MBB released consolidated results for H1 2020 with the net profit totalling VND4.2tn (USD179mn; +6.1% YoY), which achieved 59% our FY2020 forecast. H1 2020 NII and TOI were up 9.3% and 11.2% YoY, which achieved 49% and 51% our FY2020 forecast, respectively. Provision charges slowed in Q2 2020 after a spike in MCredit’s (consumer finance arm) credit costs in Q1. H1 2020 provision charges achieved 48% our full-year forecast. We do not anticipate material changes to our earnings forecasts