We attended VCB’s AGM on April 23, 2021. The meeting’s main agenda included the bank’s 2021 business plans and election of a new member to the Board of Directors (BOD). 2021 targets include (1) credit growth of 10.5% vs our current assumption of 17%, (2) customer deposit growth of 7% vs our current forecast of 13%, (3) the NPL ratio to be kept below 1%, and (4) 2021 consolidated PBT of VND25.6tn (+11% YoY) — accounting for 87.0% of our full-year forecast. The Chairman shared that 10.5% was