STB released consolidated results for H1 2019 with the bottom line totalling VND1.2tn (USD49mn, +49.9% YoY), which achieved 53% our FY2019 forecast. Annualized H1 2019 ROA and ROE stood at 0.5% and 9.4%, respectively. We do not anticipate any material changes to our earnings forecasts or target price.