VCB released its 2023 results with TOI of VND67.7tn (USD2.8bn; -0.5% YoY) and NPAT-MI of VND33.0tn (USD1.4bn; +10.5% YoY), fulfilling 92% and 96% of our respective FY2023 forecasts. Q4 2023 NPAT-MI was VND9.4tn (+28.7% QoQ; -5.8% YoY). Overall, VCB’s resu