VPB – Lower-than-expected provision expenses – Earnings Flash
- VPB’s 2Q20 net profit grew 44% yoy and 27.5% qoq, thanks to well-managed operating expenses and subdued provision expenses.
- 1H20 net profit rose 51.7 % yoy to VND5,265bn, making up 63.7% of our full-year forecast.
- Maintain Hold with an unchanged TP of VND25,000.
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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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VND22,700
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VND25,000
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0%
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HOLD
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BANKS
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