BID released results for 2020 with NPAT-MI of VND7.1tn (USD306mn; -14.7% YoY), completing 93.2% of our full-year 2020 forecast. BID’s lower bottom line was due to a flat YoY performance of net interest income (NII) coupled with a 14.9% YoY rise in provision expenses in 2020. FY2020 ROA and ROE stood at 0.47% and 9.1%, respectively. Rapid loan and deposit growth in Q4 2020. BID’s loan growth was 8.7% YTD in 2020. These loans were mainly disbursed in Q4 2020 given that 9M 2020 loan growth