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Tóm tắt:
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Saigon - Hanoi Commercial Bank origined from a regional bank, servicing loans for agriculture. Since 2006, SHB was changed to an urban joint stock commercial bank. In 2010, EBT reached VND 656.7 billion, increased by 58.2% over 2009 and exceeded 1% of the plan. EPS stood at VND 1,377. With conservative assumptions, TLS forecast that SHB‟s EAT will reach 612 billion in 2011. SHB„s chartered capital rose to 4,815 billion, EPS may reach VND 1,272. Combining two methods of valuation P/E and P/B at ratio 50:50, TLS forecast SHB stock price in 2011 would be about VND 7,000 - 8,000, higher than the current price at VND 7,000. Therefore, TLS recommend investors to HOLD this stock.
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