TCB – Company brief [BUY +12%] 1Q20 Highlights & 2020 vision
Yesterday, TCB’s representatives had an online meeting with investors regarding to 1Q20 performance and 2020 vision. The most noticeable point is impressive outcome from digitization with rapid increase in e-banking transaction. Further emphasizing on technology may lift the bank’s CIR to above 35% in 2020. NIM is expected at around 4.5%-4.7% in 2020 thanks to lower funding cost. But they have not revealed target net profit.