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MBB – Covid-19 taking a toll on FY20F earnings growth – Update

Company Note 26/03/2020    144

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  • Strong profit growth in FY19 but asset quality could come under pressure.
  • Covid-19 would depress FY20F earnings; recovery likely in FY21F.
  • Reiterate Add on recent share price weakness; TP reduced to VND26,200.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND15,650

VND26,200

3.83%

ADD

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