MBB – Strong in all facets – Earnings Flash
- FY18 pre-tax profit of VND7,767bn (+68.3% yoy) overshot company target by 14%, and accounted for 99% of our forecast.
- Robust net profit growth was driven by strong core earnings growth and a fall in provision expense as we had expected.
- Superb performance in FY18 prompts us to reiterate our Add rating on MBB. We maintain our forecasts for now.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND21,200
|
VND31,100
|
2.7%
|
ADD
|
BANKS
|
Please follow this link for the full report
You Might Be Interested
Company Note
36
MWG plans for FY24 revenue and net profit of VND125tn/VND2.4tn, respectively, increases of 6% yoy and 14 times compared to FY23. According to management, BHX will begin to record profit in 1Q24 and targets to reach net profit of VND1tn-VND2tn…
Company Note
33
We maintain our Hold rating with 11.9% upside and a 0.0% dividend yield. We increase our TP by 11.0% while the stock price has increased 5.6% since our last report. The main drivers of our recommendation are the decline in…
Company Note
24
We maintain our ADD rating with 50.2% upside. We decrease our TP by 22.3% while the share price has increased 8.5% since our last report. The main driver of our TP change is that we apply a 40% discount rate…
VI
EN
JA
ZH
