HDB [OUTPERFORM +14.6%] - Weak NIM dynamics hold back our valuation - Update
  • 2021-11-10T00:00:00
  • Company Research

We increase our target price (TP) by 2.9% and maintain our OUTPERFORM rating for HDB due to (1) increasing 2021-2025F NPAT-MI by an aggregate of 3.6% and (2) the positive effect of rolling over our TP to end-2022. 

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