Earnings Report /
Vietnam

TCB: Maintaining competitive advantages

  • CASA ratio slightly decreased in Q1 21 due to seasonality of corporate customers

  • NPL ratio expected to be higher towards year-end, but TCB not projected to suffer significant increase in credit costs

  • We maintain our target price of VND50,900/share and Buy recommendation

Thanh Nguyen
Rong Viet
25 May 2021
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