VIB released Q1 2023 results with PPOP of VND3.4tn (USD142mn; +25.6% YoY) and NPAT-MI of VND2.2tn (USD91mn; +18.2% YoY), achieving 24.8% and 22.5% of our FY2023 forecasts, respectively. The increase in the bottom line was mainly thanks to a 22.4% YoY incr