VCB – Earnings review – [BUY] – Enhancing asset quality

2Q24 PBT rallied +9.0% yoy to VND10.1tn thanks to a decrease in operating costs (-9.4% yoy) and provision risk expenses (-40.3% yoy). Accumulated 1H24 PBT posted VND20.8tn, up +1.6%yoy, equalling 48% of the 2024 target and 46% of KIS estimation.