We raise our target price by 2.9% to VND28,300 and maintain our MARKET PERFORM rating with a projected TSR of 7.4% as we lift our 2020/21/22 net income forecasts by 7.1%/3.5%/2.2% and roll our valuation date forward to mid-2020. Our earnings forecasts increase for 2020 and beyond as we lift our interest-earning asset (IEA) yield assumptions at the parent bank. The parent has posted signs of improving IEA yields in H1 2019 due to (1) positive progress made in expanding lending in rural areas