MBB – Start feeling the pandemic pain – Update
- 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.
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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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VND15,950
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VND26,200
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3.76%
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ADD
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BANKS
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