• BCF’s commentary on demand trends and cost management in its upcoming quarterly report.
• SII’s progress on project execution and debt servicing, given its loss position.
• Sector-wide NIM trends and loan growth data from the State Bank of Vietnam (SBV) for Q3 2026.