Based on HSC'S assumptions, HSC forecast the bank will achieve FY2010 pretax proft of VND 3,012 billion (+6% y/y). Given HSC'S forecast, this would generate an adjusted EPS of VND2,767 and a BVPS of VND15,643. The shares are now trading at a forward P/E of of 10xs and P/B of 1.9xs.