- 2023-07-20T00:00:00
- Company Research
LPB released H1 2023 results with TOI of VND6.0tn (USD255mn; -14.4% YoY) and bottom-line net profit of VND2.0tn (USD83mn; -31.7% YoY), achieving 38.7% and 38.3% of our FY2023 forecasts, respectively. Excluding our upfront bancassurance fee assumption, H1 2023 net profit completed 45.4% of our full-year forecast. LPB’s Q2 2023 NPAT was VND708bn (-43.0% QoQ; -50.6% YoY). We see potential downside risk to our earnings forecasts for LPB, pending a more extensive review. |
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