Give us your feedback

LPB – Update – 20180306

Company Note 06/03/2018    151

Share

  • The current low funding utilization rate creates headroom for high loan growth in the coming years. NIM will continue rising on the back of strong retail lending growth. We reduced our provision expense projections for FY18-FY20 as we expect that the timeline for VAMC provisioning will be longer than we had previously assumed.
  • We reiterate our ADD rating for LPB and increase the target price by 17.4% to VND19,600 as we now expect higher loan growth and lower provision expenses during FY18 to FY20 than previously expected..

Market Price

Target Price

Dividend Yield

Rating

Sector

VND14,900

VND19,600

3.36%

ADD

FINANCIALS

 

Please follow this link for the full report

DMCA.com Protection Status