ACB – The comeback of a major retail banking player – Initiation
- ACB’s rich retail banking expertise is a valuable asset in Vietnam’s ongoing retail banking race.
- Large write-offs for bad assets in FY17 suggest big write-backs in FY18-21F.
- We forecast a moderate net profit CAGR of 15.6% in FY19-21F.
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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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VND28,900
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VND39,500
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3.39%
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ADD
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BANKS
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