BID

Ngân hàng Thương mại Cổ phần Đầu tư và Phát triển Việt Nam

VietnamBanksNgân hàngHOSENH

31.700

VND · Close 3 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Close below calibrated value

+15.8%Calibrated value vs last close

−50%At last close+100%+500%

Last close (VND): 31.700
Calibrated intrinsic value (VND): 36.700

Last close × (1 + calibrated gap / 100)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

How it is calculated

1
Measure the gap
Between the model and the last close.
2
Check the record2015–2024
What gaps of that size went on to earn over the following year.
3
Apply to the close
That return is applied to the last close.

Keep in mind

For illustration only: not a validated forecast.
No uncertainty range: the estimate is a single figure.
Older record: it has not been re-measured on the current data.

Model reliability: Medium; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: 53.5%; 12 monthsHistorical calibration; Chance the return beats the median return of its sector peers.

Assessed 30 Oct 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

12-month sector-relative outlook

−0.3percentage points

Banks12 monthsBack-test 2015–2024

Median 12-month return difference versus Banks peers, for model gaps like this one.

Not an absolute return forecast.
Not a price target.
A stock can underperform its sector and still rise.

Computed 30 Oct 2026Not updated with daily prices

Sector calibration span · percentage points

−9.5+8.4

The sector’s historical range, not a prediction interval for this stock.
Actual returns can fall outside it.

Published filingsValued 30 Oct 2026Anchored to close on 3 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

NH→Bank

Classified as bank because company type is NH (commercial bank).

ModelP/B x ROE Regression

Intrinsic Value = Fair P/B x Book Value Per Share

Estimates a fair price-to-book (P/B) multiple from how the market prices listed peer banks on their book value and returns. ROE, asset size, a bad-loan indicator and credit growth are weighed together to place this bank among its peers.

Technical details

Why this model

A bank's free cash flow does not mean what it means for an ordinary company. Book value, ROE and asset quality give a better frame of reference for valuing a bank.

How it works

A robust (Huber) multivariate regression estimates P/B from 3-year average ROE, log total assets, a bad-loan indicator and 3-year credit growth, after limiting extreme observations. Only banks the market prices on their earnings enter the fit (positive ROE, P/B at most 3.0×). The fitted P/B is multiplied by book value per share. A weak fit (R² below 0.4), a fit where higher ROE does not mean a higher P/B, and large state-owned banks use the peer median P/B adjusted for ROE.

Best for

Commercial banks where book value represents real economic assets and ROE reflects sustainable profitability.

Model Inputs

Avg ROE→19.12%

Valuation method: ROE-adjusted peer median
Bank peer-model fit (R²): N/A
Peers used: 3

This valuation uses an ROE-adjusted peer median. R² does not apply to this method.

Valuation

We take the model’s gap to the last close, read what gaps of that size went on to earn over the following year in our 2015 to 2024 record, and apply that to the last close.

Last close (VND)→31.700

Calibrated value vs last close→+15.8%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

36.700

What feeds each step— click a source to highlight it in the statements

Profitability & book value19.12%regression type: soe peer median tiltfallback used: yes

Cross-sectional featuresr squared: 0n obs: 3

BID among Banks

Every stock in the sector, BID marked: calibrated gap vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is BID. Drag to turn; open another stock from its bead.

Feeds valuation:Model inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Cash and cash equivalents (Bn. VND)	·	13,075	10,773	11,029	13,745	12,661	12,294	14,117	10,508	8,203	7,107	6,589	5,393	3,863
Fixed assets (Bn. VND)	·	13,123	12,165	11,096	10,539	10,741	10,422	10,605	10,729	10,349	9,780	8,535	6,672	5,201
Tangible fixed assets	·	7,541	6,844	6,401	6,103	6,338	6,162	6,295	6,415	5,949	5,430	4,555	3,458	2,683
Leased assets	·	0	0	0	0	0	0	0	0	0	0	0	0	241
Intagible fixed assets	·	5,582	5,321	4,695	4,436	4,403	4,260	4,310	4,314	4,399	4,349	3,980	3,214	2,278
Long-term investments (Bn. VND)	·	4,374	3,424	3,113	2,968	2,848	2,761	2,738	2,612	2,580	4,328	5,251	4,783	4,393
Investment in joint ventures	·	0	0	0	0	0	0	0	0	0	0	0	0	3,286
Investments in associate companies	·	4,295	3,349	3,012	2,872	2,730	2,643	2,626	2,523	2,410	3,994	4,871	4,300	516
Other long-term assets (Bn. VND)	·	183	183	215	215	216	215	215	213	253	457	539	622	919
Less: Provision for diminuation in value of long term investments	·	−104	−108	−114	−118	−98	−98	−103	−124	−83	−124	−160	−139	−328
TOTAL ASSETS (Bn. VND)	·	3,330,826	2,760,907	2,300,869	2,120,677	1,761,696	1,516,686	1,489,957	1,312,866	1,202,284	1,006,378	850,507	650,340	548,386
LIABILITIES (Bn. VND)	·	3,157,273	2,615,923	2,178,002	2,016,558	1,675,367	1,437,039	1,412,304	1,258,377	1,153,450	962,266	808,171	616,734	516,094
OWNER'S EQUITY(Bn.VND)	·	173,553	144,984	122,867	104,119	86,329	79,647	77,653	54,490	48,834	44,112	42,335	33,606	32,040
Paid-in capital (Bn. VND)	·	70,214	68,975	57,004	50,585	50,585	40,220	40,220	34,187	34,187	34,187	34,187	28,112	28,112
Other Reserves	·	1,000	453	346	268	268	268	268	179	152	87	54	0	0
Foreign Currency Difference reserve	·	−597	−701	−804	−760	−368	50	130	157	54	−112	−43	−45	−57
Undistributed earnings (Bn. VND)	·	44,786	36,265	30,331	21,504	8,673	13,517	13,857	12,271	7,092	4,938	4,257	3,517	3,576
TOTAL RESOURCES (Bn. VND)	·	3,330,826	2,760,907	2,300,869	2,120,677	1,761,696	1,516,686	1,489,957	1,312,866	1,202,284	1,006,378	850,507	650,340	548,386
MINORITY INTERESTS	·	5,564	5,235	4,966	4,723	3,194	3,235	3,130	3,048	2,873	1,604	1,386	335	253
Balances with the SBV	·	123,630	92,341	51,616	111,418	68,851	49,432	135,255	50,185	29,419	36,711	21,719	23,098	12,835
Placements with and loans to other credit institutions	·	457,353	279,972	211,812	221,178	135,940	85,348	54,290	104,113	118,355	61,865	67,098	50,062	47,656
Trading Securities, net	·	30,152	12,734	6,972	1,701	6,069	10,170	6,346	674	9,614	10,016	8,873	8,431	1,558
Trading Securities	·	30,184	12,773	7,004	1,749	6,083	10,184	6,380	790	9,708	10,086	8,904	8,461	1,590
Provision for diminution in value of Trading Securities	·	−31	−39	−31	−47	−14	−15	−34	−117	−94	−70	−31	−30	−32
Derivatives and other financial liabilities	·	0	663	0	1,038	192	168	92	80	194	0	102	0	240
Loans and advances to customers, net	·	2,338,010	2,018,112	1,737,196	1,484,169	1,325,529	1,195,240	1,102,366	976,334	855,536	713,633	590,917	439,070	384,890
Loans and advances to customers	·	2,372,955	2,056,082	1,777,665	1,522,222	1,354,633	1,214,296	1,116,998	988,739	866,885	723,697	598,434	445,693	391,035
Less: Provision for losses on loans and advances to customers	·	−34,946	−37,970	−40,469	−38,053	−29,104	−19,056	−14,632	−12,404	−11,350	−10,065	−7,517	−6,623	−6,145
Investment Securities	·	285,463	277,838	222,393	235,636	177,089	125,115	138,284	133,188	146,477	144,413	121,565	91,817	68,072
Available-for Sales Securities	·	171,882	157,919	127,572	162,283	111,675	112,192	121,819	111,419	118,098	113,657	87,421	73,993	56,842
Held-to-Maturity Securities	·	113,629	121,120	95,722	73,735	65,711	13,501	23,262	29,848	38,386	36,824	36,849	19,528	11,565
Less: Provision for diminution in value of investment securities	·	−49	−1,201	−902	−381	−298	−579	−6,797	−8,079	−10,006	−6,068	−2,705	−1,704	−335
Other Assets	·	65,646	52,886	45,641	38,282	21,776	25,736	25,864	24,443	21,559	18,526	19,859	21,014	19,678
Due to Gov and borrowings from SBV	·	218,826	168,389	35,896	152,753	25,340	17,223	108,760	105,297	77,535	43,392	45,402	20,121	16,496
Deposits and borrowings from other credit institutions	·	417,965	232,954	181,831	177,221	98,007	82,261	76,683	79,198	91,979	92,499	79,758	86,186	47,799
Deposits from customers	·	2,222,992	1,953,165	1,704,690	1,473,598	1,380,398	1,226,674	1,114,163	989,671	859,985	726,022	564,693	440,472	338,902
Derivatives and other financial liabilities	·	231	0	328	0	0	0	0	0	0	103	0	75	0
Funds received from Gov, international and other institutions	·	12,043	11,981	12,208	13,238	14,350	12,853	12,386	12,296	11,723	11,362	35,295	35,445	67,245
Convertible bonds/CDs and other valuable papers issued	·	225,408	198,900	189,487	157,052	123,682	63,237	62,772	39,991	83,738	66,642	65,542	20,077	33,254
Other liabilities	·	59,809	50,533	53,562	42,697	33,590	34,792	37,540	31,922	28,489	22,245	17,481	14,358	12,397
Capital	·	90,089	84,789	72,711	66,204	65,145	54,780	54,780	34,397	34,370	34,305	34,272	28,142	28,142
Reserves	·	33,711	19,397	15,662	12,448	9,685	8,064	5,755	4,618	4,446	3,377	2,464	1,657	380

Earnings Quality

Fiscal year 2025

Fair

Margin StabilityConsistency of profit margins

100

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

4/9

Neutral

Sharpe

−0.18

Negative

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✗Lower Leverage

✗Better Liquidity

✗No Dilution

✓Margin Up

✗Turnover Up

Price Risk

Momentum

+4.3%

Volatility

22.6%

Max Drawdown

−36.2%

Key Ratios

Fiscal year 2025

1.55P/B

P/E: 8.69
ROE: 19.1%
ROA: 1.0%
EPS: 4.108
BVPS: 23.075
Net Margin: 33.4%
Rev Growth: +12.1%
Profit Growth: +19.2%
Div Yield: 1.3%

Company Overview

Shares outstanding: 7,778M
Charter Capital: 77,782B VND
Sector (ICB L2): Ngân hàng
Industry (ICB L3): Ngân hàng
Sub-industry: Ngân hàng
Company Type: NH

Ownership network

Common ownership links for BID. Hover for detail, select a link to open it.

Shareholders

Ngân Hàng Nhà Nước Việt Nam

State

76.7%

5,968M

2026-08-25

KEB Hana Bank, Co., Ltd.

Inst

14.2%

1,105M

2026-08-25

Tổng Công ty Đầu Tư Và Kinh Doanh Vốn Nhà Nước

State

1.8%

137M

2026-08-25

Vietnam Enterprise Investments Limited

Inst

1.1%

85.7M

2026-08-25

Hanoi Investments Holdings Limited

Inst

0.6%

45.7M

2026-08-25

amersham industries limited

Inst

0.3%

21.7M

2026-08-25

Công ty TNHH Bảo hiểm Nhân thọ Prudential Việt Nam

Inst

0.3%

19.7M

2026-08-25

Công Đoàn Ngân Hàng TMCP Đầu Tư Và Phát Triển Việt Nam

Inst

0.2%

16.1M

2024-12-31

Công ty TNHH Manulife (Việt Nam)

Inst

0.2%

15.8M

2026-08-25

Darasol Investments Limited

Inst

0.2%

14.3M

2026-08-25

Quỹ Đầu tư Chứng Khoán Năng động DC

Inst

0.2%

13.1M

2026-08-25

DC Developing Markets Strategies Public Limited Company

Inst

0.2%

11.3M

2025-03-03

KIM Vietnam Growth Equity Fund

Inst

0.1%

10.4M

2026-08-25

Quỹ Đầu tư Cổ phiếu Việt Nam Chọn lọc

Inst

0.1%

8.5M

2026-08-25

Board & Management

Lê Kim Hòa

Member of Management Board

Trần Phương

Deputy General Director

Lại Tiến Quân

Deputy General Director

Cao Cự Trí

Member of Supervisors Board

Tạ Thị Hạnh

Head of Supervisors Board

Top connections

SJG99.8%MIE99.6%TVN93.9%VGV87.3%VVN82.8%VCB76.7%CTG2 links VNP65.8%DVN65.0%SEA63.4%QTC53.8%VGT53.5%

Listed group

BSICông ty Cổ phần Chứng khoán BIDV
Subsidiary: over 50% held
52.0%
2026-06-30
BICTổng Công ty Cổ phần Bảo hiểm Ngân hàng Đầu tư và Phát triển Việt Nam
Subsidiary: over 50% held
51.0%
2026-03-31

Read from the shareholder lists: control above 50% of the shares (VAS 25), significant influence at 20% or more (VAS 07). Each date is that of the disclosure.

Computed 30/10/2026

Calibrated intrinsic value vs last close

Earnings-capitalised value

How it is calculated

Keep in mind

12-month sector-relative outlook

Valuation Breakdown

BID among Banks

Financial Statements

Earnings Quality

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Listed group

Ownership network

Listed group

BID among Banks