ACB released inline results for 9M 2019 with NPAT-MI of VND4.4tn (USD191mn, +17.9% YoY), completing 72% of our 2019 full-year forecast. Annualized 9M 2019 ROA and ROE stood at 1.7% and 25.6%, respectively. All QoQ figures below are comparisons between Q3 2019 and Q2 2019. NIM increased by 18 bps to 3.55% on YoY basis (+2 bps QoQ), but was unchanged compared to FY 2018. Although interest earning asset (IEA) yields tracked up by 20 bps YoY (+27 bps QoQ) to 8.34% in 9M 2019