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VPBank Model Update: Neutral Rating by Trường Nguyễn is a document available to read on EtoBox.

What is VPBank Model Update: Neutral Rating about?

J.P. Morgan has updated its model for VPBank, lowering FY25-27 EPS estimates by 7-9% due to reduced net interest margins, and adjusting the price target to D19,000 from D21,000. The bank maintains a Neutral rating, highlighting its successful shift towards retail and SME sectors, despite challenges faced by its consumer finance arm, FE Credit. The revised forecasts indicate a gradual recovery and growth potential, with ROE estimates of 11.7%, 12.9%, and 14.1% for FY25, FY26, and FY27 respectively.

Author

Trường Nguyễn

Language

EN