VCB – AGM 2020: Key takeaways – AGM NOTE
- VCB expects 6M20 pretax profit to be on par with 6M19, forming 42.7% of our FY20F forecast.
- NPL ratio was contained at 0.8% in 5M20 amid the Covid-19 outbreak.
- We downgrade VCB from Add to Hold as share price is approaching our TP.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND83,300
|
VND86,200
|
0.96%
|
HOLD
|
BANKS
|
Please follow this link for the full report
You Might Be Interested
Company Note
31
TPB’s 1Q23 net profit grew 8.8% yoy to VND1,413bn (fulfilling 21% of our FY23F forecast). TPB’s NP growth is expected to slow down to 9%/18% yoy in FY23-24F (2020-22 CAGR of 33.6%). Reiterate ADD with unchanged TP of VND31,000. Market…
Company Note
19
DGW is one of market leaders in ICT product distribution with more than 6,000 points of sale (POS) in Vietnam. FY23F net profit is expected to drop 28.8% yoy following weak domestic demand but will get back to 23.3% growth…
Company Note
21
1Q23 net profit (NP) slid 30% yoy to VND1,629bn due to lower gasoline crack spread and lower petrochemical spread. FY23F NP is expected to drop 46.3% from FY22 record level due to GRM compress, but still 17.7% higher than FY21…
VI
EN
JA
ZH
