MBB [M-PF +4.6%] - Q1 2016 put down as a transition quarter - Update

Company Research

16 Jun 2016

We maintain a MARKETPERFORM rating for MBB with an unchanged target price of VND15,500 as there were no significant improvements in Q1 2016 compared to 2015’s results. We still have a positive orientation toward MBB, but reiterate our need to see positive improvement in credit performance before we re-rate.
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