TCB released consolidated results for H1 2020 with net profit totalling VND5.4tn (VND232mn; +19.2% YoY), which achieved 51% our FY2020 forecast. H1 2020 NII and TOI were up 26% and 30% YoY, which achieved 46% and 48% our FY2020 forecast, respectively. Total non-interest income (NOII) contributed 31% to TOI as of H1 2020. We do not anticipate material changes to our earnings forecasts and/or target price, pending a more extensive review.