大提琴家的股市投资笔记 / The Cellist's Share Investment Note: Oversea business of PBBANK

First of all,
if you think that there is no need to care about the oversea operations of PBBANK,
feel free to close this article~

Just like what I mentioned in my previous article <<My opinion about oversea markets>> which published at 22nd October 2017,
almost 10% of the total profit before tax were contributed by oversea operations of PBBANK.
At the future, (at least 20 years maybe......)
I believe that the profit contributed by oversea operations will be more significant when the economic of Cambodia and Vietnam become very good.

So.......
let's begin:

9.7% of total profit before tax were contributed by oversea operations.

Frankly speaking,
I was expecting that it will be more than 10% for year 2017,
but I didn't expect that local operations were so much better......
and the growth of oversea operations have slightly decreased..........

The oversea operations of PBBANK mainly operating in 5 countries,
three of the areas are:

Hong Kong, Cambodia and Vietnam.

Unexpectedly,
there was a great improvement for Hong Kong operations,
whereas the Cambodia operations which I expected the most, significantly slowed down.........

As for Vietnam operations,
since there was a change of shares holding of Public Bank Vietnam Limited,
so the operation result of year 2016 only showing 9 months result,
while for year 2017 it is full year result,
so we can't just compare directly.

First,
let's have a look at the Hong Kong operations:

Excellent performance~

The prospects by the management:

More challenging operating environment, it is Hong Kong, definitely challenging in financial market........
The group will continue to grow..........
Just those common sentences that we always seen in other reports..........

Next, Cambodia operations:

Actually I was disappointed with the operations result..............
Anyhow the deposits from customers increased~

Also mentioned in the annual report,
the Campu Bank is the largest foreign-owned bank in Cambodia:

There is Lonpac in Cambodia too~

Then the prospects:

Positive outlook for the economic growth of Cambodia,
due to business-friendly investment policies by the government and key economic sectors.
Of course,
there are some uncertainty to the business environment such as increases in minimum wage and run-up to general elections in 2018.

Next, Vietnam operations:

What caught my eyes the most,
was that 6 new branches were opened last year.
So the total number of branches increased from 7 to 13.
Wow..........so aggressive..........
Is this the PBBANK that I am familiar with?

Future strategies were to open new branches and offering new prodcuts and services.
Seems like PBBANK is expecting a lot from the future of Vietnam.

The last two countries:

Seems like the operation at LAOS was not doing good,
lower pre-tax profit due to higher loan provisioning for borrowers affected by economic slowdown.
The customer deposits also declined by 28.9% due to tight market liquidity.
Currently there are 4 branches in LAOS.

Finally:

There are 3 branches in Sri Lanka,
the operations result for year 2017 seems not bad,
the profit before tax grew by 33.4%.

Anyway,
seems like PBBANK is putting the focus on expanding operations in Vietnam.

That's all for the oversea operations which printed in the annual report,
maybe some people will think that I am just wasting time to study about oversea operations of PBBANK.
Well......
I just wanted to look at the annual report from another point of view~

Thanks for reading.

PS: I just realized that there was no FOLLOW gadget at my blog, so I added it at the right hand side.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.