Sai Gon Thuong Tin JSCB (STB VN/Hold/TP: VND58,300) - Streamlining for the next growth phase
Credit growth is projected at 16% in 2025 (vs. 11.7% in 2024), supported by recovery in real estate, wholesale, and manufacturing sectors. NIM is...
441 Views
Sacombank (STB) - Stronger Credit Growth in New Growth Cycle - Update
We increase our target price (TP) for STB by 22.6% to VND62,400/share but downgrade our rating to OUTPERFORM from BUY as STB’s share price has...
434 Views
Sai Gon Thuong Tin CJSB (STB VN) - Approaching a Turning Point
FY24 impressive PBT growth: The PBT of Sacombank (STB) surged 32.6% YoY in FY24, supported by: 1) lower provisioning (VND1,974bn; -46.5% YoY)
412 Views
STB [BUY +31.2%] - VAMC Collateral Sale to Boost CAR Ratio in 2025F; Attractive Valuation - Update
We increase our target price (TP) for STB by 17.5% to VND43,700/share and maintain our BUY rating. Our higher TP is due to (1) the positive impact...
348 Views
Sacombank (STB) - Delaying Income from Phong Phu Debt Sale to 2025
Our lower TP is due to a 0.9% decrease in our aggregate 2024-2028F projected NPAT (- 3.1%/+12.9%/-4.8%/-2.6%/-4.1% in 2024/25/26/27/28F,...
495 Views