MBB – AGM 2020: Key takeaways – AGM NOTE
- MBB guides for a 10% yoy decline in FY20F pretax profit; but in the best case scenario, profit growth could remain flat in FY20F.
- Digitalisation will be prioritised over physical network expansion to improve cost-to-income ratio from 37.3% in FY19 to 35.5-36.5% in FY20F.
- Reiterate Add and TP of VND26,200
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Market Price
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Target Price
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Dividend Yield
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Rating
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Sector
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VND17,550
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VND26,200
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0%
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ADD
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BANKS
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