VCB [O-PF +10.6%] - Last year’s strong earnings growth will continue going forward - AGM note 15 Apr 2016 Company Research VCB’s 2015 AGM was held on April 15, 2016 in which guidance for 2016 and the good performance of Q1 2016 were announced. We maintain a positive view on VCB and currently have an OUTPERFORM rating with target price of VND46,000.