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ACB – 3Q20 earnings resilience on strong loan growth – Update

Company Note 02/11/2020    235

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  • 3Q20 NP rose 33.9% yoy to VND2,075bn on 20.2% yoy growth in NII and lower CIR.
  • We raise our FY21-22F EPS by 3.9-7.5% on higher loan and NIM expansion.
  • Reiterate Add with a higher TP of VND28,200/share.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND24,100

VND28,200

0.0%

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