MBB – Start feeling the pandemic pain – Update
- 1Q20 net profit was VND1,712bn, forming 19.7% of our FY20F forecast.
- The Covid-19 outbreak has had a negative impact on MBB in 1Q20, shrinking its loan book and increasing its bad debts.
- Our TP and rating unchanged: we expect MBB to meet our FY20F forecast.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND15,950
|
VND26,200
|
3.76%
|
ADD
|
BANKS
|
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