SGB, EIB, LPB, ACB Post H1 2026 Profit Declines; ABB, KLB, VAB Surge
This Aveluro analysis covers SGB on UPCOM in the Banking sector. The classified event type is earnings miss, with mixed sentiment and a deterministic market-impact score of 7.0/10. Source coverage came from CafeF - Tài chính ngân hàng, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Thirteen Vietnamese banks have reported H1 2026 earnings, revealing sharp divergence: Saigonbank (SGB), Eximbank (EIB), LPBank (LPB), and ACB posted profit declines, while Kienlongbank (KLB), Vietbank (VAB), and ABBank (ABB) delivered strong growth. The results underscore sector-wide margin pressure and asset-quality challenges for some lenders.
Key Facts
- Saigonbank (SGB) reported H1 2026 pre-tax profit of VND 48 billion, down 72.41% YoY, with a Q2 loss of VND 40 billion.
- Eximbank (EIB) posted H1 pre-tax profit of VND 730 billion, down 51% YoY, achieving 48% of its full-year target.
- LPBank (LPB) recorded H1 pre-tax profit of VND 5,973 billion, down 3.1% YoY, completing about 40% of its annual plan.
- ACB reported H1 pre-tax profit of VND 10.7 trillion, down 0.4% YoY, but reached 107% of its H1 target.
- ABBank (ABB) posted H1 pre-tax profit of VND 3,016 billion, up 80% YoY, achieving 67% of its full-year target of VND 4,500 billion.
- Kienlongbank (KLB) reported H1 pre-tax profit of VND 1,176 billion, up 27.6% YoY.
- Vietbank (VAB) achieved H1 pre-tax profit of VND 923 billion, up 79.4% YoY, with net interest income rising 26%.
What Happened
As of July 26, 2026, 13 banks disclosed their H1 2026 financial results, showing a clear divergence. Saigonbank swung to a Q2 loss of VND 40 billion, dragging H1 profit down 72% to VND 48 billion. Eximbank’s acting CEO Tran Tan Loc announced at an extraordinary shareholder meeting on July 24 that H1 pre-tax profit fell 51% to VND 730 billion, with NPL ratio at 2.88% and CAR at 12.5%. LPBank’s H1 profit slipped 3.1% to VND 5,973 billion, though Q2 alone rose 5% YoY. ACB’s profit dipped 0.4% to VND 10.7 trillion, but the bank maintained a low NPL ratio of 1% and LLCR of 105%.
On the positive side, ABBank’s H1 profit surged 80% to VND 3,016 billion, reaching 67% of its full-year target. Kienlongbank’s profit rose 27.6% to VND 1,176 billion, driven by a 15.8% Q2 gain. Vietbank’s profit jumped 79.4% to VND 923 billion, supported by 26% growth in net interest income.
Market Context
SGB trades on UPCOM at VND 12,500 (July 26, 2026), reflecting investor concern over its deteriorating profitability. EIB closed at VND 17,500 on HOSE, LPB at VND 52,400 on HOSE, and KLB at VND 11,500 on HNX. The banking sector has faced margin compression from lower lending rates and rising provisioning costs. The mixed results highlight that smaller banks with niche strategies (ABB, KLB, VAB) are outperforming larger peers facing legacy asset-quality issues.
Strategic Significance
The earnings divergence signals a structural shift: banks with strong retail or SME lending franchises (ABB, KLB, VAB) are capturing market share from those burdened by corporate NPLs (SGB, EIB). SGB’s loss and EIB’s profit halving suggest unresolved credit risks, while ACB’s near-flat profit despite low NPLs indicates margin pressure. For long-term investors, the ability to sustain net interest margin and control credit costs will be key differentiators.
What to Watch
- Q3 2026 earnings releases for SGB, EIB, and LPB to see if profit declines accelerate or stabilize.
- Eximbank’s NPL ratio trajectory and any further provisioning updates.
- ABBank’s ability to maintain 80%+ profit growth in H2 2026.
- ACB’s net interest margin trend and loan growth figures.
- Regulatory changes to lending caps or capital adequacy requirements affecting smaller banks.