Published Date: 25/09/2024
- We expect BID’s net profit in 2024/25 to increase by 17%/20% yoy thanks to sustained credit demand of 14% and NIM improvement of 23 bps in 2025.
- We forecast that BID’s NPL ratio will reach 1.3% in 2024 (+5 bps yoy) while LLR decline to 150% due to increasing NPL write-off.
- Reiterate to Hold with lower TP of 53,500VND/share.
