LPB released consolidated results for 9M 2020 with bottom-line net profit of VND1.4tn (USD61mn; 6.4% YoY), achieving 87.5% of our FY 2020 forecast. The slight increase in NPAT was mainly due to (1) a 4.9% YoY increase in NII (78.7% of our FY 2020 forecast), (2) 70.7% YoY increase in NFI (including FX) and (3) 3.4x YoY increase in net other income (though from a low base), which was partly offset by (1) a VND62bn loss in investment securities, (2) 12.4% YoY increase in OPEX and (3) 2.5% YoY incre