STB released consolidated results for 9M 2020 with bottom-line net profit of VND1.8tn (USD80mn; -4.1% YoY), achieving 79.7% of our FY 2020 forecast. The slight decline in NPAT was mainly due to (1) a VND27bn loss in investment securities, (2) 36.1% YoY decrease in net other income and (3) 69.4% YoY increase in provision expense deriving from a VND 1.4tn provision for “other assets” on the balance sheet, which was partly offset by 15.0% and 26.3% YoY growth in NII and NFI (including FX trading),