Analyst Pin-board: VPB – Update on 1Q2020 Business Performance
In 1Q2020, VPB maintained the highest PBT growth amongst banks on our watch list. For the next few quarters, we expect the pandemic impacts to lend more weight on the bank’s performance upon more obvious income slowdown and the escalation of provision booking. However, the timely and appropriate response to the virus situation, coupled with low leverage (asset leverage of 8.9x) and strong capital (CAR Basel II at 11.14%) should allow the bank to withstand the epidemic situation. Longer term, we expect that the overall growth outlook should remain positive when the pandemic impact is over, and VPB would still be able to achieve a higher growth than sector average.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
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