STB_AGM Key Takeaways

We attended STB’s AGM on Apr 25. Dividend payment and NPA handling progress were once again the key areas of discussion.

Details

STB targets 2023E PBT of VND9.5 tn (+50% YoY). 1Q23 PBT was VND2.4 tn (+50% YoY), fulfilling 25% of the bank’s target and 38% of our forecast.

STB targets credit growth of 12% YoY in 2023E, asset growth of 11% YoY, deposit growth of 11% YoY, and an NPL ratio of below 2.0%. In 1Q23, credit growth was slightly above 2% YTD.

For the complete report, please access here: STB_AGM_25.04.23

Analyst: Tanh Tran, tanh.tran@yuanta.com.vn