VPB – Update – Better-than-sector business results in 1Q2025
Posted:27/05/2025
- Though NIM slightly decreased by 7 bps YoY, faster credit growth by 5.4% YTD and maintained positive Non-II growth by 5.9% YoY lead net profit to grow by 25.2% YoY.
- By the end of 1Q2025, Group 2 debt improved significantly compared to by the end of FY2024, but NPL ratio showed upward trend.
- We keep the target price of 25,250 VND/share for VPB with recommend ADD.
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