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VIB – Stellar 1H20 performance despite the pandemic – Update

Company Note 31/08/2020    150

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  • VIB’s 2Q20 net interest income and non-interest income surged 24.1% yoy and 56.7% yoy, respectively, driving 2Q20 net profit up 26.8% yoy.
  • 1H20 net profit grew 29.5% yoy to VND1,885bn, forming 53.5% of our FY20F forecast.
    Reiterate ADD with higher TP of VND26,300 on the imminent migration to HOSE.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND22,000

VND26,300

0%

ADD

FINANCIALS

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