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MBB – Strong in all facets – Update

Company Note 26/01/2021    154

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  • 4Q20 net profit grew 3.2% yoy to VND1,931bn as loan to customers accelerated 19% yoy in 4Q20, driven by individual and SME lending.
  • MBB posted FY20 net profit of VND8,263bn (+5.6% yoy), in line with our expectations at 96% of our FY20 forecast.
  • We maintain our Add call with a higher TP of VND35,900

Market Price

Target Price

Dividend Yield

Rating

Sector

VND24,000

VND35,900

0%

ADD

FINANCIALS

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