VPB – Lower-than-expected provision expenses – Earnings Flash

• VPB’s 2Q20 net profit grew 44% yoy and 27.5% qoq, thanks to well-managed operating expenses and subdued provision expenses.
• 1H20 net profit rose 51.7 % yoy to VND5,265bn, making up 63.7% of our full-year forecast.
• Maintain Hold with an unchanged TP of VND25,000.

Please follow this link for the full report