VIB released 2022 results with PBT of VND10.6tn (USD448mn; +32.1% YoY), achieving 103% of our FY2022 forecast. The increase in PBT was mainly due to (1) a 26.6% YoY increase in NII and (2) 19.9 % YoY decrease in provision expenses that outweighed (3) a 17