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LPB- LPB posted robust profit growth in 1H19, but asset quality showed clear signs of deterioration – Update

Company Note 14/08/2019    161

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  • Robust 1H19 net profit growth on strong income and costs cutting.
  • Deteriorating asset quality raised our concern.
  • We raise FY19F net profit forecast by 24% but expect lower profit growth in 2H19F.
  • However, we lower our TP to VND10,000.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND7,800

VND10,000

0.0%

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