TPB released upbeat results for 9M 2019 with NPAT-MI of VND1.9tn (USD83mn, +49.0% YoY), completing 75% of our 2019 full-year forecast. Annualized 9M 2019 ROA and ROE stood at 1.8% and 22.7%, respectively. All QoQ figures below are comparisons between Q3 2019 and Q2 2019.