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Tóm tắt:
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With forecasted asset growth at 41%, credit growth at 50% and deposit growth at 40% in 2009, STB expected PBT is VND1,826bn, or PAT of VND 1,397bn., equivalent to an EPS of 2,085VND/share. At the current price of 31,300, P/E forward 2009 is15 and P/B is 2.2, lower than industry average. With reasonable valuation and being one of leading commercial banks, we recommend a BUY for STB for medium and long-term investment.
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