The document is a presentation for 1H2019 covering macroeconomic trends in Vietnam and an overview of VietinBank. It discusses GDP growth, inflation, manufacturing activity, trade levels, FDI and the banking sector environment. For VietinBank specifically, it provides details on its history, governance structure, organizational structure and highlights its large capital base, extensive branch network, strong brand and client base, and shareholder structure which includes the State Bank of Vietnam.
M&A dealscape highlights the M&A deal activity in India over the last 4 quarters (July 2017 to June 2018), together with insights on macro-economic scenario and key deal rationales by sector.
On the domestic front, Indian equities corrected sharply post the FY20 Union Budget announcement on 5th July 2019 due to uncertainty emanating from a couple of proposals pertaining to: 1) Increase in taxes for FPIs accessing the Indian equity markets through the ‘Trust’ route; and 2) potential supply side pressures for equity markets (increase in free float requirement from 25% to 35% coupled with relaxation on minimum threshold of 51% Government ownership for PSUs including the shareholding of Government controlled institutions). Post the budget, equity and bond markets have witnessed divergent trends.
Read the full document to know more.
M&A dealscape highlights the M&A deal activity in India over the last 4 quarters (July 2017 to June 2018), together with insights on macro-economic scenario and key deal rationales by sector.
On the domestic front, Indian equities corrected sharply post the FY20 Union Budget announcement on 5th July 2019 due to uncertainty emanating from a couple of proposals pertaining to: 1) Increase in taxes for FPIs accessing the Indian equity markets through the ‘Trust’ route; and 2) potential supply side pressures for equity markets (increase in free float requirement from 25% to 35% coupled with relaxation on minimum threshold of 51% Government ownership for PSUs including the shareholding of Government controlled institutions). Post the budget, equity and bond markets have witnessed divergent trends.
Read the full document to know more.
In the current issue of Economy Matters, we discuss China’s GDP release for Q2:2016, policy stance of Bank of England and IMF’s latest global growth forecast in the section on Global Trends. In Domestic Trends, we present analysis of the trends emanating out of the recent releases on Monsoon progress, IIP, Inflation, Trade and CII’s Business Outlook Survey Results for Q1FY17. In Policy Focus, we present the highlights of the key policy documents released during June-July 2016. In Focus of the Month,the topic ‘Transforming Healthcare in India' has been covered.
In the current issue of Economy Matters, we analyse the economic prospects of US economy and the India-Mauritius tax pact in the section on Global Trends. In Domestic Trends, we analyse the trends emanating out of the recent releases on IIP, Inflation, Trade and Currency. Sector in Focus section discusses the prospects of e-commerce industry in India. In Focus of the Month, we discuss the impact of monsoons on the Indian economy. Special Feature carries an article on growth and job creation by Ms. A. Srija, Director, NITI Aayog.
US GDP growth slowed down once again in first quarter of 2016 amid signs of a global economic slowdown. Both consumers and businesses cut back on spending and US exports were hurt by economic weakness in overseas markets. Continued economic weakness, subpar inflation and global pressures are likely to cause the Federal Reserve to slow its pace of rate hikes this year from what had been expected. Closer home, in a significant move, India and Mauritius signed a landmark tax pact, aimed at tackling black money. The government expects the Protocol to tackle treaty abuse and round tripping of funds, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius.
Monthly analysis of the performance of Uganda's economy with focus on macroeconomic indicators like inflation, exchange rate, private sector credit, imports and exports, revenue, expenditure, among others.
In this issue of Economy Matters, we analyse the recent Fed rate hike and Euro Zone economic prospects, in the section on Global Trends. We have covered data trends in GDP, IIP, Inflation, Monetary Policy and Trade in the Domestic Trends section. Find out the results of 2QFY16 In Corporate Performance section. Taxation section covers the views of Sumit Dutt Mazumder, former Chairman of CBEC on GST. The Sectoral Spotlight for this issue is on Financial Conditions Index for 3QFY16. Read Focus of the Month, to know about ‘Skilling India’, wherein experts from diverse areas present their views.
Quarter two 2018 global and domestic economic reviewWilfred Agyei
The second quarter of 2018 has seen a significant number of economic activity and events in both the domestic and the global economy.
Ghana's banking sector saw a number of corporate actions by banks in order to establish compliance of the minimum capital requirement. The bank of Ghana introduced the Ghana Reference Rate, and the MPC cut the policy rate, while inflation increased gradually, albeit marginally. The IMF conducted the fifth and sixth reviews of Ghana's performance under the ECF arrangement and extended the program to 2019.
On the global front, geopolitical tensions were a major concern in the world economy. The united states engaged in tariff wars with China and Europe. Mounting tensions between Saudi and Iran, and production cuts by OPEC contributed to the rise in crude oil prices. Meanwhile, tensions between the U.S and North Korea cooled, as the leaders of the two countries reached a de-nuclearization agreement in Singapore.
Download the document to explore in detail the macroeconomic trends during the second quarter and our forecasts for key economic indicators for the third quarter of 2018.
Indian equity benchmarks recorded
splendid performance in September 2019 and clocked their
biggest single-day jump in 10 years on September 20, 2019,
following the announcement of corporate tax cut and other
measures by the government to boost the economy.
Benchmark S&P BSE Sensex and Nifty 50 ended the month with nearly 4% gains.
Read the full document to know more.
Provisional estimates of GDP for fy 2018 19 and final estimates of GDP for fy...Md. Mamun Hasan Biddut
According to the Bangladesh Bureau of Statistics (BBS), Bangladesh GDP grew by 5.24 per cent during 2019-20 raising the per capita income by US$155 to US$2,064. This growth rate has been achieved when the global economy is contracting, in particular the whole developed world where according to the Organization for Economic Cooperation and Development (OECD) major economies are expected to contract by 2.4 per cent in 2020. The World Bank GDP projection for 2020 predicts a fall by 2.5 per cent for developing countries and 1.8 per cent for developed countries. Even the neighboring country India recorded a contraction of the economy by 23.9 per cent during the April-June quarter of 2020.
This growth rate is also much above the economic growth forecast provided for Bangladesh by the World Bank (WB) at 1.6 percent, International Monetary Fund (IMF) at 3.8 percent and Asian Development Bank (ADB) at 4.5 percent for 2020. While these forecast figures are for the calendar year 2020, but the BBS growth figure is for the 2019-20 financial year. In fact, the Bangladesh government believes that the economy is on track to achieve 8.2 per cent growth rate in 2020-21 and also expects the economy to rebound at a higher pace than before after the pandemic is over (FE, August, 28). There is an implicit message that the economy is not only trekking back to pre-pandemic levels but also will surpass that.
Euro Area is recovering slowly, with its major member countries registering lower-than-expected growth rates in the third quarter. Major Asian economies have shown diverse growth trends in the last few quarters. We cover this in the section on Global Trends in this month’s issue of Economy Matters.
In the section on Domestic Trends, we discuss the trends emanating out of the recent releases on GDP, Current Account, IIP and Inflation data during the month of December 2013.
The Sectoral spotlight for this issue is on Electricity, which remains an important contributor to GDP growth. We evaluate the impact of the Electricity Act, 2003 on the sector’s performance.
In the Special Article, we provide a snapshot of India’s exports sector along with analyzing the important sectors in exports such as services and tourism.
In the current issue of Economy Matters, we discuss China’s GDP release for Q2:2016, policy stance of Bank of England and IMF’s latest global growth forecast in the section on Global Trends. In Domestic Trends, we present analysis of the trends emanating out of the recent releases on Monsoon progress, IIP, Inflation, Trade and CII’s Business Outlook Survey Results for Q1FY17. In Policy Focus, we present the highlights of the key policy documents released during June-July 2016. In Focus of the Month,the topic ‘Transforming Healthcare in India' has been covered.
In the current issue of Economy Matters, we analyse the economic prospects of US economy and the India-Mauritius tax pact in the section on Global Trends. In Domestic Trends, we analyse the trends emanating out of the recent releases on IIP, Inflation, Trade and Currency. Sector in Focus section discusses the prospects of e-commerce industry in India. In Focus of the Month, we discuss the impact of monsoons on the Indian economy. Special Feature carries an article on growth and job creation by Ms. A. Srija, Director, NITI Aayog.
US GDP growth slowed down once again in first quarter of 2016 amid signs of a global economic slowdown. Both consumers and businesses cut back on spending and US exports were hurt by economic weakness in overseas markets. Continued economic weakness, subpar inflation and global pressures are likely to cause the Federal Reserve to slow its pace of rate hikes this year from what had been expected. Closer home, in a significant move, India and Mauritius signed a landmark tax pact, aimed at tackling black money. The government expects the Protocol to tackle treaty abuse and round tripping of funds, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius.
Monthly analysis of the performance of Uganda's economy with focus on macroeconomic indicators like inflation, exchange rate, private sector credit, imports and exports, revenue, expenditure, among others.
In this issue of Economy Matters, we analyse the recent Fed rate hike and Euro Zone economic prospects, in the section on Global Trends. We have covered data trends in GDP, IIP, Inflation, Monetary Policy and Trade in the Domestic Trends section. Find out the results of 2QFY16 In Corporate Performance section. Taxation section covers the views of Sumit Dutt Mazumder, former Chairman of CBEC on GST. The Sectoral Spotlight for this issue is on Financial Conditions Index for 3QFY16. Read Focus of the Month, to know about ‘Skilling India’, wherein experts from diverse areas present their views.
Quarter two 2018 global and domestic economic reviewWilfred Agyei
The second quarter of 2018 has seen a significant number of economic activity and events in both the domestic and the global economy.
Ghana's banking sector saw a number of corporate actions by banks in order to establish compliance of the minimum capital requirement. The bank of Ghana introduced the Ghana Reference Rate, and the MPC cut the policy rate, while inflation increased gradually, albeit marginally. The IMF conducted the fifth and sixth reviews of Ghana's performance under the ECF arrangement and extended the program to 2019.
On the global front, geopolitical tensions were a major concern in the world economy. The united states engaged in tariff wars with China and Europe. Mounting tensions between Saudi and Iran, and production cuts by OPEC contributed to the rise in crude oil prices. Meanwhile, tensions between the U.S and North Korea cooled, as the leaders of the two countries reached a de-nuclearization agreement in Singapore.
Download the document to explore in detail the macroeconomic trends during the second quarter and our forecasts for key economic indicators for the third quarter of 2018.
Indian equity benchmarks recorded
splendid performance in September 2019 and clocked their
biggest single-day jump in 10 years on September 20, 2019,
following the announcement of corporate tax cut and other
measures by the government to boost the economy.
Benchmark S&P BSE Sensex and Nifty 50 ended the month with nearly 4% gains.
Read the full document to know more.
Provisional estimates of GDP for fy 2018 19 and final estimates of GDP for fy...Md. Mamun Hasan Biddut
According to the Bangladesh Bureau of Statistics (BBS), Bangladesh GDP grew by 5.24 per cent during 2019-20 raising the per capita income by US$155 to US$2,064. This growth rate has been achieved when the global economy is contracting, in particular the whole developed world where according to the Organization for Economic Cooperation and Development (OECD) major economies are expected to contract by 2.4 per cent in 2020. The World Bank GDP projection for 2020 predicts a fall by 2.5 per cent for developing countries and 1.8 per cent for developed countries. Even the neighboring country India recorded a contraction of the economy by 23.9 per cent during the April-June quarter of 2020.
This growth rate is also much above the economic growth forecast provided for Bangladesh by the World Bank (WB) at 1.6 percent, International Monetary Fund (IMF) at 3.8 percent and Asian Development Bank (ADB) at 4.5 percent for 2020. While these forecast figures are for the calendar year 2020, but the BBS growth figure is for the 2019-20 financial year. In fact, the Bangladesh government believes that the economy is on track to achieve 8.2 per cent growth rate in 2020-21 and also expects the economy to rebound at a higher pace than before after the pandemic is over (FE, August, 28). There is an implicit message that the economy is not only trekking back to pre-pandemic levels but also will surpass that.
Euro Area is recovering slowly, with its major member countries registering lower-than-expected growth rates in the third quarter. Major Asian economies have shown diverse growth trends in the last few quarters. We cover this in the section on Global Trends in this month’s issue of Economy Matters.
In the section on Domestic Trends, we discuss the trends emanating out of the recent releases on GDP, Current Account, IIP and Inflation data during the month of December 2013.
The Sectoral spotlight for this issue is on Electricity, which remains an important contributor to GDP growth. We evaluate the impact of the Electricity Act, 2003 on the sector’s performance.
In the Special Article, we provide a snapshot of India’s exports sector along with analyzing the important sectors in exports such as services and tourism.
According to our opinion 2018 is going to be a crucial pivot year that will define Greek economic standards for the years to come.
In some respects 2018 can be characterized as a “low risk” year with no new fiscal measures to be enacted and very low debt redemptions which minimizes the refinancing risk of the Greek Sovereign.
At the same time though 2018 is also a “decisions time” as a number of very significant issues - that up to now have been postponed - have to be decided. The agenda includes the debt sustainability / restructuring issue, the conclusion of 4th review, the precautionary line / cash buffer decision as well as the post-program monitoring process.
Union Budget- MACRO-ECONOMIC FRAMEWORK STATEMENT 2020-21
Highlights & Key features of budget 2020-21 pdf. Presented by Hon FM Nirmala Sitharaman
Sources: https://www.indiabudget.gov.in/doc/frbm1.pdf
Colliers Vietnam Q1 2014 Investment Report: Read and follow the top economic indicators for Vietnam, M&A activity, and major developments in finance, banking, and legal. Published Monthly with contribution from LNT & Partners Law Firm.
Az eddig beérkezett adatok alapján akár 5%-kal is nőhetett a hazai GDP az első negyedévben. Az év első felében nagyon erős dinamikára számítunk, a második félévben azonban az egyre intenzívebb import-kereslet és bázishatás miatt már lassulni fog a gazdaság bővülése, 2019-ben pedig 3%-ig mérséklődhet a növekedési ütem.
Read and follow the top economic indicators for Vietnam, M&A activity, and major developments in finance, banking, and legal. Published Monthly with contribution from LNT & Partners Law Firm.
This document brings together a set of latest data points and publicly available information relevant for Banking Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
4. 1. Macroeconomic & Banking sector overview
GDP
2Q2019 GDP Growth was lower than the same period last year
The economy in the first 6 months of 2019 continued to shift positively with stable macro economy and
inflation being controlled at a low level. However, it also faced with many difficulties and challenges,
namely complicated climate changes affecting crop yield and productivity; livestock industry being
heavily affected by the widespread of African swine fever; slowing growth of several key export
products; and low disbursement of public investment.
2Q2019 GDP increased by 6.71% y-o-y, though lower than that of 2Q2018 but still higher than those of
second quarters of the period 2011-2017.
1H2019 GDP increased by 6.76%, though lower than the increase of 1H2018 but higher than that of the
first half of period 2011-2017
The Government targeted to achieve GDP growth of 6.6% - 6.8% in 2019.
4
5.7%
5.4%
6.4% 6.2%
5.2% 5.4%
6.0%
6.7% 6.2%
6.8%
7.1%
0%
1%
2%
3%
4%
5%
6%
7%
8%
0
50
100
150
200
250
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Vietnam GDP growth 2008-2018 (billion USD)
GDP %GDP
5.8%
6.6%
6.7%
5.1%
6.2%
7.5%
7.7%
7.4%
6.7%
6.9%
7.3%
6.8%
6.7%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
Vietnam GDP growth 2016-2019 (q-o-q)
%GDP (q-o-q)
Source: General Statistics Office
5. 1. Macroeconomic & Banking sector overview
CPI
CPI in June 2019 decreased compared to the
previous month, 2Q2019 CPI increased by q-o-q
and y-o-y
CPI in June 2019
decreased by 0.09%
compared to the
previous month.
In 2Q2019, CPI
increased by 0.74% q-o-
q and increased by
2.65% y-o-y.
The average CPI in
1H2019 increased by
2.64% compared to the
same period in 2018;
CPI in June 2019
increased by 1.41%
compared to Dec 2018
and up by 2.16% y-o-y.
Core inflation in June
2019 increased by
0.16% over the previous
month and increased by
1.96% y-o-y. The
average core inflation in
1H2019 rose by 1.87%
y-o-y.
Factors that caused CPI in
1H2019 to increase:
Increase in prices of food
(pork), drinks, cigarettes,
quick fashion clothes, public
transport services, package
tours.;
Increase in prices of
housing maintenance
materials;
Increase in price of
textbooks for 2019-2020
school year since April 2019
has resulted in increase of
stationery price index.
Increase in price of
household electricity.
Factors that contributed to
inhibition of CPI in 1H2019:
Gasoline price was down;
Gas price was down;
Tuition fee in HCMC was
lowered according to
Resolution No. 25/2018/NQ-
HDND dated Dec 7, 2018 of
the HCMC People's Council.
17.5%
7.6%
12.2%
17.3%
6.8%
6.0%
4.1%
0.6%
4.7%
3.5% 3.5%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
CPI growth 2008 - 2018
% CPI (y-o-y)
0.5%
0.7%
-0.3%
0.1%
0.6%
0.6%
-0.1%
0.5%
0.6%
0.3%
-0.3%
-0.3%
0.1%
0.8%
-0.2%
0.3%
0.5%
-0.1%
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
CPI growth 2018-2019 (m-o-m)
% CPI (m-o-m)
5
Source: General Statistics Office
6. 1. Macroeconomic & Banking sector overview
PMI
Vietnam's manufacturing sector continues to grow well in mid-2019
Vietnamese manufacturing PMI index reached 52.5 points in June, an increase of 0.5 point
against May 2019 and the same as of April 2019. This is also the high level of 1H2019. The
average 2Q2019 PMI is higher than the result recorded in 1Q2019, although it is still lower than
the average of 2018.
Vietnamese manufacturers continued to have a record increase in the number of new orders in
June 2019, when the growth rate reached a high level of the first 6 months of 2019, thanks to
the introduction of new products and increase in number of customers.
The increasing number of new orders is the main factor leading to the 19th consecutive
increase of production sector in Vietnam.
6
53.4 53.5
51.6
52.7
53.9
55.7
54.9
53.7
51.5
53.9
56.5
53.8
51.9
51.2
51.9
52.5
52.0
52.5
48
50
52
54
56
58 PMI in the period 2018-2019
Source: General Statistics Office
8. 1. Macroeconomic & Banking sector overview
FDI
FDI continued to prosper in the first 6 months of 2019
As of June 20, 2019, FDI attracted 1,723 new licensed projects with the registered capital of US$7.41 billion,
up 26.1% in the number of projects but down 37.2% in registered capital over the same period in 2018.
There were 628 licensed projects from previous years registered to adjust their investment capital with the
total additional capital of 2.94 billion USD, down 33.8% compared to the same period in 2018. The total newly
registered capital and additional capital in 1H2019 reached 10.35 billion USD, down 36.3% y-o-y.
There were 4,020 times of capital contribution and buying shares of foreign investors with the total capital
contribution of US$ 8.12 billion, up 98.1% y-o-y. In which, there were 625 capital contributions, shares
purchase to increase the charter capital of enterprises with the total contributed capital of 5.48 billion USD and
3,395 times of foreign investors buying domestic shares that did not increase the charter capital with total
amount of US $ 2.64 billion.
Realized FDI capital in 1H2019 reached US$ 9.1 billion, up 8.1% compared to the same period of 2018.
8
60.3
16.3
18.6
14.7 13.0 14.3 15.6 15.6 15.2
21.3
18.0
3.8
7.4
11.5
10.0 11.0 11.0 10.5 11.5
12.4
14.5 15.8 17.5 19.1
4.1
9.1
0
10
20
30
40
50
60
70
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1Q2019 2Q2019
FDI newly registered and disbursed (USD, bn)
Newly registered Disbursed
Source: Ministry of planning and investment
9. 1. Macroeconomic & Banking sector overview
Vietnam banking sector
Exchange rate rose sharply in May then decreased in June
Guaranteed liquidity, stable interest rates
22,400
22,500
22,600
22,700
22,800
22,900
23,000
23,100
23,200
SBV’s central USD/VND exchange rate
In 1Q2019 and the first half of April, the exchange rate was relatively
stable, creating conditions for the State Bank of Vietnam (SBV) to buy a
certain amount of USD in the market to supplement the State foreign
exchange reserve.
From the second half of April and in May, the exchange rate increased
sharply due to the escalation of the US-China trade war.
In June, the exchange rate tended to decrease. In the first 3 weeks of
June, the exchange rate decreased thanks to descending US-China
trade war tension; strong belief that Fed would cut down interest rates in
July; profound USD supply; and sharp increase of gold price. By the last
week of June, the exchange rate increased slightly due to growing
demand of foreign currency from FDI sector to return their profits to
mother country at the end of the quarter.
As of 28/6/2019, SBV’s central rate was adjusted up by 241 points
(+1.06%) to 23,066 VND/USD compared to end of 2018.
Total means of payment increased by 6.05% from 2018 (as at 18
Jun 2019).
Credit growth was up 7.33% from 2018 (as at 28 Jun 2019).
Capital mobilization of credit institutions increased 6.87% from 2018
(as at 28 Jun 2019).
Recently, some commercial banks have increased midterm and long
term deposit rates to restructure their capital mobilization at the
requirement of the SBV.
Deposit and lending interest rates are basically stable, short-term
lending rates are popular at 6-9% pa; 9-11% pa for medium and long
term. For customers with a healthy financial situation, high
creditability, short-term lending rates are at 4-5% p.a.
Credit structure continues to focus on business and production
sector, priority sectors under the direction of the Government; credit
granted to the fields of potential risk is enhanced to be under control.
9
0%
5%
10%
15%
20%
25%
30%
35%
Credit growth
0%
5%
10%
15%
20%
25%
30%
35%
Mobilization growth
Source: General Statistics Office
10. VietinBank Overview
Solid Governance Structure
Strong Organizational Structure
2. General information
about VietinBank
10
11. 11
Officially
renamed to
Vietnam Joint
Stock
Commercial
Bank for
Industry and
Trade (or
VietinBank in
short).
2008
Established
upon
separation
from The
State Bank
of Vietnam
(SBV)
Went public
through IPO
and listed
on Ho Chi
Minh Stock
Exchange
(HOSE) one
year later.
IFC officially
became
foreign
strategic
shareholder
of VietinBank
with 10%
stake
ownership.
The Bank of
Tokyo Mitsubishi
UFJ (BTMU -
now known as
MUFG Bank)
officially became
the second
foreign strategic
shareholder of
VietinBank,
holding 19.73%
equity share of
VietinBank.
Successfully
implemented
Core
Banking
system.
Being
awarded
"The Best
Core
Banking
Project" by
The Asian
Banker.
VietinBank
celebrated 30
years of
establishment
and
development.
Restructuring
plan associated
with bad debts
settlement which
was approved
by the State
Bank of Vietnam
1988 2009 2011 2012 2017 2018
2. General information about VietinBank
VietinBank Overview
Vietnam Joint Stock Commercial Bank for
Industry and Trade (VietinBank) is a leading
financial and banking institution in Vietnam,
providing modern financial and banking
products and services with full utilities and
meeting international standards.
12. 2. General information about VietinBank
Solid Governance Structure
12
Subsidiaries
Board of Directors
Board of Management
Internal Audit
1. HR Committee
2. Risk Management Committee
3. Policy Committee
Corporate
Banking
Division
General Shareholders’ Meeting
1. Credit Board
2. Assets and Liabilities
Management Board
3. Risk Management Board
4. Capital Management Board
Supervisory Board
Board of Directors Office
Credit
Approval
Division
Risk
Management
Division
Retail
Banking
Division
Treasury &
Capital Markets
Division
Human
Resources
Division
Operation
Division
Financial
Division
Branches
Legal and
Compliance
Division
Information
Technology
Division
Marketing and
Communications
Division
Other
Departments
13. 2. General information about VietinBank
Strong Organizational Structure
13
Head Office
VietinBank
Laos Limited
Domestic & overseas
branch network
Representative
Offices
Non-profit Making
Units
Subsidiaries and
Affiliated Companies
Transaction Offices
Indovina
Joint Venture
Bank
Non Financial Subsidiaries
Financial Subsidiaries and
Affiliated Companies
VietinBank
Securities
JSC
VietinBank
Fund
Management
Company Ltd
VietinBank
Leasing
Company Ltd.
VietinBank
Global Money
Transfer
Company Ltd
VietinBank
Insurance
Company Ltd.
VietinBank Gold
and Jewelry
Trading
Company Ltd.
VietinBank Debt
and Asset
Management
Company Ltd.
14. Chartered Capital, Total Equity and Total Asset
Network
Brand name & Client base
Strong shareholder structure
Corporate governance and HR
3. Investment Highlights
14
15. 3. Investment Highlights
Strong
potential
1
2
3
45
6
7
Strong shareholder structure
(SBV 64.46%; MUFG 19.73%, IFC 8.03%)
Focus resources to effectively
implement the restructuring
plan associated with bad debt
handling
High quality human
resources
Solid infrastructure
with modern
technology system
Outstanding scale in terms of
Total Assets, Total Equity &
Charter Capital
World-wide and nation-wide
network
Strong brand name with
diversified client base
15
17. 3. Investment Highlights
Network Overview
Central
29 Branches
South
53 Branches
North
Head Office
73 Branches
Nationwide network:
• 01 Head Office in Hanoi
• 02 Representative offices in Da Nang and Ho
Chi Minh City
• 155 Local branches, 958 transaction offices in
all cities and provinces
• 09 Non-business units
• 07 Subsidiaries (insurance, securities, financial
leasing, fund management, assets
management, gold and jewelry, global money
transfer)
• 01 Joint-venture companies (Indovina Bank)
• Nearly 2,000 ATMs
Foreign expansion:
• 01 Branch in Frankfurt, Germany
• 01 Branch in Berlin, Germany
• 01 Subsidiary in Laos (VietinBank Laos Ltd)
• 01 Representative office in Myanmar
VietinBank has established a large
correspondent banking network with more than
1,000 banks in 90 countries and territories all
over the world.
Head Office
in Ha Noi
02 Representative
Offices
155 Branches,
958 Transaction
Offices
01 Joint-Venture
Companies
07 Subsidiaries
09 Non-business
Units
17
18. 3. Investment Highlights
Great and solid customer base
18
VietinBank has fostered strong banking relationships with well-established corporates in
Vietnam as well as SMEs, FDI & retail clients.
19. 3. Investment Highlights
Strong Shareholder Structure
Shareholder
SBV
MUFG
IFC
Support
Government owns 64.46% of VietinBank’s
Charter Capital. Government ownership
ratio will not fall below 51% at any time.
The majority of Board of Director’s
members are appointed by the Government
and the State Bank of Vietnam.
Cooperation Agreement with IFC in 2011
covers:
Risk management
Banking services for SMEs
Energy Efficiency Project
Information technology
Technical Assistance & Business
Collaboration Agreement with MUFG
covers:
Risk management & Basel II
Implementation
Information technology
Investment banking
Retail and SMEs banking
Cash collection and settlement service
Major Shareholders’ stakes Major shareholders’ supports
64.46%
19.73%
8.03%
7.78%
State Bank of Vietnam
MUFG
IFC
Others
19
20. 3. Investment Highlights
Management Team
20
BOARD OF DIRECTORS
Mr.
Le Duc Tho
Chairman
Mr.
Tran Minh Binh
Board Member
Mr.
Tran Van Tan
Board Member
Ms.
Tran Thu Huyen
Board Member
Mr.
Nguyen The Huan
Board Member
Ms.
Pham Thi Thanh Hoai
Board Member
Mr.
Hiroshi Yamaguchi
Board Member
Mr.
Hideaki Takase
Board Member
BOARD OF MANAGEMENT
Mr.
Tran Minh Binh
General Director
Ms.
Nguyen Hong Van
Deputy General
Director
Ms.
Le Nhu Hoa
Deputy General
Director
Mr.
Nguyen Hoang Dung
Deputy General
Director
Mr.
Nguyen Duc Thanh
Deputy General
Director
Mr.
Tran Cong Quynh Lan
Deputy General
Director
Mr.
Nguyen Dinh Vinh
Deputy General
Director
Mr.
Hiroshi Yamaguchi
Deputy General
Director
Mr.
Nguyen Hai Hung
Chief Accountant
SUPERVISORY BOARD
Ms.
Le Anh Ha
Chief Supervisor
Ms.
Nguyen Thi Anh Thu
Member
Mr.
Nguyen Manh Toan
Member
22. 4. Corporate Strategy
Corporate Vision & Strategic Objectives
Sustainable growth of scale1
New shift in income structure2
Develop transaction banking operations3
Improve financial capacity4
Enhance full-time labor productivity and cost-effective management5
Vision
A leading bank in Vietnam, being on the same level playing ground with regional
banks, modern, multi-functional and in accordance with international standards.
Strategic Objectives for period 2018 - 2020
Motto
Large-scale commercial bank with the best operating efficiency of the
Vietnamese banking system.
22
23. 4. Corporate Strategy
2019’s business targets
Effectively implement the
action plan in restructuring
plan associated with
handling bad debts in the
period 2016 - 2020
according to the proposed
roadmap
Strongly improve the quality
of services, develop a
variety of modern services
and products, shift income
structure towards
increasing non-interest
income
Improve financial capacity,
increase equity
Strengthening the
organizational model,
improving the quality of
human resources
Strictly control operating
costs and CIR rate,
aiming to improve labor
productivity, workforce
planning
Promote technology
application in all aspects
of operation
Strongly improve efficiency,
maintain reasonable growth
rates associated with good
management of quality
growth. Improve NIM ratio,
good management of
capital costs and operating
costs.
Promoting bad debt
recovery, risk-handled
debts, debts sold to VAMC,
improving asset quality
23
Enhance the role of risk
management, ensure
compliance, safety,
business development
associated with
strengthening risk
management
24. Stable funding
Reasonable credit growth, controlled NPL
ratio
Safe & diversified securities portfolio
Financial results
Performance results vs. other listed banks
5. Performance
24
25. 5. Performance
Stable funding
Mobilized fund structure
Deposits of customers & credit institutions
(USD, bil)
Inner ring: As at 31 Dec 2018: USD 48.06 bil
Outer ring: As at 30 Jun 2019: USD 48.18 bil
6%
10%
75%
1%
4% 4%
6%
9%
76%
1%
5%
3%
Borrowing from Gov and SBV
Deposits & borrowings from other banks
Customer deposits
Sponsor capital, Entrusted Investment
Value paper issued
Other mobilized funds
17
20 23
30
34
36 36 373.8
4.9
4.5
3.8
5.1
4.9 4.2 4.2
0
5
10
15
20
25
30
35
40
45
2013 2014 2015 2016 2017 2018 1Q2019 2Q2019
Deposits & borrowings from other banks
Customer deposits
25
26. 5. Performance
Customer Deposit
Customer Deposit Breakdown by
Type of business (31/12/2018)
Customer Deposit Breakdown by Tenor
(30/06/2019)
24.48%
6.97%
10.31%
52.69%
5.55%
SOEs (24.48%)
FDI (6.97%)
Other business entities (10.31%)
Individuals (52.69%)
Others (5.55%)
14.37%
84.84%
0.39% 0.40%
Demand deposits (14.37%)
Term deposits (84.84%)
Deposits for specific purpose (0.39%)
Margin deposit (0.40%)
26
27. 5. Performance
Effective and safe credit growth
Total Loans and Advances to Customer
(USD, bil)
Loan Breakdown by Type of business
(31/12/2018)
Loans to Total assets ratio (LAR)
Loan Breakdown by Tenor
(30/06/2019)
18
21
25
30
35
38 37 38
0
5
10
15
20
25
30
35
40
45
2013 2014 2015 2016 2017 2018 1Q2019 2Q2019
65.28%
66.53%
69.03%
69.78%
72.20%
74.28%
75.13% 74.80%
2013 2014 2015 2016 2017 2018 1Q2019 2Q2019
56.48%
7.32%
36.20%
Short term (56.48%)
Medium term (7.32%)
Long term (36.20%)
13.16%
5.56%
52.33%
28.51%
0.44%
SOEs (13.16%)
FDI (5.56%)
Other business entities
(52.33%)
Individuals (28.51%)
Others (0.44%)
27
28. 5. Performance
Credit quality control
1.00%
1.12%
0.92%
1.02%
1.14%
1.58%
1.85%
1.47%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
1.8%
2.0%
2013 2014 2015 2016 2017 2018 1Q2019 2Q2019
Non-Performing Loan Ratio (NPL)
Group
2016 2017 2018 1Q2019 2Q2019
Value
(USD, Mil)
%
Value
(USD, Mil)
%
Value
(USD, Mil)
%
Value
(USD, Mil)
%
Value
(USD, Mil)
%
Group 1
Current
29,319 98.03 34,695 98.40 37,066 97.81 36,826 97.56 37,506 97.69
Group 2
Special mention
251 0.91 162 0.46 228 0.61 222 0.59 321 0.84
NPLs 304 1.06 402 1.14 600 1.58 699 1.85 564 1.47
Total 29,874 100 35,259 100 37,894 100 37,894 100 38,391 100
28
29. 5. Performance
Good Asset Quality Management
• VietinBank has an appropriate credit system that allows to monitor
loan limits and credit risk appetite.
• This credit system with decentralized authority and clear reporting
channels is widely communicated.
Proper Credit System
• Loans and advances are relatively well allocated according to
business entities and industry sectors, ensuring a high degree of
portfolio diversification, minimizing concentration risk.
• The credit policy has put in place strict exposure credit limits.
Well-Defined Sectoral, Single
Party and Group Exposure
Credit Limits
• Comprehensive and detailed asset classification, current provisioning
requirements and policies are in consistent with regulatory norms and
guidelines.
• The above mentioned asset classification have resulted in positive
developments in measures against non-performing loans.
Comprehensive Asset
Classification and
Provisioning Requirements
• Strong credit risk management system is in place to improve the
asset management quality in the current growing economic
environment.
Strong Credit Risk
Management System
30. 5. Performance
Safe & diversified securities portfolio
Components of Investment PortfolioInvestment Portfolio (USD, Bil)
8
8
9
11
11
11
10
10
27.8%
26.8%
28.5%
25.0%
22.4%
20.8%
19.1%
19.6%
0
2
4
6
8
10
12
0%
5%
10%
15%
20%
25%
30%
Total investment Investment to total asset ratio
54%
44%
0.56%
0.06%
1.37%
52%
46%
0.57% 0.03% 1.42%
Interbank Debt securities
Equity securities Other trading securities
Long-term investments
Inner ring: As at 31 Dec 2018
Outer ring: As at 30 Jun 2019
30
33. 6. Appendix
Awards and accolades
1. FIRST-CLASS LABOUR MEDAL (FOR THE SECOND TIME) AND GOVERNMENT EMULATION
FLAG
VietinBank was awarded First-class Labour Medal (for the second time) and Government Emulation
Flag on its 30th anniversary. This is the official recognition from the Government and the Party for
VietinBank’s great achievements, efforts and contributions during its 30 years of development.
2. TOP 400 MOST VALUABLE BANK BRANDS WORLDWIDE
With position No.242 in Brand Finance's Global Rankings 2019, VietinBank is the first Vietnamese bank
to be among the world's Top 300 most valuable Banking Brands and the 7th time VietinBank has
entered the Top 500 most valuable Banking Brands. VietinBank's brand value also increased by 64% -
equivalent to USD 625 million and AA+ Brand Strength, up 68 steps compared to that of 2018. The
spectacular promotion made VietinBank continue to be in the Top 10 banks with the biggest increase in
ranking (8th ranking) and ranks 8th out of Top 10 banks with highest increase in brand value in the
world.
3. TOP 2000 LARGEST ENTERPRISES WORLDWIDE
For the 8th consecutive year, VietinBank has been listed on Forbes Global 2000 (Top 2000 largest
enterprises worldwide) compiled by Forbes. Forbes also recognized VietinBank’s revenue of USD 3.7
billion and total assets of USD 50.2 billion.
4. VIETNAM VALUE BRAND
VietinBank’s services were recognized as National Brand for the 5th consecutive year. This prestigious
award, initiated by the Prime Minister, was presented by National Trade Promotion Agency-Ministry of
Industry & Trade, National Brand Council and Secretariat of National Brand Award.
5. VIETNAM’S STRONGEST TRADEMARK
VietinBank was awarded the title of Vietnam Strong Brand for the 15th consecutive year at Vietnam
Golden Dragon Enterprises & Strong Brand Festival 2018 – 2019.
33
34. 6. Appendix
Efficient subsidiaries
Subsidiaries
Charterd Capital as
at 30/06/2019
(USD, Mil)
Percentage of
contribution
(%)
Profit after tax as at
30/06/2019
(USD, Mil)
VietinBank Laos Limited 50 100% 3.31
VietinBank Leasing Company
Ltd
43.35 100% 2.33
VietinBank Fund Management
Company Ltd
41.19 100% 0.38
VietinBank Securities Joint
Stock Company
46.15 75.61% 2.57
VietinBank Insurance Joint
Stock Company
21.68 73.37% 1.92
VietinBank Gold and Jewelry
Trading Company Ltd
8.67 100% 0.21
VietinBank Debt Management
and Asset Exploitation
Company Ltd
5.20 100% 0.10
Global Money Transfer
Company Ltd
2.17 100% 0.90
34
35. 6. Appendix
CTG Stock Performance 1H2019
Indicators Value
Closing price of 1st trading
session of 1H2019
(01st April 2019)
19,000 VND/share
Closing price of last
trading session of 1H2019
(28th June 2019)
19,500 VND/share
Price fluctuations in
2Q2019
17,900 - 23,400 VND/share
Volume 516,987,165 shares
Trading value 10,805 billion VND
Trading volume of foreign
investors
Net buying 13,450,400
shares
Foreign owned 29.94%
EPS 2,326 VND/share
P/E (28th June 2019) 8.38x
BVPS 19,471 VND/share
P/B (28th June 2019) 1.00x
60%
80%
100%
120%
140%
160%
180%
200%
02/01/2018 02/05/2018 30/08/2018 28/12/2018 27/04/2019
Growth of VN-Index
and Bank Stock in 1H2019
CTG VCB BID MBB
STB ACB VNIndex
35
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
0
5
10
15
20
25
30
29/06/2018 27/09/2018 26/12/2018 26/03/2019 24/06/2019
(Thousandsdong)
CTG Stock Performance in 1H2019
Volumn (thousands of share) Price
36. 6. Appendix
Historical Financials - Balance Sheet
36
Unit: USD Million 2015 2016 2017 2018 1Q2019 1H2019
Cash, gold and gemstones 233 234 267 308 312 328
Balances with the State Bank of Vietnam (“SBV”) 543 609 926 1,016 1,396 1,379
Placements with and loans to other credit institutions 3,016 4,263 4,794 5,718 4,827 5,230
Trading securities 153 86 157 137 212 354
Derivative financial instruments and other financial assets 0 31 24 12 14 12
Loans to customers 24,581 29,874 35,259 37,894 37,493 38,391
Provision for credit losses of loans to customers (208) (311) (370) (570) (708) -568
Investment securities 5,483 6,057 5,725 4,473 4,220 4,045
Long-term investments 178 145 139 145 155 142
Fixed assets 396 479 510 487 475 456
Other assets 1,234 1,340 1,401 1,395 1,508 1,552
Total assets 35,609 42,807 48,832 51,016 49,903 51,322
Borrowings from the Government and the SBV 604 217 678 2,743 2,526 3,099
Deposits and borrowings from other credit institutions 4,530 3,843 5,135 4,881 4,168 4,179
Deposits from customers 22,520 29,562 33,576 36,180 35,884 36,715
Derivative financial instruments and other financial liabilities 5 0 0 0 0 0
Financing funds, entrusted funds, and exposed funds 2,478 274 284 260 257 256
Valuable papers issued 953 1,076 1,003 2,025 2,011 2,580
Other liabilities 1,955 5,114 5,312 1,972 2,005 1,351
Total liabilities 33,046 40,086 45,989 48,060 46,852 48,179
Capital 2,111 2,085 2,061 2,034 2,020 2,026
In which: Chartered capital 1,701 1,680 1,660 1,631 1,620 1,614
Reserves 241 287 333 358 356 355
Foreign exchange differences 20 22 25 26 31 33
Undistributed profit 180 315 412 525 632 704
Total owners’ equity 2,563 2,722 2,843 2,955 3,052 3,143
Non-controlling Interests 11 12 13 13 13 26
Total liabilities and owners’ equity 35,609 42,807 48,832 51,016 49,903 51,322
Exchange rates 21,890 22,159 22,425 22,825 22,980 23,066
37. 6. Appendix
Historical Financials - Income Statement
37
Unit: USD Million 2015 2016 2017 2018 1H2019 1H2018
Interest and similar income 1,940 2,387 2,911 3,250 1,732 1,595
Interest and similar expenses (1,080) (1,380) (1,704) (2,263) (1,031) (957)
Net interest and similar income 861 1,007 1,207 987 701 638
Fees and commission income 121 150 192 261 158 118
Fees and commission expenses (54) (74) (109) (140) (73) (65)
Net gain/(loss) from fees and commission income 67 77 83 121 85 53
Net gain/(loss) from trading of foreign currencies 1 31 32 31 34 16
Net gain/(loss) from securities held for trading 6 8 14 12 6 9
Net gain from investment securities 2 2 (4) 10 (11) 6
Net gain/(loss) from other activities 101 59 89 82 15 35
Income from investments in other entities 2 7 33 16 18 9
Income from non-interest 178 183 247 273 147 128
Total income 1,039 1,190 1,455 1,259 849 765
Operating expenses (490) (580) (672) (625) (297) (314)
Net profit before provision for credit losses 549 610 783 634 551 451
Provision expense for credit losses (214) (228) (372) (340) (320) (219)
Profit before tax 336 382 411 295 231 232
Corporate income tax expense (74) (76) (78) (58) (45) (45)
Profit after tax 261 305 333 237 187 188
Non-controlling Interests (1) (1) (1) (0.1) (1) (1)
Owners’s net profit 260 304 331 237 186 187
Exchange rates 21,890 22,159 22,425 22,825 23,066 22,650
38. 6. Appendix
Investor Relations Website
http://investor.vietinbank.vn
For further information, please contact:
Secretariats to the Board of Directors and Investor Relations
Office of the Board of Directors
VietinBank
Address: 108 Tran Hung Dao street, Hanoi, Vietnam.
Email: investor@vietinbank.vn
Tel: 84-24-3 941 3622
38
39. Thank you!
Disclaimer:
This presentation is prepared by using financial reports and other reliable sources with the
aims to provide information only. Readers should use this presentation as a reference source
only. The information might be updated from time to time and we have no responsibility to
notify about that change.