VCB just released financial results for 9M 2016 with strong profit growth and active provisioning. 9M profits are tracking behind our forecast because VCB is pushing provisioning for VAMC to speed up its process of clearing bad debts. Profits for 2016 might be lower than our forecast, but high provisioning this year will reduce provision expense and increase earnings in the coming years. We reiterate a MARKETPERFORM for VCB.