Give us your feedback

VPB – Asset protection over profit – Update

Company Note 14/05/2020    237

Share

  • VPB posted robust net profit growth (+62.7% yoy) in 1Q20 amid headwinds from the pandemic, thanks to stricter cost control and risk management.
  • 1Q20 net profit of VND2,314bn was below at 23.0% of our FY20F forecast.
  • Hence, we downgrade VPB from Add to Hold with a lower TP of VND25,000.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND23,900

VND25,000

0%

HOLD

BANKS

Please follow this link for the full report

DMCA.com Protection Status