Earnings Report /
Vietnam

Asia Commercial Bank: Robust income growth supported by CIR improvement

  • Better-than-expected income growth led by allocation of upfront fees and NIM expansion

  • Bad debt formation increased significantly in Q1 21, dragging credit costs

  • We revise up our a target price by 2.6% to VND43,500/share. Accumulate

Thanh Nguyen
Rong Viet
24 May 2021
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