ACB released results for 9M 2018 with a bottom line of VND3.8tn (USD165mn, +147% YoY), achieving 77% of our full-year forecast. NII and a recovery of written-off debt are slightly trending ahead with our expectation while net fee income was in line. In particular, Q3 2018 achieved net earnings of VND1.3tn (USD57mn; +139% YoY). 9M results were driven by: