We raise our target price (TP) by 0.5% to VND41,300/share and maintain our MARKET PERFORM rating for BID. Our higher TP is mainly due to a higher valuation produced by the residual income method that is derived from an average 1.0% increase in our NPAT-MI forecast for 2021-2025F and an increase in our target P/B of 1.87x vs 1.81x as previously.