VCB released H1 2022 results with TOI of VND32.7tn (USD1.4bn; +14.4% YoY) and NPAT-MI of VND13.9tn (USD604mn; +28.0% YoY), achieving 48.1% and 45.1% of our FY2022 forecasts, respectively. The increase in NPAT-MI was mainly due to (1) a 17.0% YoY increase