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MBB – Starting the year with a strong quarter – Update

Company Note 23/04/2019    239

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  • 1Q19 net profit rose 24.8% yoy, and beating our expectation at 28% of our full-year forecast due to strong loan growth and bancassurance income.
  • MBB plans to increase its chartered capital by nearly 20% in FY19.
  • We increase our target price to VND34,000, maintain Add.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND21,300

VND34,000

2.82%

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