MBB – Robust overall growth – Update
- 9M19 net profit rose 27.9% yoy to VND6,142bn driven by strong growth in all segments and was above at 82.1% of our previous full-year forecast.
- Stellar PPOP growth of 36% yoy in 9M19 was underpinned by NIM expansion and CIR improvement.
- We maintain our Add rating with a higher TP of VND34,300.
Market Price
|
Target Price
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Dividend Yield
|
Rating
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Sector
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VND22,200
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VND34,300
|
2.7%
|
ADD
|
BANKS
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