TCB – Lower-than-expected provision expenses – Earnings Flash
- 3Q19 net profit rose 24% yoy to VND2,554bn, driven by a 16.2% yoy rise in NII and 626.7% yoy jump in investment income.
- 9M19 net profit rose 13.5% yoy to VND7,046bn, in line at 75.4% of our full-year forecast.
- We maintain our Add rating 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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VND24,750
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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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