Banks poised for Q3 profit growth amid margin pressure

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• Smart Money Flow on 19/10: Heavy Selling at ACB Across the Board

  Foreign investors net sold over 866 billion VND in the 19/10 session, their 12th straight session of net selling, while proprietary trading by securities firms net bought over 281 billion VND on HOSE, their second straight day of buying. Foreign net selling was largest at VCB (nearly 104 billion VND), VHM (over 101 billion), ACB (nearly 93 billion) and VJC (about 72 billion), while foreigners net bought nearly 151 billion VND of FRT. Proprietary trading focused on buying CTG (nearly 230 billion VND) and KBC and VPB (over 133 billion each), but net sold over 220 billion VND of ACB. In aggregate, ACB recorded net selling above 313 billion VND and FRT about 144 billion VND, close to foreigners' 151 billion VND net buying.

  Vietstock·19/10, 12:23▼ ACBACBforeign investorsproprietary trading
• Banks begin sharp cuts to deposit rates across many terms on the afternoon of October 19

  The State Bank of Vietnam (SBV) asked credit institutions to cut deposit rates by at least 0.5% a year for terms of 6 months or longer, and lending rates by 1.5-2% a year for production, business and priority sectors, while avoiding competitive rate hikes. LPBank cut deposit rates across all terms from 1 to 36 months, with its online 12-month rate now at 6.7% a year and 48-60 month rates at 5.2%. VietBank lowered online rates by 0.5 percentage points for terms of 6 to 36 months, bringing its 6-8 month rate to 5.4% a year. The central bank warned that banks failing to cut rates may face a review of their remaining credit quotas this year, lower targets next year, or higher safety ratios.

  CafeF·19/10, 08:45▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratesState Bank of Vietnamsavings accounts
• Governor: 'Interest rates on existing loans should also be considered for cuts'

  Governor Phạm Đức Ấn has asked banks to prioritize rate cuts for production and business loans, applied selectively rather than across the board, and to consider applying them to existing loans. The average lending rate rose 0.2 percentage points to 10.7% in August, about 3 points higher than a year earlier, while legacy floating-rate loans for individuals reached 12-14%, and some car loans 16-17%. Banks were told to cut operating costs, share profits and reduce funding costs, including lowering deposit rates for terms of six months or more by at least 0.5%. Several banks, including BIDV, Vietcombank, Agribank and Sacombank, have announced preferential loan packages with rate reductions of up to 2 percentage points.

  VnExpress·19/10, 08:09▲ VNINDEX▼ ACB▼ BID▼ CTGinterest ratesState Bank of Vietnamcredit
• Agribank, Vietcombank, BIDV, MB, ACB, Sacombank, LPBank, VietBank, Nam A Bank Simultaneously Cut Lending Rates

  Following directives from the Government and the State Bank of Vietnam, several banks have simultaneously cut lending rates by 1.5–2 percentage points per year for priority loans and sectors. Agribank reduced rates by up to 2% per year from 19/10, setting aside about VND 2,000 billion, while BIDV launched a preferential program on 15/10 for short-term VND loans starting from 6% per year. Vietcombank has committed to cutting rates by at least 2% by year-end, while MB is cutting 1.5% per year for five priority sectors and may apply up to 2% in some cases. Sacombank will allocate VND 40,000 billion to corporate customers with a 2% rate cut, and ACB is cutting rates by 1.5–2% per year for businesses.

  CafeF·19/10, 06:53• ACB• BID• LPB• MBBinterest ratesbankscredit
• Agribank, Vietcombank, BIDV, ACB, Sacombank, LPBank, VietBank simultaneously cut lending rates

  Following directives from the Government and the State Bank of Vietnam, Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank have simultaneously launched lending rate cut programmes, typically by 1.5-2 percentage points for priority sectors. Agribank will cut lending rates by up to 2% a year from October 19, with about VND 2,000 billion allocated, and continues a VND 70,000 billion preferential credit package. BIDV's preferential programme, starting October 15, 2026, offers loans from 6% a year on short-term VND lending across its system. Vietcombank has committed to cutting rates by at least 2% by year-end, while Sacombank will allocate VND 40,000 billion in preferential capital with a 2% reduction. VietBank is rolling out a VND 3,000 billion package with cuts of at least 1.5% a year until June 30, 2027.

  CafeF·19/10, 06:53• ACB• BID• LPB• STBinterest ratesbankscredit
• Outstanding credit as of October 14 tops 20.7 million billion dong; banks agree to cut lending rates after meeting with the State Bank on the morning of October 19

  As of October 14, 2026, outstanding credit to the economy reached 20,721,583 billion dong, up 11.44% from the end of last year and 16.73% year-on-year. On the morning of October 19, State Bank of Vietnam (SBV) Governor Phạm Đức Ấn met with chairs and CEOs of commercial banks, and the banks agreed to cut interest rates. Specifically, listed deposit rates for terms of 6 months or more will fall by at least 0.5%/year, while lending rates will drop by 1.5–2%/year, focusing on production, business and priority sectors. The backdrop includes Middle East conflict driving up oil prices, several major central banks raising rates and a stronger US dollar, all of which pressure Vietnam's monetary policy. The SBV also asks banks to channel credit into production and business while tightly controlling lending to risky sectors, including real estate.

  CafeF·19/10, 05:08▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratescreditbanks

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• Saudi Arabia postpones big investor conference to 2027 as Iran-backed Houthis escalate attacks on kingdom

  Saudi Arabia has postponed its major annual investor conference until 2027 as Iran-backed Houthi militants escalate missile and drone attacks on the kingdom. The Future Investment Initiative had been scheduled for Riyadh from October 26 to 29. The decision follows a Houthi attack on King Khalid International Airport in Riyadh on October 10, which left at least 12 people dead and more than 300 injured. Organizers said in an email that new dates will be announced soon.

  CNBC·19/10, 15:24▲ XAU/USDSaudi ArabiaHouthigeopolitics
• Russia fires mysterious weapon at Kyiv, shockwaves spread; President Putin appears in rare image, drawing global attention

  On the night of 18 Oct, Russia launched a coordinated strike on multiple Ukrainian targets using ballistic missiles, cruise missiles and Geran UAVs, focused on Kyiv. According to TST, around 10 ballistic missiles of the Iskander-M, S-400 or KN-23 types may have been used in the first wave; an above-ground metro station on Kyiv's left bank was reported damaged, disrupting rail and metro services, and videos of blue flashes led observers to suspect a new weapon. In western Ukraine, a 330 kV transformer station near Kovel may have been targeted. Meanwhile, Putin, who rarely appears in military uniform, visited a command post and stressed establishing a “security zone” along the border; blogger Yuri Podolyaka argued Moscow no longer treats these areas as bargaining chips. Front-line correspondent Alexander Kots said the part of Donetsk still controlled by Ukraine is just over 2,700 km².

  CafeF·19/10, 15:22▲ XAU/USDUkraineRussiageopolitics
• Semiconductor Sell-Off: 5 Stocks to Buy on the Dip

  The article attributes the semiconductor selloff to investor doubts about the durability of AI infrastructure spending, even as cloud companies report strong demand for AI chips. It highlights five stocks: Nvidia (forward P/E just above 13.5 on fiscal 2028 estimates), Broadcom (custom AI chips, with that revenue expected to quadruple to $230 billion over two years; forward P/E of 11), AMD (riding inference and agentic AI demand), Cerebras Systems (high risk-reward; the company claims 30 times the inference speed of GPUs) and TSMC (forward P/E of 18 on 2027 estimates).

  Yahoo Finance·19/10, 15:20▼ NVDAsemiconductorsAI investmentNVDA
• Tom Lee’s Bitmine Adds $30 Million in Ethereum as Buying Nears Its Finish Line

  Bitmine bought another 12,535 ETH (about $30 million), lifting its holdings to 6,041,481 ETH, or 4.9% of supply and 99% of its 5% target. Chairman Tom Lee blamed the crypto selloff on a broad risk-off shift, including AI funding and safety worries, U.S.-Iran tensions, midterm jitters and rising bond yields, and called the dip a historically attractive risk-reward entry. Total holdings reached $15.1 billion as of Oct. 18, including 215 Bitcoin, $582 million in cash and marketable securities, and other investments. About 84% of its ETH (5,067,309 tokens) is staked via its MAVAN platform, with projected annualized revenue of roughly $309 million. The position is currently underwater on paper because much of it was bought at higher prices.

  Decrypt·19/10, 15:13▲ ETH/USDTcryptoETHUSDTBitmine
• Opinion: The Most Important Number in Taiwan Semiconductor's Earnings Report Was 68%

  The author argues the most important figure in TSMC's Q3 report is 68%, the share of revenue from high-performance computing (HPC), which grew 22% from the prior quarter. Revenue reached $46.72 billion, up 41.2% year over year, net income rose 68.7%, and gross margin hit 66.4%. Processes at 7nm and below made up 79% of wafer revenue, with 3nm at 33% and 2nm at 8%. TSMC guided Q4 revenue to $52.3–54.3 billion and expects roughly 44% full-year growth in U.S. dollars. The author remains bullish, saying ongoing demand for advanced AI chips should keep profits rising.

  Yahoo Finance·19/10, 15:05• NVDATSMCsemiconductorsearnings
• Why Meta's Q3 earnings could be a little hard to interpret

  Meta is reporting its third-quarter earnings after the market closes Wednesday, and Yahoo Finance's Brian Sozzi says the report will be hard to interpret. Recent good news on Meta's AI products, including new models and an AI agent, may not appear directly in the results but will likely be discussed on the earnings call. The key uncertainty is how investors will react if Meta raises its capex outlook again: it could be seen as fueling those products, or as overspending on offerings not yet reflected in financials. Sozzi expects the market to give Meta the benefit of the doubt on higher capex, as long as the increase does not shock investors.

  Yahoo Finance·19/10, 15:00• METAearningsMETAartificial intelligence