- 2022-07-22T00:00:00
- Company Research
VPB released consolidated results for H1 2022 with PBT of VND15.3tn (USD655mn; +70% YoY), which achieved 56% of our FY2022 forecast thanks to abnormal income from the bancassurance upfront fee with AIA of around VND5.5tn that was recorded in Q1 2022. If we exclude this abnormal income, consolidated business-as-usual PBT in H1 2022 completed around 45% of our full-year forecast, which implies Q2 2022 PBT of VND4.2tn — -26.4% vs Q1 2022. We see no major changes to our earnings forecast, pending a fuller review. |
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