VIB released its 2023 results with NPAT-MI of VND8.6tn (USD354mn; +1.1% YoY), achieving 89% of our FY2023 forecast. These results imply Q4 2023 NPAT-MI of VND1.9tn (-14.2% YoY & -11.4% QoQ). Overall, the top line results tracked ahead of our expectations