ACB achieved results in line with our forecast for H1 2019 with NPAT-MI of VND2.9tn (USD124mn, +17.7% YoY), completing 48% of our 2019 full-year forecast. Annualized H1 2019 ROA and ROE stood at 1.7% and 25.9%, respectively. All of the YoY comparisons below are H1 2019 vs H1 2018 comparisons unless otherwise stated.