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MBB – Start feeling the pandemic pain – Update

Company Note 04/05/2020    152

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  • 1Q20 net profit was VND1,712bn, forming 19.7% of our FY20F forecast.
  • The Covid-19 outbreak has had a negative impact on MBB in 1Q20, shrinking its loan book and increasing its bad debts.
  • Our TP and rating unchanged: we expect MBB to meet our FY20F forecast.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND15,950

VND26,200

3.76%

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