STB - Profit drops significantly; long path ahead to cope with bad debts - Earnings Flash
  • 02 Aug 2016
  • Company Research
STB has issued its unaudited FS for H1 2016, but its audited FS for 2015 are still pending and its AGM has not been held yet. Our SELL rating is based on our doubts about its asset quality and seeming intractability of 10 years of VAMC provisioning ahead