VCB released 9M 2021 results with TOI of VND41.8tn (USD1.8bn; +20.9% YoY) and NPAT-MI of VND15.5tn (USD672mn; +21.0% YoY), achieving 76.1% and 72.8% of our FY2021 forecasts, respectively. The jump in NPAT was mainly due to (1) a 22.3% YoY increase in NII,