BANKING: 3Q25 profit clearly outpaced 1H25
Posted: Sep 29, 2025
- Net profit of listed banks under coverage in 3Q25 is forecast to rise 22% YoY, stronger than 1H25 (+16.3% YoY), supported by sustained positive credit growth. NIM in 3Q25 is expected to remain broadly unchanged compared to 6M25.
- As asset quality has yet to show a clear improvement, with NPLs and specialmention loans rising across the sector at end-1Q25, provisioning expenses in 3Q25 are expected to increase by around 10% YoY.
- We maintain our forecast for banks’ net profit to grow about 15% YoY in 2025 and keep a NEUTRAL sector rating, given the sector’s P/B is above the 3-year average level.
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