MBB released consolidated results for H1 2023 with PBT of VND12.7tn (USD542mn; +7.1% YoY), completing 51% of our FY2023 forecast and implying Q2 2023 PBT of VND6.2tn (flat YoY; -4% QoQ). Overall, MBB’s bottom line tracked slightly ahead of our expectation