We raise our target price (TP) by 38% and maintain our BUY rating as we (1) increase our aggregate net income forecast for 2021-2025 by 27% relative to our previous forecast, (2) increase our target P/B to 2.3x vs 2.0x previously and (3) lower our cost of equity to 12.5% from 13%. We increase our 2021F net income by 12% vs our previous forecast to VND16.9tn (USD723mn; +33.9% YoY) as a result of (1) a 7% increase in projected net interest income (NII) and (2) 10% increase in total projected non