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    MSB   VN000000MSB9

VIETNAM MARITIME COMMERCIAL JOINT STOCK BANK

(MSB)
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Prudential Vietnam Assurance Private Ltd. and Vietnam Maritime Commercial Joint Stock Bank ('MSB') Renew Their Strategic Bancassurance Partnership for A 15-Year Term

03/03/2021 | 03:39am EDT

Prudential Vietnam Assurance Private Ltd. and Vietnam Maritime Commercial Joint Stock Bank ("MSB") have renewed their strategic bancassurance partnership for a 15-year term. The new agreement significantly expands the geographical scope to include North Vietnam, where MSB is headquartered. With this expansion, Prudential Vietnam will become MSB's single partner nationwide. Prudential Vietnam is a leading life insurance company with over 1.6 million customers and a footprint of over 350 sales offices across 63 provinces. MSB is a fast-growing bank with 62 branches and 201 transaction offices in 51 cities/provinces in Vietnam; as at end-December 2020, MSB had more than 2.36 million retail customers and 57,000 corporate clients. Prudential and MSB have been collaborating since 2013 and have built a highly successful bancassurance partnership which delivered a 34% compound annual growth rate in APE between 2014 and 2020. The expanded partnership reinforces Prudential Vietnam's strong presence in bancassurance, the fastest growing channel in Vietnam, which accounted for 30% of the overall market in 2020 compared to 13% in 2017. Prudential Vietnam is the leader in bancassurance in Vietnam with more than a 20% share of new business from this channel, reflecting its strong product proposition, relationships and customer service capabilities. The expanded alliance is also strongly aligned with MSB's own aspiration of being a partner in its customers' lives, by providing a suite of world-class insurance solutions and advanced digital services.


© S&P Capital IQ 2021
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Financials
Sales 2020 6 833 B 301 M 301 M
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 33 842 B 1 483 M 1 489 M
Capi. / Sales 2020 4,95x
Capi. / Sales 2021 3,78x
Nbr of Employees 4 927
Free-Float 85,4%
Chart VIETNAM MARITIME COMMERCIAL JOINT STOCK BANK
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Vietnam Maritime Commercial Joint Stock Bank Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 29 250,00 VND
Average target price 29 600,00 VND
Spread / Average Target 1,20%
Managers and Directors
Linh Hoang Nguyen Vice Chairman & Chief Executive Officer
Tuan Anh Tran Chairman
Lien Thi Le Independent Director
Quang Buu Huynh Vice Chairman
Thien Huong Thi Nguyen Vice Chairman