TCB – 1Q20: Solid performance, better asset quality – Update
- Techcombank’s (TCB) 1Q20 net profit rose 17.9% yoy to VND2,456bn, slightly below at 22.8% of our FY20F forecast.
- We cut FY20-22F EPS by 0.3-5.4% on lower loan growth and NIM forecasts.
- We reiterate our Add call with a TP of VND27,400.
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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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VND21,050
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VND27,400
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0%
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ADD
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BANKS
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