TABLE OF CONTENTS Information Registered Vietnamese name Ngân hàng thương mại cổ phần Xuất nhập khẩu Việt Nam Registered English name Vietnam Export Import Commercial

MESSAGE OF THE CHAIRMAN AND THE CHIEF EXECUTIVE OFFICER

I. CORPORATE INFORMATION

1.General information

2.History and development

3.Organization and management structure

4.Development orientations

5.Risks

II. BUSINESS PERFORMANCE IN 2013

1. Operations, financial conditions and business results of 2013

2.Organization and personnel

3.Investment in Debt Management and Asset Exploitation Company (Eximbank AMC)

4.Number of shares and shareholding structure of Eximbank

III. REPORTS AND ASSESSMENTS OF THE BOARD OF MANAGEMENT

1. Evaluation of business performance

2. Financial conditions

3. Improvements in organization structure, policy and management

4. Business plan in 2014

IV. THE BOARD OF DIRECTORS' EVALUATION OF THE PERFORMANCE OF THE BANK

1. The Board of Directors' evaluation of operational aspects of the Bank

2. The Board of Directors' evaluation of the performance of the Board of Management

3. Plans and orientations of the Board of Directors

V. CORPORATE GOVERNANCE

1.The Board of Directors

2.The Board of Supervisors

3.Transactions, remunerations, and interests of the Board of Directors, the Board of Supervisors and

the Board of Management

VI. FINANCIAL STATEMENTS

1.Consolidated financial statements

2.Opinions of internal auditors

MILESTONES IN 2013

AWARDS

COMMUNITY-ORIENTED ACTIVITIES

OPERATING NETWORK

Annual Report 20133

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On behalf of the members of the Board of Directors, Board of Management and all of Eximbank's employees, we would like to extend our sincere thanks to valued Shareholders, Customers, domestic and international partners, especially the State Bank of Vietnam, for having always accompanied and assisted our Bank. We really look forward to receiving your continued support, companion, and heartfelt comments so as for Eximbank to further improve and develop solidly and robustly in the forthcoming time.

In the context of unfavourable business environment in 2013, Eximbank made lots of attempts to

execute its targets and attained the following results:

Total assets : VND169,835 billion, fulfilling 85% of the plan

Deposits : VND 82,650 billion, fulfilling 75% of the plan

Loans : VND 83,354 billion, fulfilling 97% of the plan

Profit before tax : VND 828 billion, fulfilling 26% of the plan

NPL ratio : 1.98%.

Although the business results of 2013 did not come up to the targeted plan, Eximbank still achieved certain results over the general performance of the whole banking industry. The Bank has taken initiative in transforming its business model in line with conditions of the economy with such solutions as restructuring the organization model from Head Office to branches, refining the operational apparatus, and gathering resources for the sales cadre; setting up new centralized business models namely as Assets Valuation Center, Card Sales Center, Retail Banking Center, Gold Trading Center; upgrading the operating quality of Transaction Offices to strengthen competitiveness; and promoting to settle loans and sell loans to VAMC, etc.

In the year, thanks to its endeavours in overcoming difficulties to achieve the objectives as set out in its banking operations, Eximbank was selected and presented by both domestic and foreign prestigious financial Magazines with such valuable awards as Top 1,000 World Banks by The Banker; Best Bank in Vietnam by EuroMoney; Best Managed Bank by The Asian Banker; Excellence in International Payment by The Bank of New York Mellon; and Top 50 Golden Products and Services by Vietnam Intellectual Property Association, etc.

Apart from business development, Eximbank has also made contributions to the society such as providing medical support to the poor in form of sponsoring health insurance cards, constructing medical service units and consolidating the healthcare network; donating educational aids to Scholarship Funds and Educational Promotion Associations, building schools; and sponsoring to build houses, bridges, showing gratitude to the families with meritorious services to the revolution.

Annual Report 20135

Turning to 2014, Eximbank's orientations are to continue perfecting the business model, strengthen financial capability, develop infrastructure – technology, enhance the quality of senior management and the staff, and focus on “customer servicing quality enhancement” through improving service quality, servicing attitude and customer care policy in order to carry out the proposed targets being:

Deposit reaches 100,000 billion VND (up 21% from 2013); Credit granting balance reaches 97,300 billion VND (up 10% from 2013); Profit before tax reaches 1,800 billion VND (up 117% from 2013); and NPL ratio does not exceed 3% (NPL ≤ 3%).

With the accomplishments in 2013, the Board of Directors, Board of Management together with all staff and officers in the whole network of Eximbank shall be determined to overcome the difficulties and challenges, successfully complete the planned targets set out for 2014, and effectively contribute to the general development of the whole banking industry and the economy.

On behalf of the members of the Board of Directors, Board of Management and all of Eximbank's employees, we would like to extend our sincere thanks to valued Shareholders, Customers, domestic and international partners, especially the State Bank of Vietnam, for having always accompanied and assisted our Bank. We really look forward to receiving your continued support, companion, and heartfelt comments so as for Eximbank to further improve and develop solidly and robustly in the forthcoming time.

FOR THE BOARD OF DIRECTORS CHIEF EXECUTIVE OFFICER CHAIRMAN

LE HUNG DUNG NGUYEN QUOC HUONG

6Annual Report 2013

MESSAGE OF THE CHAIRMAN AND THE CHIEF EXECUTIVE OFFICER (continued)

I. CORPORATE INFORMATION

I.General InformationRegistered Vietnamese name

Ngân hàng thương mại cổ phần Xuất nhập khẩu Việt Nam

Registered English name

Vietnam Export Import Commercial Joint Stock Bank (Vietnam Eximbank)

Chairman of the Board of Directors

Mr. Le Hung Dung

Chief Executive Officer

Mr. Nguyen Quoc Huong

Registered Head Office address

Level 8 – Suite No. L8-01-11 + 16, VINCOM CENTER,

72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Office address

Level 8 – Suite No. L8-01-11 + 16, VINCOM CENTER,

72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Tel: (84.8) 38.210.056 Fax: (84.8) 38.216.913

Website: http://www.eximbank.com.vn

Regulator

The State Bank of Vietnam

Auditor

ERNST & YOUNG Viet Nam Co., Ltd.thAddress: The 28 Floor, Bitexco Financial Tower, 2 Hai Trieu Street, District 1, Ho Chi Minh City,

Vietnam

Date of first registration

23/07/1992rdDate of registration for the 23 modification

23/12/2013

Authority of first registration

Department of Planning and Investment of Ho Chi Minh City

Business Operation Licenseth11/NH-GP dated 06 April 1992

Tax registration certificate number

0301179079

Stock information

Ho Chi Minh City Stock Exchange

Stock name

Vietnam Export Import Commercial Joint Stock Bank (Eximbank)

Stock code: EIB

8Annual Report 2013

I.2. History and development

I.2.1. History

Vietnam Export Import Commercial Joint Stock Bank is one of the first commercial joint stock

thbanks of Vietnam, being established on 24 May 1989 under Decision No.140/CT by the Chairman of the

Council of Ministers with the original name being Vietnam Export Import Bank.

thVietnam Export Import Bank officially came into operation on 17 January 1990 and received its

thLicense of Operation No.11/NH-GP dated 06 April 1992 by the Governor of the State Bank of Vietnam

allowing the Bank to operate for a term of 50 years with the registered charter capital of 50 billion VND

(equivalent to 12.5 million USD at the time of establishment) under the new name being Vietnam Export

Import Commercial Joint Stock Bank (or “Eximbank” in short).

I.2.2. Business lines

Eximbank's major business lines include: short, medium and long term fund mobilization in form

of savings deposits, payment deposits, certificates of deposit; receipt of funds entrusted for investment;

receipt of funds from domestic and foreign credit institutions; short, medium and long term lending;

discount of commercial papers, State bonds and valuable papers; foreign exchange trading; international

settlements; investment in securities and valuable papers; payment services and issuance of domestic

cards, international Visa, MasterCard, and Visa Debit cards; cash services; package financial services for

overseas study; financial advisory services; corporate bond trading; and other banking services, etc.

I.2.3. Business locations

Eximbank's Head Office is located at the Level 8 – Suite No. L8-01-11 + 16, Vincom Center, 72 Le

Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam. At the end of 2013, Eximbank's

network comprises of 206 banking units at cities and provinces nationwide, including: Main Transaction

Office, 41 Branches, 162 Transaction Offices, 01 Savings Fund, and 01 Transaction Point.

Currently, Eximbank's transaction network has covered 20 provinces and cities nationwide, including

Hanoi, Hai Phong, Nghe An, Quang Ninh, Quang Ngai, Quang Nam, Da Nang, Hue, Nha Trang, Lam Dong,

Dac Lac, Binh Duong, Dong Nai, Ba Ria – Vung Tau, Ho Chi Minh City, Long An, An Giang, Tien Giang, Can

Tho and Bac Lieu.

Annual Report 20139

I.2.4. Listing

Eximbank obtained the approval from Ho Chi Minh City Stock Exchange (HOSE) to list its shares

thfrom 20 October 2009 under Decision No.128/QD-SGDHCM.

Stock name: Stock of Vietnam Export Import Commercial Joint Stock Bank.

Stock type: Common

Par value: VND10,000 per share

Total listed volumes: 1,235,522,904 shares

Total listed value: 12,355,229,040,000 VND (as per par value)

I.2.5. Prominent events through years of operation

1991 & 1992: Entrusted by the State Bank of Vietnam and the Ministry of Finance to carry out part

of the Swedish non-refundable finance program extended to Vietnamese entities having demands for

importing goods from Sweden.

1993: Join the Electronic Clearing System of the State Bank.

1995: Join SWIFT (Society for Worldwide Interbank Financial Tele communication) network;

Selected as 1 among 6 Vietnamese banks to participate in the Bank Modernization Project

organized by the State Bank and funded by the World Bank.

1997: Become a principal member of MasterCard International.

1998: Become an official member of Visa International.

2003: Launch the online Intra-bank Payment System in the whole network.

2005: Be the first bank in Vietnam to issue international Visa Debit cards.

2007: Sign strategic partnership agreements with 17 domestic and foreign investors, especially

the strategic alliance agreement with Sumitomo Mitsui Banking Corporation (SMBC) of Japan.

2008: Increase the charter capital to 7,220 billion VND.

2009: Raise the charter capital to VND 8,800 billion VND and officially listed on Ho Chi Minh City

Stock Exchange.

2010: Increase the charter capital to 10,560 billion VND.

10Annual Report 2013

2011: Increase the charter capital to VND 12,355 billion;

Selected by The Banker magazine to appear in its Top 1,000 World Banks and Top 25 Banks by

Asset Growth in 2010.

2012: Presented “ Best Domestic Bank in Vietnam 2012” award by the AsiaMoney magazine;

Continue to be ranked in the Top 1,000 World Banks 2012 by The Banker magazine;

Officially launch the new set of brand identity.

2013: Awarded by The Asian Banker Magazine with “Best Managed Bank in Vietnam 2013”; by

EuroMoney Magazine with “Best Bank in Vietnam 2013”; and continue to be ranked in the Top 1,000 World

Banks 2013 by The Banker magazine.

Eximbank is one of the first banks issuing JCB-branded international card in Vietnam.

Annual Report 201311

46,989

70,70572,777

85,51982,650

2009 2010 2011 2012 2013

CONSOLIDATED TOTAL MOBILIZED FUNDS (BILLION VND)

35,580

62,346

74,663

2009 2010 2011 2012 2013

74,922

83,354

1,533

2,378

4056

2,851

828

2009 2010 2011 2012 2013

8.65

13.51

20.39

2009 2010 2011 2012 2013

ROE (%)

13.3

4.3

CONSOLIDATED TOTAL LOAN BALANCE (BILLION VND)

CONSOLIDATED PROFIT BEFORE TAX (BILLION VND)


Financial highlights over the years

65,448

131,111

183,567170,156

169,835

2009 2010 2011 2012 2013

CONSOLIDATED TOTAL ASSETS (BILLION VND)

8,800

10,560

12,355

2009 2010 2011 2012 2013

CHARTER CAPITAL (BILLION VND)

12,355 12,355

I.3. Organization and management structureI.3.1 Organization model


BOARD OF SUPERVISORS(BOARD OF INTERNAL AUDITORS)

OFFICE OF THE BOARD OF DIRECTORS

EXIMBANK CONSTRUCTION WORK PROJECT MANAGEMENT

(SPECIALIZED UNIT)

BOARD OF DIRECTORS

COUNCILS/COMMITTEES

GENERAL MEETING OF SHAREHOLDERS

CHIEF EXECUTIVE OFFICER

VICE PRESIDENTS

Chief Accountant

TRAINING CENTER

COUNCILS/COMMITTEES

Alliance Dept.

Corporate Planning Dept.

International Relations Dept.Marketing Dept.Quality Management Dept.

Market Risk Management Dept.Operational Risk Management Dept.Credit Risk Management Dept.Legal & Compliance Dept.Internal Inspection & Control Dept.General Accounting Dept.

Business Development Division

Operational Supervision Division

NPL Analysis Dept.Assets – Liabilities Settlement Dept.Dispute Resolution Dept.

Branch Support & Development Dept.Administration Dept.Eximbank Representative Office in Hanoi

Human Resources Management Dept.

Regional Offices

Debt Settlement Center

Office Division

Human Resources Division

REGIONS

MAIN TRANSACTION OFFICE/BRANCHES

TRANSACTION OFFICES/POINT

Corporate Banking Division

Retail Banking Center

Retail Banking Division

Card Center

Treasury & Financial Investment Division

Credit Center

Valuation Center

Information Technology Division

Corporate Customers Dept.International Settlement Dept.Japanese Business Dept.

Sales Manegement Dept.Sales Support Dept.

Individual Customer Service Dept.

Card Sales Promotion Dept.Card Business Management Dept.

Gold Trading CenterForeign Currency Trading Dept.Financial Investment Dept.Fund Trading Dept.Cash Dept.

Credit Appraisal Dept.Credit Analysis Dept.Credit Support Section

Immovable Assets Valuation Dept.Movable Assets Valuation Dept.Regional Valuation Section

Data, Infrastructure & Security Management CenterIT Product- Service Maintenance & Development CenterIT Product-Service Project Research CenterElectronic Banking Dept.

I.3.2. Management structure

The Board of Directors

Mr. Le Hung Dung Chairman

Mr. Naoki Nishizawa Vice Chairman

Mr. Ha Thanh Hung Vice Chairman

Mr. Nguyen Quang Thong Vice Chairman

Mr. Hoang Tuan Khai Member

Mr. Dang Anh Mai Member

Mr. Lawrence Justin Wolfe Independent member

The Board of Supervisors

Mr. Dang Huu Tien Chief Supervisor

Mr. Nguyen Hong Long Member

Mrs. Nguyen Thi Phung Member

The Board of Management

Mr. Nguyen Quoc Huong Chief Executive Officer

Mr. Tran Tan Loc Standing Executive Vice President

Mr. Dao Hong Chau Vice President

Mrs. Dinh Thi Thu Thao Vice President

Mr. Kenji Kuroki Vice President

Mr. Nguyen Thanh Nhung Vice President

Mrs. Van Thai Bao Nhi Vice President

Mr. Mitsuaki Shiogo Vice President

Mr. Le Anh Tu Vice President

Mrs. Bui Do Bich Van Vice President

Mr. Nguyen Ho Hoang Vu Vice President

Mr. Le Hai Lam Vice President

Mr. Nguyen Quang Triet Vice President

Mr. Cao Xuan Lanh Vice President


I.3.3. Subsidiaries and Affiliated Companies

Eximbank has one subsidiary which is Debt Management and Asset Exploitation One-member

Limited Liability Company with the registered charter capital of 1,700 billion VND, located at No. 24B

Truong Dinh, Ward 6, District 3, HCMC. The actual paid-up capital as of 31 December 2013 is 955 billion

VND.

Besides, Eximbank is the founding shareholder of 02 affiliated companies, namely Viet Dragon

Securities JSC and Exim Real Estates JSC. Eximbank has assigned representatives to the Board of Directors

of these companies and is entitled to participate in the policy-planning process of these companies.

List of affiliated companies Business lines Address Eximbank'sshareholding

Viet Dragon Securities JSC Securities 141 Nguyen Du Street, Ben Thanh Ward, District 1, HCMC

10.86%

Exim Real Estates JSC Real estate trading 179EF Cach Mang Thang 8, Ward 5, District 3, HCMC

10.99%

I.4. Development orientations

I.4.1. Vision

Eximbank will take advantage of market opportunities to maintain reasonable and sustainable

growth, strengthen its foundation, heighten position and develop Eximbank into a modern commercial

joint stock bank at which all shareholders, investors, customers and partners are confident with their

capital investment and safety; a bank that offers a variety of high quality banking and financial products

and services; and a brand with high prestige in the banking industry and great contribution to the

community and society.

I.4.2. Development targets

(i) To make the best efforts to be in Top 03 commercial joint stock banks in Vietnam.

(ii) To continue promoting its advantage of being a bank with customers base of export and

import companies all over the country, as well as further developing the retail banking system, especially

for individual customers.

(iii) To speed up the implementation of international standards in the Bank's operations.


I.4.3.Development orientatons up to 2015 and vision up to 2020

Eximbank has developed business development plans up to 2015 and vision up to 2020, focusing

on the following areas:

- Maintaining reasonable credit growth, in accordance with the State Bank's orientations from

time to time.

- Promoting the fund mobilization from individual customers as well as economic entities to

increase Eximbank's market shares; changing the fund mobilization structure, thereby increasing more

deposits from corporate customers and funds with longer terms, etc.

- Enhancing risk management, applying international standards into the Bank's operations to

ensure safe and sustainable development.

- Continuing with brand promotion programs to bring Eximbank brand as the top bank brand in

Vietnam.

- Investing in infrastructure construction and network development to serve for banking

activities, strengthening the presence of Eximbank in Ho Chi Minh City, Hanoi and other cities and

provinces with great economic potentialities, at commercial centers, industrial zones and export

processing zones, etc.

- Further concentrating on preserving and improving environmental quality, protecting human

rights, and complying with regulations on labor, employment and other social policies during the course

of operation of Eximbank.

I.5. Risks

The Bank is aware of and takes control over risks that are likely to affect its business activities or

the execution of its general objectives, including:

a) Credit risk is the loss that is likely to happen with respect to the Bank's loans due to customers'

failure or inability to perform part or whole of their obligations as committed;

b) Market risk is the risk arising out of market fluctuations causing adverse impacts on the Bank's

income and (or) capital, including:

(i) Interest rate risk is the risk resulted from adverse volatilities of interest rates causing negative

impacts on the Bank's income and (or) capital. Interest rate risk may arise from:

- Difference in the times of interest rate fixation (revaluation risk);


- Changes of the relationship among different market interest rates;

- Changes of the interest rate relationship among different tenors (yield curve risk);

- Interest-linked option products.

(ii) Exchange rate risk is the risk resulted from exchange rate volatilities causing negative impacts

on the Bank's income and (or) capital.

(iii) Investment value risk is the risk resulted from price fluctuations of stocks, bonds and other

capital and securities investments, leading to the diminution of investments held by the Bank.

c) Liquidity risk is the risk arising when the Bank is unable to meet all of its capital obligations

which fall due; or suffers great losses to perform such obligations.

d) Operational risk is the risk of causing losses to the Bank by reasons of insufficient or erroneous

internal procedures, human mistakes, faulty or inappropriate internal systems, or impacts of external

incidents.


II. BUSINESS PERFORMANCE IN 2013

II.1. Operations, financial conditions and business results of 2013

In the context of tough operating environment, Eximbank endeavored to consolidate its position

as one of the top commercial joint stock banks in Vietnam, maintain stable businesses, and ensure

liquidity and operational safety. Total assets scope achieved 169,835 billion VND, slightly decreasing (by

0.2%) compared to 2012 and fulfilling 85% of the plan. Mobilized funds from economic entities and

individuals converted into VND reached 82,650 billion VND, declining by 3.4% compared to 2012 and

fulfilling 75% of the plan. Total credit balance granted to economic entities and individuals (including

loan balance and corporate bonds) reached 88,453 billion VND, rising by 13.7% compared to 2012 and

completing 99% of the plan. Of which, the loan balance to economic entities and individuals converted to

VND was 83,354 billion VND, increasing by 11.3% against 2012 and completing 97% of the plan. As for

operating result in 2013, Eximbank achieved the profit before tax of 828 billion VND, fulfilling 26% of the

plan. The average return-on-asset (ROA) and average return-on-equity (ROE) ratios of the Bank reached

0.4% and 4.3% respectively.

Prudent ratios of Eximbank were within the safety limits as set out by the State Bank. As of 31

December 2013, the consolidated capital adequacy ratio reached 14.47%, which is higher than the

regulation of 9% imposed by the State Bank.

Regarding shareholders' interests, Eximbank had made 2 dividend payments for 2012 in cash: the

first payment at the rate of 8.0%/par value was made in January 2013, and the latter at the rate of 5.5%/par

value in June 2013.

Basic financial indicators

Items Unit 2012 2013 % +/- compared to 2012

1. Assets and Liabilities

Total assets billion VND 170,156 169,835 -0.2%

Shareholder's equity billion VND 15,812 14,680 -7.2%

Of which: Charter capital billion VND 12,355 12,355 0.0%

Capital adequacy ratio (CAR) % 16.38 14.47


2. Operating results

Mobilized funds from economic

entities and individuals

Deposits

Total credit granting balance

Of which, total loan balance to

economic entities and individuals

Lending volume

Recovery volume

Overdue loans (groups 2-5)

Non-performing loans (groups 3-5)

Overdue loans /total loan balance

NPL ratio

Overdue guarantees/total

outstanding guarantees

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

%

%

%

85,519

2,426,067

77,782

74,922

244,967

244,708

3,011

988

4.02

1.32

0.06

82,650

2,006,255

88,453

83,354

250,492

242,060

2,929

1,652

3.51

1.98

0.06

-3.4%

-17.3%

13.7%

11.3%

2.3%

-1.1%

-2.7%

67.2%

3. Financial conditions

Net interest income

Net non-interest income

Total operating income

Total operating expenses

Net operating income before

provision for credit losses

Provision expenses

Profit before tax

Corporate income tax

Profit after tax

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

billion VND

4,901

486

5,387

(2,297)

3,090

(239)

2,851

(712)

2,139

2,736

513

3,249

(2,121)

1,128

(300)

828

(169)

659

-44.2%

5.6%

-39.7%

-7.7%

-63.5%

25.5%

-71.0%

-76.3%

-69.2%




4. Profitability

Return on Equity (ROE)

Return on Assets (ROA)

5. Liquidity

Quick ratio (converted to VND)

Short-term funding used for

medium and long term lending

6. Dividend payout ratio

%

%

%

%

%/p.a

13.3

1.2

22.66

10.72

13.5

4.3

0.4

17.43

18.67

4(*)

(*) tentative

Eximbank concentrated on restructuring the organization model in way of refining to enhance

operating efficiency, reduce overlapping functions and duties among the units, decrease indirect

employees and intermediary managers whilst strengthening direct sales forces; improved gold trading

and foreign currency trading operation models, and established new centralized management models

such as card sales center, retail banking center, debt settlement center, valuation center, etc. in order to

efficiently promote credit growth together with tightly controlling credit quality, drastically handling bad

debts, and curbing NPL ratio at low level; reinforced and upgraded the operating quality of transaction

offices to enhance businesses, heighten competitiveness and expand market shares; set up Electronic

Banking Department to promote the diversified development of products and services on online

transaction channels; continued pushing up the implementation of focused projects within the

Information Technology Development Program; and established Quality Management Department to

improve customer care quality, etc.

The brand position of Eximbank has been increasingly asserted in domestic and international

financial markets. Eximbank continued to be ranked in Top 1,000 World Banks 2013 by The Banker

magazine, awarded with “Best Managed Bank in Vietnam 2013” by The Asian Banker magazine, and “Best

Bank in Vietnam 2013” by EuroMoney magazine.


Appointed as Acting Chief Executive Officer in September 2013 and officially appointed as Chief

Executive Officer in December 2013. He is currently the Chief Executive Officer of Vietnam Export Import

Commercial Joint Stock Bank.

Holding a Master degree of Economics, he has been working for the Bank since 1993 and making

great contributions to its development during the last 21 years. He used to hold such positions as Deputy

Director and then Director of Credit Department, Director of Corporate Credit Department, Director of

Credit Management Department, and Vice President cum Director of Main Transaction Office No. 1.

Appointed in March 2007, and currently being the Standing Executive Vice President of Vietnam

Export Import Commercial Joint Stock Bank.

Holding a Ph.D. of Economics in Finance – Credit, he started working for Vietnam Export Import

Commercial Joint Stock Bank since 1994 and has made extensive contributions to the Bank's

development throughout his 20 years of service. He used to hold various positions, namely Deputy

Director of Transaction Accounting Department, Deputy Director and then Director of Credit Card

Department, Assistant to the Chief Executive Officer cum Deputy Chief of the Development Project

Section, Secretary of the Board of Directors cum Deputy Chief of the Office of the Board of Directors of

Eximbank.

Mr. Nguyen Quoc HuongChief Executive Officer

Mr. Tran Tan LocStanding Executive Vice President

II.2.1 Introduction of the Board of Management

II.2.ORGANIZATION AND PERSONNEL


Appointed in April 2004, holding a Master degree of Economics, and currently being the Vice

President of Vietnam Export Import Commercial Joint Stock Bank.

He has been working for the Bank since 1992 and, throughout such 22 years, made lots of

contributions to the development of the Bank. He used to be Deputy Director and then Director of

Treasury Department.

Appointed in December 2007, holding a Master degree of Economics, and currently being the

Vice President of Vietnam Export Import Commercial Joint Stock Bank.

She has served the Bank for the past 23 years and used to hold such positions as Deputy Director

and then Director of Transaction Accounting Department, Director of Corporate Customer Services

Department, Deputy Director of Main Transaction Office No.1, and Head of Retail Banking Division.

Mr. Dao Hong ChauVice President

Mrs. Dinh Thi Thu ThaoVice President


Appointed in July 2008, and currently being the Vice President of Vietnam Export Import

Commercial Joint Stock Bank cum Co-Director of Alliance Department.

He has been serving Sumitomo Mitsui Banking Corporation since 1989 and used to be the Senior

Vice President of the Representative Office of Sumitomo Mitsui Banking Corporation in Ho Chi Minh City

from 2005 to 2006.

Appointed in November 2010, holding a Master degree of Economics, and currently being the


During his 19 years of service for the Bank since 1995, he has made lots of contributions to the

development of the Bank. He used to hold such positions as Deputy Director of Asset Management and

Exploitation Department, Deputy Director of Planning and Treasury Department, Deputy Director of Nha

Trang Branch, Deputy Director of Corporate Credit Department, Deputy Director and then Director of

Credit Management Department and Head of Operational Supervision Division.

Mr. Kenji KurokiVice President

Mr. Nguyen Thanh NhungVice President


Appointed in May 2012, holding a Master degree of Economics, and currently being the Vice


Throughout her 20 years of service, she has greatly contributed to the Bank's development. She

used to hold such positions as Deputy Director of Credit Department, Director of Corporate Credit

Department, and Head of Corporate Banking Division.

Appointed in June 2012, holding a Bachelor degree of Economics, and currently being the Vice


He has been serving Sumitomo Mitsui Banking Corporation since 1986. He used to hold such

positions as Vice President of JRI America Company, and Senior Vice President of SMBC America

Information System Division from May 2005 to February 2012.

Mrs. Van Thai Bao NhiVice President

Mr. Mitsuaki ShiogoVice President


Appointed in August 2013, holding a Master degree of Economics, and currently being the Vice


He has been working for the Bank since 1995 and making different contributions to its

development during the last 19 years. He used to hold such positions as Deputy Manager of General and

Treasury Department of Hanoi Branch, Long Bien Branch Director and North Regional Director.

Appointed in August 2013, holding a Master degree of Economics, and currently being the Vice


Having been serving the Bank since 1993, she has greatly contributed to its development in the

last 21 years. She used to hold various positions, namely Manager of International Settlement

Department of Eximbank Da Nang Branch, Eximbank Da Nang Branch Director, and Central and

Highlands Regional Director.

Mr. Le Anh Tu Vice President

Mrs. Bui Do Bich VanVice President


Appointed in September 2013, holding a Master degree of Economics, and currently being the

Vice President cum Chief Financial Officer of Vietnam Export Import Commercial Joint Stock Bank.

Starting to work at Eximbank in 1993, he has been making contributions to its development

throughout his 21 years of service. He used to hold such positions as Deputy Director then Director of

General Accounting Department, and Chief Accountant of Eximbank.

Appointed in September 2013, holding a Bachelor degree of Economics, and currently being the


Since his service at Eximbank in 1996, he has been making contributions to its development

during the last 18 years. He used to hold such positions as Deputy Director of Individual Credit

Department, Director of Corporate Credit Department, and Eximbank Tan Son Nhat Branch Director.

Mr. Nguyen Ho Hoang VuVice President

Mr. Le Hai LamVice President


Appointed in September 2013, holding a Master degree of Economics, and currently being the


Starting to work at Eximbank in 1992, he has made contributions to its development in his 22

years of service. He used to hold various positions such as Deputy Director then Director of Cash

Department, and Director of Human Resources Management Department.

Received and appointed in December 2013, holding a Master degree of Economics, and currently

being the Vice President of Vietnam Export Import Commercial Joint Stock Bank.

He used to hold such position as: Vice President of Dai Cat Hoang Long Joint Stock Company,

Deputy Director of Planning and Investment Department of Saigon Jewelry Corporation, and Vice

President of Saigon Jewelry Company Limited.

Mr. Nguyen Quang TrietVice President

Mr. Cao Xuan LanhVice President


II.2.2. Changes in members of the Board of Management

1. Mr. Truong Van Phuoc: resigned from his Vice Chairman of the Board of Directors cum Chief

Executive Officer titles in September 2013.

2. Mr. Nguyen Quoc Huong: was appointed as Acting Chief Executive Officer in September 2013

and officially appointed as Chief Executive Officer in December 2013.

3. Mr. Le Anh Tu and Mrs. Bui Do Bich Van were appointed as Vice President in August 2013.

4. Mr. To Nghi: resigned from his Vice President title and was assigned to take over the position of

Standing Vice Chairman of the Central Investment Council under the Board of Directors in

September 2013.

5. Mr. Nguyen Ho Hoang Vu, Mr. Nguyen Quang Triet and Mr. Le Hai Lam were appointed as Vice

President in September 2013.

6. Mr. Cao Xuan Lanh: was received and appointed in December 2013.

II.2.3. Shareholding ratio by members of the Board of Management

No. Full name Position Shareholding ratio (%)

01

02

03

04

05

06

07

08

09

10

11

12

13

14


Mr. Tran Tan Loc

Mr. Dao Hong Chau

Mr. Nguyen Thanh Nhung

Mrs. Dinh Thi Thu Thao

Mrs. Van Thai Bao Nhi

Mr. Kenji Kuroki

Mr. Mitsuaki Shiogo

Mrs. Bui Do Bich Van

Mr. Le Anh Tu

Mr. Nguyen Ho Hoang Vu

Mr. Le Hai Lam

Mr. Nguyen Quang Triet

Mr. Cao Xuan Lanh


Standing Executive Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President cumChief Financial Officer

Vice President

Vice President

Vice President

0.0033689

0

0.0057685

0.0053907

0.0016472

0.0000009

0

0

0.0042342

0

0.0023008

0

0.0001102

0

Appointed onth 20 Dec 2013

Notes

Appointed on th06 Aug 2013

Appointed on th05 Sep 2013



Appointed on nd02 Dec 2013


Appointed on th06 Aug 2013

II.2.4. Human Resources and Personnel Policies

1. Human Resources

Performing organization model restructuring, total personnel of Eximbank (including the

subsidiary) as of 31/12/2013 was 5,362 persons, reducing by 438 persons (or 7.5%) compared to the same

period of 2012. From that, Eximbank has maintained a young, dynamic and well-trained personnel

structure, whereby 80% are aged from 18 to 35 and over 76% are holding graduate and post-graduate

degree.

5%

14%

5% 5%

Post-graduate Graduate College

High school and below Vocatinal

71% 80%

18%2%

Aged 18 - 35 Aged 36 - 50

Aged over 50

Personnel structure in terms of education level Personnel structure in terms of age

2. Personnel Policies

Eximbank applies competitive treatment regime in the direction of attaching business results

and working efficiency to treatment regimes for salary, bonus, car, etc.

In 2013, Eximbank kept on expanding bonus policy for over-achievement of business targets

with respect to sales force. Simultaneously, Eximbank continued perfecting fixed salary budget

mechanism to each unit, creating momentum for staff to strive for and boost business activities.

Additionally, in order to set up and develop human resources qualified for development

objectives, Eximbank has modified, perfected and expanded the training programs on a regular basis.

For the year 2013, Eximbank organized 104 training classes with 6,496 learners.

Social and union activities

In 2013, the Trade Union and Youth Union of Eximbank actively executed the activities to care for


spiritual life of staff such as music shows, sports events, professional competitions, cooking competitions,

photogenic staff competitions etc., which created ebullient atmosphere and receives response with

great enthusiasm from the majority of employees.

Going forward the tradition from the first days of establishment till now, in 2013, Eximbank

continued participating in and contributing to charity and social security activities, namely as programs

of buying health insurance cards for poor patients; “surmounting the fate”; “connecting dreams, crossing

rivers and lakes for learning”; “light of belief”; “for beloved Truong Sa pupils”; sponsoring for the

construction of bridges, roads, medical service units, gratitude houses; supporting scholarship funds,

charity social funds, etc.

II.3. Investment in Debt Management and Asset Exploitation Company (Eximbank AMC)

II.3.1. Business characteristics of the company

III.3.1.1. Form of capital ownership

The Debt Management and Asset Exploitation One-member Limited Liability Company

(Eximbank AMC) was established under Decision No. 157/2010/EIB/QD-HDQT dated 21 April 2010 of the

bank's Chairman of the Board of Directors and Decision No. 754/QD-NHNN dated 01 April 2010 of the

State Bank of Vietnam.

Eximbank AMC's Business Registration Certification No. 0310280974 was granted by the

Department of Planning and Investment on 24 August 2010 with the initial registered charter capital of

VND300 billion. The second amendment was made on 08 September 2011, the third on 30 March 2012,

the eighth on 12 November 2013 with the registered charter capital of VND1,700 billion. The paid-up

charter capital as of 31 December 2013 was VND955 billion.

III.3.1.2. Business sector, business lines and main business activities

Receive and manage outstanding loans of Vietnam Export Import Commercial Joint Stock Bank and the

collaterals related to loans to settle and recover funds in the quickest time;

Proactively sell collaterals, distrained and sequestered properties under the discretion of Vietnam Export

Import Commercial Joint Stock Bank at market price as approved by the Standing Board of Directors;

Restructure outstanding loans; handle collaterals; perform other activities under the authorization of

Vietnam Export Import Commercial Joint Stock Bank in accordance with law regulations.

Buy and sell outstanding loans of other credit institutions, and of the asset management companies of

other commercial banks as stipulated by law.


No. Shareholder Number of shares Shareholding ratio (%)

- Major shareholders (owning 5% of charter capital and upwards)

- Shareholders owning less than 5% of charter capital

1

348,636,855 28.218

886,886,049 71.782

Entity shareholder 769,145,420 62.253

- Domestic 435,777,768 35.271

- Foreign 333,367,652 26.982

Individual shareholder 466,377,484 37.747

- Domestic 464,155,938 37.568

- Foreign 2,221,546 0.180

2

- Foreign shareholder 335,589,198 27.162

- Domestic shareholder 899,933,706 72.838

- State shareholders 169,680,492 13.733

- Other shareholders 1,065,842,412 86.267

- Founding shareholders 0 0

3

4

II.3.2. Summary of the operation, financial conditions and business results of AMC

In 2013, Eximbank AMC performed three main functions: managing and exploiting assets; acting

as the developer of some construction works of Eximbank and Eximbank AMC under the Bank's

authorization; and develop the warehouses to manage the pledged/mortgaged commodities of the

units within Eximbank's network.

Some financial targets of Eximbank AMC as of 31/12/2013:

- Total assets: 968,146 million VND.

- Owners' equity: 955,000 million VND.

- Profit before tax: 1,528 million VND.

- Profit after tax: 1,209 million VND.

II.4. Number of shares and shareholding structure of Eximbank

II.4.1. Number of shares

As at 31/12/2013, number of shares: 1,235,522,904 shares

Number of transferable shares: 1,008,878,326 shares

Number of non-transferable shares as regulated at clause 1 Article 56 –

Law on Credit Institutions 2010: 226,644,578 shares

II.4.2. Shareholding structure


Details of major shareholders

No. Name Line of business

Contact address Number of shares

Holding ratio (%)

1 Commercial Joint-stock Bank for Foreign Trade of Vietnam (Vietcombank)

Banking 198 Tran Quang Khai Street, Hoan Kiem District, Hanoi

101,245,131 8.195

2 VOF Investment Ltd Đầu tư tài chính

P.O Box 2208, Road Town, Tortola, B.V.I

62,062,517 5.023

3 SUMITOMO MITSUI BANKING CORP.

1-2 Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005 Japan

185,329,207 15.000Ngân hàng

II.4.3. Changes in Shareholders' equity

Eximbank did not increase its charter capital in the year 2013

II.4.4. Treasury stock transactions

On 06/12/2013, Eximbank issued Notice No. 489A/2013/EIB/TGD regarding anticipated

redemption of 11,000,000 EIB shares for treasury stock and on 17/01/2014 Eximbank reported in the

official dispatch No. 156/2014/EIB/TGD the completed buyback of 6,090,000 shares for treasury stock

with average trading price of VND12,853/share by order-matching method and the official dispatch No.

157/2014/EIB/TGD the number of outstanding shares with voting right (1,229,432,904 shares).

II.4.5. Other securities: none

Cộng 348,636,855 28.218


III. REPORTS AND ASSESSMENTS OF THE BOARD OF MANAGEMENT

III.1. Evaluation of business performance

In 2013, although the business performance dealt with many impediments and challenges,

Eximbank still maintained its growth pace with respect to major targets such as loan balance to

customers growing by 11.3%; funds mobilized from economic entities and individuals despite dropping

down by 3.4% but increasing by 17.4% compared to 2012 should the decrease in gold mobilized funds as

regulated by the State Bank be excluded; NPL ratio being curbed at a fairly low rate compared to the

whole industry. As for the profit target, with the policy of sharing difficulties with customers by reducing

lending rates, offering various credit packages with preferential interest rates and creating favourable

conditions for the enterprises to effectively approach the funds at low cost, net interest income

accordingly dropped down and profit before tax only completed 26% of the plan. Regarding the

governance and administration, Eximbank performed strong and comprehensive restructuring from the

Head Office to Branches, strengthened the sales force, consolidated and increased customer base,

established centralized management models, focused on developing retail banking activities and

electronic banking, upgraded operating quality of the transaction offices, continuously innovated

products and services and set up suitable products to customers' needs, enhanced service quality,

reinforced risk management, tightly controlled credit quality, boosted brand promotion, etc., which

helped gradually surmount the limitations and outstandings to further improve business efficiency of

the whole network and lay safe and solid foundation for development in the coming years.

III.1.1. Retail Banking

Retail fund mobilization

As of 31/12/2013, funds mobilized from individual customers reached 54,865 billion VND, down

15.3% compared to the early year. If the decrease in gold mobilized funds as regulated by the State Bank

was excluded, mobilized funds from individual customers still posted good growth, rising by 10%

compared to the early year with retail customer base accounting for up to 96% of the total number of

customers (equivalent to more than 760,000 individual customers), surging by 16% from the early year.

Such result showed customers' great trust in Eximbank in the context that Vietnamese banking sector

encountered with many challenges and obstacles in 2013.

Eximbank has always been proactive, timely and flexible in its mobilization policies, actively

monitored and grasped the market, promptly given out better customer care solutions, made

diversification in combination with modern technology, enhanced products/services, thus meeting the

demands of different retail customer segments.


Main products and services offered to individual customers of Eximbank are: Online Savings

Deposit, Savings Deposit in Installments, Phuc Bao An Savings Deposit, Savings Deposit For Beloved

Children, Truong Phat Loc Savings Deposit, Salary Accumulation Savings Deposit, etc. Besides, there are

many attractive promotion programs with diversified, practical and high-valued gift portfolio, and

multiple utilities such as deposit in one place - withdrawal in different places, registration for automatic

transfer of interest or automatic funds transfer, etc. together with Eximbank VIP service with many

prominent privileges, priority servicing and enjoyment of high-class service.

Retail credits

Credit growth in the year 2013 faced with many impediments under the common context of the

economy with inventories and purchasing power not being much improved, resulting to decrease in

customers' needs for borrowing funds. Besides, with the restricted corporate credit demand, many banks

focused on exploiting solutions to increase retail credits in order to boost credit growth.

Eximbank had strived to overcome the tough situation, taken the initiative to transform business

model in line with economic conditions, and officially established Retail Banking Center to strengthen

retail banking activities. Simultaneously, Eximbank implemented various lending programs at

preferential interest rates in combination with reducing lending rates to help share difficulties with

customers. Thanks to that, retail credit balance in 2013 reached 29,018 billion VND (accounting for 35% of

the total loan balance of the whole Eximbank's network), up 10% from the early year (or 2,550 billion

VND).

In 2014, Eximbank orients to keep on perfecting its business model and enhancing retail sales

force competence for the target of increasing market share in conjunction with improving credit quality

and customer service quality.

Card issuance and acquiring

In 2013, total number of cards issued reached 132,972 cards, raising the total number of issued

cards to 1,286,855 cards. Card use volume reached 10,822 billion VND, growing by 21% compared to

2012.

Eximbank's merchant network achieved 2,672 units with 4,928 POS's and 260 ATMs distributed in

major locations nationwide. Total acquiring volume during 2013 through the channels was quite

satisfactory with 10,925 billion VND, up 21% over the same period last year.

Presently, Eximbank has connected to the ATM, POS system with 46 banks in the 2 big card

alliances in Vietnam (Smartlink, Banknet), expanded POS payment system and diversified types of


businesses accepting card payment to satisfy customers' needs for card use.

In addition to the expansion and investment in the acceptance network and connection to the

banks, in 2013 with an aim to enhance card service quality, Eximbank launched many products and

services, increased facilities and customer care programs, prominently as JCB credit card, MasterCard

Debit card, Teacher Card Paypass card products; international card online transaction authentication

service; transaction identification and authentication by fingerprint service, utilities enhancement on

Internet Banking and Mobile Banking (card issuance registration, domestic and international card

lock/unlock, inquiry for card limit, payment for statement balance of credit card, registration for card

services, etc.), preferential and promotional programs with multiple forms and ample and diversified

substance.

Services

Inward remittance payment: total retail inward remittance volume through Eximbank in 2013

achieved nearly 293 million USD, increasing by 22% (or 54 million USD) compared to 2012; number of

transactions also rose by 34%. In the year, Eximbank attracted more than 11,000 clients receiving inward

remittance, mostly from the US, Singapore, Germany and Australia. MoneyGram express service gained

strong growth rate with the volume increasing by 74% compared to 2012, attracting more than 17,000

transactions.

Outward overseas remittance: total outward overseas remittance volume of retail customers in

2013 reached more than 202 million USD, rising by 30% against 2012. Of which, overseas study

remittance volume continued its growth pace and gained more than 165 million USD, accounting for

82% of total overseas remittance volume, increasing by 30% compared to 2012. With the fast – safe –

handy criteria, competitive fee policies, worldwide correspondent network, and years of experience in

overseas study remittance, Eximbank always creates psychology of confidence and satisfaction for

customers on professionalism and customer- servicing attitude of staff and officers upon banking with

Eximbank.

III.1.2. Corporate Banking

Corporate fund mobilization

In 2013, domestic economy continued its stagnancy with number of enterprises being dissolved

and ceasing its operations higher than the two previous years, making not only credit activity but also

fund mobilization from corporate customers of Eximbank deal with many difficulties.

In the context that credits still grow restrictedly, Eximbank had made efforts to reduce lending

rates to attract corporate customers; thanks to that, corporate fund mobilization still gained encouraging


results. New customer development was also boosted, actively contributing to raise fund mobilization.

As of end of 2013, total mobilization from corporate customers achieved 27,785 billion VND, growing by

34% compared to 2012.

Corporate customer services

According to the orientation to build up Eximbank into a modern bank providing a variety of high

quality products and services, and to enhance its competitiveness, in the year 2013, Eximbank continued

perfecting, developing and newly launching lots of products and services, offering many more facilities

to customers.

Traditional services like collection and payment on behalf of customers, payroll, domestic and

overseas funds transfer for payment, etc. are always paid with special attention for innovations in terms of

procedures and technology to have them performed quickly and precisely.

In order to satisfy customers' increasing needs, Eximbank has incessantly invested in engineering

technology and human resources to improve and perfect Internet Banking service. At the moment,

Eximbank's Internet Banking service has well accommodated transaction demands of customers.

Besides, Eximbank also expands its association and partnership to launch other utility services,

and cooperates with State agencies, public service suppliers, and many other units to offer diversified

collection services.

Corporate credits

During the tough period of the economy and with the non-thriving production and business of

the enterprises, Eximbank has implemented many supportive policies to the enterprises such as

reducing lending rates, launching lots of preferential product packages to meet customers’ demands, etc.

In addition, in the year 2013, Eximbank set up sales force (RM) in order to seek for new customers, which

has initially brought positive results. Thanks to that, loan balance in 2013 posted fairly good growth. As of

31/12/2013, loan balance of corporate customers reached 54,336 billion VND, rising by 12% compared to

the early year.

International settlement

2013 was still a hard and challenging year to the operations of Vietnamese banking system in

general and international settlement activity in particular, which stemmed from complicated

evolvements of the local and international economy, perfunctory operation or bankruptcy of Vietnam's

export and import companies, leading to the shrinkage in both quantity and value of international

settlement transactions and activities at the banks.


However, with the advantages in terms of brand name, high-quality human resources, flexible

policies, proper product packages, and a wide correspondent network throughout the markets of

America, Japan, Singapore, Taiwan, Hong Kong, Korea, China and EU region, etc., international settlement

activity at Eximbank just slightly contracted compared to 2012 as import bills volume increase was not

sufficient to compensate for the export bills volume decrease.

For the year 2013, total international settlement volume of Eximbank gained 4,944.94 million USD

(dropping down 44.36 million USD or 0.89% compared to 2012), of which:

- Export settlement volume reached 2,229.76 million USD, accounting for 1.69% of the country's export

turnover, decreasing by 13.67% compared to 2012.

- Import settlement volume reached 2,715.18 million USD, accounting for 2.07% of the country's import

turnover, growing by 12.83% compared to 2012.

45.1%

54.9%

EXPORT - IMPORT PROPORTION IN 2013

Imports

Exports

III.1.3. Capital Trading

In 2013, with the State Bank's determination in restructuring the whole industry, the banks were

more cautious in credit activity apart from bad debt resolution, and credits of the whole year rose by

12.51% compared to the increase of 15.61% in fund mobilization. This was the main reason for liquidity

surplus which was reflected via the dramatic reduction of the interest rates traded in the interbank

market compared to 2012. Eximbank, with its prudent operating policy in accordance with the State

Bank's orientations, continued to act as a main player in the market in 2013. Eximbank's capital trading

activity still achieved high efficiency due to keeping abreast of and well exploiting the opportunities of

the market.

With the award “Best Bank in Vietnam 2013” voted by Euromoney magazine, the Bank's

reputation has been further enhanced both in the domestic and foreign markets. Beside existing

international relations, Eximbank has continuously reinforced and extended its partnership, especially in

large projects of fund mobilization for the objective of not only satisfying business demands but

motivating for future growth as well.


Transaction figures in 2013

III.1.4. Foreign Currency Trading

The stability of the foreign exchange market during the year 2013 brought favourable conditions

to export and import activity of the enterprises which is Eximbank's traditional strength. So as to enhance

foreign exchange service quality, Eximbank has continuously diversified products and services serving

for export and import customers to increase utilities for them and simultaneously raise competitiveness

and transaction volume.

Concerning system administration with respect to foreign currency trading, Eximbank has

established and improved the internal trading system in way of modernity, transaction time reduction,

and cost mitigation. Eximbank has also strengthened its governance on foreign currency trading in line

with international standards and Vietnamese market conditions, kept on fostering and heightening

professional competence for trading officers of the whole network.

Accordingly, foreign currency trading activity of Eximbank in 2013 still maintained growth pace

and achieved positive results. Foreign currency trading volume of 2013 reached 41.093 billion USD,

increasing by 44% compared to 2012.

III.1.5. Gold Trading

In 2013, the gold market experienced unpredictable fluctuations with sharp reduction of both

international gold price and domestic gold price. Besides, the State Bank continued tightening its

management over gold trading activity. Since March 2013, the State Bank for the first time organized the

auction to sell gold bars to the market, marking a big change in its managing and regulating the gold

trading activity. With 76 auctions in 2013, the State Bank had supplied to the market nearly 70 tons of gold

bars for price stabilization.

The revision and change in the State Bank's policy affected gold trading result of Eximbank as one

of the 6 members participating the gold price stabilization program of the State Bank since early 2012.

In 2013, Eximbank kept on expanding retail market to every customer, which is treated as the

Target 2012 2013 (+)/(-) against 2012

Volumes

VND (billion VND)

USD (million USD)

Receiving/Borrowing

Depositing/Lending

202,549

367,988

6,733

5,618

287,054

270,120

9,511

4,944

+41.72%

-26.59%

+42.26%

-12.00%

Receiving/Borrowing

Depositing/Lending


main business strategy in gold trading activity. Eximbank has organized a force of specialized gold

trading officers to strengthen the marketing and customer care. In addition, with the advantage of being

licensed by the State Bank to sell and purchase gold bars at more than 200 banking units nationwide, in

2013, Eximbank continued to be among the leading banks in terms of gold bar trading activity in

Vietnam.

Gold purchase and sale volume in 2013 of Eximbank was 4.5 million taels, down 50% compared to

2012.

III.1.6. Financial Investment

In 2013, Vietnam's economy was still exposed to difficulties, deposit and lending rates were in

declining tendency; real estate market remained frozen; stock market just made slight recovery and

swayed in a narrow range with market liquidity being still low.

Facing such obstacles, Eximbank had restructured its investment portfolio to ensure safety and

effectiveness, tightly control the capital, and comply with the law stipulations. As for capital contribution

for share purchase, Eximbank did not make new disbursements, just focusing on divesting from the non-

potential enterprises. For bond investment, Eximbank concentrated on investing in bonds of those with

stable business operation, high rate of return and security assets. In 2013, Eximbank made considerable

disbursement to such bonds, thus making not a small contribution to the Bank's total income.

As at end of 2013, the value of capital contribution and securities investment was 16,791 billion

VND (increasing by 18% compared to the early year). Of which, investments in bonds and valuable papers

were 14,653 billion VND (surging by 25% compared to the early year), accounting for 87.3% and

investments in stocks (including investments and capital contribution for share purchase, associates)

were 2,138 billion VND, accounting for 12.7%.

III.1.7. Customer Base Development

Eximbank's customer base has kept its fair growth pace thanks to incessant efforts in setting up

professional sales force, improving servicing quality, and innovating products and services. Total number

of customers of Eximbank as at end of 2013 nearly reached 796 thousand customers, growing by 16.3%

compared to 2012. Of which:

Retail customers accounted for 96%, increasing by 16.5% from the early year (or 108 thousand

customers).

Corporate customers made up 4%, rising by 13.3% from the early year (or 4 thousand customers).


III.2. Financial conditions

III.2.1. Assets

In 2013, Eximbank had entirely reduced its gold mobilized funds as per the State Bank's

regulation and focused on developing mobilized funds from economic entities and residents, making

Eximbank's scope of total assets remain at a nearly equivalent level compared to 2012. In terms of fund

use, Eximbank attached special importance to heightening efficiency of fund use channels, concentrated

on pushing credit balance increase through maintaining and promoting traditional strength as corporate

lending, approaching big projects, gradually growing retail loan balance on the basis of building

professional sales force, strengthening marketing, expanding customer base, improving operational

handling procedures, enhancing competitiveness of existing credit products in combination with

researching new credit products to satisfy customers' diversified demands for funds. Besides, Eximbank

continued revising and perfecting fund transfer pricing (FTP) mechanism in line with actual business

situation, contributing to effectively manage sources of funds of the whole network and boost credit

growth.

In terms of income structure, earnings from credit activities were still the major source of income

of the Bank. In the previous year, responding to the State Bank's policy, Eximbank had lowered lending

interest rates to share with borrowing customers part of their obstacles, causing net interest income of

the Bank to shrink, which affected Eximbank's profit.

The average return-on-asset ratio (ROA) was 0.4%

The average return-on-equity ratio (ROE) was 4.3%

III.2.2. Credit Quality

Performing the orientation of the State Bank in bad debt handling, credit quality management,

Eximbank has applied necessary measures to recover and dispose of bad debts. As of end of 2013,

Eximbank controlled its NPL ratio at low level (1.98% of total loan balance).

III.3. Improvements in organization structure, policy and management

III.3.1. Network Development

In 2013, Eximbank put into operations 2 more Transaction Offices (Hoi An Transaction Office and

Bien Hoa Transaction Office), and terminated operation of 2 Transaction Points at Phu Hung Securities

Corporation – Can Tho City Branch and KimEng Securities Joint Stock Company – Can Tho City Branch. As

of 31/12/2013, Eximbank's operation network comprised of 206 banking units (including Main

Transaction Office, 41 Branches, 162 Transaction Offices, 01 Savings Fund and 01 Transaction Point).


Tình hình phát triển mạng lưới Eximbank giai đoạn 2009 - 2013:

III.3.2. Risk Management

In 2013, Eximbank continued setting up and perfecting its risk management model at all

management levels of from the Board of Directors, Board of Supervisors to the Management and

Divisions in line with the scope and orientations of the business activities.

At the Management level, the Bank kept on building and consolidating the operations of the risk

management units according to the model advised by SMBC, comprising of the following departments:

Credit Risk Management, Market Risk Management, and Operational Risk Management.

The implementation of risk management measures at the Bank is performed as follows:

III.3.2.1 Credit risk management

(I) Eximbank's internal credit policy is controlled under the following principles:

- To comply with provisions of Law on Credit Institutions, other relevant law stipulations and

internal regulations of Eximbank;

- To disperse risks, and diversify the investment portfolio in credit activities;

- To conduct checking and cross-checking in Eximbank's credit activities;

- To be public, transparent, and consistent in all credit granting regulations;

- The inspection and control is performed in all stages of the credit approval process and

maintained on a regular and continuous basis;

- To define responsibilities between credit appraisal and approval.

(ii) The risk measurement and assessment is executed via:

- Controlling the credit portfolio based on the analysis of credit risks by economic sectors and

regions; and defining credit limits by economic sectors and customer groups. Conduct internal credit

NetworkPoint of time

2009 2010 2011 2012 2013

Main Transaction Office /Branches 38 40 41 42 42

Transaction Offices/Savings Fund/Transaction Point

102 143 161 164 164

Total 140 183 202 206 206


scoring in order to frequently monitor and assess customers' creditworthiness.

- Setting up the list of security assets, providing for the loan-to-value ratio to serve as the basis for

determining the expected losses upon risk occurrence;

- Performing internal credit scoring and rating of customers periodically, and assessing their

financial capabilities, business conditions and loan recovery ability regularly;

- Conducting loan classification as per regulations of the State Bank and international standards

to fully evaluate the Bank's credit quality.

(iii) In the tough economic conditions that implied lots of credit risks in 2013, Eximbank

continued centralizing credits to the Head Office to ensure close control in credit granting. The

centralization of credit activities to the Head Office is executed through:

- Centralizing appraisal and approval at the Head Office with respect to loans with high risk levels,

loans without security assets and loans to the sectors or industries being restricted for credit extension by

Eximbank;

- Most of the security asset appraisal being centralized at the Head Office;

- Internal inspection and control officers of the Head Office being assigned to perform the tasks at

each Branch so as to monitor each credit file before disbursement.

III.3.2.2 Operational risk management

(I) Ensure inspection and cross-checking in the operations;

(ii) Inspection and monitoring being conducted before, during, and after execution of important

operations such as credit, payment, cash by the Head Office's Internal Inspection and Control

Department;

(iii) Establish and manage the approval limits on transaction systems in line with new business

operation model and risk restriction;

(iv) Establish and operate “Operational Diary” to record and warn on operational errors in the

whole network of the Bank;

(v) Launch the system of money laundering prevention and combat to monitor and prevent fraud

and suspicious transactions;

(vi) Coordinate with relevant units to set up provisions on business continuity such as responses

regarding liquidity, response to IT incidents and processing of information crisis.


III.3.2.3 Market risk management

- Interest rate risk management: Eximbank regulates interest rates in an active and flexible

direction with respect to each type of products and services from time to time; keeps close track of

interest rate movements in the market, forecasts on moving tendency of interest rates; analyzes interest

rate spread and simulates possibilities that interest rates may impact profit; computes fluctuations of the

Bank's net asset value according to interest rate movements by NPV model; monitors and reports net

interest margin in order to ensure expected profit target.

- Exchange rate risk management: Eximbank manages exchange rate risks through: analyzing

and monitoring exchange rate movements in the market daily; monitoring developments of the local

and international economic situation, monetary policy of the State Bank likely affecting the exchange

rate so as to give out forecasts on exchange rate; controlling gold and foreign currency position as

regulated; regularly evaluating and analyzing gold and foreign currency position in the whole network in

order to ensure exchange rate changes will not impact much on Eximbank's profit;

In addition, Eximbank also uses hedging measures against exchange rate risks through derivative

operations, including: option transactions, forward contracts, currency swap contracts to hedge for

foreign exchange transactions.

- Liquidity risk management: Eximbank tightly controls the compliance with the State Bank's

regulations on liquidity; makes analysis and reports on liquidity risks via asset-liability analysis table

according to actual maturity period, and prudent ratios. Eximbank has also perfected its regulations on

solvency management and on prudent ratios in the Bank's operations.

III.3.3. Information Technology System

With the objective of building a modern and versatile bank on ground of state-of-art technology,

the Information Technology (IT) system of Eximbank in 2013 continued to be perfected and developed

with the following accomplishments:

(1) Eximbank kept on accelerating the implementation of key projects in the IT Development

Program so as to satisfy the requirements of the business development strategy in the period of 2011 –

2015 and visions up to 2020, specifically:

- Eximbank focused on speeding up the progress of organizing the bidding for the Korebank

replacement project to ensure project completion in 2016;

- Eximbank entered into the Memorandum of Understanding (MoU) with Schneider Electric IT


Vietnam to implement the construction of a modern Data Center meeting international standards and

the State Bank's requirements.

(2) With the business strategy focusing on retail sales promotion, Eximbank established the

Electronic Banking Department to boost diversified development of products and services on online

transaction channels, gradually making these services be advantage of Eximbank;

(3) Applying advanced banking technology and always placing the goals of security and safety

for customers at top priority, Eximbank has officially launched to customers the “Banking transaction

authentication by fingerprint” technology which helps ensure safety and confidence for customers upon

transacting with the bank;

(4) Eximbank continued reviewing and setting up security policy with respect to transaction

systems such as keeping on implementing phase 2 of the PCI DSS compliance project; putting into

operation the centralized Internet access control system which helps prevent and limit information safety

risks when users access Internet, equipping with the attack prevention and combat system; and

perfecting the network and security system at the Disaster Recovery Center.

The achievements of IT system in 2013 serve as the premise to move forward with the IT

development strategy up to 2015 and contribute to the business operations in accordance with the

Bank's general strategy.

III.3.4. Training and Human Resources Development

In 2013, following the Board of Directors' and the Board of Management's guideline on business

model revision and sales-driven development, training activity of Eximbank also evolved in way of

training on sales knowledge, skills and experience for Eximbank's staff. During the year, the Training

Center of Eximbank organized 104 training courses with 6,496 learners, exceeding the proposed plan by

30%. Of which, 40 classes were held to train for sales officers with 3,081 learners, accounting for nearly

39%.

In addition, training courses for Branch Directors and Transaction Office Managers also received

high appreciation as they have helped to enhance knowledge, skills and experience in management and

business for learners.

For the training orientations in the forthcoming time, Eximbank will continue to focus on training

the sales officers, organizing training classes for stand-by Branch Directors and Transaction Office

Managers to prepare for the succeeding human resources, training and updating new knowledge,


regulations and policies for operational employees.

III.3.5. Cooperation with Foreign Strategic Shareholder

thIn the year 2013 which marked the 40 anniversary of the establishment of diplomatic relations

with Japan, Vietnam received new wave of investment from Japanese investors in the fields of from

precision engineering, supporting industries to breeding and agricultural production. Eximbank has

cooperated with its strategic shareholder, Sumitomo Mitsui Banking Corporation (SMBC), to deploy

Business Matching service, thereby referring and supporting customers to search for partners and new

markets for their products and services. With an extensive network and large database of the two banks,

the Business Matching service brings about many benefits, solves output for enterprises, increases

customer base, and creates premises for the parties' sustainable development.

Apart from the Corporate Banking services, SMBC continued supporting Eximbank to boost retail

banking activities by building professional cadre of consultants and sales officers, and cross-selling

packaged products and services to enterprises' employees. Through the relationship with Japanese

automobile manufacturers, Cedyna Financial Corporation and Sumitomo Mitsui Card Company –SMCC,

which are subsidiaries of Sumitomo Mitsui Financial Group – SMFG, have coordinated with Eximbank to

strengthen card sales business, auto loans, electronic banking services, Mobile Banking, as well as

increase the merchants together with special offers exclusively for Eximbank's customers.

In order to increase customer satisfaction and improve operational quality, Eximbank has set up

the Quality Management Department with a mission to establish the policies, regulations and

guidedance on quality, and coordinate with the Training Center to consistently implement the same

throughout the network. Moreover, the Asia Pacific Training Center of SMBC has also helped organize

seminars and training courses to share management experiences and enhance professional financial

knowledge for Eximbank's officers.

In 2013, SMBC kept on supporting Eximbank to approach international funding sources at

reasonable costs and strengthen liquidity for Eximbank via money market, trade finance and guarantee

limits. Besides, SMBC together with international consulting firms are now assisting Eximbank to consider

selecting advanced engineering technologies to effectively support business activities, governance task,

and increase friendliness and utilities for customers.

III.3.6. International Relations

In 2013, Eximbank's international relation activities were carried out in way of proactively


reviewing and reinforcing the cooperation with long-term partners, while continuously searching for,

proposing and conducting cooperation with new partners in various markets, especially emerging ones.

As at end of 2013, Eximbank had relations with 874 Swift codes of banks/banks' branches in 84 countries

worldwide. With such a large correspondent bank network and thanks to the proper and reasonable

policy as above-mentioned, in 2013, Eximbank received significant assistance in different aspects from its

partners through the extension of credit limits, support in operations, training, etc., contributing to

enhance its financial capabilities and ability of products and services supply to meet rising and diversified

needs of customers.

In addition, brand name promotion in the international market is also attached with special

importance to help Eximbank's brand name become more popular by positively searching and applying

for awards of prestigious international magazines and organizations. Thanks to which, in 2013, Eximbank

honorably received encouraging recognition from international financial community, specifically: in

April 2013, at the Asian Banker Summit, the largest annual conference with specialists in the financial

service industry in Asia Pacific, Mr. Truong Van Phuoc - former CEO of Eximbank at that time was awarded

the 2013's Leadership Achievement Award in Vietnam, and Eximbank was also awarded Best Managed

Bank in Vietnam 2013 by the Asian Banker; in July 2013, Eximbank was bestowed the Best Bank in Vietnam

award by Euromoney, a leading magazine of Euromoney Institutional Investor PLC which is based in

London.

III.4. Business Plan in 2014

The world's economy in 2014 continues to progress complicatedly and unpredictably; it has

shown signs of recovery but many risks still imply. Domestically, the economy has had positive changes

but business and production situation still faces with many difficulties. In 2014, the Government casts the

objectives of regulating the economy in the direction of maintaining macro-economic stability,

controlling inflation, growing reasonably and improving quality, effectiveness and competitiveness of

the economy on the basis of promoting the implementation of three strategic breakthroughs in

association with growth model conversion and economic restructuring. Accordingly, a number of key

indicators are as follows: Gross Domestic Product (GDP) to increase by 5.8%, export turnover to surge by

10%, trade deficit to be about 6% of export turnover, Consumer Price Index (CPI) growth rate to be about

7%, and total investment for social development to be about 30 % of GDP.

The State Bank defines the objectives and solutions of regulating its monetary policy in 2014 in

the direction of insisting on active and flexible monetary policy, closely linking with fiscal policies to


control inflation in accordance with the targets set forth, stabilizing macro-economy, supporting

reasonable economic growth, and ensure the liquidity of credit institutions and the economy. Total

payment instruments are oriented to increase by 16-18%, and credits by 12-14%, and subject to revision

to suit with actual situations. Monetary and banking activity solutions shall be organized and executed to

facilitate the access of funds by enterprises, cooperatives and households, contributing to lift the

difficulties and promote business and production.

Based on Eximbank's business performance in 2013, forecasts of the impacts of business

environment on banking activities in 2014, business development orientations in 2014 and Eximbank's

business strategy up to 2015, the business plan of Eximbank in 2014 is as follows:

* Plan of Liabilities and use of liabilities

Targets 2014's plan % of increase compared to 2013

Fund mobilization

Credit granting balance

100,000

97,300

21%

10%

* Service development plan (volumes of international settlement, inward overseas remittance,

foreign currency trading, number of cards, card payment and use volumes): to increase by 12% - 62%

compared to 2013.

* Profit plan

- Profit before tax: 1,800 billion VND

- Estimated dividend ratio: 8.5%

Unit: billion VND


IV.THE BOARD OF DIRECTORS' EVALUATION OF THE PERFORMANCE OF THE BANK

IV.1. The Board of Director' evaluation of operational aspects of the Bank

In 2013, the State Bank had made efforts to synchronously implement solutions of regulating

monetary policies and banking activities in strict compliance with the Government's guidelines. Average

lending rates decreased; the whole system's credits grew by 12.51%; credit structure focused on

production and trading, especially the priority areas; and deposit growth achieved more than 15.6%.

Deposit rates decreased by about 2-4%, lending rates fell by about 3-5% compared to the end of 2012 and

returned to the interest rate level in the 2005-2006 period. The State Bank continued its tightened

management over the gold market through directing credit institutions to finalize the entire balance of

mobilized gold and gradually reduce their gold loan balance; the foreign exchange market was basically

stable, the status of dollarization decreased, etc. The above results had contributed to lift the difficulties

for the production and trading, control inflation and support economic growth. However, the banking

and monetary situation still dealt with unfavorable progresses. Credit had not gone up high by reason of

weak aggregate demand and purchasing power of the economy leading to the slump of enterprises' fund

absorption capacity, tough production and trading activity, persistently quiet real estate market,

increasing number of businesses suspending operation, and high NPL ratio. The proactive reduction of

lending rates by credit institutions more quickly and strongly than the average deposit rates had

narrowed down the net interest margin.

Eximbank had seriously implemented the directions of the State Bank, actively shared difficulties

with borrowing customers by reducing lending rates, offering various credit packages with preferential

interest rates, facilitating businesses to effectively access low-cost sources of funds, focusing credit

financing to the priority sectors, etc. Besides, Eximbank continued improving governance and

management capacity, strengthening organization model, cutting down operating costs, tightly

controlling credit quality, drastically implementing bad debt resolution measures, perfecting

mechanisms, policies, procedures and regulations on operational areas to maintain stable business

activities, and ensure liquidity and operational safety.

Total assets reached 169,835 billion VND, completing 85% of the plan.

Total mobilized funds from economic entities and individuals reached 82,650 billion VND,

completing 75% of the plan.

Total credit granting balance reached 88,453 billion VND, increasing by 13.7% from the early year

and completing 99% of the plan.


Of which: loan balance to economic entities and individuals reached 83,354 billion VND, up 11.3%

from the early year and completing 97% of the plan.

Profit before tax reached 828 billion VND and completing 26% of the plan.

ROE was 4.3%

ROA was 0.4%

Estimated dividends were 4%

IV.2. The Board of Directors' evaluation of the performance of the Board of Management

Operating results in 2013 reflected acknowledgeable effort of the Management in implementing

the strategic directions of the Board of Directors. Eximbank had fulfilled some basic targets, of which the

most important ones were to maintain stable customer base and relatively good business performance,

thus helping to create background for 2014 and the subsequent years.

During the year, the Management had taken strong progress in restructuring the organization

model from the Head Office to branches, refining operating apparatus, focusing resources on the sales

force in order to enhance business quality and effectiveness; building new centralized management

models such as Valuation Center, Card Sales Center, Retail Banking Center, and Gold Trading Center;

strengthening and increasing customer base on the basis of deeply exploiting retail activities, searching

for more big customers; boosting debt resolution, curbing the NPL ratio at below 2%; pushing effective

credit balance growth through approaching large projects, maintaining and promoting the traditional

strength as corporate finance, step-by-step developing retail loan balance through establishing

professional sales cadre; upgrading operating quality of transaction offices to enhance competitiveness

and expand market share; reasonably reducing costs, etc. to gradually remove barriers and surmount

weaknesses to take increasingly firm steps.

IV.3. Plans and orientations of the Board of Directors

The Board of Directors has agreed with the Board of Management on the business plan for 2014

with some major business targets as follows: fund mobilization reaches 100,000 billion VND, up 21% from

2013; credit granting balance reaches 97,300 billion VND, up 10% from 2013; NPL ratio does not exceed

3%; profit before tax reaches 1,800 billion VND, up 117% from 2013.

To achieve the above targets, Eximbank identifies 2014 is the year for focusing on “customer

servicing quality enhancement” through improving service quality, servicing attitude and customer care

policy. Eximbank will implement some measures as follows:


- Develop customer policies through customer service decentralization; consolidate and increase

customer base on the basis of maintaining the existing customer base and increasingly seeking for new

large customers, especially Japanese ones.

- Build up breakthrough solutions in retail sales to further promote retail activities; and improve

the performance of RBO and RM sales forces through training and directly handling customers' requests

reflected through such RBOs and RMs to boost sales volumes.

- Gradually improve the quality and diversify products and services, especially such modern

banking products and services as Internet Banking and Mobile Banking to increase more utilities in online

transactions, expand market share and customer base.

- Restructure the organization model from Head Office to branches to develop plans of refining

the operating apparatus, mitigating costs, improving productivity, and rotating personnel to

supplement to the sales cadre; continue perfecting new centralized management models such as

Valuation Center, Card Sales Center, Retail Banking Center, and Gold Trading Center; and complete the

model of directly managing Grade-1 Transaction Offices, making them become the peak and main attack

in retail banking markets.

- Accelerate the upgrading of the information technology system by implementing focused

projects to ensure the throughout operation of the system, creating the foundation to develop high-tech

products and services to create differentiations in competition with other banks.

- Continue promoting credit growth in an efficient and secure manner upon ensuring credit

quality; and persist to set up long-term and strategic relations with general companies and large

corporations to invest in big and safe projects with good and stable sources of income in the medium and

long term apart from focusing on developing retail banking operations. In parallel to which, Eximbank

continues carrying out treatment measures for outstanding overdue debts and bad debts arising due to

common economic difficulties in 2014.


V. CORPORATE GOVERNANCE

Mr. Le Hung DungChairman

V.1. The Board of Directors

V.1.1. Members and structure of the Board of Directors

The Board of Directors consists of 7 members: 1 Chairman, 3 Vice Chairmen, and 3 members.

Mr. Le Hung Dung was born in 1954 in Tan My, Cho Moi, An Giang. He used to study at Hanoi

Foreign Language University, Prague Foreign Language University (Czech), and graduated with

Advanced Level in Politics from Ho Chi Minh City Officer School (Southern National Academy of Politics

and Public Administration), with intermediate level in Political theory and youth mobilization from Hanoi

Central Union School.

From 1986 to 2003, he used to take the positions of Deputy Director of Festival Restaurant

(Vietnam Youth Tourism Centre), Director of Vietnam Youth Tourism Centre, Chairman of Vietnam Youth

Tourism Single Member Limited Liability Company. Since August 2003 up to now, he is Secretary of Party

cell and Chairman of the Board of Members of Saigon Jewelry Holding Company (SJC). He was appointed

Chairman of the Board of Directors of Eximbank in April 2010 and has held this position until now.


Mr. Naoki Nishizawa was born in 1957 with Japanese nationality, and is a Master of Business

Administration at Harvard University and a Bachelor of Law at Kyoto University. He is the representative of

the strategic partner, Sumitomo Mitsui Banking Corporation (SMBC), in Eximbank.

He used to be Deputy General Manager of Tokyo Corporate Banking Department of SMBC Tokyo,

Japan; Senior Vice President and then Executive Vice President of Japan-Asia Banking Division; Executive

Vice President of Planning Office of Manufacturers Bank, Los Angeles, USA; Executive Vice President of

SMBC, Tokyo, Japan. He is currently Vice Chairman of the Board of Directors of Eximbank.

Mr. Ha Thanh HungVice Chairman

Mr. Ha Thanh Hung was born in 1955 in Tien Giang and has Bachelor degrees in Economics and

Electronics Engineering. He used to be Director of Investment Planning Department of The Voice of Ho

Chi Minh City People, Director of Business Planning Department of Imex Co., Deputy General Manager in

charge of Sales of Tenimex Joint Stock Company, Chairman and General Manager of TIE Joint Stock

Company, Vice Chairman of Samsung Vina Electronics Co., Ltd, member of the Board of Directors of

Eximbank, and Deputy Director of Ho Chi Minh City Department of Industry.

He is now Vice Chairman of the Board of Directors of Eximbank, cum Chairman of the Board of

Directors of Song Viet Joint Stock Company.

Mr. Naoki NishizawaVice Chairman


Mr. Nguyen Quang ThongVice Chairman

Mr. Nguyen Quang Thong was born in 1963 in Kien Giang. He is a Bachelor of Economics. He used

to be a member of the Board of Supervisors of Eximbank and a member of the Board of Directors of

Eximbank.

He is currently Vice Chairman of the Board of Directors of Eximbank; simultaneously, Vice

Chairman of the Board of Directors of Bao Long Insurance Company, of Exim Real Estate Joint Stock

Company (Eximland) (associated company of Eximbank), of Vinatex ITC and of Viet Long Securities

Investment Fund Management Corporation.

Mr. Hoang Tuan KhaiBoard member

Mr. Hoang Tuan Khai was born in 1962 in Hanoi. He graduated from Foreign Trade University with

major in Foreign Trade Economics and studied Economics management in Holland. He used to be Deputy

Director and then Director of Vietnam National General Export – Import Joint Stock Company No.1.

He is now Board member of Eximbank, and Chairman cum General Manager of Vietnam National

General Export – Import Joint Stock Company No.1, Chairman of the Board of Directors of De Nhat

Development Company, and Board member of Mai Linh – Quang Ngai Minerals Joint Stock Company. He

is a representative of capital of Eximbank and Board member of Vinaconex Investment and Tourism

Development Joint Stock Company.


Mr. Dang Anh MaiBoard member

Mr. Dang Anh Mai was born in 1966 and graduated with Master's degree from Duke University-

U.S. He used to hold such positions as Senior Officer, Deputy Department Manager and then Department

Manager of International Cooperation Department of the State Bank of Vietnam, Expert of World Bank in

the U.S, Department Manager of International Cooperation Department of the State Bank of Vietnam,

Deputy Director of International Cooperation Department of the State Bank of Vietnam. He is currently a

member of the Board of Directors of Eximbank.

Mr. Lawrence Justin WolfeIndependent Board member

Mr. Lawrence Justin Wolfe was born in 1946 with U.S. nationality. He has more than 40 years'

experience in banking and finance and used to hold such important positions as Branch Manager of

Military Banking Facilities, Chase Manhattan Bank, Thailand; Private Banking International Manager of

Chase Mahattan Bank, New York; Credit and Marketing Manager of Chase Manhattan Bank-Osaka Branch;

Deputy General Manager of Deutsche Bank-Taipei Branch; Deputy General Manager of Deutsche Bank-

Singapore Branch; Chief Country Officer of Deutsche Bank-Jakarta Branch, Indonesia; Chief Country

Officer of Deutsche Bank-Ho Chi Minh City Branch; Business Development Director of Dong A Securities

Company; and Head of Transaction Banking Division of Techcombank. He is currently an independent

member of the Board of Directors of Eximbank.


V.1.2. Changes in members of the Board of Directors

1. 2013's Annual General Meeting of Shareholders relieved the title of member of the Board of

Directors of Eximbank of Mr. Pham Trung Cang - Vice Chairman of Eximbank's Board of Directors and Mr.

Philip Simon Rupert Skevington - Independent Board Member; additionally elected 02 new Board

members – Mr. Dang Anh Mai and Mr. Lawrence Justin Wolfe.

2. On September 05, 2013, Eximbank made information disclosure on Mr. Truong Van Phuoc's

ceasing to be Vice Chairman of the Board of Directors cum Chief Executive Officer of Eximbank.

Pursuant to Decision No. 1529/QD-TTg dated August 30, 2013 of the Prime Minister, Mr. Truong Van Phuoc

- Vice Chairman of the Board of Directors cum Chief Executive Officer of Eximbank was appointed to be

Vice Chairman of the National Financial Supervisory Commission.

With reference to the regulations at Point b Clause 1 Article 33 and Clause 1 Article 35 of the Law on Credit

Institutions; Clause 1 Article 47, Clause 1 Article 53 and Point a Clause 2 Article 63 of Eximbank's Articles of

Association, Mr. Truong Van Phuoc ceased to be member of the Board of Directors of Eximbank of the fifth

term of office (2010-2015) cum Chief Executive Officer of Eximbank.

3. On December 03, 2013, Eximbank received Document No. 2980/NNNT-DT of Joint stock

Commercial Bank for Foreign Trade of Vietnam (VCB) regarding the assignment of Mrs. Nguyen Bich Thuy

– Deputy Director of VCB Investment Department to be the authorized representative to exercise VCB's

shareholder rights at Eximbank in replacement for Mr. Nguyen Ngoc Ban. Mr. Nguyen Ngoc Ban's title of

Board member of Eximbank was ex officio discharged according to Point d Clause 1 Article 35 of the Law

on Credit Institutions 2010. On December 04, 2013, Eximbank made information disclosure on Mr.

Nguyen Ngoc Ban's ceasing to be member of the Board of Directors of Eximbank.


V.1.3. Shareholding ratio of members of the Board of Directors

No. Name PositionPersonal

shareholding ratio (%)

Representing for entity

shareholder

Entity's shareholding

ratio (%)

1 Mr. Le Hung Dung Chairman 0Saigon Jewelry Holding Company (SJC)

2.0736227

2 Mr. Ha Thanh Hung Vice Chairman

0.1895237 - 0

3 Mr. Naoki Nishizawa Vice Chairman

0Sumitomo Mitsui Banking Corporation

15.0000624

4 Mr. Nguyen Quang Thong

0.0123603 - 0

5 Mr. Hoang Tuan Khai Board member

0.0054545Vietnam National General Export – Import Joint Stock Company No.1

1.0416642

6 Mr. Dang Anh Mai 0 - 0

7 Mr.Lawrence Justin Wolfe

Independent Board member

0 - 0

Vice Chairman

Board member


No. Resolution No. Date Contents

V.1.4. Operations of the Board of Directors

In 2013, the Board of Directors organized various meeting sessions and collected written

opinions of members of the Board of Directors to discuss and decide the issues concerning Eximbank's

business operations. Details are as follows:

1 th30 meeting session of V term

17 Jan 2013 Concur the following contents:-Business performance in 2012; and salary unit price in 2013;-Governance and administration such as branch management model by regions; appointment of regional directors in –charge; branch categorization and assignment of credit approval authority;-Cooperation agreement with Sacombank;-Pre-feasibility report on Eximbank Tower;Report on contents approved by the Standing Board of Directors between two meeting sessions of the Board of Directors.

2 25 Feb 2013 Agree on finalizing Shareholders list to send written documents for collecting opinions on nomination, self-nomination of 01 member to be additionally elected to the Board of Directors and to organize 2013's Annual General Meeting of Shareholders.

3 21 Mar 2013 Concur the following contents:-Revising the finalization of Shareholders list for collecting opinions on nomination, self-nomination of 02 members to the Board of Directors, of which there is 01 independent Board member, instead of electing only 01 independent Board member as per the Resolution dated 25 February 2013.- Revising the time of mailing, receiving and consolidating shareholders' opinions.

4 Collecting written opinions of the Board of Directors

01 Apr 2013 Agree to re-appoint Mr. Truong Van Phuoc as the Chief Executive Officer of Eximbank.


st31 meeting session of V term

nd32 meeting session of V term


5 08 Apr 2013 Concur the following contents:-Business performance in Q1/2013-Application for resignation from the title of independent Board member of Mr. Philip Simon Rupert Skevington (Mr. Philip proposed for effective date of the resignation application to be 31 March 2013)-Draft contents for submission to 2013's Annual General Meeting of Shareholders and posting to the website as regulated.-List of tentative candidates for supplemental election to the Board of Directors of Eximbank for V term of office (2010-2015) to be submitted to the State Bank of Vietnam.

6 25 Apr 2013 Concur the following contents:-Business performance as of 24 April 2013.-Contents of documents to be submitted to 2013's Annual General Meeting of Shareholders.-Supplementing to the agenda of 2013's Annual General Meeting of Shareholders the Proposal for opinion collection on the guideline with respect to study on merger with other credit institution.-Credit granting to Vietnam Airlines Corporation.-Contents of authorization by the Board of Directors to the Standing Board of Directors.-Assigning Mr. Ha Thanh Hung - Standing Member of the Board of Directors as Vice Chairman of the Board of Directors-Report to the Board of Directors on the contents approved by the Standing Board of Directors between its two meeting sessions


31 May 2013 ndFinalize shareholder list for 2 dividend payout in 2012 and collect shareholders' written opinions regarding supplementing the content of execution of asset management and preservation service (including gold custody) to the Operation License of Eximbank.


rd33 meeting session of V term

th34 meeting session of V term



19 Jul 2013 Agree to supplement Mr. Lawrence Justin Wolfe - Independent Board Member to the Risk Management Committee and the Development Strategy Committee under the Board of Directors.

9 06 Aug 2013 -Agree on the estimated business results as of end of 31 July 2013.-Agree with the policy of assigning the Management to execute the appraisal and evaluation standards to ensure credit quality and risk management roles and measures.-Agree to apply appropriate salary and expenses policy in line with the system's business performance.-Agree to establish Retail Banking Center which is a specialized and professional unit in boosting retail banking activities, apart from maintaining the traditional strength as corporate finance.-Agree to appoint Mr. Le Anh Tu and Mrs. Bui Do Bich Van as Vice Presidents.

10 12 Aug 2013 -Agree to discharge the title of Vice President of Mr. Nguyen Duc Thanh and appoint him to hold the title of Standing Vice Chairman of the Board of Members of Eximbank Debt Management and Asset Exploitation One-member Limited Liability Company (Eximbank AMC). - Agree to appoint Mr. Pham Ngoc De as General Director of Eximbank AMC.


30 Aug 2013 Agree on the policy of issuing long-term Valuable papers in VND in 2013.

Collecting written opinions of the Board of Directors




12 05 Sep 2013 - Agree to appoint Mr. Nguyen Quoc Huong-Vice President of Eximbank to manage Eximbank's operations with the title of Acting Chief Executive Officer of Eximbank.- Ratify the tentative list of personnel for appointment of the title of Eximbank's Chief Executive Officer to submit to the State Bank.

14 17 Sep 2013 Concur the following contents:1. Assign tasks for Mr. To Nghi as follows:+ Discharge Mr. To Nghi from the title of Vice President;+ Appoint Mr. To Nghi as Vice Chairman of the Central Investment Council under the Board of Directors.2. Assign tasks for Mr. Le Hai Lam as follows:+ Discharge from the title of Director of Eximbank Tan Son Nhat Branch;+ Appoint Mr. Le Hai Lam as Vice President of Eximbank.3. Establish External Relations Committee under the Board of Directors of Eximbank.4. Supplement functions and duties of the Central Credit Council and Personnel Committee.5. Appoint Mr. Ho Thanh Man as Chairman of the Board of Members of Eximbank Debt Management and Asset Exploitation One-member Limited Liability Company.

Agree to make assignments towards Mr. Nguyen Ho Hoang Vu as follows:+ Discharge from the title of Chief Accountant of Eximbank;+ Appoint Mr. Nguyen Ho Hoang Vu as Vice President cum Chief Financial Officer of Eximbank.- Agree to appoint Mr. Nguyen Ngoc Ha as Chief Accountant cum Director of General Accounting Department under Operational Supervision Division.





05 Sep 2013


15 25 Sep 2013 Agree to appoint Mr. Nguyen Quang Triet as Vice President of Eximbank.

The Board of Directors agreed on the following issues:- Report on the business performance in the first 9 months of the year and encourage the network to strive to accomplish the planned business targets as assigned by the General Meeting of Shareholders.- Eximbank AMC should improve its role to better support Eximbank in asset exploitation, debt setoff and have weekly report to the Standing Board of Directors.- Mitigation of cost of funds, management and operating costs in an effective manner provided that it does not affect business operations; personnel refining by increasing direct sales force and reducing to the maximum indirect personnel.- Further promoting ALCO's operation to participate in enhancing efficiency of using assets and liabilities of the bank.- Establishment of the regulations of communications with newswires and community for the shareholders, partners and customers to have clear and accurate knowledge of Eximbank's business activities, and regulations of internal communications for employees to keep abreast of the bank's business situation.- Supplementing Mr. Naoki Nishizawa - Vice Chairman of the Board of Directors to the Standing Board of Directors- Contents approved by the Standing Board of Directors between two meeting sessions of the Board of Directors.

16 04 Oct 2013

17 05 Nov 2013 1. Agree to redeem Vietnam Export Import Commercial Joint Stock Bank's shares for treasury stock with the tentative quantity of 61,776,145 shares, equivalent to 5% of the total number of common shares.






2. Agree to finalize shareholder list on 20 November 2013 to collect written opinions on:- Using profit after tax in 2013 to purchase Vietnam Export Import Commercial Joint Stock Bank's shares for treasury stock.- Assigning the Board of Directors and the Management to conduct relevant procedures for stock redemption, including obtaining approval from competent authorities (if any).

20 16 Dec 2013 Agree with the suggestions of the Project Manager-Turner Vietnam Company and Nikken Sekkei regarding bidder selection for BP02 package -Piles and Diaphragm Walls of Eximbank Tower project.

18 07 Nov 2013 Agree to ratify the plan of buying back 61,776,145 shares of Vietnam Export Import Commercial Joint Stock Bank as treasury stock in two phases, of which 11,000,000 shares (equivalent to 0.89% of the total number of outstanding shares) shall be redeemed in the

st1 phase and 50,776,145 shares (equivalent to 4.11% of the total number of oustanding shares)

ndshall be redeemed in the 2 phase.

19 29 Nov 2013 The Board of Directors agreed to appoint Mr. Cao Xuan Lanh as Vice President of Eximbank (Resolution dated 29/11/2013, Decision dated 02/12/2013 and coming into effect as from 02/12/2013)

21 20 Dec 2013 - Agree to appoint Mr. Nguyen Quoc Huong-Acting Chief Executive Officer to hold the title of Chief Executive Officer of Eximbank.- Agree to assign Mr. Nguyen Quang Thong-Board Member to hold the title of Vice Chairman of the Board of Directors.



V.1.5. Operations of the Councils and Committees under the Board of Directors

Central Credit Council: in order to grow credits safely, the Council frequently organized




meetings to timely settle credit applications which exceed the authority of Head Office Credit Council as

well as discussed on policies and strategies from time to time.

Credit Risk Handling Council: during the year, the Council always proactively monitored and

reviewed the situation of overdue loans and non performing loans of the Bank, timely handled

applications in accordance with internal regulations of Eximbank and laws.

Central Investment Council: frequently review the bond and securities investment portfolio of

Eximbank to ensure the effectiveness of the portfolio under tough and volatile economic conditions. In

addition, the Council also made research and planning on effective investment strategies to create stable

income in the long run.

Compliment, Reward and Discipline Council: frequently monitor and keep abreast of

operating condition and officer quality, timely consult the Board of Directors, handle issues relating to

reward and discipline as regulated.

Risk Management Committee: convene regular meetings to discuss the following issues:

a) Credit growth in close attachment with risk management;

b) Changes in the credit model at the Head Office and Branches;

c) Assessment over operational risks;

d) Credit quality control: bad debts and difficulties in handling bad debts.

Personnel Committee: consult the Board of Directors on the personnel issues in the network

thduring the year and supplemental election of the Board members for the V term of office (2010-2015)

Alliance Committee: established in accordance with the Strategic Alliance Agreement signed

between Eximbank and SMBC on 27/11/2007. The Alliance Committee holds meetings every 6 months to

assess the strategic alliance results in each specific field such as wholesale banking, retail banking,

corporate governance, risk management and information technology, helping Eximbank improve its

operational quality, risk management and liquidity management, expand customer base and enhance

Eximbank's prestige, position and brand name.

Bank Development Strategy Committee: the Committee's members frequently study and stay

abreast of the market and industry information so as to have discussions, forecasts and strategic advice to

the Board of Directors on direction.

External Relations Committee: take the mission of consulting the Board of Directors in

establishment of strategies, policies and other issues relating to external relations of Eximbank.


V.2. The Board of Supervisors

V.2.1 Members and structure of the Board of Supervisors

The Board of Supervisors of the term of office 2010 – 2015 has 3 members, 2 of whom are full-time

members who do not concurrently assume other positions or work at Eximbank and other corporations.

The members of the Board of Supervisors include:

Mr. Dang Huu TienChief Supervisor

Mr. Dang Huu Tien was born in 1962 in Hanoi. He

graduated from Master of Business Administration (MBA)

course of Columbia University, and also holds a Master Degree

in Economics of University of Commerce, Bachelor Degree in

Economic Planning, and Bachelor Degree in Foreign Trade

Economics.

From 1998 to 2010, he has been a full-time member of the

Board of Supervisors of Eximbank. He has lots of experience in

treasury, credit, accounting-auditing, inspection and control.

Mr. Nguyen Hong LongMember of the Board of Supervisors

Mr. Nguyen Hong Long was born in 1964 in Hoa Binh

(Hanoi). He graduated from the Master of Business

Administration (MBA) course of Southern Columbia University,

US. He also holds a Master Degree in Economics of the

University of Commerce and a Bachelor Degree in Economic

Planning. He is currently doctoral researcher at Southern

Columbia University. He is a financial expert with lots of

experience in banking-finance and corporate governance. He

used to be a major lecturer for the Chief Accountant, Chief

Financial Officer-CFO and Chief Executive Officer-CEO Training Programs; Director of Economic Research

Department at Ho Chi Minh Economically Applied and Informatics Research Institute; Chairman of

Standard Securities JSC. Before being elected into the Board of Supervisors of Eximbank (in April 2010), he

was a standing member of the Development Strategy Committee of Eximbank, and simultaneously a

member of Eximbank's Board of Consultants. He is currently a full-time member of the Board of

Supervisors of Eximbank.


His current position at Eximbank is Chief Supervisor of the Board of Supervisors.

Mrs. Nguyen Thi Phung

Mrs. Nguyen Thi Phung was born in 1954 in Tien Giang.

She is a Bachelor of Banking-Finance. In July 2010, she was

elected to be member of the Board of Supervisors of Eximbank

for the term of office 2010 – 2015. She has lots of experience in

banking, especially in treasury - credit, internal inspection and

control, and banking governance. She used to be Vice

President cum Trade Union President of Eximbank through the

period of 2000 – 2010; member of the Board of Directors and

Vice Chairman of the Board of Directors of Viet A Commercial

The Board of Supervisors has the Board of Internal Auditors as its assisting body (in 2013 this

Board has 65 people).

V.2.2. Changes in the members of the Board of Supervisors

In 2013, there was no change in the members of the Board of Supervisors

V.2.3. Shareholding ratio of the members of the Board of Supervisors

No. Full name Position Shareholding ratio (%)

1 Mr. Dang Huu Tien Chief Supervisor 0.0068182

2 Mr. Nguyen Hong Long Member 0.0000013

3 Mrs. Nguyen Thi Phung Member 0.0111444

V.2.4. Operations of the Board of Supervisors

The Board of Supervisors is the body supervising the Bank's operations in order to have an

accurate assessment of the Bank's business activities and actual financial status, performing internal

auditing, controlling, and evaluating the compliance with law stipulations, internal regulations, the

Bank's Charter, and the Resolutions and Decisions of the General Meeting of Shareholders and the Board

of Directors.

The Board of Supervisors closely coordinated with the Board of Directors and the Board of

Management to perform its functions and duties; attended all meeting sessions of the Board of Directors,

Member of the Board of Supervisors

J.S. Bank (2003-2011). She is currently a full-time member of the Board of Supervisors of Eximbank


meetings among the Standing Board of Directors - Board of Supervisors - Board of Management, monthly

meetings, and preliminary/final conferences.

In 2013, the Board of Supervisors met in 16 sessions to discuss and implement its own tasks, and

organized 13 extended sessions with the Chief of the Board of Internal Auditors to discuss, implement

and perform its functions and duties. In addition, full-time members of the Board of Supervisors directly

participated and chaired 42 meeting sessions with auditing teams and audited units to discuss, consider,

conclude and give instructions on carrying out planned internal audit independently - objectively (to

ensure precise/honest reflection of the performance of audited units), as well as issues to be clarified with

internal audit teams.

The Board of Supervisors uses its Internal Auditor mechanism to conduct periodical and

unexpected risk-oriented internal audit, combines onsite and remote audits via the internal information

system (through the internal information system, the Board of Supervisors executes remote supervision

over major business activities at the units in Eximbank's network). The subjects to be audited are Main

Transaction Office, branches, transaction offices, divisions and departments at Head Office. The internal

inspection and control quality has been increasingly improved and enhanced. The contents of internal

audit focus on operational procedures and the inspection and control systems to detect, prevent and

restrict risks in operations, and ensure the compliance with regulations of the State regulators and

Eximbank.

In the fiscal year 2013, the Board of Supervisors assigned working teams (directly instructed and

led by members of the Board of Supervisors) to the belonging units to perform internal audit on a

planned or unexpected basis at the Main Transaction Office No.1/Branches and 163 belonging

transaction offices; inspected and reviewed the Financial statements of 2012 and Interim Financial

statements of 2013 of the Bank. Through the inspection and audit, the working teams made

recommendations for the Branches and Departments/Units at Head office to remedy mistakes and

restrict risks in operations.


No.Transaction performer

Relationship with internal shareholders/

major shareholders Number of shares

Ratio/ charter

capital (%)

Number of shares held at the beginning of the year

Number of shares held at the end of the year Reason for increase/

decrease (buy, sell, transfer, reward …)

Number of shares

Ratio/ charter

capital (%)

V.3. Transactions, remunerations, and interests of the Board of Directors, the Board of Supervisors

and the Board of Management

V.3.1. Income, remunerations and other interests of the Board of Directors and the Board of

Supervisors

2013's General Meeting of Shareholders approved the remunerations, salaries and allowances of

the Board of Directors and Board of Supervisors in 2013 to be 1.5 of the profit after tax.

V.3.2. Information on transactions of Eximbank's shares and other transactions made by the

related persons of the Board of Directors, the Board of Supervisors and the Board of Management.

Song Viet Joint Stock Company

Mr. Ha Thanh Hung -Chairman of the Board of Directors of Song Viet Joint Stock Company

2,482,529 0.2009 2,341,929 0.1895sold: 140,600 shares on 31/01/2013

Ms. Ha Thi My Trang

Mr. Ha Thanh Hung's younger sister

20,025 0.0016 20,025

Registered to buy 200,000 shares from 04/12/2012 to 02/01/2013 but failed because the share prices did not match expected prices (reported in 2012)

0.0016

5 Sold 20,020 shares on 12/3/2013

0.0000004

Mr. Tran Tan Loc


140,044 0.0113 0Sold from 20/8/2013 to 05/9/20130

Ms. Ho Thien Nga

Mr. Tran Tan Loc's wife 41,738 0.0034 0

Sold from 20/8/2013 to 05/9/20130

1

2

3

4

5

Ms. Ha Thi My Trang

Mr. Ha Thanh Hung's younger sister

20,025 0.0016


No.Transaction

owner

Relationship with internal

shareholder/major shareholders

Number of shares

Ratio to charter capital

Number of shares at the beginning of the year

Number of shares at the end of the year Reason for increase/

decrease (buy, sell, transfer, reward …)

Number of shares

Ratio to charter capital

Executive Committee of the Trade Union of Eximbank

Ms. Dinh Thi Thu Thao –Vice President as the President of the Executive Committee of the Trade Union

3,485,675 0.2821 3,975,675 0.3218

Bought 490,000 shares from 28/8/2013 to 26/9/2013

Song Viet Joint Stock Company

Mr. Ha Thanh Hung -Chairman of the Board of Directors of Song Viet Joint Stock Company

2,341,929 0.1895 2,231,929 0.1442

Sold 110,000 shares (Song Viet Joint Stock Company registered to sell 560,000 shares from 25/12/2013 to 24/01/2014)

V.3.3. Activities to enhance the effectiveness of corporate governance

Apart from regular meetings with the Board of Management and functional units, the Standing

Board of Directors weekly organized meetings with the Board of Management and branches in order to

control and inspect the operation of the whole network, and give directions related to the

implementation of the Resolutions of the General Meeting of Shareholders and of the Board of Directors.

With the IT system enabling instant control and the online video conference system throughout the

network, the Board of Directors can timely and quickly monitor and keep abreast of the business activities

of the branches.

Branches in the country have been organized into 5 geographic regions, namely the North,

Central - Highlands, South-eastern, Ho Chi Minh City and South-western. The Board of Directors assigned

members to take charge of each region in order to stay abreast of business situation and provide timely

support to the Regions. This new model has at the inception brought some positive results, creating

momentum for branches and regions to be more confident in doing business.

6

7


Eximbank proactively diversified its business activities, strongly developed retail banking by new

sales models which were more dynamic and flexible in order to raise competitiveness against other banks

and contribute to the offering of more options of optimal banking products and services to the retail

customer segment. Procedures and formalities in retail banking were improved and revised to be easier

and more convenient to customers. Thanks to that, Eximbank's brand name has become more popular in

retail banking sector. Besides, the Board of Directors agreed in principle to assign the Board of

Management to highly increase the number of sales officers whose remunerations are paid based on

revenues in order to increase business efficiency.

In parallel with strongly developing retail banking model, Eximbank has always attached with

special importance to and concentrated on reinforcing and developing its traditional advantage as

corporate finance. Over the past years, the Board of Directors has actively been standing with the

Management in marketing and sales by persisting to establish relations with those customers who are

big companies, enterprises and economic groups to exploit the opportunities of financing large and

long-term projects and offering them with comprehensive packages of retail and corporate banking

products and services.

Another business area which creates income and has no less importance than retail banking and

corporate banking is financial investment activity. The Bank continued to strengthen its financial

investment activity in 2013 with low profit portfolios being gradually divested. Besides, the Board of

Directors and the Standing Board of Directors researched, surveyed and invested in big projects which

are potential to bring good income in the medium and long term. These were breakthrough factors

contributing to Eximbank's profit.

The task of operational supervision and debt handling are always highlighted and closely

instructed by the Board of Directors. Business development is the top objective but the Board of Directors

has insisted on the principle of ensuring credit quality and not loosening credit approval conditions for

the sake of loan balance and profit targets. The Board of Directors has always been determined to follow

stable and sustainable growth, not to pursue profit targets; hence, the reported business results always

truly and accurately reflect Eximbank's performance. In 2013, under the context of tough and challenging

economy, Eximbank chose to surmount the outstandings extended from the previous time to lay a

transparent and healthy foundation for later growth.


The Board of Directors also paid in-depth attention to the issues of personnel and training, and

gave instructions to the Board of Management in restructuring, shuffling the system's apparatus in order

to enhance labor capacity and best promote human resources. Models of units, departments, sections

were also reorganized in way of best supporting sales activities; accordingly, the force directly serving

customers was strengthened, and unnecessary intermediary and indirect positions were minimized to

increase the speed and quality of customer servicing. Eximbank's Board of Directors was confident to

assign Mr. Naoki Nishizawa - Vice Board Chairman, a senior secondee from SMBC, to be Director of the

Training Center to best promote support from the foreign strategic shareholder – SMBC in terms of

training and personnel.

Concerning the information technology, Eximbank's core banking system has made decisive

contributions to the straight-through and instant processing of customers' transactions over the past

time. In future, to ensure system safety and stability, Eximbank is implementing the project of upgrading

and replacing the core banking system as required. This will be the technological foundation for

Eximbank to develop more hi-tech modules of services to better serve customers.

As for Eximbank's brand name, a great leap forward has been made in terms of brand recognition

to customers thanks to the generous and effective sponsorship. Eximbank's Board of Directors always

pays great attention to sponsor for social and charity activities as they are corporate social responsibility,

contributing to create a friendlier image of Eximbank which is for the community.

One of the advantages of Eximbank is to have a solid shareholding structure where large

shareholders, especially the leading Japanese bank - SMBC, extend very strong support. SMBC has had a

course of close and comprehensive cooperation with Eximbank since 2008 under the Strategic Alliance

Agreement for more than last 6 years with specific collaborations in many sectors such as retail banking,

corporate banking and investment banking…

In addition to regular meetings of the Board of Directors, operations of the Councils and

Committees under the Board of Directors were frequently conducted and consistently improved. The

Councils and Committees through their meeting sessions effectively consulted the Board of Directors

and Board of Management about proper and suitable orientations and guidelines, creating safety,

transparency and soundness in operations in line with international standards.


VI. FINANCIAL STATEMENTS

Audited consolidated financial statements

31 December 2013


Report of the Board of Management and

General information

Report of the Board of Management

Independent auditors' report

Consolidated balance sheet

Consolidated income statement

Consolidated cash flow statement

Notes to the consolidated financial statements

CONTENTS


BOARD OF SUPERVISORS

Members of the Board of Directors during the year and at the date of this report are:

Members of the Board of Supervisors during the year and at the date of this report are:

Date of appointment

Mr. Dang Huu Tien

Mr. Naoki Nishizawa

Mr. Nguyen Hong Long

Mr. Ha Thanh Hung

Ms. Nguyen Thi Phung

Mr. Nguyen Quang Thong

Mr. Truong Van Phuoc

Mr. Hoang Tuan Khai

Mr. Dang Anh Mai

Mr. Lawrence Justin Wolfe

Mr. Philip Simon Rupert Skevington

Mr. Nguyen Ngoc Ban

Chairman

Chief Supervisor

Vice Chairman

Member

Vice Chairman

Member

Vice Chairman

Member

Member

Member

Member

Member

Appointed on 28 April 2010


Appointed on 26 January 2011



Appointed on 28 July 2010

Appointed on 20 December 2013

Vice Chairman Resigned on 5 September 2013




Resigned on 26 April 2013

Resigned on 3 December 2013

Mr. Le Hung Dung

GENERAL INFORMATION

THE BANK

BOARD OF DIRECTORS

Vietnam Export Import Commercial Joint Stock Bank (“the Bank”) is a commercial joint stock bank incorporated in the Socialist Republic of Vietnam.

The Bank was established on 24 May 1989 under Decision No. 140/CT issued by the Chairman of Council of Ministers under the name of Vietnam Export Import Bank. On 6 April 1992, the State Bank of Vietnam granted License No. 11/NH-GP to the Bank, which approved its operational duration of 50 years.

The Bank is allowed to carry out full range of banking services including mobilising and receiving short, medium and long-term deposits from various organisations and individuals; providing short, medium and long-term loans to various organisations and individuals based on the Bank's nature and capacity of the capital resources; foreign exchange trading; international trade finance services; discount of commercial papers, bonds and other valuable papers; settlement services and other banking services as allowed by the State Bank of Vietnam.

thThe head office of the Bank is located at 8 Floor, Office No. L8-01-11+16, Vincom Center, 72 Le Thanh Ton Street and 45A Ly Tu Trong Street, Ben Nghe Ward, District 1, Ho Chi Minh City. As at 31 December 2013, the Bank had one (1) Main Transaction Office, forty one (41) branches located in cities and provinces in Vietnam and one (1) representative office in Hanoi.

Name

Name

Position

Position

Date of appointment/resignation


Name Position Date of appointment/resignation

Chief Executive Officer Appointed on 20 December 2013

Resigned on 5 September 2013

Appointed on 28 March 2007



Appointed on 18 July 2008

Appointed on 22 November 2010

Appointed on 9 May 2012

Appointed on 6 June 2012

Appointed on 6 August 2013

Appointed on 6 August 2013

Appointed on 5 September 2013




Appointed on 20 January 2014

Resigned on 17 September 2013



Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Vice President

Chief Accountant Appointed on 5 September 2013

Vice President cum Chief Financial Officer

GENERAL INFORMATION (continued)

BOARD OF MANAGEMENT AND CHIEF ACCOUNTANT

LEGAL REPRESENTATIVE

AUDITORS

Members of the Board of Management and Chief Accountant during the year and at the date of this report are:


Mr. Truong Van Phuoc

Mr. Tran Tan Loc

Mr. Dao Hong Chau

Ms. Dinh Thi Thu Thao

Mr. Kenji Kuroki

Mr. Nguyen Thanh Nhung

Ms. Van Thai Bao Nhi

Mr. Mitsuaki Shiogo

Mr. Le Anh Tu

Ms. Bui Do Bich Van

Mr. Nguyen Ho Hoang Vu

Mr. Le Hai Lam

Mr. Nguyen Quang Triet

Mr. Cao Xuan Lanh

Mr. Nguyen Van Hao

Mr. To Nghi

Mr. Nguyen Ngoc Ha

The legal representative of the Bank up to 5 September 2013 is Mr. Truong Van Phuoc - Chief Executive Officer.

The auditor of the Bank is Ernst & Young Vietnam Limited.

The legal representative of the Bank from 5 September 2013 to the date of this report is Mr. Nguyen Quoc Huong- Chief Executive Officer.


select suitable accounting policies and apply them consistently;

make judgments and estimates that are reasonable and prudent;

REPORT OF THE BOARD OF MANAGEMENT

The Board of Management of Vietnam Export Import Commercial Joint Stock Bank (“the Bank”) is pleased to present its report and the consolidated financial statements of the Bank and its subsidiary as at and for the financial year ended 31 December 2013.

The Board of Management of the Bank is responsible for the consolidated financial statements, which give a true and fair view of the consolidated financial position of the Bank and its subsidiary and of the consolidated results of their operations and their consolidated cash flows. In preparing those consolidated financial statements, the Board of Management is required to:

The Board of Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at any time, the consolidated financial position of the Bank and its subsidiary and ensuring that the accounting records comply with the applied accounting system. The Board of Management is also responsible for safeguarding the assets of the Bank and its subsidiary and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Board of Management does hereby state that, in its opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position of the Bank and its subsidiary as at 31 December 2013 and of the consolidated results of their operations and their consolidated cash flows for the financial year then ended in accordance with the Vietnamese Accounting Standards and Accounting System for Credit Institutions and the statutory requirements relevant to preparation and presentation of consolidated financial statements.

The Board of Management confirmed that it has complied with the above requirements in preparing the accompanying consolidated financial statements for the financial year ended 31 December 2013.

state whether applicable accounting standards have been followed, by the Bank and its subsidiary, subject to any material departures disclosed and explained in the consolidated financial statements; and

prepare the consolidated financial statements on the going concern basis unless it is inappropriate to presume that the Bank and its subsidiary will continue in business.


Ho Chi Minh City, Vietnam 28 March 2014

THE BOARD OF MANAGEMENT'S RESPONSIBILITY IN RESPECT OF THE CONSOLIDATED FINANCIAL STATEMENTS

STATEMENT BY THE BOARD OF MANAGEMENT

On behalf of the Board of Management:


Reference: 60859558/16472453

INDEPENDENT AUDITORS' REPORT

To: The Shareholders of Vietnam Export Import Commercial Joint Stock Bank

Management's responsibility for the consolidated financial statements

Auditor's responsibility

We have audited the accompanying consolidated financial statements of Vietnam Export Import Commercial Joint Stock Bank (“the Bank”) as prepared on 28 March 2014 and set out on pages 6 to 63 which comprise the consolidated balance sheet as at 31 December 2013, the consolidated income statement and the consolidated cash flow statement for the year then ended and the notes thereto.

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Vietnamese Accounting Standards, Accounting System for Credit Institutions and with statutory requirements relevant to preparation and presentation of consolidated financial statements, and for such internal control as management determines is necessary to enable the preparation and presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Bank's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Bank and its subsidiary's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.


Opinion

In our opinion, the consolidated financial statements give a true and fair view, in all material respects, of the consolidated financial position of the Bank and its subsidiary as at 31 December 2013, and of the consolidated results of their operations and their consolidated cash flows for the year then ended in accordance with Vietnamese Accounting Standards, Accounting System for Credit Institutions and with statutory requirements relevant to preparation and presentation of consolidated financial statements.


5 1,480,223 13,209,831

6

7

2,258,816

57,874,498 57,515,031

7.17.2

30,316,278 36,342,449

2,269,024

27,558,220 21,172,582

8 7,190 -

82,643,274 74,315,952

9 83,354,232 74,922,289

10.1 (710,958) (606,337)

14,655,017 11,752,036

1,002,068 1,002,192

13,652,949 10,749,844

11

12 2,012,877 2,388,856

99,912 97,351

Derivatives and other financial assets

Loans and advances to customers

Investment securities

Long-term investments

Available-for-sale investment securities

Held-to-maturity investment securities

Other long-term investments

Provision for decline in value of long-term investments

Investments in associates 12.1

12.2

12.2

2,036,030

(123,065)

2,356,030

(64,525)

CONSOLIDATED BALANCE SHEET as at 31 December 2013

Notes 31 December 2012VND million

31 December 2013VND million

ASSETS

Cash, gold and precious stones

Balances with the State Bank of Vietnam

Due from and loans to other banks

Due from other banks


Loans to other banks

Provision for loan losses


4,320,661 3,314,727

13.1 848,7181,453,325(604,607)

858,3071,391,628 (533,321)

13.2 3,471,9433,542,628

(70,685)

2,456,4202,513,680

(57,260)

4,582,904

2,458,418

1,911,743212,743

2,600,359

2,650,444139,750

5,390,553

169,835,460 170,156,010

426,801 15,025

14.1

14

14.2

15

16 65,766,554 58,046,426

16.1

16.2

35,557,264

30,209,290

32,553,784

25,492,642

79,472,41117 70,458,310

CostAccumulated amortisation

Intangible fixed assets

Accumulated depreciation CostTangible fixed assets

Other assets

TOTAL ASSETS

LIABILITIES

Other assets

Due to other banks

Borrowings from other banks

Interest and fees receivable

Receivables

Customer deposits

Derivatives and other financial liabilities -8 87,679

CONSOLIDATED BALANCE SHEET (continued)as at 31 December 2013



Fixed assets

Borrowings from the Governmentand the State Bank of Vietnam

Due to and borrowings from other banks


Other liabilities

TOTAL LIABILITIES

OWNERS' EQUITY

TOTAL OWNERS' EQUITY

TOTAL LIABILITIES AND OWNERS' EQUITY

Capital

Reserves

Retained earnings

Valuable papers issued 18 7,677,744

1,811,633

11,880,355

13,856,010

19

10.2

1,467,689

287,500

56,444

155,155,143

2,149,878

11,663,112

43,020

154,343,805

12,526,947

12,355,229

15,396

156,322

1,525,254

628,116

12,526,947

12,355,229

15,396

156,322

1,391,274

1,893,984

14,680,317

169,835,460

15,812,205

170,156,010

21.1


Interest and fees payable

Other payables

Charter capital

Share premium



Provision for contingent liabilities and off-balance sheet commitments

Fund for capital expenditure


Contingencies

Commitments

OFF-BALANCE-SHEET ITEMS

Financial guarantees

Letters of credit

Other guarantees

Other commitments

6,534,056

1,581,845

3,633,646

1,318,565

153,780

153,780

6,687,836

4,890,211

1,855,770

2,247,816

786,625

151,739

151,739

5,041,95034





Prepared by: Reviewed by: Approved by:

Mr. Nguyen Minh ThanhGeneral Accountant

Mr. Nguyen Ngoc HaChief Accountant



Net interest and similar income

Net other incomeGain/(loss) from long-term investments

Net fees and commission incomeNet loss from foreign currencies and gold tradingNet loss from dealing of investment securities

Interest and similar income

Other income

Interest and similar expenses

Other expenses

Fees and commission incomeFees and commission expenses

Personnel expenses TOTAL OPERATING INCOME

Depreciation and amortisation charges Other operating expenses TOTAL OPERATING EXPENSES

Provision for loan lossesProfit before credit loss expenses

Credit loss expenses

PROFIT BEFORE TAX

Total corporate income tax expenses

PROFIT AFTER TAX

Basic earnings per share (VND)

Current corporate income tax expenseDeferred corporate income tax expense

10,902,228(8,165,884)2,736,344

459,345(184,158)275,187

(113,577)(3,189)319,900

(115,974)203,926150,171

3,248,862(944,166)(183,951)(992,608)

(2,120,725)

1,128,137(286,845)

(13,424)

(300,269)

827,868(169,162)

-(169,162)

658,706

533

2324

252627

2829

30

10.1

10.2

20

22

16,931,873(12,030,414)

4,901,459410,766

(167,991)242,775

(297,374)(2,659)855,589

(297,013)558,576(15,516)

5,387,261(1,119,370)

(191,188)(986,399)

(2,296,957)

3,090,304(249,727)

10,420

(239,307)

2,850,997(712,342)

-(712,342)

2,138,655

1,731


Prepared by: Reviewed by:




CONSOLIDATED INCOME STATEMENT

for the financial year ended 31 December 2013

Notes2013

VND million2012

VND million

(Provision)/reversal of provision for contingent liabilities and off-balance sheet commitments

Approved by:


Other operating (expense)/income

Recovery from bad debts written-off previously

Payments to employees and other operating expenses

Corporate income tax paid during the year

(Increase)/decrease in trading securities

Increase in derivatives and other financial assets

Increase in loans and advances to customers

Decrease in derivatives and other financial liabilities

Increase in customer deposits

Decrease in valuable papers issued

Decrease in other liabilities

Reserves utilised during the year

11,625,641(7,478,782)

275,187

(116,766)

(8,241)

90,367

(1,936,948)

(248,888)

2,201,570

13,895,817

(1,978,671)

(7,190)

(9,344,891)

(173,195)

448,217

411,776

7,720,128

9,014,101

(4,202,611)

(87,679)

(12,514,953)

(142,638)

5,239,781

25

28

16,787,249(11,816,913)

242,775

(300,033)

50,767

57,858

(2,235,957)

(956,138)

1,829,608

(11,818,275)

14,924,758

-(258,959)

(262,552)

1,409,775

(1,297,332)

(13,813,015)

16,805,671

(7,330,632)

(69,461)

(7,008,283)

(244,410)

(7,133,107)

20

10.1

21.1

CONSOLIDATED CASH FLOW STATEMENT

CASH FLOWS FROM OPERATING ACTIVITIES


B04/TCTD-HN

Notes2013

VND million2012

VND million

Interest and similar receiptsInterest and similar payments

Net fees and commission income receiptsNet payments from dealing of foreign currencies, gold and securities

Net operating cash flows before changes in operating assets and liabilities

Changes in operating assets

Changes in operating liabilities

Net cash flows from/(used in) operating activities

Decrease/(increase) in due from and loans to other banks

Decrease in provisions for writing-off of loans to customers

Increase/(decrease) in borrowings from the Government and the State Bank of Vietnam

Increase/(decrease) in due to and borrowings from other banks

Decrease in other assets


(1,535,071)

212,033

-110,599

157,620

(1,054,819)

(1,669,418)

(1,669,418)

2,515,544

37,930,569

40,446,113

28

31

31

21.3

(2,061,262)

543,027

(1,665,441)

180,893

2,219

(3,000,564)

(2,381,248)

(2,381,248)

(12,514,919)

50,445,488

37,930,569

CONSOLIDATED CASH FLOW STATEMENT (continued)

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash flows used in investing activities

Net cash flows used in financing activity

Net cash flows in the year

CASH FLOWS FROM FINANCING ACTIVITY


Purchase of fixed assets

Proceeds from disposal of fixed assets

Payments for investments in other entities

Receipts from investments in other entities

Dividends paid to shareholders

Dividends receipts and profit shared from long-term investments

B04/TCTD-HN

Notes2013

VND million2012

VND million

Cash and cash equivalents at the beginningof the year

Cash and cash equivalents at the end of the year


Prepared by: Reviewed by:




Approved by:


1.

4103008092 10,86%

4103005723 Real estate

Securities activities

10,99%

As at 31 December 2013, the Bank has two (2) following associates:

Viet Dragon Securities Corporation

Eximland Corporation

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

CORPORATE INFORMATION

as at and for the financial year ended 31 December 2013

B05/TCTD-HN

Vietnam Export Import Commercial Joint Stock Bank (“the Bank”) is a commercial joint stock bank incorporated in the Socialist Republic of Vietnam.

The Bank was established on 24 May 1989 under Decision No. 140/CT issued by the Chairman of Council of Ministers under the name of Vietnam Export Import Bank. On 6 April 1992, the State Bank of Vietnam (“SBV”)granted License No. 11/NH-GP to the Bank which approved its operational duration of 50 years.

The charter capital of the Bank as at 31 December 2013 was VND12,355,229 million (as at 31 December 2012: VND12,355,229 million) which was fully contributed by the shareholders.

thThe head office of the Bank is located at 8 Floor, Office No. L8-01-11+16, Vincom Center, 72 Le Thanh Ton Street and 45A Ly Tu Trong Street, Ben Nghe Ward, District 1, Ho Chi Minh City. As at 31 December 2013, the Bank had one (1) Main Transaction Office, forty one (41) branches located in cities and provinces in Vietnam and one (1) representative office in Hanoi.

As at 31 December 2013, the Bank had a wholly-owned subsidiary named Eximbank Asset Management Company with charter capital of VND1,700,000 million in accordance with Business Registration Certificate No. 0310280974 issued by the Department of Planning and Investment of Ho Chi Minh City on 24 September 2012. The actual contributed capital of the subsidiary as at 31 December 2013 was VND955,000 million (as at 31 December 2012: VND870,000 million).

The Bank's principal activities are to carry out full range of banking services including mobilising and receiving short, medium and long-term deposits from various organisations and individuals; providing short, medium and long-term loans to various organisations and individuals based on the Bank's nature and capacity of the capital resources; foreign exchange trading; international trade finance services, discount of commercial papers, bonds and other valuable papers; settlement services and other banking services as allowed by the State Bank of Vietnam.

Establishment and Operations

Charter capital

Operation network

Subsidiary and associates

Operating License No.

Nature ofbusiness

Ownership ofthe Bank


Employees

Fiscal year

Accounting currency

Compliance with Vietnamese Accounting Standards and Accounting System for Credit Institutions

Accounting standards and system

2.

2.1

2.2

3.

3.1

3.2

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)


The Bank is the founding shareholder and has significant influence on the operation of the above associates through its representatives in the Board of Directors and rights to participate in making policies of these associates.

Total employees of the Bank and its subsidiary as at 31 December 2013 were 5,362 persons (31 December 2012: 5,800 persons).

The Bank and its subsidiary's fiscal year starts on 1 January and ends on 31 December.

Decision No. 149/2001/QD-BTC dated 31 December 2001 on the Issuance and Promulgation of Four Vietnamese Standards on Accounting (Series 1);

Decision No. 165/2002/QD-BTC dated 31 December 2002 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 2);

The Board of Management confirms that the accompanying consolidated financial statements are prepared in accordance with the Vietnamese Accounting Standards and Accounting System for Credit Institutions.

The consolidated financial statements of the Bank and its subsidiary are prepared in accordance with the Vietnamese Accounting System for Credit Institutions required under Decision No. 479/2004/QD-NHNN issued on 29 April 2004 by the State Bank of Vietnam and its related amendments to Decision No. 479/2004/QD-NHNN, Decision No. 16/2007/QD-NHNN issued on 18 April 2007 by the Governor of the State Bank of Vietnam regarding the financial reporting mechanism for credit institutions and other Vietnamese Accounting Standards issued by the Ministry of Finance as per:

The Bank and its subsidiary maintain their accounting records in Vietnam Dong (VND). However, due to the Bank and its subsidiary's large scale of operations, for the purpose of preparing these consolidated financial statements, the figures are rounded to and presented in millions of Vietnam Dong (VND million). This presentation does not impact the view of the readers on the consolidated financial position of the Bank and its subsidiary and the consolidated results of their operations and their consolidated cash flows.

B05/TCTD-HN

FISCAL YEAR AND ACCOUNTING CURRENCY

ACCOUNTING STANDARDS AND SYSTEM


3.33.3

3.4


Consolidation of financial statements

Use of estimates


The accompanying consolidated financial statements have been prepared using accounting principles procedures and reporting practices generally accepted in Vietnam. Accordingly, the accompanying consolidated balance sheet, consolidated income statement, consolidated cash flow statement and notes to the consolidated financial statements and their utilisation are not designed for those who are not informed about Vietnam's accounting principles, procedures and practices and furthermore are not intended to present the consolidated financial position, the consolidated financial performance and the consolidated cash flows in accordance with accounting principles and practices generally accepted in countries other than Vietnam.

The consolidated financial statements include the financial statements of the Bank and of its subsidiary as at and for the year ended 31 December. The financial statements of the subsidiary are prepared for the same reporting period as the Bank and using consistent accounting policies.

The preparation of the consolidated financial statements requires the Board of Management make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities. These estimates and assumptions also affect the income and expenses and the resultant provisions. Such estimates are necessarily based on assumptions involving varying degrees of subjectivity and uncertainty and actual results may differ, resulting in future changes in related items.

All intra-group balances, transactions, including unrealised profits resulting from intra-group transactions are eliminated in full.

The financial statements of subsidiary are fully consolidated from the date when the control is transferred to the Bank. The control is achieved when the Bank has the power, directly or indirectly, to govern the financial and operating polices of subsidiary so as to obtain benefits from its activities. The operating results of subsidiary acquired or disposed during the period are included in the consolidated income statement from the date of acquisition or up to the date of disposal, as appropriate.

Decision No. 234/2003/QD-BTC dated 30 December 2003 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 3);

Decision No. 12/2005/QD-BTC dated 15 February 2005 on the Issuance and Promulgation of Six Vietnamese Standards on Accounting (Series 4); and

Decision No. 100/2005/QD-BTC dated 28 December 2005 on the Issuance and Promulgation of Four Vietnamese Standards on Accounting (Series 5).

B05/TCTD-HN


3.5

3.6

Going concern


Changes in accounting policies and disclosures

Standards issued but not yet effective


B05/TCTD-HN

The Board of Management of the Bank has assessed the Bank and its subsidiary's ability to continue as a going concern and recognised that the Bank and its subsidiary have sufficient resources to maintain their business in a definite future. In addition, the Board of Management is not aware of any significant uncertainties that may affect the Bank and its subsidiary's ability to continue as a going concern. Therefore, the consolidated financial statements are prepared on a going concern basis.

The accounting policies adopted by the Bank and its subsidiary in the preparation of the consolidated financial statements are consistent with those followed in the preparation of the consolidated financial statements for the financial year ended 31 December 2012.

Standards issued but not yet effective up to the date of issuance of the Bank's consolidated financial statementsare listed below. The Bank intends to adopt those standards when they become effective.

On 21 January 2013, the State Bank of Vietnam issued Circular No. 02/2013/TT-NHNN regulating classification of assets, making and use of provision in the operations of credit institutions and foreign bank's branches. On 27 May 2013, the State Bank of Vietnam issued Circular No. 12/2013/TT-NHNN to amend Clause 1 Article 25 of Circular 02 which postpones the effective date of Circular 02 from 1 June 2013 to 1 June 2014.

Further, the State Bank of Vietnam issued Circular No. 09/2014/TT-NHNN dated 18 March 2014 which provides certain amendments and additions to Circular 02.

Significant changes in Circular 02 are as follows:

Circular 02 will replace the current regulations on loan classification and provision for loans and advances to customers as stipulated in Decision No. 493/2005/QD-NHNN dated 22 April 2005, Decision No. 18/2007/QD-NHNN dated 25 April 2007, and Decision No. 780/2012/QD-NHNN dated 23 April 2012.

Scope of loan classification: Credit institutions are required to make classification and provision for entrusted investments, entrustment for credit granting, credit cards, loans bought/sold, and due from other banks, etc. General provision for off-balance-sheet commitments is not compulsory.

Use of credit information: Credit institutions are required to make adjustment on their classification of loans and off-balance-sheet commitments to higher risk groups following the information on loan classification obtained from the Credit Information Center of the State Bank of Vietnam(“CIC”). Credit institutions are also required to report their loan and off-balance-sheet commitment classification to the CIC on a quarterly basis. This requirement will become effective from 1 January 2015.

Circular No. 02/2013/TT-NHNN - Regulations on classification of assets, establishment and levels of provision, and use of provision in the operations of credit institutions and foreign banks' branches (“Circular 02”).


4.1

4.2

4.3

4.

3.6

3.



Valuation of collaterals: Collaterals exceeding VND200 billion or collaterals of loans to related parties and loans subject to credit restrictions exceeding VND50 billion must be appraised by an independent valuer.

Cash and cash equivalents comprise cash, gold, precious stones, balances with the State Bank of Vietnam, treasury notes, and other short-term valuable papers which can be discounted with the State Bank of Vietnam, due from and loans to other banks on demand or with an original maturity of less than three months from transaction date and securities investments with maturity of less than three months from purchase date that are readily convertible into certain amounts of cash and subject to insignificant risk of change in value.

Loans and advances to customers are presented at the principal amounts outstanding at the end of the financial year.

Loans classification

Loans and advances to customers are classified and provided for allowance in accordance with the Law on Credit Institutions No. 47/2010/QH12 effective from 1 January 2011; Decision No. 1627/2001/QD-NHNN dated 31 December 2001 issued by the State Bank of Vietnam on lending statutory; Decision No. 127/2005/QD-NHNN dated 3 February 2005 amending and supplementing Decision No. 1627/2001/QD-NHNN; Decision No. 493/2005/QD-NHNN dated 22 April 2005 and Decision No. 18/2007/QD-NHNN dated 25 April 2007 issued by the State Bank of Vietnam on loan classification, establishment and use of provision to resolve the credit risk in banking operations of credit institutions. Accordingly, loans are classified as Current, Special Mention, Substandard, Doubtful and Loss on the basis of payment arrears status and other qualitative factors.

The Bank has applied Decision No. 780/QD-NHNN issued by the State Bank of Vietnam on 23 April 2012 stipulating the loan classification for restructured loans and advances. Accordingly, credit institutions are permitted to keep the same group as prior to the restructuring or extension of loans and advances which have been rescheduled and extended for repayment based on the credit evaluation of the financial performance and the ability to repay the loans after restructuring or extension.

Restructure of loans: Credit institutions are permitted to restructure loans and keep the loan group unchanged as prior to the restructure provided that all requirements stipulated in Circular 09 are satisfied. This requirement will become expiry on 1 April 2015.

B05/TCTD-HN

ACCOUNTING STANDARDS AND SYSTEM (continued)

SIGNIFICANT ACCOUNTING POLICIES

Standards issued but not yet effective (continued)

Cash and cash equivalents


Provision for credit losses


4.3

4.4

1

2

3

4

5

Current

Special Mention

Substandard

Doubtful

Loss

0%

5%

20%

50%

100%

4.



B05/TCTD-HN

SIGNIFICANT ACCOUNTING POLICIES (continued)

Provision for credit losses (continued)

Loans sold to Vietnam Asset Management Company (“VAMC”)

Specific provision is created based on the net credit exposure for each individual customer using fixed provision rates as follows:

Loans sold to VAMC at carrying amount in accordance with Decree No. 53/2013/ND-CP effective from 9 July 2013 on “Establishment, structure and operations of VAMC”, Circular No. 19/2013/TT-NHNN on “Regulations on selling, purchasing and writing-off of bad debts of VAMC” and Official Letter No. 8499/NHNN-TCKT on “Accounting guidance on selling and purchasing of loan transactions between VAMC and credit institutions”. Accordingly, selling price equals to the outstanding loan balance minus (-) unused balance of specific provision and special bonds issued by VAMC shall be received. Upon the sale of loans, the Bank writes off loan balances and corresponding provisions and recognises special bonds issued by VAMC at par value determined as the difference between the loan balance sold and corresponding specific provision. When receiving loans previously sold to VAMC, the Bank uses annual specific provisions for special bonds to write off bad debts and recognises the difference between provision for credit losses and the remaining outstanding loan balance/bond value in “Other income” of the consolidated income statement.

Net credit exposure for each borrower is calculated by subtracting from the loan balance the discounted value of collaterals which is subject to certain accepted discount rates in accordance with Decision No. 493/2005/QD-NHNN and Decision No. 18/2007/QD-NHNN.

In accordance with Decision No. 493/2005/QD-NHNN, a general provision is made for loan losses which have not been identified yet during the process of loan classification and specific provision and for the credit institutions' potential financial difficulties due to deterioration in loan quality. As such, the Bank is required to fully create and maintain a general provision at 0.75% of total loans and advances to customers which are classified in groups 1 to 4.

The provision is recognised in the consolidated income statement as an expense and will be used to write off any loan losses incurred. According to Decision No. 493/2005/QD-NHNN, the Bank should establish the Bad Debt Resolution Committee to approve the writing-off of loans classified in Group 5 or of which corporate borrowers are bankrupted or liquidated or individual borrowers are deceased or missing.

Loans classified as Substandard, Doubtful and Loss are considered as non-performing loans.

Specific provision

General provision

Bad debt resolution

Group Category Specific provision rate


4.5

4.5.1

4.5.2

4.



Held-to-maturity securities

Available-for-sale securities

Special bonds issued by VAMC

Other held-to-maturity securities

Special bonds issued by VAMC are valuable papers issued by VAMC to purchase bad debts from the Bank which have specific terms. Special bonds are recognised at par value at the transaction date and continuously recorded at par value in subsequent periods. Par value of special bonds, which is corresponding to the bad debts sold, is the difference between the outstanding loan balance and unused balance of specific provision of loan.

Periodically, the Bank calculates and makes annual specific provision not less than 20% of the special bonds' par value. Specific provision for special bonds is recognised in “Other operating expenses” of the consolidated income statement. These special bonds are not required to make general provision.

Held-to-maturity securities include debt securities which are acquired by the Bank and its subsidiary for earning interest and which the Bank and its subsidiary have the intention and ability to hold to maturity. Held-to-maturity securities have fixed or determinable payments and maturity date. In case these securities are sold before maturity, they will be reclassified into available-for-sale securities.

Debt securities are initially recognised at face value at the purchase date. The accrued interest income (for debt securities with interest payment in arrears) and deferred interest income (for debt securities with interest payment in advance) are recognised in a separate account. Discount/premium which is the negative/positive difference between the cost and the amount being the face value plus (+) accrued interest income (if any) or minus (-) deferred interest income (if any) is also recognised in a separate account.

In subsequent periods, these securities are continuously stated at face value, and the discount/premium (if any) is amortised to the consolidated income statement on a straight-line basis over the estimated remaining term of securities. The interest received in arrears is recognized in the principle that: the accrued interest prior to the purchase date is recognised as a deduction in the value of such securities corresponding to accrued interest receivable and the accrued interest after the purchase date is recognised into the income of the Bank and subsidiary under the cumulative method. The interest received in advance is amortised to the interest income from investment securities on a straight-line basis over the term of securities investment.

Periodically, held-to-maturity investments are subject to review of impairment. Provision for a decline in value of securities is made when their carrying value is higher than market value in compliance with Circular No. 228/2009/TT-BTC dated 7 December 2009. In case that fair value or market prices of securities are not available or cannot be determined reliably, no provision is made. Provision for a decline in value is recognised into the consolidated income statement in “Net gain/(loss) from dealing of investment securities”.

Available-for-sale securities include debt and equity securities, which are held by the Bank and/or its subsidiary for the purpose of investment and available-for-sale, not regularly traded but can be sold when there is a benefit. For equity securities, the Bank and its subsidiary are also neither the founding shareholder nor the strategic partner and do not have the ability to make certain influence in establishing and making the financial and operating policies of the investees through a written agreement on assignment of its officers to the Board of Directors/Management.

B05/TCTD-HN



(i)

(ii)


4.5

4.6

4.7

4.5.2

4.7.1

4.



Available-for-sale equity securities are initially recognised at cost at the purchase date and continuously presented at cost in subsequent periods.

Available-for-sale debt securities are recognised similarly to other held-to-maturity securities (Note 4.5.1).

Periodically, available-for-sale investments are subject to review of impairment. Provision for a decline in value of securities is made when their carrying value is higher than market value in compliance with Circular No. 228/2009/TT-BTC dated 7 December 2009. In case that fair value or market prices of securities are not available or cannot be determined reliably, no provision is made. Provision for a decline in value is recognised into the consolidated income statement in “Net gain/(loss) from dealing of investment securities”.

Securities sold under agreements to repurchase at a specific date in the future (“repos”) are not derecognised from the consolidated balance sheet. The corresponding cash received is recognised in the consolidated balance sheet as a liability item. The difference between the sale price and repurchase price is treated as interest expense and is amortised on a straight-line basis at the contractual interest rate to the consolidated income statement over the term of the agreement.

Conversely, securities purchased under agreements to resell at a specific date in the future (“reverse repos”) are not recognised in the consolidated balance sheet. The corresponding cash paid is recognised in the consolidated balance sheet as an asset item. The difference between the purchase price and resale price is treated as interest income and is amortised on a straight-line basis at the contractual interest rate to the consolidated income statement over the term of the agreement.

An associate is an entity in which the Bank has significant influence and which is neither its subsidiary nor joint venture. Investments in associates are accounted for using the equity method.

The financial statements of the associates used for consolidation purpose under the equity method are prepared for the same accounting period as the Bank and the accounting policies are applied consistently with the Bank's accounting policies for similar transactions or events in the similar circumstances.

Under the equity method, investments in associates are initially recognised at cost and the carrying value of the investments which may increase or decrease reflects the Bank's share in net assets of the associates. The losses over the cost of investment in associate are recognised if they are the Bank's liabilities. The consolidated income statement reflects the Bank's share of the operating result of the associates. Where there has been a change recognised directly in the equity of the associates, the Bank recognises its share of such changes in the consolidated balance sheet.

B05/TCTD-HN


Investment securities (continued)

Repurchase and reverse repurchase agreements


Investments in associates

Available-for-sale securities (continued)


4.7

4.8

4.9

4.10

The Bank or its subsidiary as lessee

4.7.2

4.7.3

4.10.1

4.





Other long-term investments represent capital contributions and investments in other entities which the Bank and its subsidiary hold less than 20% voting rights and are the founder shareholder; or the strategic partner; or have ability to make certain influence (not significant influence) on preparing and making the financial and operating policies of the investees through a written agreement on assignment of its representatives to the Board of Directors/Board of Management.

Other long-term investments are initially recognised at cost at the purchase date and continuously presented at cost less provision for diminution in value of long-term investments in subsequent periods (if any).

Tangible fixed assets are stated at cost less accumulated depreciation.

Intangible fixed assets are stated at cost less accumulated amortisation.

The cost of an intangible fixed asset comprises of its purchase price and any directly attributable costs of bringing the intangible fixed asset to working condition for its intended use.

Expenditures for improvements and renewals are added to the carrying amount of the assets and other expenditures are charged to the consolidated income statement as incurred.

When intangible fixed assets are sold or retired, their costs and accumulated amortisation are removed from the consolidated balance sheet and any gain or loss resulting from their disposal is included in the consolidatedincome statement.

Lease payments of operating leasing contract are recognised into the consolidated income statement on a straight-line basis over the lease term.

The cost of a tangible fixed asset comprises of its purchase price and any directly attributable costs of bringing the tangible fixed asset to working condition for its intended use.

Expenditures for additions, improvements and renewals are added to the carrying amount of the assets, expenditures for maintenance and reparation are charged to the consolidated income statement as incurred.

When tangible fixed assets are sold or retired, their costs and accumulated depreciation are removed from the consolidated balance sheet and any gain or loss resulting from their disposal is included in the consolidated income statement.

Provision is made when the investees are operating at loss (unless losses are previously estimated in the initial business plan) in accordance with Circular No. 228/2009/TT-BTC issued by the Ministry of Finance on 7 December 2009 and Circular No. 89/2013/TT-BTC on 28 June 2013 amending Circular No. 228/2009/TT-BTC. Provision is calculated as the difference between the actual contributed capital of all parties in the investee and the actual owners' equity of the investee multiplying by (x) the proportion of capital contributed by the Bank to total actual capital contribution of all parties in the investee.

B05/TCTD-HN


Long-term investments (continued)

Tangible fixed assets


Lease


4.11

4.12

4.10.2

25 - 50 years

Provision rateOverdue period

Machines and equipment

Vehicles

Other tangible fixed assets

Office equipment

Buildings and structure

5 - 10 years

30%

6 - 10 years

50%

3 - 10 years

70%

5 - 10 years

100%

Computer software

From over six months up to one year

From one year up to two years

From two years up to three years

From three years and above

5 - 10 years

4.



B05/TCTD-HN


4.10

The Bank or its subsidiary as lessor

The Bank and its subsidiary record operating lease assets into consolidated financial statements. Income from operating lease is recognised on a straight-line basis over the term of the lease, independent from payment method. Operating lease expenses, including depreciation expense of leased assets, are recorded as expenses when incurred.

Depreciation and amortisation of tangible and intangible fixed assets are calculated on a straight-line basis over the estimated useful lives of the assets, as follows:

Receivables other than receivables from credit activities of the Bank are initially recognised at cost and continuously presented at cost in subsequent periods.

Provision for overdue receivables is made in accordance with Circular No. 228/2009/TT-BTC issued on 7 December 2009 by the Ministry of Finance. Accordingly, provision rates for overdue receivables are as follows:

Provision for doubtful debts is set up based on the aging schedule of overdue debts or expected losses which may occur in case where a debt has not been due for payment but an economic organisation is bankrupted or liquidated; or individual debtor is missing, run away, being prosecuted, under a trial or serving sentence or dead. Provision expense occurred will be recognised into “Other operating expenses” for the year.

The cost of the indefinite-term land use rights is not amortised.

Lease (continued)

Depreciation and amortisation

Receivables


4.13

4.14

4.15

4.16

Current corporate income tax4.16.1

4.



Prepaid expenses are reported as short-term or long-term prepaid expenses on the consolidated balance sheet and amortised over the period for which the amount are prepaid or the period in which economic benefits are generated in relation to these expenses.

Interest income and expense are recognised in the consolidated income statement on an accrual basis. The recognition of accrued interest income is suspended when a loan is classified in groups 2 to 5 in accordance with Decision No. 493/2005/QD-NHNN and Decision No.18/2007/QD-NHNN. Suspended interest income is reversed and monitored in the off-balance sheet items, and recognised in the consolidated income statement upon actual receipt.

Fees and commissions are recognised when the services are provided.

Income from securities investment is determined by the difference between the selling price and the cost of securities sold.

Dividend income on equity investment is recognised in the consolidated income statement when the Bank's and its subsidiary's right to receive the payment is established. For stock dividends and bonus shares, no dividend income is recognised. Instead, only the number of shares is updated.

Current corporate income tax assets and liabilities for the current and prior years are measured at the amount expected to be paid to or recovered from the taxation authorities. The tax rates and tax laws are applied and enacted at the consolidated balance sheet date.

Current corporate income tax is charged or credited to the consolidated income statement, except when it relates to items recognised directly to equity, in which case the current corporate income tax is also dealt with in equity.

Current corporate income tax assets and liabilities are offset when there is a legally enforceable right for the Bank and its subsidiary to set off current corporate income tax assets against current tax liabilities and when the Bank and its subsidiary intend to settle their current corporate income tax assets and liabilities on a net basis.

The Bank and its subsidiary's tax returns are subject to examination by the tax authorities. Due to the application of tax laws and regulations to many types of transactions is susceptible to varying interpretations, amounts reported in the consolidated financial statements could be changed at a later date upon final determination by the tax authorities.

The Bank and its subsidiary maintain their accounting system and records all transactions in original currencies. Monetary assets and liabilities denominated in foreign currencies at year-end are translated into VND using exchange rates ruling at the ending date of the financial year (see list of exchange rates of applicable foreigncurrencies against VND as at 31 December 2013 in Note 43). Income and expenses arising in foreign currencies during the year are converted into VND at rates ruling at the transaction dates. Unrealised foreign exchange differences arising from the revaluation of monetary assets and liabilities are recognised in “Foreign currency differences” in owners' equity and are transferred into the consolidated income statement at the end of the financial year.

B05/TCTD-HN


Prepaid expenses

Recognition of income and expense

Foreign currency transactions



4.16

4.17

4.18

4.19

Deferred corporate income tax4.16.2

4.



Deferred corporate income tax is provided for temporary differences between the tax base of assets and liabilities and their carrying amount for financial reporting purpose at the consolidated balance sheet date.

Deferred corporate income tax liabilities are recognised for all taxable temporary differences.

Deferred corporate income tax assets are recognised for all deductible temporary differences, carried forward unused tax credit and unused tax losses, to the extent that it is probable that future taxable profit will be available against which deductible temporary differences, carried forward unused tax credit and unused tax losses can be utilised.

Deferred corporate income tax assets and liabilities are measured at the tax rates that are expected to apply in the financial year when the asset is realised or the liability is settled based on tax rates and tax laws that have been enacted at the consolidated balance sheet date.

Deferred corporate income tax is charged or credited to the consolidated income statement, except when it relates to items recognised directly to equity, in which case the deferred corporate income tax is also dealt with in the equity account.

Assets held in a fiduciary capacity are not reported in the consolidated financial statements as they are not owned by the Bank and its subsidiary.

Forward and swap foreign currency contracts

Option foreign currency contractsOption foreign currency contracts are monitored in the off-balance-sheet items. The difference between spot rate and expected rate is recognised at each time of revaluation as an asset item - “Interest receivables from option transactions” if it is positive or a liability item - “Interest payables from optiontransactions” if it is negative.

For forward and swap contracts, the difference between VND equivalent of a foreign currency which the Bank is committed to buy/sell translated at contractual exchange rate and spot rate at the effective date of the contract is recorded right at the effective date of the contract as an asset item – “Derivatives and other financial assets” if it is positive or as a liability item – “Derivatives and other financial liabilities” if it is negative. This difference will then be allocated to “Net gain/(loss) from foreign currencies and gold trading” on a straight-line basis over the contract term. At the consolidated balance sheet date, commitments under forward contracts are revaluated at the Bank's spot exchange rate as at that date. Gain/loss arising from revaluation is recognised in the consolidated balance sheet and transferred into the consolidated income statement at the end of financial year.

According to Decision No. 493/2005/QD-NHNN and Decision No. 18/2007/QD-NHNN issued by the State Bank of Vietnam, credit institutions are required to classify and make provision for guarantees, acceptances for payment and irrevocable and unconditional loan commitments with specific effective date (generally called “Off-balance-sheet commitments”) into groups as stated in Article 6 of Decision No. 493/2005/QD-NHNN. Accordingly, off-balance sheet commitments are classified into groups such as Current, Special Mention, Substandard, Doubtful and Loss based on the overdue status and other qualitative factors.

Provision for off-balance-sheet commitments is calculated similarly to the provision for loans and advances to customers as described in Note 4.3. Provision expense is recorded as “Provision for contingent liabilities and off-balance sheet commitments” in the consolidated income statement and provision balance is recorded as other liabilities in the consolidated balance sheet.

B05/TCTD-HN


Corporate income tax (continued)

Fiduciary assets

Provision for off-balance-sheet commitments

Derivatives


4.20

4.21

4.22

4.23

Unemployment insurance

4.22.1

4.22.2

4.22.3

4.



Payables and accruals are recognised for amounts to be paid in the future for goods and services received, whetheror not billed to the Bank and its subsidiary.

The Bank and its subsidiary's employees, who reach to their retirement age, are entitled to an allowance equivalent to the aggregate amount of three months' current wages (taken from pension fund).

Voluntary resignation benefits: The Bank and its subsidiary have the obligation, under the Vietnam Labour Code, to pay allowance arising from voluntarily resignation of employees, equal to one-half month's salary plus salary allowances (if any) for each year of employment until 31 December 2008. Since 1 January 2009, the average monthly salary used in this calculation will be the average monthly salary of the latest six-month period up to the resignation date.

Retrenchment benefits: The Bank and its subsidiary have the obligation, under the Vietnam Labour Code, to pay allowance to employees who are retrenched as a result of the organisational restructuring or technological changes. In such case, the Bank and its subsidiary will pay to employees an allowance for loss of work equivalent to the aggregate amount of one month's salary for each year of employment, but no less than two months' salary.

According to Circular No. 04/2009/TT-BLDTBXH guiding the detailed implementation of Decree No. 127/2008/ND-CP on unemployment insurance, the Bank and its subsidiary are obliged to pay unemployment insurance at 1% of their salary fund used to pay for unemployment insurance and simultaneously deduct 1% of salary of each employee to pay to the Unemployment Insurance Fund from 1 January 2009.

Items or balances required by the Decision No.16/2007/QD-NHNN dated 18 April 2007 issued by the State Bank of Vietnam on promulgation of financial statement reporting for credit institutions that are not shown in these financial statements indicated nil balances.

Post employment benefits are paid to retired employees of the Bank and its subsidiary by the Social Insurance Agency, which belongs to the Ministry of Labour, War Invalids and Social Affairs. The Bank and its subsidiary are required to contribute to these post employment benefits by paying social insurance premium to the Social Insurance Agency at the rate of 17% of an employee's basic salary on a monthly basis. The Bank and its subsidiary have no further obligation to fund the post employment benefits of its employees, other than the liability to pay Social Insurance Agency on a monthly basis.

Post employment benefits

Voluntary resignation and retrenchment benefits

Financial assets and financial liabilities are offset and reported at the net amount in the consolidated balance sheet if, and only if, the Bank and its subsidiary have an enforceable legal right to offset financial assets against financial liabilities and the Bank and its subsidiary have intention to settle on a net basis, or the realisation of the assets and settlement of liabilities is made simultaneously.

B05/TCTD-HN


Offsetting

Payables and accruals

Employee benefits

Nil balances


579,541

826,942

73,740

1,480,223

558,690

787,028

11,864,113

13,209,831

In foreign currencies

In VND 1,082,989

1,175,827

2,258,816

1,493,971

775,053

2,269,024

31 December 2013 31 December 2012

VND million VND million

5.

6.



Balances with the State Bank of Vietnam (SBV) include settlement and compulsory deposits. In 2013, compulsory deposits in VND and settlement deposits in foreign currencies earned interest at rates of 1.20% p.a and 0.05% p.a, respectively.

The compulsory deposit rates required by the SBV as at 31 December 2013 were as follows:

In 2013, the Bank has complied with the SBV's requirements regarding the calculation and maintenance of the compulsory deposits with the SBV.

- Reserves are computed for customer demand deposits and term deposits with maturity less than 12 months in VND and in foreign currencies at 3.00% and 8.00%, respectively.

- Reserves are computed for term deposits with maturity above 12 months in VND and in foreign currencies at 1.00% and 6.00%, respectively.

Cash on hand in VND

Cash on hand in foreign currencies

Gold

B05/TCTD-HN

CASH, GOLD AND PRECIOUS STONES

BALANCES WITH THE STATE BANK OF VIETNAM




30,316,278

27,558,220

57,874,498



Demand deposits with other banks

Term deposits with other banks

36,342,449

21,172,582

57,515,031



Loans to other banks in VND

Loans to other banks in foreign currencies

In VND

In VND

40,623

19,645,720

22,061,560

1,715,295

7,912,500

6,498,800

30,316,278

27,558,220

144,467

16,234,078

27,780,100

2,168,343

4,938,504

6,249,539

36,342,449

21,172,582

7.

7.1

7.2





B05/TCTD-HN

DUE FROM AND LOANS TO OTHER BANKS








Assets Liabilities

Swap

Swap

Total

Total

Loans to local economic entities and individuals

Loans for discounted commercial notes and valuable papers

Payments made on behalf of customers

Debts awaiting resolution

Forward

Forward

At 31 December 2013

At 31 December 2012

Net value

Net value

11,847,527

7,066,341

4,697,206

2,556,631

16,544,733

9,622,972

11,427

-

7,674

11,427

7,674

7,190

(87,679)

-

-

-

(4,237)

(95,353)

(4,237)

(95,353)

8.

352,441

82,826,530 74,602,898

261

175,000

83,354,232

319,391

-

-

74,922,289

9.



Nominal amount (using the exchange rate at

the effective date)

VND million

Carrying value (using the exchange rate at the balance sheet date)


B05/TCTD-HN

DERIVATIVES AND OTHERS FINANCIAL INSTRUMENTS

LOANS AND ADVANCES TO CUSTOMERS




9.

Current

Special mention

Substandard

Doubtful

Loss

80,425,622

1,276,404

269,456

308,948

1,073,802

83,354,232

71,911,475

2,023,190

49,932

144,889

792,803

74,922,289Analysis of loans by original term

Analysis of loans by type of customer and ownership

Corporate loans

Loans to individuals

Short-term loans

Medium-term loans

Long-term loans

55,202,822

9,644,806 18,506,604

83,354,232

51,036,141

7,873,283 16,012,865

74,922,289

9.1

9.2

State-owned enterprises

State-owned limited companies

Private limited companies

Other joint-stock companies

Private companies

State-owned joint-stock companies

Foreign invested enterprises

Co-operatives

Partnership companies

Others

23,389,078

16,123,202

7,749,131

2,800,042

1,983,981

1,694,755

460,586

127,886

-

7,419

54,336,080 29,018,152

83,354,232

20,510,200

13,406,186

5,018,702

3,056,257

2,564,504

2,606,104

1,131,818

140,254

564

19,543

48,454,13226,468,157

74,922,289

28.07

19.34

9.30

3.36

2.38

2.03

0.55

0.15

-

0.01

65.1934.81

100.00

27.38

17.89

6.70

4.08

3.42

3.48

1.51

0.19

0.00

0.03

64.6835.32

100.00

9.3



Analysis of loans by quality

B05/TCTD-HN

LOANS AND ADVANCES TO CUSTOMERS (continued)





% %




9.

24,197,467

19,721,610

9,791,279

7,451,411

6,750,335

6,472,345

3,582,877

610,236

1,562,319

474,310

766,405

385,694

745,079

59,838

739,903

43,124

Trading

Manufacturing and processing

Agriculture, forestry and aquaculture

Individuals and public activities

Construction

Electricity, gas and water supply/distribution

Financial services

Hotel and restaurant

Mining exploration

Transportation, warehousing and communication

Asset trading activities and consultancy services

Education and training

Health care and social relief activities

Science and technology

Sport and cultural activities

29.03

23.66

11.75

8.94

8.10

7.76

4.30

0.73

1.87

0.57

0.92

0.46

0.89

0.08

0.89

0.05

22,192,649

16,934,518

8,007,819

7,262,774

5,812,424

6,594,633

2,456,374

632,591

1,636,181

254,408

923,970

404,184

814,585

41,420

900,395

53,364

29.63

22.60

10.69

9.69

7.76

8.80

3.28

0.84

2.18

0.34

1.23

0.54

1.09

0.06

1.20

0.07

9.4

83,354,232 74,922,289100.00 100.00

710,958 56,444

767,402

606,33743,020

649,357

10.


Analysis of loans by economic sector


The Bank conducts loan classification according to Article 6 of Decision No. 493/2005/QD-NHNN, Decision No. 18/2007/QD-NHNN and Decision No. 780/QD-NHNN. Accordingly, the balance of loan loss provision presented on the consolidated balance sheet at year-end was made based on the classification of outstanding loan balances and off balance sheet as at 30 November.

Details of provision for credit losses on the consolidated balance sheet at year-end are summarised below:


Provision for contingent liabilities and off-balance-sheet commitments

Operation of international organisations or parties

B05/TCTD-HN

LOANS AND ADVANCES TO CUSTOMERS (continued)

PROVISION FOR CREDIT LOSSES

% %






10.

Provision used to write off loans in December

Foreign exchange differences

Ending balance

Beginning balance

Provision charged in the period

Provision used for debts sold to VAMC in the period

Provision used to write off loans in the period

Balance as at 30 November 2013

Provision charged in December

Provision used for debts sold to VAMC in December

125,682

111,266

(7,483)(49,512)

VND million VND million VND million

179,953

(1,231) (1,231)

(123,683) (123,683)

114,781 710,958

480,655

115,522

--

596,177 -

-

-

-

596,177

606,337

226,788

(7,483)(49,512)

776,130

60,05760,057

(315)(315)

10.1

.




During the year, the Bank has sold bad debts to VAMC amounting to VND932,948 million, used the corresponding balance of provision for credit losses amounting to VND8,714 million and received special bonds issued by VAMC amounting to VND924,234 million (Note 11).

Changes in the provision for loan losses in 2012 are summarised below:

Changes in the provision for loan losses in 2013 are summarised below:

Specificprovision

Generalprovision Total

128,380

259,504

-(153,277)

VND millionVND millionVND million

234,607

125,682 606,337

490,432

-

(9,777)-

480,655-

-

480,655

618,812

259,504

(9,777)(153,277)

715,262(109,275) (109,275)

350350

.

Beginning balance

Provision charged in the period

Reversal of provision in the periodProvision used to write off loans in the period

Balance as at 30 November

Provision used to write off loans in December

Foreign exchange differences

Ending balance

Specificprovision


B05/TCTD-HN

PROVISION FOR CREDIT LOSSES (continued)


Current

Special Mention

Substandard

Doubtful

Loss

77,613,219

1,226,034

326,447

324,564

981,905

80,472,169

-

20,410

27,923

33,909

97,711

179,953

582,099

9,195

2,449

2,434

-

596,177

582,099

29,605

30,372

36,343

97,711

776,130

130

140

2,407

-

(5)

(10)

2,532

130

42,890

53,300

27,589

-

(16,567)

(10,410)

53,912

42,890

43,020

53,440

29,996

-

(16,572)

(10,420)

56,444

43,020

10.2

10.

10.1


Provision for loan losses (continued)

Provision for contingent liabilities and off-balance-sheet commitments


The breakdown of loan classification and provision for loan losses as at 30 November 2013 is as follows:

Changes in the provision for contingent liabilities and off-balance sheet commitments in 2013 are summarised below:

Changes in the provision for contingent liabilities and off-balance sheet commitments in 2012 are summarised below:

Beginning balance

Provision charged in the yearReversal of provision in the year

Balance as at 30 November 2013 and 31 December 2013

Beginning balance

Provision charged in the year

Reversal of provision in the year

Balance as at 30 November 2012 and 31 December 2012

B05/TCTD-HN


VND million VND million VND million VND million

BalanceSpecific

provisionGeneral

provision Total


Specificprovision



Specificprovision



11.

10.2

Current

Special Mention

Loss

7,187,542

625

2,668

7,190,835

-

25

2,507

2,532

53,907

5 -

53,912

53,907

30

2,507

56,444

1,002,068

1,000,076

7221,270

-

13,652,949

1,953,715

6,600,000

4,175,000

924,234

-

14,655,017

Debt securities issued by the Government (a)

Debt securities issued by other local credit institutions (b)

Debt securities issued by local economic entities (c)

Special bonds issued by VAMC (d)


Treasury bills issued by the State Bank of Vietnam

Equity securities issued by other local credit institutionsEquity securities issued by local economic entities

Debt securities

Equity securities

1,002,192

1,000,000

7221,470

-

10,749,844

1,289,675

6,600,000

2,860,169 -

-

11,752,036

31 December 2013

VND million

31 December 2012

VND million

10.



B05/TCTD-HN


INVESTMENT SECURITIES

Provision for contingent liabilities and off-balance-sheet commitments (continued)

The breakdown of provision for contingent liabilities and off-balance sheet commitments as at 30 November 2013 is as follows:

The Bank has fully made specific and general provision as stipulated by the State Bank of Vietnam as at 31 December 2013.

Provision for decline in value of available-for-sale investment securities

Provision for decline in value of held-to-maturity investment securities


Debt securities


BalanceSpecific

provisionGeneral

provision Total


11.

(a) Debt securities issued by the Government include:

(b) Debt securities issued by other local credit institutions include:

(d) Special bonds issued by VAMC in order to purchase bad debts from the Bank within the year (Note 10.1). These bonds have term of 5 years and bear interest at 0% p.a.

Listing status of investment securities is as follows:

Debt securities issued by local economic entities include bonds issued by local economic entities which have term from 2 to 10 years and bear interest at rates ranging from 8.90% to 14.00% p.a. Interest is paid quarterly, semi-annually, annually or at maturity date.

- Government bonds have term from 2 to 3 years and bear interest at rates from 7.30% to 11.59% p.a. Interest is paid annually.

- Municipal bonds have term of 10 years and bear interest at rate of 7.90% p.a. Interest is paid annually.

- Local government bonds have term of 3 years and bear interest at rate of 10.70% p.a. Interest is paid annually.

- Bonds issued by other local credit institutions have term from 2 to 10 years and bear interest at rates ranging from 9.88% to 12.50% p.a. Interest is paid annually.

- Bills and Certificates of deposits issued by other local credit institutions have term from 10 to 12 months and bear interest at rates ranging from 7.50% to 8.00% p.a. Interest is paid at maturity date.

1,000,076

722

1,270

1,953,715

6,600,000

5,099,234

14,655,017

Government securities

Equity securities issued by local economic entities

Equity securities issued by other local credit institutions

- Listed

- Non-listed

- Non-listed

- Listed

- Non-listed

- Non-listed

Debt securities

Equity securities

Debt securities



Government securities

Debt securities issued by other local credit institutions

Debt securities issued by local economic entities

1,000,000

722

1,470

1,289,675

6,600,000

2,860,169

11,752,036

31 December 2013


31 December 2012



B05/TCTD-HN

INVESTMENT SECURITIES (continued)


12.

Balance at 31 December 2012

Balance at 31 December 2013

Investments in associates

Total

Decrease in the year

Breakdown of investments in associates as at 31 December is as follows:

The net carrying value of investments in associates is recognised under the equity method.

97,351

99,912

2,561

-

-

99,912

2,356,030

2,036,030

-

(320,000)

(123,065)

1,912,965

2,453,381

2,135,942

2,561

(320,000)

(123,065)

2,012,877




% %

45,900Eximland Corporation

66,474

112,374

49,616

50,296

99,912

10.99

10.86

45,900

66,474

112,374

1,912,965

47,222

50,129

97,351

2,291,505

10.99

10.86

12.1

12.2

-

52,483

(123,065)2,036,030

1,672,663

363,367

310,884

1,672,663

-

52,483

(64,525)2,356,030

1,672,663

683,367

630,884

1,672,663

Book value Book value

Breakdown of other long-term investments as at 31 December is as follows:



Share of net profit of the associates under equity method

Provision for diminution in value of long-term investments

B05/TCTD-HN

LONG-TERM INVESTMENTSInvestments in

associates

Net carryingvalue

Viet Dragon Securities Corporation

Net carryingvalue


Total


Cost CostOwnership Ownership



Investments in other local credit institutions


Investments in other local economic entities

- Listed

- Listed

- Non-listed

- Non-listed


12.

13.

Other long-term investments (continued)

Tangible fixed assets

123,065 64,525

12.2

13.1

62,170

(3,630)

64,525

36,384

(55,501)

83,642

2013 2012

Depreciation charge

Transferred to deferred expenses

Disposal

Ending balance

Beginning balance

Ending balance

Beginning balance

Cost

Accumulated depreciation

Beginning balance

Transferred to deferred expenses

Disposal

Ending balance

Net book value

128,868

143,682

(81)

(28,968)

243,501

16,995

2,174

(4)

(7,014)12,151

111,873

231,350

596,273

9,370

(122.,95)

(4,306)

479,042

247,889

54,644

(63,509)

(4,227)234,797

348,384

244,245

211,788

3,131

(589)

(7,207)

207,123

70,760

38,819

(2,545)

(516)106,518

141,028

100,605

52,974

1,395

(12,054)

(163)

42,152

28,297

10,790

(13,366)

(37) 25,684

24,677

16,468

401,725

81,411

(1,619)

481,507

169,380

64,099

(8,022)

-

225,457

232,345

256,050

1,391,628

238,989

(136,638)

(40,654)

1,453,325

533,321

170,526

(87,446)

(11,794)604,607

858,307

848,718

(10)

Increase/decrease in provision for in value of long-term investments during the year is as follows:diminution

Beginning balance

Increase/(decrease) during the year

Ending balance

Changes in tangible fixed assets in the current year are as follows:

- Provision charged

- Reversal of provision



Transferred from completed constructions and purchases of fixed assets

B05/TCTD-HN

LONG-TERM INVESTMENTS (continued)

FIXED ASSETS


VND million VND million VND million VND million VND million VND million

Buildings & Structure

Machines & equipment Vehicles Total

Office equipment

Other tangible fixed assets


13.

14.

13.1

Net book value

Beginning balance

Ending balance

Receivables (Note 14.1)

Interest and fee receivables

Other assets (Note 14.2)

Addition

Disposal

Ending balance

Cost

Beginning balance

Amortisation charge

Beginning balance

Accumulated amortisation

Ending balance

2,392,809

-

1,083,092

-

(61,373)

3,414,528

-

120,871

57,260

7,229

13,425

63,6112,392,8093,414,528

-

128,100

70,685

57,415

2,513,680

57,260

1,090,321

13,425

2,456,420

(61,373)

3,542,628

70,685

3,471,943

13.2

212,743

4,582,904

1,911,7432,458,418

139,750

5,390,553

2,650,444

2,600,359



According to Circular No. 45/2013/TT-BTC issued by the Ministry of Finance on 25 April 2013, the Bank and its subsidiary have transferred the net book value of all assets which do not meet the criteria of cost for fixed assets (under VND30 million) to deferred costs which are amortised to operating expenses for the maximum period of three years.

Cost of tangible fixed assets which have been fully depreciated but are still in use as at 31 December 2013 amounted to VND80,675 million (31 December 2012: VND56,804 million).

Cost of intangible fixed assets which have been fully amortised but are still in use as at 31 December 2013 amounted to VND33,712 million (31 December 2012: VND11,695 million).

Changes in intangible fixed assets in the current year are as follows:

B05/TCTD-HN

Tangible fixed assets (continued)


FIXED ASSETS (continued)

OTHER ASSETS



VND million

Indefinite-termland use rights Computer software


Total


14.

246,169

38,451

8,084

356,761

17,603

2,458,418

212,743

261,320

51,806

15,524

23,208

5,308

195,140

1,341,720

52,035

16,850

35,317

5,865

Prepaid and deferred expenses

Materials and tools

58,850

40,113

15,667

540,432

14,878

2,600,359

139,750

353,434

60,008

15,394

23,096

79,127

124,872

1,367,673

-

40,700

-

5,865

14.1

14.2


Receivables

Other assets


(a) This represents advances for purchase of fixed assets as land use rights and their attached assets acquired by the Bank during the year but their ownerships have not yet been transferred to the Bank.

(b) The balance as at 31 December 2013 reflects the remaining receivable related to the investment disposal contract of the Bank and will be paid within 5 years.

Prepaid and deferred expenses mainly represent rental, prepaid interest and deferred expense of the assets which are not qualified as fixed asset in accordance to Circular No. 45/2013/TT-BTC. These prepaid and deferred expenses are amortised from 1 to 60 months.

Advance for purchase of fixed assets (a)

Receivable from investment disposal (b)

Constructions in progress

Advance to SBV for gold purchasing

Advances for operating activities

Receivables from subsidised-interest lendingReceivables from State Budget (Note 20)

Card receivablesReceivable from transferring of land use rights

Margin deposit for house renting and other activities

Deductible input VATDividend receivable

Deposit for trading of gold account

Other receivables

B05/TCTD-HN

OTHER ASSETS (continued)

VND million

VND million

VND million

VND million

31 December 2013

31 December 2013

31 December 2012

31 December 2012


15.

16.

415,924

30,209,290

520,371

9,739,760

12,109,290

426,801

65,766,554

35,557,264

30,209,290

10,877

35,557,264

52,133

25,245,000

18,100,000

-

25,492,642

7,257

6,246,000

15,047,642

15,025

58,046,426

32,553,784

25,492,642

15,025

32,553,784

200,527

26,100,000

10,445,000

16.1

16.2



Current loan

Due to other banks

Borrowings from the State Bank of Vietnam

Due to other banks


In VND


In VNDIn foreign currencies

Borrowings from other banks in VND

Borrowings from other banks in foreign currencies

Demand deposits

Term deposits

Loans secured by valuable papers


B05/TCTD-HN

BORROWINGS FROM THE GOVERNMENT AND THE STATE BANK OF VIETNAM

DUE TO AND BORROWINGS FROM OTHER BANKS

VND million

VND million

VND million

VND million

VND million

VND million

VND million

VND million

31 December 2013

31 December 2013

31 December 2013

31 December 2013

31 December 2012

31 December 2012

31 December 2012

31 December 2012


17.

17.1

17.2

2,397,772

17,965,754

1,310,214

21,128

51,686,938671,365

10,926,834

915,920

44,837

79,472,411

79,472,411

7,013,466

5,328,282

20,090,732

76,612

3,820,072

27,114,108

36,356,165

305,286

13,445

Deposits by individuals

State-owned enterprises

Private enterprises and others

Foreign invested enterprises

Margin deposits

Deposits for specific purposes

Analysis by type of customers and ownership

Deposits by economic entities

Deposits by others

1,885,418

12,710,907

1,226,556

17,057

49,726,747554,585

8,181,882

208,727

22,152

70,458,310

70,458,310

5,441,874

5,026,704

14,603,058

53,410

2,439,367

20,176,978

38,484,227

326,310

7,639


Analysis by products

Demand deposits

Term deposits


Demand deposits in VND

Term deposits in VND

Demand deposits in foreign currencies

Term deposits in foreign currencies

Demand saving deposits in VND

Term saving deposits in VND

Margin deposits in VND

Deposits for specific purposes in VND

Demand saving deposits in foreign currencies

Term saving deposits in foreign currencies

Margin deposits in foreign currencies

Deposits for specific purposes in foreign currencies

B05/TCTD-HN

CUSTOMER DEPOSITS

VND million

VND million

VND million

VND million

31 December 2013

31 December 2013

31 December 2012

31 December 2012


18.

19.

139

3,956

7,677,744

287,500

3,177,605

3,077

1,500,000

120,99129,60823,49418,00417,830

1,8501,093

---

67,597

3,000,000

7,033

280,467

Internal payables

External payables

Payables in loan resolution activities

Payable to the SBV on interest subsidy lending

Remittance payables

Tax payables (Note 20)

Card payables

Dividend payable (Notes 21.3)

Deferred income

Gold pledged by other bank

Collections on behalf of customers and awaiting settlement

Deposit for contract performance Other payables

Payables to employees

Other internal payables

8,583

4,583

11,880,355

11,663,112

5,870,236

2,624

3,000,000

116,93229,60847,183

130,95127,049

3,31212,992

1,805,3049,313,183

147,09322,298

3,001,536

7,207

11,655,905



Certificates of deposit

Bills

Under 12 months

From 12 months to 5 years

5 years and above

Under 12 months

B05/TCTD-HN

VALUABLE PAPERS ISSUED

OTHER PAYABLES

VND million

VND million

VND million

VND million

31 December 2013

31 December 2013

31 December 2012

31 December 2012


20.


Value added tax

Personal income tax

Foreign contract withholding tax

Other taxes

Movements during the year

57,503

44,547

28,901

- -

130,951

56,917

169,162

139,930

13,1524,327

383,488

109,046

248,888

156,339

13,1524,327

531,752

5,374 -

138 (35,317)

12,492 -

- - - -

18,004 (35,317)


Current corporate income tax (“CIT”)


The Bank and its subsidiary's tax returns are subject to examination by the tax authorities and are declared and finalised separately. Because the application of tax laws and regulations to many types of transactions is susceptible to varying interpretations, amounts reported in the consolidated financial statements could be changed at a later date upon final determination by the tax authorities.

The current CIT payables are determined based on taxable income of the current year. Taxable income differs from profit as reported in the consolidated income statement since it excludes taxable income or deductible expenses in prior years due to the differences between the Bank and its subsidiary's accounting policies and the current income tax policies, and also excludes non-taxable income or non-deductible expenses. The current CIT payables of the Bank and its subsidiary are calculated based on the statutory tax rates applicable at the consolidated balance sheet date.

B05/TCTD-HN

OBLIGATIONS TO THE STATE BUDGET

VND million VND millionPaid

Ending receivable

VND million

Ending payable

VND million

Beginning balance

VND millionPayable


20.

820,461

(3,319)

(2,561)

-

827,868

(159,322)

14,232

1,528

In which:

Adjust:

- Profit of the Bank

- Profit of the subsidiary

- Tax-exempt dividend income

- Income from reversal of VAT arrears in prior years

- Expenses not related to taxable income

- CIT expense of the Bank

- CIT expense of the subsidiary

- Additional tax payment for prior year

Profit before tax

Estimated taxable profit for the year

Total estimated CIT expense for the year

CIT (receivable)/payable at the end of the year

CIT payable at the beginning of the year

CIT paid during the year

In which:

CIT (receivable)/payable of the Bank

CIT payable of the subsidiary

Net off with advances to State Budget in previous years

2,828,257

(20,100)

565

(5,311)

2,850,997

(7,922)

21,214

5,500

676,898

168,843

-

319

169,162

(35,179)

44,547

(248,888)

(35,317)

-

138

2,839,443

708,486

2,481

1,375

712,342

44,547

344,060

(956,138)

43,621

(55,717)

926



- Reversal of provision for investments in associates for consolidation purpose

- Share of net (profit)/loss of the associates under the equity method

Provision for current CIT expense in the year is estimated as follows:

B05/TCTD-HN

OBLIGATIONS TO THE STATE BUDGET (continued)

Current corporate income tax (“CIT”) (continued)


2013 2012


12,355,229

-

-

-

-

-

-

12,355,229

15,396

-

-

-

-

-

-

15,396

156,322

-

-

-

-

-

-

156,322

1,391,274

-

158,694

97,924

20,000

(142,638)

-

1,525,254

1,893,984

658,706

(158,694)

(97,924)

-

-

(1,667,956)

628,116

15,812,205

658,706

-

-

20,000

(142,638)

(1,667,956)

14,680,317

21.

21.1


Value Ownership OwnershipValue

%


%

185,329,207

101,245,131

62,062,517

886,886,049

1,235,522,904

1,853,292

1,012,451

620,625

8,868,861

12,355,229

15.00

8.20

5.02

71.78

100.00

185,329,207

101,245,131

62,062,517

886,886,049

1,235,522,904

1,853,292

1,012,451

620,625

8,868,861

12,355,229

15.00

8.20

5.02

71.78

100.00


Statement of changes in owners' equity

Beginning balance

Ending balance


Net profit for the year

Additional reserves made for prior year

Additional reserves made for current year

Dividend paid for prior year (Note 21.3)

Sumitomo Mitsui Banking Corporation

VOF Investment Limited

Other shareholders

Joint Stock Commercial Bank for Foreign Trade of Vietnam

Number of shares

Number of shares

Reversal of reserves

Reserves used in the year

Details of the Bank's shareholders are as below:

Charter capital Fund for capital expenditure

Share premium ReservesRetained earnings Total

VND million VND million VND million VND million VND million VND million

Changes in owners' equity of the Bank during the year are as follows:

B05/TCTD-HN

CAPITAL AND RESERVES


1,235,522,904

1,235,522,904

1,235,522,904

-

-

-

-

-

1,235,522,904

1,235,522,904

1,235,522,904

1,235,522,904

1,235,522,904

-

-

-

-

-

1,235,522,904

1,235,522,904

31 December 2012

Unit

31 December 2013

Unit

Basic for calculation Maximum balance

5% of profit after tax

Not defined

25% of charter capital

100% of charter capital

21.2

21.

21.1


Statement of changes in owners' equity (continued)

Statutory reserves

Supplementary capital reserve

Financial reserve 10% of profit after tax

Other reserves


Details of the Bank's shares are as follows:

Number of authorised shares

Number of issued shares

Ordinary shares

Ordinary shares

Ordinary shares

Preference shares

Preference shares

Preference shares

Number of treasury shares

Number of outstanding shares

According to Decree No. 57/2012/ND-CP effective from 20 July 2012 and the Bank's Charter, the Bank is required to make the following statutory reserves based on the percentage of profit after tax as follows:

In 2013, the Bank has temporarily created the supplementary capital reserve and financial reserve as regulated. The final appropriation to reserves will be approved at the Annual General Meeting of Shareholders.

Eximbank Asset Management Company has temporarily created its statutory reserves from its profit after tax in conforming with the rates of reserves applied for the Bank.

Subject to resolution of the Annual General Meeting of Shareholders

B05/TCTD-HN

CAPITAL AND RESERVES (continued)


22.

21.2 Statutory reserves (continued)

Dividends21.3

Reversal of reserves

Beginning balance

Ending balance

Reserves used in the year

Dividends payable at the beginning of the year

Dividends declared in the year

Dividends paid in the year

Dividends payable at the end of the year

Dividends on ordinary shares

VND million VND million VND million VND million VND million

326

-

-

-

-

326

908,345

10,694

65,283

-

-

984,322

478,933

-

32,641

-

-

511,574

3,670

148,000

-

20,000

(142,638)

29,032

1,391,274

158,694

97,924

20,000

(142,638)

1,525,254

988,418

679,538

1,667,956

3,312

1,729,733

654,827

2,384,560

-

20122013

(1,669,418)

1,850(2,381,248)

3,312

2013 2012

658,706

1,235,522,904

533

2,138,655

1,235,522,904

1,731

21.



Changes in reserves of the Bank and its subsidiary during the year are as follows:

Additional reserves made for prior yearAdditional reserves made for current year

First dividend payment for 2012: VND800/share (2011: VND1,400/share)

Basic earnings per share are calculated by dividing net profit after tax for the year attributable to ordinary of the Bank by the weighted average number of ordinary outstanding during the year. Details of basic earnings per share of the Bank are as follows:

shareholdersshareholders

Second dividend payment for 2012: VND550/share (2011: VND530/share)

Net profit attributable to ordinary shareholders (VND million)

Weighted average number of outstanding ordinary shares (share)

Basic earnings per share (VND/share)

Investment and development

reserveFinancial reserve

Supplementary capital reserve

Bonus and welfare fund

Total

B05/TCTD-HN

CAPITAL AND RESERVES (continued)

BASIC EARNINGS PER SHARE



24.

25.

1,298,092

6,279,735

301,761

(125,966)

Income from guarantee services

Expenses from postal and communication

Interest income from investments in debt securitiesOther income from credit activities

Income from treasury services

Expenses from transport of cash

Interest income from deposits

Interest income from loans and advances to customers

Income from settlement services

Expenses from settlement services

Fees and commission income

Fees and commission expenses

Net fees and commission income

Interest expenses on deposits

Interest expenses on borrowings

Interest expenses on valuable papers Other expenses from credit activities

4,900,006

9,693,607

257,089

(105,483)


2013 2012


2013 2012


2013 2012

9,054

16,351

27

(3,668)

23,228

(13,813)

275,187

1,230,423

547,852

27,637

(8,539)

8,364,659

1,321,946

106,692

(32,172)

10,902,228

8,165,884

459,345

(184,158)

Other income

Other expenses

Income from advisory services

Expenses from brokerage services

137,339

14,355

9

(228)

17,496

(22,434)

242,775

2,597,626

1,987,273

21,811

(8,659)

9,296,902

335,179

114,361

(31,187)

16,931,873

12,030,414

410,766

(167,991)

23.



B05/TCTD-HN

INTEREST AND SIMILAR INCOME

INTEREST AND SIMILAR EXPENSES

NET FEES AND COMMISSION INCOME


Reversal of provision for decline in value of investment securities

Net loss from dealing of investment securities

Expenses from dealing of investment securities

203,434

(403,643)

478,618

-

(635,890)

1,189,227

(3,189)

(945,323)

1,871,279

(3,189)

(1,984,856)

(113,577)

787,994

(703,812)

833,945

-

(1,622,999)

1,052,301

(2,659)

(644,803)

2,674,240

(2,659)

(2,971,614)

(297,347)

26.

27.



B05/TCTD-HN

NET LOSS FROM FOREIGN CURRENCIES AND GOLD TRADING

NET LOSS FROM DEALING OF INVESTMENT SECURITIES


2013 2012


2013 2012

Income from gold trading

Income from derivatives

Income from spot foreign exchangeIncome from foreign currencies and gold trading

Expenses from foreign currencies and gold trading

Net loss from foreign currencies and gold trading

Expenses from spot foreign exchange

Expenses of gold trading

Expenses from derivatives


Other expenses

Net other income

-

159,538

-

46,550

-

2,561

17,500

3,630

(62,170)

(25,741)

212,033

62

-

90,367

159,600

(90,233)

319,900

150,171

(115,974)

203,926

Other expenses

229,282

7,933

5,311

(42,152)

4,107

(565)

16,004

55,501

(36,384)

(420)

543,027

151

(203,517)

57,858

8,084

(93,076)

855,589

(15,516)

(297,013)

558,576

28.

29.



Proceeds from disposal of land use rights and other fixed assetsIncome from liquidation of foreclosed assets and other assets

Cost of disposal of land use rights and other fixed assets

Expenses from liquidation of foreclosed assets

Income from reversal of VAT expenses incurred in previous years

Dividends from investments

Gain/(loss) from disposal of other long-term investments

Share of profit of the associates under equity method

Reversal of provision for decline in value of long-term investments


- From equity investment securities

- From long-term investments

Reversal of over provision of VAT expenses in previous year

Other income

B05/TCTD-HN

NET OTHER INCOME

GAIN/(LOSS) FROM LONG-TERM INVESTMENTS


2013 2012


2013 2012

Bad debt recoveries

Other income


Meal allowances

Personnel expenses

Asset expenditures

Other operating expenses

Salary and allowances

Rental

Advertisement, marketing and promotion

Materials and printing

Depreciation of fixed assets

Meeting and conference

Business trips

Repair and maintenance

Insurance for customer deposits

Postage and telecommunication

Purchase of tools

Professional services

Other taxes and fees

Insurance for assets

Utilities

Education and trainings

Labour union's activities

Others

Social activities

Uniform and safe labour instruments

Other allowances to employees

811,596

66,216

60,590

4,315

1,435

14

944,166

225,848

183,951

62,341

23,076

1,957

497,173

997,617

64,580

55,982

322

852

17

1,119,370

217,384

191,188

52,877

14,012

2,136

477,597

231,354

100,808

63,199

48,520

40,589

37,015

25,609

10,672

5,947

4,633

207

110,833

679,386

2,120,725

241,293

94,239

45,301

42,497

36,819

37,138

27,040

10,552

9,949

10,836

261

144,065

699,990

2,296,957

30.



Social insurance, health insurance, unemployed insurance and union fee

B05/TCTD-HN

OPERATING EXPENSES


2013 2012


1,480,223

2,258,816

1,755,918

33,951,080

1,000,076

40,446,113

13,209,831

2,269,024

2,312,810

19,138,904

1,000,000

37,930,569

5,689

811,596

71,963

66,216

949,775

11,888,381

13,912,448

5,614

997,617

108,572

64,580

1,170,769

14,808,470

17,378,771

20122013

31.

32.


I. Total average number of employees (person)

II. Employees' income (VND million)


Cash and cash equivalents presented in the consolidated cash flow statement comprise the following balances in the consolidated balance sheet:

B05/TCTD-HN

CASH AND CASH EQUIVALENTS

EMPLOYEES' INCOME



Balances with the State Bank of Vietnam

Cash, gold and precious stones

Demand deposits with other banks

Deposits with and loans to other banks with term under three months

Securities with term under three months from the purchasing date

1. Total salary

2. Bonuses

3. Other income

4. Total income (1+2+3)

5. Average salary per month (VND/person)

6. Average income per month (VND/person)


Valuable papers

Real estate properties

Movable assets

Other assets

74,825,759

33,360,859

8,233,043

3,962,143

120,381,804

70,815,240

26,435,124

8,553,195

5,779,895

111,583,454

33.

34.



In the normal course of business, the Bank is a party to financial instruments which are recognised as off-balance sheet items. These financial instruments mainly comprise guarantee commitments and letters of credit. These instruments involve elements of credit risk in excess of the amounts recognised in the consolidated balance sheet.

Credit risk for off-balance sheet financial instruments is defined as the possibility of sustaining a loss because any other party to a financial instrument fails to perform in accordance with the terms of the contract.

Financial guarantees are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party including guarantee for borrowings, settlement, performing contracts and bidding. The credit risk involved in issuing guarantees is essentially the same as that involved in extending loans to other customers.

Commercial at sight letters of credit represents a financing transaction by the Bank to its customer where the customer is usually the buyer/importer of goods and the beneficiary is typically the seller/exporter. Credit risk from this type of letters of credit is limited as the merchandise shipped serves as collateral for the transaction.

Deferred letters of credits represent the amounts at risk should the contract be fully drawn upon but the client defaults in repayment to the beneficiary. Deferred letters of credit that defaulted by clients are recognised by the Bank as granting of a compulsory loan with a corresponding liability representing the financial obligation of the Bank to pay the beneficiaries and to fulfil the guarantor obligation.

The Bank requires margin deposits to support credit-related financial instruments when it is deemed necessary. The margin deposit required varies from nil to 100% of the value of a commitment granted, depending on the creditworthiness of clients as assessed by the Bank.

The collaterals and mortgages from loans and advances to customers per the book value are as follows:

B05/TCTD-HN

COLLATERALS AND MORTGAGES

CONTINGENT LIABILITIES AND COMMITMENTS




2,372,776

1,652,623

777,108

739,968

203,822

1,318,565

7,064,862

153,780

7,218,642

(530,806)

6,687,836

1,289,551

1,135,069

856,058

1,020,554

160,773

786,625

5,248,630

151,739

5,400,369

(358,419)

5,041,950

;

34.

35.



The outstanding commitments and contingent liabilities as at 31 December are as follows:

Related party transactions include all transactions undertaken with other entities to which the Bank and its subsidiary are related. Parties are considered as related parties if one party is able to control over or significantly influence the other party in making decision of financial and operational policies. A party is deemed to be related to the Bank and its subsidiary if:

(a) Directly, or indirectly through one or more intermediaries, the party:

(b) The related party is a joint venture or associate in which the Bank is a venture or associate;

(d) The related party is a close member of the family of any individual referred to in (a) or (c); or

(e) The related party is an entity that is, directly or indirectly, controlled, jointly controlled or significantly influenced by, or of which, significant voting power in such entity resides with any individual referred to in (c) or (d).

The related party has member(s) who is/are key personnel in the Management of the Bank or its holding company;

controls or is controlled by or is under common control of the Bank (including holding companies and its subsidiaries);

has an interest in the Bank that gives it significant influence over the Bank;

has joint control over the Bank;

At sight letters of credit

Deferred letters of credit

Financial guarantees

Other guarantees

Other commitments

Less: Margin deposits

Contingent liabilities and commitments

- Performance guarantee

- Settlement guarantee

- Tender guarantee

B05/TCTD-HN

CONTINGENT LIABILITIES AND COMMITMENTS (continued)

RELATED PARTY TRANSACTIONS



( c )


115

(433,394)

(45,576)

(1,793,500)69,756

114,240

(316,018)

104,168

(24,097)

(1,681)

112,374

150,000

839,942

17,137

36.

56,887,877

83,354,232

14,655,017

2,135,942

64,373,954

78,142,547

16,058,1337,677,744

7,051,893

986,621

-

-

-

1,392,600

1,329,864

486,600

-

12,969

57,874,498

83,354,232

14,655,017

2,135,942

65,766,554

79,472,411

16,544,733

7,677,744

7,064,862

35. RELATED PARTY TRANSACTIONS (continued)

CONCENTRATION OF ASSETS, LIABILITIES AND OFF-BALANCE-SHEET ITEMS BY GEOGRAPHICAL REGIONS



Relationship

Relationship

Domestic Overseas Total

Major shareholders

Other related parties

Other related parties

Interest income

Interest income

Deposits taken

Deposits taken

Interest receivables

Interest expenses

Interest expenses

Deposits placed

Interest payables

Capital contribution

Income from disposal of real estate

Loans received

Loans granted

Receivables from disposal of real estate

Transactions

Transactions

Amount

Receivables/(Payables)

VND million

VND million

VND million VND million VND million

Significant transactions with related parties for the year ended 31 December 2013 were as follows:

Other related parties are associates and other related shareholders of the Bank.

Receivables and payables with the related parties as at 31 December 2013 are as follows:

Due from and loans to other banks




Due to and borrowings from other banks

Customer deposits

Valuable papers issued

Derivative financial instruments(Nominal amount)

Assets at 31 December 2013 (*)

Liabilities at 31 December 2013

Off-balance-sheet commitments at 31 December 2013

(*) Excluding provision

B05/TCTD-HN


Major shareholders



B05/TCTD-HN

37.

SEG

MEN

T RE

PORT

37.1

M

ain

segm

ent r

epor

t: by

geo

grap

hica

l reg

ion

Info

rmat

ion

of in

com

e, e

xpen

ses,

asse

ts a

nd li

abili

ties

of th

e di

visi

ons

by g

eogr

aphi

cal a

rea

of th

e Ba

nk a

s at

and

for t

he y

ear e

nded

31

Dec

embe

r 201

3 is

as

follo

ws:

The

Hea

d O

ffice

whi

ch b

elon

gs to

the

Sout

h m

ade

som

e tr

ansa

ctio

ns fo

r the

who

le b

ank

but h

as n

ot m

ade

the

allo

catio

n to

oth

er b

usin

ess

units

of t

he B

ank.

Net i

nter

est a

nd si

mila

r inco

me

Inte

rest

and s

imila

r inco

me

TOTA

L OPE

RATIN

G IN

COM

E

Prof

it be

fore

cred

it los

s exp

ense

sCr

edit

loss e

xpen

ses

Due f

rom

and l

oans

to ot

her b

anks

Curre

nt co

rpor

ate i

ncom

e tax

expe

nse

TOTA

L OPE

RATIN

G EX

PENS

ES

PROF

IT B

EFOR

E TAX

PROF

IT A

FTER

TAX

TOTA

L ASS

ETS

TOTA

L LIA

BILI

TIES

LIAB

ILIT

IES

ASSE

TS

Inte

rest

and s

imila

r exp

ense

s

Othe

r inco

me

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

Nort

hCe

ntra

lSo

uth

Elim

inat

ion

Tota

l

2,324

,744

(2,13

5,832

)

188,9

1277

,076

265,9

88(2

58,16

9)

7,819

(56,6

83)

(48,

864)

1,045

,957

205,4

7828

,567

234,0

45(1

29,13

7)

104,9

08(2

1,583

)

83,3

25

20,50

1,138

(18,1

59,18

4)(8

40,47

9)

2,341

,954

406,8

75

2,748

,829

(1,73

3,419

)

1,015

,410

(222

,003)

793,

407

23,87

1,839

(2

1,135

,495)

2,736

,344

512,5

18

3,248

,862

(2,12

0,725

)

1,128

,137

(300

,269)

827,

868

(169

,162)

(12,9

69,61

1)12

,969,6

11 - - - - - - - -

10,90

2,228

(8,16

5,884

)

2,736

,344

512,5

18

3,248

,862

(2,12

0,725

)

1,128

,137

(300

,269)

827,

868

(169

,162)

1,513

15,75

9,259 -

784,7

15

16,5

45,4

87 2614

,578,6

082,0

15,28

1

16,5

93,9

15

3,069

6,280

,768 -

293,6

06

6,57

7,44

3

7,372

3,737

,605

2,748

,610

6,49

3,58

7

57,86

9,916

60,60

3,247

16,66

7,894

11,57

1,473

146,

712,

530

65,75

9,156

61,15

6,198

5,152

,287

132,

067,

641

57,87

4,498

82,64

3,274

16,66

7,894

12,64

9,794

169,

835,

460

65,76

6,554

79,47

2,411

9,916

,178

155,

155,

143

--65

8,70

6

- - - - - - - -

658,

706

57,87

4,498

82,64

3,274

16,66

7,894

12,69

4,794

169,

835,

460

65,76

6,554

79,47

2,411

155,

155,

143

9,916

,178

Inve

stmen

ts

Custo

mer

depo

sits

Loan

s and

adva

nces

to cu

stom

ers

Due t

o and

borro

wing

s fro

m ot

her b

anks

Othe

r asse

ts

Othe

r liab

ilities

Tota

l se

gmen

t rep

orted


37.

37.2 Secondary segment report: by business sector

For management purposes, the Bank and its subsidiary are organised into sectors based on the followings:

Investments:

Interbank activities:

Securities investments and other long-term investments

Placements from and to; borrowings, lending and other interbank activities with other banks.

SEGMENT REPORT (continued)



Individual customers and corporate customers:

The products and services provided to individual and corporate clients include:

- Customer deposits;

- Loans;

- Card services and money transfer services.

B05/TCTD-HN



37.2

Seco

ndar

y se

gmen

t rep

ort:

by b

usin

ess s

ecto

r (co

ntin

ued)

Info

rmat

ion

on a

sset

s an

d lia

bilit

ies

of th

e bu

sine

ss s

ecto

rs o

f the

Ban

k as

at 3

1 D

ecem

ber 2

013

are

as fo

llow

s:

37.

SEG

MEN

T RE

PORT

(con

tinu

ed)

Segm

enta

l inf

orm

atio

n on

inco

me

and

expe

nses

of t

he B

ank

is n

ot p

rese

nted

bec

ause

the

Bank

has

not

est

ablis

hed

man

agem

ent

info

rmat

ion

syst

em to

col

lect

this

info

rmat

ion.

Othe

r liab

ilities

Due t

o and

borro

wing

s fro

m ot

her b

anks

Custo

mer

depo

sits

Valua

ble pa

pers

issue

d

Cash

, gold

and p

recio

us st

ones

Balan

ces w

ith th

e Sta

te Ba

nk of

Viet

nam

Due f

rom

and l

oans

to ot

her b

anks

Deriv

ative

s and

othe

r fina

ncial

asse

ts

Loan

s and

adva

nces

to cu

stom

ers

Inve

stmen

t sec

uriti

es

Long

-term

inve

stmen

ts

Fixed

asse

ts

Othe

r asse

ts

TOTA

L ASS

ETS

LIAB

ILIT

IES

TOTA

L LIA

BILI

TIES

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion - - - -

82,64

3,274 - --

1,688

,754

84,3

32,0

28

- - - - -

14,65

5,017 -

2,012

,877

632,6

46

17,3

00,5

40

-

2,258

,816

57,87

4,498

7,190 - - --

57,34

3

60,1

97,8

47

1,480

,223 - - - - -

4,320

,661-

2,204

,161

8,00

5,04

5

1,480

,223

2,258

,816

57,87

4,498

7,190

82,64

3,274

14,65

5,017

4,320

,661

2,012

,877

4,582

,904

169,

835,

460

-

79,47

2,411-

3,177

,744

1,059

,686

83,7

09,8

41

- -- -

1,850

1,85

0

426,8

01 -

65,76

6,554

4,500

,000

656,8

83

71,3

50,2

38

- -- -

93,21

4

93,2

14

426,8

01

79,47

2,411

65,76

6,554

7,677

,744

1,811

,633

155,

155,

143

Indivi

dual

and

corp

orat

e cus

tom

ersInv

estm

ents

Interb

ank a

ctivit

iesUn

-allo

cated

ge

nera

l acti

vities

Tota

l

Borro

wing

s fro

m th

e Gov

ernm

ent a

nd th

e Stat

e Ban

k of

Viet

nam

ASSE

TS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) B05/TCTD-HN


38. FINANCIAL RISK MANAGEMENT POLICIES



Risk is inherent in the Bank and its subsidiary's activities and is managed through a process of ongoing identification, measurement and monitoring, subject to risk limits and other controls. This process of risk management is critical to the Bank and its subsidiary's continuing profitability and each individual within the Bank and its subsidiary is accountable for the risk prevention relating to his or her responsibilities. The Bank and its subsidiary are exposed to such types of risk as credit risk, liquidity risk and market risk (then being subdivided into trading and non-trading risks). The Bank and its subsidiary are also subject to various operational risks.

The independent risk control process does not include business risks such as changes in the environment, technology and industry. The Bank and its subsidiary's policy is to monitor those business risks through the Bank and its subsidiary's strategic planning process

The Board of Directors is ultimately responsible for identifying and controlling risks. However, each separate member shall be responsible for managing and monitoring risks.

The Board of Directors is responsible for monitoring the overall risk management process within the Bank and its subsidiary.

The Board of Supervisors has the responsibility to control the overall risk management process within the Bank and its subsidiary.

According to the annual internal audit plan, business processes throughout the Bank and its subsidiary are audited annually by the internal audit function, which examines both the adequacy of the procedures and the Bank and its subsidiary's compliance with the procedures. Internal Audit discusses the results of all assessments with the Board of Management, and reports its findings and recommendations to the Board of Supervisors.

The Bank and its subsidiary's risks are measured using a method which reflects both the expected losslikely to arise in normal circumstances and unexpected losses, which are an estimate of the ultimate actual loss based on statistical models.

For all levels throughout the Bank and its subsidiary, specifically tailored risk reports are prepared and distributed in order to ensure that all business departments have access to extensive, necessary and up-to-date information

Monitoring and controlling risks is primarily performed based on limits established by the Bank and its subsidiary in compliance with the SBV's regulations. These limits reflect the business strategy and market environment of the Bank and its subsidiary as well as the level of risk that the Bank and its subsidiary are willing to accept.

Information compiled from all business activities is examined and processed in order to analyse, control and early identify risks. This information is presented and explained to the Board of Directors, Board of Management, and the departments' directors. The report includes aggregate credit exposure, credit metric forecasts, limit exceptions, liquidity ratios and risk profile changes. The Management assesses the appropriateness of the allowance for credit losses on a quarterly basis. The Management receives a comprehensive risk report quarterly which is designed to provide all the necessary information to assess and conclude on the risks of the Bank and its subsidiary.

( i ) Risk management structure

(ii ) Board of Directors

(iii ) Board of Supervisors

(iv ) Internal Audit

(v ) Risk measurement and reporting systems

B05/TCTD-HN

(vi) Risk mitigation

The Bank and its subsidiary actively uses collaterals to reduce its credit risk.


(vii) Excessive risk concentration

38. FINANCIAL RISK MANAGEMENT POLICIES (continued)



Credit risk

(a) Financial assets neither past due nor impaired

38.1

Risk concentrations arise when a number of customers of the Bank and its subsidiary are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would affect the group of customers' payment obligations or payment receipt rights when due under changes in economic, political or other conditions.

These above concentrations indicate the level of sensitivity of the Bank and its subsidiary's performance to the developments of a particular industry or geographic allocation.

In order to avoid excessive concentrations of risk, the Bank and its subsidiary's policies and procedures include specific guidelines to focus on maintaining a diversified portfolio. Identified concentrations of credit risk are controlled and managed accordingly. Selective hedging is used within the Bank and its subsidiary in respect of the industries and other related factors.

Credit risk is the risk that the Bank will incur a loss because its customers fail to discharge their contractual obligations.

The Bank and its subsidiary believed that they can recover fully and timely these financial assets in the near future.

To manage credit risk, the Bank and its subsidiary issued credit policies and instructions to standardize their credit operations.

The Bank and its subsidiary manage and control credit risk by setting limits on the amount of risk they are willing to accept for individual customers and for geographical and industry concentrations, and by monitoring exposures in relation to such limits.

The Bank and its subsidiary have established a credit quality review process to provide early identification of possible changes in the creditworthiness of customers, including regular collateral review. Credit limits for customers are established by the use of a credit rating system, which assigns each customer a risk rating. Risk ratings are subject to regular revision.

The Bank and its subsidiary's financial assets which are neither past due nor impaired include loans and advances to customers classified as Current loan in accordance with Decision No. 493/2005/QD-NHNN, Decision No. 18/2007/QD-NHNN and Decision No. 780/QD-NHNN; securities, receivables and other financial assets which are not past due and no provision is required in accordance with Circular No. 228/2009/TT-BTC.

B05/TCTD-HN


Past due

VND million VND million VND million VND million VND million

117,324

117,324

51,810

51,810

80,410

80,410

584,564

584,564

834,108

834,108

(b) Financial assets past due but not impaired

(a) Interest rate risk

Credit risk (continued)

Market risks

38.1

38.2




Aging of past due financial assets but not impaired are presented as below:

These are past due financial assets but not impaired as they are secured fully by collaterals, including reciprocal deposits, real estate properties, movable assets, valuable papers and other assets.

Less than 90 days

Loan and advances to customers

Interest rate risk arises from the possibility that changes in interest rates will affect the fair values of financial instruments. The Bank and its subsidiary are exposed to interest rate risk as a result of mismatches of maturity dates or dates of interest rate re-pricing in respect of assets and liabilities and off-balance sheet instruments over a certain period. The Bank and its subsidiary manage this risk by matching the dates of interest rate re-pricing of assets and liabilities.

The actual term of interest rate repricing is the remaining period calculated from the consolidated balance sheet date to the next interest rate repricing term or the maturity term of the items on the consolidated balance sheet whichever is earlier.

The following assumptions and conditions have been adopted in the analysis of actual interest rate repricing terms of the assets and liabilities of the Bank and its subsidiary:

Cash, gold, gemstones, long-term investments and other assets (including fixed assets, investment properties and other assets) and other liabilities are classified as non-interest bearing items.

Balances with the State Bank of Vietnam are considered as current and the actual; interest rate repricing term is therefore considered within 1 month.

The actual interest rate repricing term of investment securities and trading securities are determined based on the actual maturity term of each kind of securities as at the consolidated balance sheet date.

Analysis of assets and liabilities based on actual interest rate repricing term

From 91 to 180 days

From 181 to 360 days Over 360 days Total

B05/TCTD-HN


-

-




B05/TCTD-HN

(a) Interest rate risk (continued)

Market risks (continued)38.2

Analysis of assets and liabilities based on actual interest rate repricing term (continued)

The actual interest rate repricing term of due from and loans to other banks; loans to customers; borrowings from Government and the State Bank of Vietnam; due to and borrowings from other banks and customer deposits and grants, entrusted funds and loans exposed to risks are determined as follows:

The actual interest rate repricing term of valuable papers is determined based on the remaining maturity term of each valuable paper calculated from the consolidated balance sheet date.

Items which bear fixed interest rate for the entire contractual term: The actual interest rate repricing term is determined based on the remaining contractual term calculated from the consolidated balance sheet date.

Items which bear floating interest rate: The actual interest rate repricing term is determined based on the next interest rate repricing date subsequent to the consolidated balance sheet date.




Othe

r liab

ilities

(*)

Valua

ble pa

pers

issue

d

Custo

mer

depo

sits

Due t

o and

borro

wing

s fro

m ot

her b

anks

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

Tota

lOv

erdu

e - - -

2,928

,610- - - - -

2,92

8,61

0

(*)

Ex

clud

ing

prov

isio

ns

No

anal

ysis

on

inte

rest

rate

sen

sitiv

ity w

as p

erfo

rmed

at 3

1 D

ecem

ber 2

013

sinc

e th

e Ba

nk a

nd it

s su

bsid

iary

do

not h

ave

suffi

cien

t dat

a an

d te

chno

logy

.

Inte

rest

rate

sens

itivi

ty

1,480

,223 - - -

7,190

1,926

,302

2,135

,942

4,320

,661

4,582

,904

14,4

53,2

22

-2,2

58,81

6

22,12

8,248

45,95

6,980-

600,0

00 - - -70

,944

,044

- -

22,32

1,750

28,55

9,990-

1,273

,203 - - -

52,1

54,9

43

- -

12,66

4,500

3,040

,757-

2,600

,000 - - -

18,3

05,2

57

- -

760,0

00

2,181

,381-

3,869

,005 - - -

6,81

0,38

6

- - -

677,9

60-

1,311

,507 - - -

1,98

9,46

7

- - -

8,554-

3,075

,000 - - -

3,08

3,55

4

1,480

,223

2,258

,816

57,87

4,498

83,35

4,232

7,190

14,65

5,017

2,135

,942

4,320

,661

4,582

,904

170,

669,

483

- - - - - -

2,92

8,61

0

-15

0,214

1,169

,586 -

1,755

,189

3,07

4,98

9

11,3

78,2

33

415,9

24

28,41

2,740

43,46

5,801

2,259

,385 -

74,5

53,8

50

(3,6

09,8

06)

-25

,155,6

00

17,21

3,706

1,642

,383 -

44,0

11,6

89

8,14

3,25

4

10,87

7

12,04

8,000

5,501

,805

417,5

92 -

17,9

78,2

74

326,

983

- -

9,523

,801

358,3

84 -

9,88

2,18

5

(3,0

71,7

99)

- -

2,594

,831 - -

2,59

4,83

1

(605

,364

)

- -

2,881

3,000

,000 -

3,00

2,88

1

80,6

73

426,8

01

65,76

6,554

79,47

2,411

7,677

,744

1,755

,189

155,

098,

699

15,5

70,7

84

(a)

Inte

rest

rate

risk

(con

tinue

d)M

arke

t ris

ks (c

ontin

ued)

38.2

Belo

w ta

ble

show

s th

e ef

fect

ive

inte

rest

re-p

ricin

g te

rm o

f ass

ets

and

liabi

litie

s as

at 3

1 D

ecem

ber 2

013:

Inte

rest

rate

re-p

ricin

g te

rmO

ver

5 y

ears

From

1 to

5 y

ears

From

6 to

12

mon

ths

From

3 to

6

mon

ths

From

1 to

3

mon

ths

Up

to

1 m

onth

Non

-inte

rest

be

arin

g

Cash

, gold

and p

recio

us st

ones

Balan

ces w

ith th

e SBV

Due f

rom

and l

oans

to ot

her b

anks

(*)

Deriv

ative

s and

othe

r fina

ncial

asse

ts

Loan

s and

adva

nces

to cu

stom

ers (

*)

Inve

stmen

t sec

uriti

es (*

)

Long

-term

inve

stmen

ts (*

)

Fixed

asse

ts

Othe

r asse

ts (*

)

Borro

wing

s fro

m th

e Gov

ernm

ent a

nd

the S

tate

Bank

of Vi

etna

m

Inte

rest

rate

sens

itivi

ty g

ap

Asse

ts

Tota

l ass

ets

Liabi

litie

s

Tota

l lia

bilit

ies



Othe

r liab

ilities

(*)

Cash

, gold

and p

recio

us st

ones

Balan

ces w

ith th

e Sta

te Ba

nk of

Viet

nam

Due f

rom

and l

oans

to ot

her b

anks

(*)

Deriv

ative

s and

othe

r fina

ncial

asse

ts

Loan

s and

adva

nces

to cu

stom

ers (

*)

Othe

r asse

ts (*

)

Borro

wing

s fro

m th

e Gov

ernm

ent a

nd SB

V

Due t

o and

borro

wing

s fro

m ot

her b

anks

Custo

mer

depo

sits

Deriv

ative

s and

othe

r fina

ncial

liabil

ities

Valua

ble pa

pers

issue

d

73,74

0 - -

817,9

86- 789

1,73

3

(*)

Ex

clud

ing

prov

isio

ns

96,17

9 -51

,624

221,7

85

2,011

,113 -

2,38

0,70

1

393,6

691,1

75,82

715

,887,4

00

15,84

9,630-

1,847

33,3

08,3

73

337,0

94 -18

7,571

20,88

7

553,3

68 -1,

098,

920

900,6

821,1

75,82

716

,126,5

95

16,91

0,288

2,564

,481

1,854

37,6

79,7

27

- - - -- 1 189

1,73

245

,145

936,

877

-

38,30

42,3

40,26

8 --

966

2,37

9,53

81,

163

867

2,03

0

10,87

7

22,21

9,007

12,35

4,696

732,1

97

655,0

17

127,7

9136

,099

,585

(2,7

91,2

12)

360,

630

(2,4

30,5

82)

-

112,1

1092

1,741 --

10,62

41,

044,

475

54,4

45(4

5,26

4)

9,18

1

10,87

7

22,36

9,421

15,61

6,705

732,1

97

655,0

17

139,3

8239

,523

,599

(1,8

43,8

72)

361,

378

(1,4

82,4

94)



Mar

ket r

isks

(con

tinue

d)

38.2

Curr

ency

risk

(b)

Curr

ency

risk

is th

e ris

k th

at th

e va

lue

of fi

nanc

ial i

nstr

umen

ts w

ill fl

uctu

ate

due

to c

hang

es in

fore

ign

exch

ange

rate

s.Th

e Ba

nk a

nd it

s su

bsid

iary

wer

e in

corp

orat

ed a

nd o

pera

te in

Vie

tnam

, so

VND

is th

e re

port

ing

curr

ency

. The

maj

or c

urre

ncy

in w

hich

the

Bank

and

its

subs

idia

ry tr

ansa

ct is

als

o VN

D. H

owev

er, s

ome

tran

sact

ions

are

den

omin

ated

in g

old,

USD

, EU

R an

d ot

her f

orei

gn c

urre

ncie

s.

The

Bank

and

its

subs

idia

ry h

ave

set l

imits

to c

ontr

ol th

e po

sitio

ns o

f the

cur

renc

ies.

Pos

ition

s ar

e m

onito

red

on a

dai

ly b

asis

and

hed

ging

st

rate

gies

are

use

d to

ens

ure

that

the

curr

ency

pos

ition

s ar

e m

aint

aine

d w

ithin

est

ablis

hed

limits

.

Clas

sific

atio

n of

ass

ets

and

liabi

litie

s of

whi

ch c

urre

ncie

s ar

e tr

ansl

ated

into

VN

D a

s at

31

Dec

embe

r 201

3 ar

e as

follo

ws:

VND m

illion

Gold

equiv

alent

toVN

D milli

onVN

D milli

onVN

D milli

onTo

tal

VND m

illionEU

Req

uivale

nt to

USD

equiv

alent

toOt

her f

oreig

n cur

rencie

s eq

uivale

nt to

VND m

illion

Tota

l lia

bilit

ies a

nd ow

ners

' equ

ity

Fore

ign

exch

ange

pos

ition

on-b

alan

ce sh

eet

Fore

ign

exch

ange

pos

ition

off-b

alan

ce-sh

eet

Fore

ign

exch

ange

pos

ition

on

and

off-b

alan

ce-sh

eet

Liabi

litie

s and

owne

rs' e

quity

Asse

ts

Tota

l ass

ets





No analysis on foreign currency sensitivity was performed at 31 December 2013 since the Bank and its subsidiary do not have sufficient data and technology.

Liquidity risk is the risk which the Bank and its subsidiary have difficulty in meeting its financial obligations. Liquidity risk occurs when the Bank and its subsidiary cannot afford to settle debt obligations at the due dates in the normal or stress conditions. To minimise the liquidity risk exposure, the Bank and its subsidiary diversify the mobilisation of deposits from various sources apart from their basic capital resources. In addition, the Bank and its subsidiary have a flexible policy to control liquidity of assets, monitors the future cash flows and daily liquidity. The Bank and its subsidiary also evaluate the estimated cash flows and the availability of current collaterals in case of obtaining more deposits.

Liquidity risk is restricted by holding a high proportion of cash and cash equivalents in the form of Nostro accounts, term deposits at the State Bank of Vietnam and other credit institutions and valuable papers. The risk-weighted ratios are used to manage liquidity risk.

The maturity term of assets and liabilities represents the remaining period of assets and liabilities calculated from the consolidated balance sheet date to the settlement date in accordance with contractual terms and conditions.

The following assumptions and conditions are applied in the maturity analysis of the Bank and its subsidiary's assets and liabilities:

Balances with the State Bank of Vietnam are classified as demand deposits which include compulsory deposits.

The maturity term of investment securities is calculated based on the maturity date of each kind of securities.

The maturity term of due from and loans to other banks; and loans to customers is determined based on the maturity date as stipulated in contracts. The actual maturity term may be altered because loan contracts may be extended.

The maturity term of long-term investments is considered as more than one year because these investments do not have specific maturity date.

The maturity term of fixed assets is determined on the remaining useful life of assets.

The maturity term of deposits and borrowings from other banks; and customer deposits is determined based on features of these items or the maturity date as stipulated in contracts. Vostro account and demand deposits are transacted as required by customers, and therefore, being classified as current accounts. The maturity term of borrowings and term deposits is determined based on the maturity date in contracts. In fact, these amounts may be rotated, and therefore, they last beyond the original maturity date.

Foreign currency sensitivity


Market risks (continued) 38.2

Currency risk (continued)(b)

Liquidity risk(b)



as at and for the financial year ended 31 December 2013NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

(*)

e

xclu

ding

pro

visi

on

Belo

w ta

ble

sho

ws

the

anal

ysis

of t

he li

quid

ity

risks

of a

sset

s an

d lia

bili

ties

as

at 3

1 D

ecem

ber

201

3:

Asse

ts

Cash

, gold

and p

recio

us st

ones

--

1,480

,223

--

--

1,480

,223

Balan

ces w

ith th

e Sta

te Ba

nk of

Viet

nam

--

2,258

,816

--

--

2,258

,816

Due f

rom

and l

oans

to ot

her b

anks

(*)

--

22,12

8,248

22,32

1,750

13,42

4,500

--

57,87

4,498

Loan

s and

adva

nces

to cu

stom

ers (

*)1,6

52,20

61,2

76,40

411

,088,4

4521

,884,9

4821

,556,1

439,4

37,35

716

,458,7

2983

,354,2

32

Deriv

ative

s and

othe

r fina

ncial

asse

ts-

--

7,190

--

-7,1

90

Inve

stmen

t sec

uriti

es (*

)-

-1,6

02,06

81,2

73,20

31,4

19,00

56,4

66,76

138

93,98

014

,655,0

17

Long

-term

inve

stmen

ts (*

)-

--

-6,9

302,1

29,01

2-

2,135

,942

Fixed

asse

ts-

-1,0

3452

817

,033

259,9

064,0

42,16

04,3

20,66

1

Othe

r asse

ts (*

)-

-2,0

11,48

924

,799

1,851

,380

695,2

36-

4,582

,904

Tota

l ass

ets

1,65

2,20

61,

276,

404

40,5

70,3

2345

,512

,418

38,2

74,9

9118

,988

,272

24,3

94,8

6917

0,66

9,48

3

Borro

wing

s fro

m th

e Gov

ernm

ent a

nd SB

V-

-41

5,924

-4,3

516,5

26-

426,8

01

Due t

o and

borro

wing

s fro

m ot

her b

anks

--

28,56

2,954

25,15

5,600

12,04

8,000

--

65,76

6,554

Custo

mer

depo

sits

--

44,63

2,987

17,21

3,706

15,02

8,007

2,594

,831

2,880

79,47

2,411

Valua

ble pa

pers

issue

d-

-22

59,38

61,6

42,38

377

5,975

-3,0

00,00

07,6

77,74

4

Othe

r liab

ilities

(*)

--

1,593

,334

7,786

31,58

312

2,486

-1,7

55,18

9

--

77,4

64,5

8544

,019

,475

27,8

87,9

162,

723,

843

3,00

2,88

015

5,09

8,69

9Ne

t liq

uidi

ty g

ap1,

652,

206

1,27

6,40

4(3

6,89

4,26

2)1,

492,

943

10,3

87,0

7516

,264

,429

21,3

91,9

8915

,570

,784

( c )

Liqu

idit

y ri

sk (c

ontin

ued)

Mar

ket r

isks

(con

tinue

d)

38.2

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

VND

mill

ion

Ove

rdue

Curr

ent

Abov

e 3

mon

ths

Up to

3 m

onth

sUp

to 1

mon

th

From

1 to

3 m

onth

sFro

m 3

to

12 m

onth

sFro

m 1

to

5 yea

rsAb

ove

5 yea

rsTo

tal

B05/TCTD-HN

Liabi

litie

s

Tota

l lia

bilit

ies


In which:

- Due within one year- Due from two to five years- Due after five years

45,822

769,128

193,381486,260

89,487

42,829

736,544

178,896434,768122,880





39.

40.

CAPITAL AND OPERATING LEASE COMMITMENTS


Capital commitments on building constructions and office equipment acquisition

Irrevocable operating lease commitments

On 6 November 2009, the Ministry of Finance issued Circular No. 210/2009/TT-BTC (“Circular 210”) providing guidance for the adoption of the International Financial Reporting Standards on presentation and disclosures of financial instruments which is effective for financial years beginning on or after 1 January 2011.

The Bank and its subsidiary have adopted Circular 210 and presented supplemental notes conforming to requirement of this Circular in the consolidated financial statements.

Financial assets of the Bank and its subsidiary within the scope of Circular 210 comprise cash, gold, precious stones, balances with the SBV, due from and loans to other banks, loans and advances to customers, trading and investment securities, receivables and other assets under monetary derivative contracts.

Circular 210 only requires for the presentation and disclosures of financial instruments, and therefore, the Bank and its subsidiary solely apply the concepts of financial assets, financial liabilities and related concepts for the supplemental presentation according to Circular 210. Items of assets, liabilities and equity of the Bank and its subsidiary have been recognised and accounted for in accordance with the prevailing stipulations of the Vietnamese Accounting Standards and Accounting System for Credit Institutions and the statutory requirements relevant to preparation and presentation of consolidated financial statements.


Capital commitments39.1

Operating lease commitments

Financial assets

39.2

SUPPLEMENTAL NOTES ON FINANCIAL ASSETS AND FINANCIAL LIABILITIES ACCORDING TO CIRCULAR NO. 210/2009/TT-BTC


is a financial asset that meets either of the following conditions:

are non-derivative financial assets with fixed or determinable payments and fixed maturity that the Bank and its subsidiary have the positive intention and ability to hold to maturity other than:

are non-derivative financial assets that are designated as available for sale or are not classified as:

are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market other than:

It is classified as held for trading. A financial asset is classified as held for trading if:

Those that the Bank and its subsidiary upon initial recognition designate as at fair value through profit or loss;

Loans and receivables;

Those that the Bank and its subsidiary intend to sell immediately or in the near term, which shall be classified as held for trading, and those that the Bank and its subsidiary upon initial recognition designate as at fair value through profit or loss;

Those that the Bank and its subsidiary designate as available for sale; and

Held-to-maturity investments;

Those that the Bank and its subsidiary upon initial recognition designate as available for sale; or

Those that meet the definitions of loans and receivables.

Financial assets at fair value through profit or loss.

Those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration, which shall be classified as available for sale.

Upon initial recognition it is designated by the Bank and its subsidiary as at fair value through profit or loss.

It is acquired or incurred principally for the purpose of selling or repurchasing it in the near term;

There is evidence of a recent actual pattern of short-term profit-taking; or

It is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument);

a)

b)

-

--

a)

a)

a)

c)

c)

c)


Financial asset at fair value through profit or loss:

Held-to-maturity investments:

Available-for-sale assets:

Loans and receivables:

According to Circular 210, financial assets are classified appropriately, for the purpose of disclosure in the consolidated financial statements, into one of the following categories:


40. SUPPLEMENTAL NOTES ON FINANCIAL ASSETS AND FINANCIAL LIABILITIES ACCORDING TO CIRCULAR NO. 210/2009/TT-BTC (continued)

Financial assets (continued)


--

-

a)

as at and for the financial year ended 31 December 2013NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) B05/TCTD-HN

40. SUPPLEMENTAL NOTES ON FINANCIAL ASSETS AND FINANCIAL LIABILITIES ACCORDING TO CIRCULAR NO. 210/2009/TT-BTC (continued)

Financial liabilities of the Bank and its subsidiary under Circular 210 consist of borrowings from the Government and the State Bank of Vietnam, due to and borrowings from other banks, customer deposits, grants, entrusted funds and loans exposed to risks, valuable papers issued, payables and other liabilities under monetary derivative contracts.

Financial assets and financial liabilities are offset and reported at the net amount in the consolidated balance sheet if, and only if, the Bank and its subsidiary have an enforceable legal right to offset financial assets against financial liabilities and the Bank and its subsidiary have intention to settle on a net basis, or the realisation of the assets and settlement of liabilities is made simultaneously.

According to Circular 210, financial liabilities are classified appropriately, for the purpose of disclosure in the consolidated financial statements, into one of the following categories:

Financial liabilities at fair value through profit or loss

Financial liabilities at amortised cost

are financial liabilities that meet either of the following conditions:

Financial liabilities which are not categorised as at fair value through profit or loss will be classified as financial liabilitiesat amortised cost.

They are classified as held for trading. A financial liability is classified as held for trading if:

Upon initial recognition they are designated by the Bank and its subsidiary as at fair value through profit or loss.

It is acquired or incurred principally for the purpose of selling or repurchasing it in the near term;

There is evidence of a recent actual pattern of short-term profit-taking; or

It is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedginginstrument).

Financial liabilities

Offsetting financial assets and liabilities


Due

to a

nd b

orro

win

gs fr

om o

ther

ban

ks

Cash

, gol

d an

d pr

ecio

us s

tone

s

Bala

nces

with

the

SBV

Due

from

and

loan

s to

oth

er b

anks

Cust

omer

dep

osits

Valu

able

pap

ers

issu

ed

VND m

illion

VND m

illion

VND m

illion

VND m

illion

VND m

illion

VND m

illion

VND m

illion

- - -

7,19

0

- - -

13,6

52,9

49

-

57,87

4,498

142,

776,

588

- -

2,91

5,03

3

1,480

,223 -

2,258

,816

-

5,82

4,58

6

1,480

,223

2,258

,816

-

57,87

4,498

165,

176,

346

1,480

,223

2,258

,816 (*)

Der

ivat

ives

and

oth

er fi

nanc

ial a

sset

s-

-7,1

90-

-7,1

90(*

)

Loan

s an

d ad

vanc

es to

cus

tom

ers

--

82,64

3,274

--

82,64

3,274

(*)

Avai

labl

e-fo

r-sa

le s

ecur

ities

-

--

1,002

,068

-1,0

02,06

8(*

)

Hel

d-to

-mat

urity

sec

uriti

es

-13

,652,9

49-

--

13,65

2,949

(*)

Oth

er lo

ng-t

erm

inve

stm

ents

--

-1,9

12,96

5-

1,912

,965

(*)

Oth

er fi

nanc

ial a

sset

s -

--

-4,3

44,36

34,3

44,36

3(*

)

- - -

- - -

65,76

6,554

79,47

2,411

7,677

,744

- - -

- - -

65,76

6,554

79,47

2,411

7,677

,744

--

155,

072,

569

--

155,

072,

569

Borr

owin

gs fr

om th

e G

over

nmen

t and

SBV

--

426,8

01-

-42

6,801

(*)

(*)

(*)

Oth

er fi

nanc

ial l

iabi

litie

s-

-1,7

29,05

9-

-1,7

29,05

9(*

)

(*)

as at and for the financial year ended 31 December 2013NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

40.

SUPP

LEM

ENTA

L N

OTE

S O

N F

INA

NC

IAL

ASS

ETS

AN

D F

INA

NC

IAL

LIA

BIL

ITIE

S A

CCO

RD

ING

TO

C

IRC

ULA

R N

O. 2

10/2

009/

TT-B

TC (c

onti

nued

)Ca

pita

l com

mitm

ents

39.1

FIN

AN

CIA

L A

SSET

S

FIN

AN

CIA

L LI

ABI

LITI

ES

The

carr

ying

val

ue a

nd fa

ir va

lue

of th

e Ba

nk a

nd it

s sub

sidia

ry's

finan

cial

inst

rum

ents

as a

t 31

Dec

embe

r 201

3 ar

e pr

esen

ted

as b

elow

:

(*)

The

fair

valu

e of

thes

e fin

anci

al a

sset

s and

fina

ncia

l lia

bilit

ies c

anno

t be

dete

rmin

ed a

s the

re is

no

spec

ific

guid

ance

of V

ietn

ames

e Ac

coun

ting

Stan

dard

s and

Ac

coun

ting

Syst

em o

n de

term

inat

ion

of fa

ir va

lue

of fi

nanc

ial i

nstr

umen

ts.

Carry

ing va

lue

Held

for

tradin

g

Held-

to-m

atur

ity

secu

rities

Loan

s and

rec

eivab

les

Avail

able-

for-sa

le se

curit

ies

Othe

r asse

ts an

d liab

ilities

at

amor

tised

cost

Tota

lFa

ir valu

e

B05/TCTD-HN


Prepared by: Reviewed by: Approved by:




Fair value hedging

40.2 Financial assets which have been pledged, mortgaged

34,748 3,470,000 SJC gold (one tenth of a tale)

19,734

28,910

23,593

16,606 18,738

21,100

33,5304,440,000

20,869

27,377

22,686

16,98521,559

20,820

31 December 2012

VND

31 December 2013

VND



In the year, the Bank and its subsidiary did not have any financial assets which have been pledged or mortgaged to secure for loans or have been transferred under the sale and repurchase contracts with the SBV and other credit institutions.

For assets and liabilities management, the Bank and its subsidiary has used derivatives for hedging to mitigate credit risk and market risk. Hedging is applied to specific derivatives, a portfolio of financial instruments having fixed interest rate as well as total financial position.

The Bank and its subsidiary has used fair value hedging to mitigate the risk from the fluctuation of financial assets and liabilities' fair value caused by the changes in interest rate and foreign exchange rate. For interest rate hedging, hedged financial instruments include loans and advances to customers, available-for-sale debt securities and issued valuable papers. For currency hedging, the Bank has used swap contracts.

The Bank has purchased 6,090,000 treasury shares with the total value of VND78,273 million from 2 January 2014 to 16 January 2014.

Except the above information and the information presented in the consolidated financial statements, there has been no other significant event occurring after the consolidated balance sheet date, which would require adjustments or disclosures to be made in the consolidated financial statements.


40.

41.

42.

43.

SUPPLEMENTAL NOTES ON FINANCIAL ASSETS AND FINANCIAL LIABILITIES ACCORDING TO CIRCULAR NO. 210/2009/TT-BTC (continued)

HEDGING

SUBSEQUENT EVENTS AFTER THE CONSOLIDATED BALANCE SHEET DATE

EXCHANGE RATES OF APPLICABLE FOREIGN CURRENCIES AGAINST VIETNAM DONG AT YEAR END


VI.2.Opinions of internal auditors

In 2013, based on the approved internal audit plan, the Board of Internal Auditors conducted

auditing Head Office's divisions, departments, branches and transaction offices in Eximbank's network

by means of sampling and risk orientation, prioritizing to focus on auditing the units which are

considered having higher risk levels than others.

The responsibilities of the Board of Internal Auditors are giving opinions about:

- Eximbank's financial statements

- Completeness of the internal control system

- Compliance by the units

Scope of auditing in 2013:

- Head Office's divisions and departments

- Main Transaction Office and branches

- Transaction offices

Pursuant to Decision No. 37/2006/QD-NHNN dated August 01, 2006 by the State Bank of Vietnam,

the Board of Internal Auditors of Eximbank was established under Decision No. 99/EIB/HDQT-07 dated

May 03, 2007 and operated under the Regulations on Internal Audit issued in conjunction with Decision

No. 35/EIB/HDQT-07 dated March 07, 2007 by the Board of Directors of Eximbank.

Pursuant to the Law on Credit Institutions 2010, Circular No. 44/2011/TT-NHNN dated December

29, 2011 by the State Bank of Vietnam, on August 06, 2012, the Board of Directors of Eximbank issued

Decision No. 285/2012/EIB/QD-HDQT providing for Regulations on the organization and operations of

the Board of Internal Auditors superseding the previous Regulations on Internal Audit (issued under

Decision No. 35/EIB/HDQT-07)

Therefore, the organization and operations of Eximbank's Board of Internal Auditors are

performed in accordance with the Regulations on the organization and operations of the Board of

Internal Auditors, coming into effect from August 06, 2012.

Besides, the Board of Internal Auditors must observe auditing standards and professional ethical

norms. The purpose of consulting the opinions of the Board of Internal Auditors is to provide necessary

assurance for readers of the financial statements, Board of Directors and Board of Supervisors in assessing

the efficiency of the internal control system. Also, recommendations by the Board of Internal Auditors are

raised for the units to perfect their internal control system, and remedy the errors.


Opinions of Internal Auditors

Internal auditors have audited the interim and whole-year financial statements of 2013, and

monitored risk indicators as required, and hereby confirm that the financial statements in 2013 of

Eximbank are prepared in accordance with prevailing regulations and forms enclosed with Decision No.

16/2007/QD–NHNN dated April 18, 2007 by the State Bank of Vietnam providing for the financial

reporting regimes of credit institutions and Circular No. 52/2012/TT–BTC dated April 05, 2012 by the

Ministry of Finance giving guidance on the disclosure in the stock market.

In all material aspects, the figures reflected in the financial statements in 2013 of Eximbank have

been sufficiently, apparently, honestly and reasonably shown and independently audited by Ernst &

Young.

The financial indicators of Eximbank are within the permitted limits as defined by the State Bank

of Vietnam.

Internal auditors realize that the internal control system of Eximbank has been set up for all

operations, in all Main Transaction Office, branches and transaction offices, ensuring compliance and risk

control during their course of operation. Risks in operations are fully identified and assessed, thus proper

risk management policies are timely given in line with actual conditions.

Especially in 2013, general difficult progresses of Vietnam's economy and unfavorable business

environment directly affected the domestic financial-banking sector. Based on the State Bank of

Vietnam's regulations, Eximbank paid attention to analyze and evaluate such major risks as credit risk

(particularly actual status of credit quality), operational risk, market risk (particularly liquidity risk), legal

risk, and risks due to regulatory policies concerning banking activities. Through which, Eximbank's

leaders have issued appropriate decisions and had cautious movements in business policies so as for the

Bank to maintain stability and be able to develop in harmony with common growth pace of Vietnamese

banking sector.

In addition, regular supervision has also been given proper importance in all operational areas so

as to both promote businesses and ensure safety in activities. Controlling procedures including risk

management are sufficiently expressed in operational workflows and constantly improved to suit with

risk management objectives and development process of Eximbank.

From the opinions collected during several audits in 2013, the Board of Internal Auditors assesses

that the internal control system of Eximbank is in line with regulations of the State Bank of Vietnam, and

operates effectively and safely in the Bank's activities.


MILESTONES IN 2013

1. In April 2013, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) was bestowed

with “Best Managed Bank in Vietnam 2013” award by the Asian Banker Magazine. This affirmed

Eximbank's position in the local and international financial markets. The award was given based on in-

depth research by market professionals like analysts, fund managers according to such criteria as growth

rate, new business initiatives, profitability as well as network development.

2. In July 2013, EuroMoney, the prestigious English Magazine in international financial sector

(under Euromoney Institutional Investor PLC – the leading monthly magazine headquartered in England)

gave “Best Bank in Vietnam 2013” award to Vietnam Export Import Commercial Joint Stock Bank

(Eximbank).

3. In July 2013, Eximbank was awarded “Best Annual Report in 2013” by Ho Chi Minh City Stock

Exchange in association with Stock Investment Newspaper. This is the third consecutive year that

Eximbank's annual reports receive high votes during elections.

4. In August 2013, Eximbank continued to be ranked in Top 1,000 World Banks in 2013 by The

Banker, a leading magazine in the financial industry. Eximbank is honored to be in the list of the world's

leading banks for many consecutive years. Such ranking has proved Eximbank's outstanding growth in its

integration and development with the world's economy.

5. In November 2013, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and

Vinacomin – Minerals Holding Corporation entered into the credit finance agreement for the project of

“expansion and capacity improvement of Dong Sin Quyen mine, Lao Cai”. As mutually agreed, Eximbank

will finance 1,500 billion VND for the project within 10-year period.

6. In December 2013, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and JCB

International Co., Ltd. (JCBI) officially launched Eximbank – JCB Credit Card to diversify Eximbank's

products, satisfying various demands of customers. Eximbank is one of the first banks issuing JCB-

branded international card in Vietnam.


AWARDS

In March 2013, Eximbank was honored to receive the “Straight-Through Processing” Award

bestowed by The Bank of New York Mellon. This award is the recognition by a long-standing and

reputable foreign financial institution of Eximbank's automatic payment message quality.

In April 2013, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) was bestowed

with “Best Managed Bank in Vietnam 2013” award by the Asian Banker magazine.

In May 2013, Eximbank received the “Vietnamese brands' products integrating to WTO 2013”

award by the Vietnamese Brand Magazine.

In July 2013, Eximbank received “Best Bank in Vietnam 2013” award by EuroMoney magazine and

the “Best Annual Report in 2013” award by Ho Chi Minh City Stock Exchange in association with Stock

Investment Newspaper.

In August 2013, Eximbank was ranked in Top 1,000 World Banks by The Banker Magazine.

In October 2013, Eximbank was honored to be elected into the Top 100 Vietnamese Sustainable

Brands by Viet Brand Research, Application and Development Center.

In November 2013, Eximbank was honored to be elected into the Top 50 Golden Products and

Services in 2013 by Vietnam Intellectual Property Association.

In December 2013, Eximbank was awarded Top 100 Talented and Virtuous Managers and Top 100

Most Outstanding Enterprises by Vietnam Business Union.


COMMUNITY-ORIENTED ACTIVITIES

Apart from focusing on business development and brand promotion, Eximbank also expressed

its interests in and sharing towards the community, thus enhancing the Bank's image and brand value to

all social classes, and discriminating its trademark from other peers, by means of:

Living support for Spratly soldiers;

Educational sponsorship of scholarship funds, educational promotion associations, school

construction, etc.

Medical aid to poor people in way of offering health insurance cards, constructing medical

service units and consolidating the healthcare network.

Sponsorship of the construction of houses and bridges, gratitude programs, prevention of

natural disasters, and many other programs.

Over a year of implementing charity and community-oriented programs, Eximbank gave a hand

to share difficulties and and contribute to bring joy to the community and society, typically as:

Facilitating poor patients in Ho Chi Minh City to receive health insurance cards for free medical

treatment;

Offering 5000 lunch packs to poor people in Ho Chi Minh City for 6 months;

Offering more than 1000 scholarships for poor pupils and students with great desire for

education all over the countries, such as Da Nang, Quang Ngai, Ho Chi Minh City…;

Supporting the Fund for the Poor in Vung Liem District, Vinh Long Province to build and renovate

30 houses for families of war invalids, poor martyrs and those with meritorious services to the revolution.

Supporting the Youth Union of Ho Chi Minh City to implement 10 social programs;

Supporting the Elderly Care Fund of Ho Chi Minh City;

Supporting the construction and renovation of schools and kindergarten for children in remote

areas.

The sponsorship of charity and community-oriented programs has created great resonance for

Eximbank's brand name, and its image has also become familiar and touched people's hearts. The above

contributions have made the Bank's brand name be acknowledged and highly appreciated by the

community, associations and society.


OPERATING NETWORK

EXIMBANK'S REPRESENTATIVE OFFICE IN HANOI

EXIMBANK HANOI BRANCH

EXIMBANK HAI BA TRUNG BRANCH

EXIMBANK LONG BIEN BRANCH

EXIMBANK BA DINH BRANCH

Hang Bong Transaction Office

189 Hang Bong St., Hoan Kiem Dist., Hanoi.(Levels 1-5) Building No.91, Nguyen Thai Hoc St., Hanoi

Tel: (04) 3928 9945 Fax: (04) 3928 9943Tel: (04) 85853153 Fax: (04) 3933 6081

Trung Yen Transaction Office

19 Tran Hung Dao St., Hoan Kiem Dist., Hanoi. No. 1 Lot 12B, Trung Yen New Urban Area, Hanoi.

Tel: (04) 3824 2306 Fax: (04) 3826 7798 Tel: (04) 3786 8516 Fax: (04) 3786 8517

Nguyen Du Transaction Office Trung Hoa Transaction OfficeLevels 1+2, Build No. 76, Mai Hac De St., Hanoi. Lot NV, Nguyen Thi Dinh St., Hanoi.Tel: (04) 6278 3128 Fax: (04) 6278 3125 Tel: (04) 6251 1795 Fax: (04) 6251 1749

Bach Mai Transaction Office Tran Duy Hung Transaction OfficeLevels 2+3, Building No. 134, Bach Mai St., Hanoi. 83 Tran Duy Hung St., Cau Giay Dist., Hanoi.Tel: (04) 3627 4980 Fax: (04) 3627 6724 Tel: (04) 3556 1970 Fax: (04) 3556 1971

Hang Than Transaction Office Cua Dong Transaction Office18, Hang Than St., Ba Dinh Dist., Hanoi. 1 Duong Thanh St., Hoan Kiem Dist., Hanoi.Tel: (04) 3927 4349 Fax: (04) 3927 4350 Tel: (04) 3923 3681 Fax: (04) 3923 3680

Xuan Dieu Transaction Office Thang Long Transaction Office96 Yen Phu St., Yen Phu Ward, Tay Ho Dist., Hanoi. Technological Center, Thang Long Industrial Zone, Hanoi.Tel: (04) 3719 0692 Fax: (04) 3719 0693 Tel: (04) 3959 0175 Fax: (04) 3959 0177

Tay Ho Transaction Office

439 Tran Khat Chan St., Hai Ba Trung Dist., Hanoi509B Lac Long Quan St., Tay Ho Dist., Hanoi.

Tel: (04) 3627 4490 Fax: (04) 3627 4495Tel: (04) 3758 8035 Fax: (04) 3758 8025

Tay Son Transaction OfficePho Vong Transaction Office

130 Pho Vong St., Thanh Xuan Dist., Hanoi. 108 Tay Son St., Dong Da Dist., Hanoi

Tel: (04) 3628 8730 Fax: (04) 3628 8729 Tel: (04) 3533 4628 Fax: (04) 3533 4638

Ly Thuong Kiet Transaction Office

30 Ly Thuong Kiet St., Hoan Kiem Dist., Hanoi. 558 Nguyen Van Cu St., Long Bien Dist., Hanoi

Tel: (04) 3938 6994 Fax: (04) 3938 6995 Tel: (04) 3877 9108 Fax: (04) 3877 9111

Ba Trieu Transaction Office Dong Xuan Transaction Office

Levels 1-4, Building No. 2C, Thai Phien St., Hanoi. 67 Hang Bo St., Hoan Kiem Dist., Hanoi.

Tel: (04) 3278 0015 Fax: (04) 3278 0007 Tel: (04) 3929 0250 Fax: (04) 3929 0254

Nguyen Thai Hoc Transaction Office

Levels 1-2, Bld No. 91 Nguyen Thai Hoc St., HanoiLevels 1-2, HAREC Building No. 4A Lang Ha St., Hanoi.

Tel: (04) 3747 8940 Fax: (04) 3747 8941Tel: (04) 3776 3998 Fax: (04) 3776 3989

Lo Duc Transaction OfficeMy Dinh Transaction Office

Level 1, 73 Lo Duc St., Hai Ba Trung Dist., Hanoi.60 Lang Ha St., Lang Ha Wd., Dong Da Dist., Hanoi

Tel: (04) 39728517 Fax: (04) 39728 516Tel: (04) 3794 0146 Fax: (04) 3794 0145

NORTH REGION


EXIMBANK DONG DA BRANCH

EXIMBANK QUANG NINH BRANCH

EXIMBANK CAU GIAY BRANCH

EXIMBANK VINH BRANCH

EXIMBANK HAI PHONG BRANCH

Nomura Hai Phong Industrial Zone Transaction Office

Levels 1+ 2, Bld No. 292 Tây Sơn, Dong Da Dist., Hanoi Side gate of Nomura Industrial Zone, Hai Phong City.

ÑT: (04) 35737 732 Fax: (04).35737 738 Tel: (0313) 3291929 Fax: (0313) 3291 899

Kim Lien Transaction Office

206 Xa Dan St., Dong Da Dist., Hanoi. 14-16 Tran Hung Dao St., Ha Long City, Quang Ninh.

Tel: (04) 3573 7736 Fax: (04) 3573 8201 Tel: (033) 3518 585 Fax: (033) 3518 586

Tran Dang Ninh Transaction Office Cam Pha Transaction Office

6C Block 24, Nghia Do Wd., Cau Giay Dist., Hanoi 114 Tran Phu St., Block 30b, Cam Pha Town, Quang Ninh.

Tel: (04) 3793 1873 Fax: (04) 3793 1630 Tel: (033) 3962 828 Fax: (033) 3962 829

Ha Dong Transaction Office Mong Cai Transaction Office

24 Quang Trung St., Ha Dong, Hanoi. 01 Hung Vuong St., Mong Cai City, Quang Ninh.

Tel: (04) 6325 0172 Fax: (04) 6325 0180 Tel: (033) 3779 979 Fax: (033) 3779 777

Dong Tam Transaction Office Quang Yen Transaction Office

10 B2, Tran Dai Nghia St., Hai Ba Trung Dist., Hanoi 66 Le Loi St., Quang Yen Town, Quang Ninh.

Tel: (04) 3628 4715 Fax: (04) 3628 4701 Tel: (033) 3559 188 Fax: (033) 3559 299

Uong Bi Transaction Office

136 Hoang Quoc Viet St., Cau Giay Dist., Hanoi. 434 Quang Trung St., Uong Bi Town, Quang Ninh.

ÑT: (04) 37557 841 Fax: (04) 37557 535 Tel: (033) 3567 679 Fax: (033) 3567 689

Nguyen Co Thach Savings Fund Ha Long Transaction Office

Level 1 (A1 Building), My Dinh 1 Urban Area, Hanoi. Ground Floor, Post Office Building, Ha Long, Quang Ninh.

Tel: (04) 22213861 Fax: (04) 22213862 Tel: (033) 3815 585 Fax: (033) 3815 586

Nguyen Phong Sac Transaction Office

1st Floor, Sannam Building, Cau Giay Dist., Hanoi. 182 Nguyen Van Cu St., Vinh City, Nghe An.

Tel: (04) 37951 803 Fax: (04) 37951 804 Tel: (038) 3585 717 Fax: (038) 3585 722

Nam Vinh Transaction Office

32 Tran Phu St., Ngo Quyen Dist., Hai Phong City. 343 Le Duan St., Trung Do Ward, Vinh City, Nghe An

Tel: (031) 3757 578 Fax: (031) 375 7571 Tel: (038) 3552 838 Fax: (038) 3552 468

Tran Nguyen Han Transaction Office Bac Vinh Transaction Office

274 Tran Nguyen Han St., Le Chan Dist., Hai Phong City. 150 Nguyen Trai St., Vinh City, Nghe An

Tel: (031) 3786 963 Fax: (031) 3786 965 Tel: (038) 3513 537 Fax: (038) 3513 536

Lach Tray Transaction Office Thanh Chuong Transaction Office

221D Lach Tray St., Ngo Quyen Dist., Hai Phong City Block 4, Thanh Chuong Town, Nghe An

Tel: (031) 3653 596 Fax: (031) 3653 586 Tel: (038) 6933888 Fax: (038) 6932 555

To Hieu Transaction Office Yen Thanh Transaction Office

172 To Hieu St., Le Chan Dist., Hai Phong City. Block 1, Yen Thanh Town, Yen Thanh Dist., Nghe An

Tel: (031) 3611 996 Fax: (031) 3611 995 Tel: (038) 368 5555 Fax: (038) 368 5556


Dien Chau Transaction Office Cau Kenh Bac Transaction Office

Kiosk No.2, Dien Chau Trading Center, Nghe An 385 Nguyen Van Cu St., Vinh City, Nghe An

Tel: (038) 377 6776 Fax: (038) 360 2602 Tel: (038) 357 5556 Fax: (038) 357 5557

Do Luong Transaction Office

Block 3, Do Luong Town, Do Luong Dist., Nghe An

Tel: (038) 871 8668 Fax: (038) 871 8568

EXIMBANK QUANG NGAI BRANCH

EXIMBANK DA NANG BRANCH EXIMBANK QUANG NAM BRANCH

EXIMBANK HUE BRANCH

EXIMBANK NHA TRANG BRANCH

EXIMBANK HUNG VUONG BRANCH

EXIMBANK BUON MA THUOT BRANCH

Hoa Cuong Transaction Office

35A - 35B Hung Vuong, Quang Ngai City, Quang Ngai. 205 Phan Chau Trinh St., Hai Chau Dist., Da Nang City.

Tel: (055) 3713 318 Fax: (055) 3713 319 Tel: (0511) 3621 701 Fax: (0511) 3621 703

Tran Phu Transaction Officeù Thuan Phuoc Transaction Office

136 Hung Vuong Blvd., Quang Ngai City, Quang Ngai 180-182 Dong Da St., Hai Chau Dist., Da Nang

Tel: (055) 3714 173 Fax: (055) 3714 172 Tel: (0511) 3573 222 Fax: (0511) 3573 224

48 Tran Phu St., Hai Chau Dist., Da Nang City. 226-228 Phan Chu Trinh St., Tam Ky City, Quang Nam

Tel: (0511) 3830 889 Fax: (0511) 3826 674 Tel: (0510) 6252 246 Fax: (0510) 6252 247

Hai Chau Transaction Office Hoi An Transaction Office

484 Hoang Dieu St., Hai Chau Dist., Da Nang City. 22 Tran Hung Dao St., Hoi An City, Quang Nam

Tel: (0511) 3552 710 Fax: (0511) 3552 709 Tel: (0510) 3926 555 Fax: (0510) 3926 558

Thanh Khe Transaction Office

203 Ong Ich Khiem St., Hai Chau Dist., Da Nang City. 205 Tran Hung Dao St., Phu Hoa Ward, Hue City

Tel: (0511) 3751 736 Fax: (0511) 3751 735 Tel: (054) 3588 678 Fax: (054) 3588 603

Ham Nghi Transaction Office

90 Ham Nghi St., Thanh Khe Dist., Da Nang City. 63 Yersin St., Phuong Sai Ward, Nha Trang City

Tel: (0511) 3653892 Fax: (0511) 3653 891 Tel: (058) 3811 888 Fax: (058) 3826 715

Son Tra Transaction Office Quang Trung Transaction Office

410 Ngo Quyen St., Son Tra Dist., Da Nang City. 61A Quang Trung St., Loc Tho Ward, Nha Trang City

Tel: (0511) 3937 066 Fax: (0511) 3937 067 Tel: (058) 3228 075Fax: (058) 3528 068

Dien Khanh Transaction Office

151-153 Nguyen Van Linh St., Thanh Khe Dist., Da Nang. 246 Lac Long Quan, Dien Khanh Town, Nha Trang City

Tel: (0511) 3565 347 Fax: (0511) 3866 596 Tel: (058) 3895 595 Fax: (058) 3895 596

Dien Bien Phu Transaction Office Le Hong Phong Transaction Office

Lot 58, Dien Bien Phu St., Thanh Khe Dist., Da Nang City 584 Le Hong Phong St., Nha Trang City

Tel: (0511) 3720 474 Fax: (0511) 3720 473 Tel: (058) 3889 919Fax: (058) 3888 299

Cho Con Transaction Office

276 Hung Vuong St., Hai Chau Dist., Da Nang City. 114 – 116 Phan Boi Chau St., BMT City, Dac Lac

Tel: (0511) 3826 637 Fax: (0511) 3826 638 Tel: (0500) 6250 414 Fax: (0500) 6250 411

CENTRAL AND HIGHLANDS REGION


Buon Ho Transaction Office

327 Hung Vuong St., Buon Ho Wd., Dac Lac 2D-2D/1-2E Nguyen Van Troi St., Da Lat City, Lam Dong.

Tel: (0500) 3571 506/7/9 Fax: (0500) 3571508 Tel: (063) 3522 111 Fax: (063) 3522 115

Buon Ma Thuot Market Transaction Office Duc Trong Transaction OfficeKiost No.C21 BMT Market, Thong Nhat Wd., BMT 651 National Road No. 20, Duc Trong Dist., Lam Dong.Tel: (0500) 3936 668 Fax: (0500) 3936 667 Tel: (063) 3651 111 Fax: (063) 3651 115

Phan Chu Trinh Transaction Office Bao Loc Transaction Office240 Phan Chu Trinh St., Buon Ma Thuot City, Dac Lac 11 De Tham St., Ward 1, Bao Loc Town, Lam Dong.Tel: (0500) 3977 227/8/9 Fax: (0500) 3977 226 Tel: (063) 6260 090 Fax: (063) 6260 095

Le Duan Transaction OfficeChi Lang Transaction Office

420 Le Duan St., Buon Ma Thuot City, Dac LacBlock A7, Suong Mai Planning Area, Da Lat, Lam Dong.

Tel: (0500) 3934 848 Fax: (0500) 3934 747Tel: (063) 3565 153 Fax: (063) 3565 155

Nguyen Tat Thanh Transaction Office

316 Nguyen Tat Thanh St., Buon Ma Thuot City, Dac Lac

Tel: (0500) 3975 858 Fax: (0500) 3975 856

EXIMBANK DA LAT BRANCH

EXIMBANK DONG NAI BRANCH EXIMBANK BINH DUONG BRANCH

EXIMBANK BA RIA – VUNG TAU BRANCH

223 Ha Huy Giap St., Bien Hoa City, Dong Nai. 244 Binh Duong Blvd., Thu Dau Mot Town, Binh Duong

Tel: (0613) 3915 185 Fax: (0613). 3915 187 Tel: (0650) 3872 468 Fax: (0650) 3872 460

Long Thanh Transaction Office Cho Dinh Transaction Office

National Road 51A, Block 19, Long Thanh Dist., Dong Nai. 231 Yersin St., Thu Dau Mot Town., Binh Duong.

Tel: (061) 3501 777 Fax: (061) 3501 780 Tel: (0650) 3872467 Fax : (0650) 3872 464

Trang Bom Transaction Office Di An Transaction Office118 An Chu Hamlet, Trang Bom Dist., Dong Nai. 3/21 Tran Hung Dao St., Di An Dist., Binh Duong.Tel: (061) 8971 678 Fax: (061) 8971 677 Tel: (0650) 3736 965 Fax : (0650) 3736 967

Long Khanh Transaction Office My Phuoc Transaction Office245 Hung Vuong St., Quarter 5, Long Khanh Town, DN C4-Lot16 - Block I, Street No. DA1-1, Rupby Land, BDTel: (061) 3647 990 Fax: (061) 3647 456 Tel: (0650) 3556 245 Fax : (0650) 3556 246

Tan Tien Transaction OfficeTan Phuoc Khanh Transaction Office

113 Pham Van Thuan St., Bien Hoa City, Dong Nai.08 Block E, Tan Phuoc Khanh Trade Center, Binh Duong.

Tel: (061) 3940 898 Fax: (061) 3940 866Tel: (0650) 3659 001 Fax : (0650) 3659 003

Gia Kiem Transaction OfficeLai Thieu Transaction Office

5/E1 National Road No. 20, Thong Nhat Dist., Dong Nai.544A Nguyen Trai St., Lai Thieu Town, Binh Duong.

Tel: (061) 8911 444 Fax: (061) 8911 678Tel: (0650) 3636 036 Fax : (0650) 3636 037

Bien Hoa Transaction Office

881 Pham Van Thuan St., Bien Hoa City, Dong Nai.43 Tran Hung Dao St., Vung Tau City, Ba Ria Vung Tau.

Tel: (0613) 3915 999 Fax: (0613) 3915 888Tel: (064) 3513 674 Fax: (064) 3513 677

SOUTH-EASTERN REGION


Ba Ria Transaction Office Phuoc Tinh Transaction Office

112-114 Bach Dang St., Ba Ria Town, Ba Ria Vung Tau. 286 (T17) - Block 8, Tan Phuoc Hamlet, Ba Ria Vung Tau.

Tel: (064) 3717 531 Fax: (064) 3717 536 Tel: (064) 3673 738 Fax : (064) 3673 737

Tan Thanh Transaction Office Dong Xuyen Industrial Zone Transaction Office

Street No. 46, Tan Thanh Dist., Ba Ria Vung Tau. 771, 30/4 Street, Vung Tau City, Ba Ria Vung Tau.

Tel: (064) 3876 974 Fax : (064) 3876 976 Tel: (064) 6252 474 Fax : (064) 6252 475

Nguyen An Ninh Transaction Office

513 Nguyen An Ninh St., Vung Tau City, Ba Ria Vung Tau.

Tel: (064) 3584 433 Fax : (064) 3584 435

HO CHI MINH CITY REGION

MAIN TRANSACTION OFFICE

EXIMBANK SAIGON BRANCH

Hang Xanh Transaction Office

Building No. 66, Pho Duc Chinh St., Dist 1, HCM City. 155A-155B Dien Bien Phu St.,Binh Thanh Dist., HCM City.

Tel: (08) 38210 055 Fax: (08) 38296 063 Tel: (08) 54221 074 Fax: (08) 54221 075

Trung Son Transaction Office Van Thanh Transaction Office

2-4-6 Street 9A, Trung Son Residential Area, Binh Chanh 85,D2 Street, Van Thanh Bac, Binh Thanh Dist., HCM City.

Tel: (08) 54319 019 Fax: (08) 54319 018 Tel: (08) 35121 033 Fax: (08) 35122 400

Tao Dan Transaction Office

Viet Dragon Tower Building – 141 Nguyen Du St., Dist. 1. 28-30 Huynh Thuc Khang St., Dist. 1, Hochiminh City.

Tel: (08) 38270 800 Fax: (08) 38270 804 Tel: (08) 39143 152 Fax: (08) 39143 150

Le Loi Transaction Office Vo Van Tan Transaction Office

08 Le Loi St., Ben Nghe Ward, Dist. 1, Hochiminh City. 365 Vo Van Tan St., Ward 5, Dist. 3, Hochiminh City.

Tel: (08) 38222 162 Fax: (08) 38220 373 Tel: (08) 3818 1345 Fax: (08) 3818 1346

Minh Khai Transaction Office Da Kao Transaction Office

Ground Fl., 179EF CMT 8, Wd. 14, Dist. 3, HCM City. 23A-B Nguyen Dinh Chieu St., Dist. 1, Hochiminh City.

Tel: (08) 38329 877 Fax: (08) 38329 876 Tel: (08) 39110 163 Fax: (08) 39110 161

Truong Dinh Transaction Office Nguyen Cong Tru Transaction Office

Ground Fl., 24B Truong Dinh, Wd. 14, Dist. 3, HCM City. 130 Nguyen Cong Tru St., Dist. 1, Hochiminh City.

Tel: (08) 39330 046 Fax: (08) 39330 047 Tel: (08) 38215 212 Fax: (08) 38215 214

Ben Thanh Transaction Office Truong Son Transaction Office

36-38 Ngo Duc Ke St., Ben Nghe Ward, Dist 1, HCM City. 39B Truong Son St., Tan Binh Dist., Hochiminh City.

Tel: (08) 38271 011 Fax: (08) 38271 012 Tel: (08) 35470 768 Fax: (08) 35470 872

Thanh Da Transaction Office Phan Xich Long Transaction Office

629-631 XVNT St., Wd. 26, Binh Thanh Dist., HCM City. Ha Phan Building–05 Phan Xich Long St., Hochiminh City.

Tel: (08) 54453 380 Fax: (08) 54453 384 Tel: (08) 39959 498 Fax: (08) 39959 493

Bui Thi Xuan Transaction Office Thao Dien Transaction Office

Building No. 122A-B-C Bui Thi Xuan, Dist. 1, HCM City. 14R-14S Quoc Huong St., Dist. 2, Hochiminh City.

Tel: (08) 54043 380 Fax: (08) 54043 381 Tel: (08) 35194 215 Fax: (08) 35194 216


Ben Chuong Duong Transaction Office Ho Van Hue Transaction Office

327 Ben Chuong Duong, Dist. 1, Hochiminh City. 164 Ho Van Hue St., Phu Nhuan Dist., Hochiminh City.

Tel: (08) 38364 495 Fax: (08) 38364 675 Tel: (08) 39971 208 Fax: (08) 39973 758

Go Vap Transaction Office

141 Nguyen Chi Thanh St., Dist. 5, Hochiminh City 126 Nguyen Oanh St., Go Vap Dist., Hochiminh City.

Tel: (08) 39575 287 Fax: (08) 39575 290 Tel: (08) 39896 483 Fax: (08) 39896 485

District 6 Transaction Office Phan Dinh Phung Transaction Office

41 Hau Giang, Wd. 2, Dist. 6, Hochiminh City 130 Phan Dinh Phung St., Phu Nhuan Dist., HCM City.

Tel: (08) 39691 638 Fax: (08) 39606 947 Tel: (08) 3995 6925 Fax: (08) 39956 929

Kim Bien Transaction Office Nguyen Thai Son Transaction Office

250 Nguyen Thai Son St., Go Vap Dist., Hochiminh City.161 Hai Thuong Lan Ong St., Wd. 13, Dist. 5, HCM City.

Tel: (08) 39940 257 Fax: (08) 39940 259Tel: (08) 3854 7388 Fax: (08) 3854 7381

Ben Nghe Transaction Office Phu Tho Transaction Office

11A–11B Nguyen Thi Minh Khai St., Dist. 1, HCM City.286 Ly Thuong Kiet St., Wd. 14, Dist. 10, Hochiminh City.

Tel: (08) 39105 433 Fax: (08) 39105 594 Tel: (08) 3866 9620 Fax: (08) 3866 9622

Hong Bang Transaction Office

78 Nguyen Trai St., Wd. 3, Dist. 5 Hochiminh City.258 Hong Bang St., Ward 15, Dist. 5, Hochiminh City.

Tel: (08) 3924 5802 Fax: (08) 3924 5812Tel: (08) 39560 814 Fax: (08) 38556 333

Ky Hoa Transaction Office Hung Dao Transaction Office

773 Le Hong Phong (extended), Dist .10, Hochiminh City.466 Tran Hung Dao St., Wd. 2, Dist. 5, Hochiminh City.

Tel: (08) 38680398 Fax: (08) 38680 397Tel: (08) 39244 885 Fax: (08) 39244 889

Bui Huu Nghia Transaction OfficeAn Dong Transaction Office

81 Bui Huu Nghia, Wd. 5, Dist. 5, Hochiminh City.265 Tran Phu St., Wd. 8, Dist. 5, Hochiminh City.

ÑT: (08) 39244 782 Fax: (08) 39244 783Tel: (08) 3924 5863 Fax: (08) 3838 2553

Hoa Hung Transaction OfficeDistrict 8 Transaction Office

138 To Hien Thanh St., Wd. 15, Dist. 10, Hochiminh City.390-392 Pham Hung St., Wd. 5, Dist. 8, Hochiminh City.

Tel: (08) 39797 972 Fax: (08) 39797 971Tel: (08) 38523 290 Fax: (08) 38523 295

Ly Thai To Transaction Office

392-394 Ba Thang Hai St., Dist. 10, Hochiminh City.291 Ly Thai To St., Wd. 9, Dist. 10, Hochiminh City.

Tel: (08) 3868 1860 Fax: (08) 3868 1863Tel: (08) 39274 710 Fax: (08) 39274 715

Ba Thang Hai Transaction OfficeNhat Tao Transaction Office

530 Ba Thang Hai St., Wd. 14, Dist. 10, Hochiminh City.410 Nguyen Tri Phuong St., Wd. 4, Dist. 10, HCM City

ÑT: (08) 38687 490 Fax: (08) 38687 492Tel: (08) 39274 601 Fax: (08) 39274 605

Van Hanh Transaction Office

373 Su Van Hanh (extended), Wd. 12, Dist. 10, HCM City.48-50 Nguyen Huu Cau St., Dist. 1, Hochiminh City.

Tel: (08) 3868 0020 Fax: (08) 3865 9212Tel: (08) 38205 305 Fax: (08) 38205 301

EXIMBANK CHO LON BRANCH

EXIMBANK HOA BINH BRANCH

EXIMBANK DISTRICT 10 BRANCH

EXIMBANK TAN DINH BRANCH


Ban Co Transaction Office Nguyen Thi Thap Transaction Office

619 Nguyen Dinh Chieu St., Dist. 3, Hochiminh City. 527 Nguyen Thi Thap St., Dist. 7. Hochiminh City

Tel: (08) 3833 3424 Fax: (08) 3833 3427 Tel: (08) 37752 829 Fax: (08) 37752 831

Le Van Sy Transaction Officeõï Phu My Transaction Office

213 Le Van Sy St., Wd. 14, Dist. 3, Hochiminh City. No.07 Lot O, Hoang Quoc Viet St., Dist. 7, Hochiminh City.

Tel: (08) 35264 448 Fax: (08) 35264 449 Tel: (08) 37734 393 Fax: (08) 37734 394

Thanh Thai Transaction Office

61 Thanh Thai St., Wd. 14, Dist. 10, Hochiminh City. 19 Cong Hoa St., Wd. 12, Tan Binh Dist., Hochiminh City.

Tel: (08) 38651 675 Fax: (08) 38651 677 Tel: (08) 38121 617 Fax: (08) 38122 161

Minh Phung Transaction Office Vo Thanh Trang Transaction Office

90 Minh Phung St., Wd. 5, Dist. 6, Hochiminh City. 509 Truong Chinh St., Tan Binh Dist., Hochiminh City.

Tel: (08) 39699 790 Fax: (08) 39699 792 Tel: (08) 38123 619 Fax: (08) 38123 657

An Suong Transaction Office

31-33-27/1 Au Co St., Wd. 14, Dist. 11, Hochiminh City. 379-381 Truong Chinh St., Dist. 12, Hochiminh City.

Tel: (08) 39744 300 Fax: (08) 38652 892 Tel: (08) 35921 905 Fax: (08) 35921 908

Tan Binh Transaction Office Cu Chi Transaction Office

1115 Cach Mang Thang 8 St., Tan Binh Dist., HCM City. 886 National Road No.22, Cu Chi Dist., Hochiminh City.

Tel: (08) 39708 639 Fax: (08) 39708 641 Tel: (08) 37924 401 Fax: (08) 37924 402

Bac Hai Transaction Office Pham Van Hai Transaction Office

02 Bis Cuu Long St., Bac Hai Residential Block, HCM City. 156 Pham Van Hai St., Tan Binh Dist., Hochiminh City.

Tel: (08) 39708 907 Fax: (08) 39708 905 Tel: (08) 39919 824 Fax: (08) 39919 825

Au Co Transaction Office Nguyen Son Transaction Office

334-336 Au Co St., Tan Binh Dist., Hochiminh City. 230-232 Nguyen Son St., Tan Phu Dist., Hochiminh City.

Tel: (08) 39750 671 Fax: (08) 39750 672 Tel: (08) 39721 840 Fax: (08) 39721 841

Phu Lam Transaction Office

616 Hong Bang St., Wd. 16, Dist. 11, Hochiminh City. H2 Building, Hoang Dieu St., Dist. 4, Hochiminh City.

Tel: (08) 22293 660 Fax: (08) 62641 709 Tel: (08) 3941 4947 Fax: (08) 3941 4948

Dam Sen Transaction Office

377A Minh Phung St., Wd. 10, Dist. 11, Hochiminh City. 143 Khanh Hoi St., Wd. 3, Dist. 4, Hochiminh City.

Tel: (08) 38581 660 Fax: (08) 38582 595 Tel: (08) 39407 990 Fax: (08) 39407 991

Ly Tu Trong Transaction Office

448A Huynh Tan Phat St., Dist. 7, Hochiminh City. 232 Ly Tu Trong St., Dist. 1, Hochiminh City.

Tel: (08) 37733 063 Fax: (08) 37733 053 Tel: (08) 38246 822 Fax: (08) 38246 832

Phu Xuan Transaction Office Thi Nghe Transaction Office ø

6/8 Block 5, Nha Be Town, Nha Be Dist., Hochiminh City. 117-117A, XVNT St., Binh Thanh Dist., Hochiminh City.

Tel: (08) 38738 790 Fax: (08) 38738 805 Tel: (08) 35146 806 Fax: (08) 35146 804

EXIMBANK CONG HOA BRANCH




Khanh Hoi Transaction Office


EXIMBANK PHU MY HUNG BRANCH EXIMBANK BINH PHU BRANCH

EXIMBANK THU DUC BRANCH

EXIMBANK TAN SON NHAT BRANCH


EXIMBANK BINH TAN BRANCH

Vinamilk Tower, 10 Tan Trao St., Dist. 7, Hochiminh City. 30 Binh Phu St., Wd. 11, Dist. 6, Hochiminh City.

Tel: (08) 5413 5588 Fax: (08) 5413 5589 Tel: (08) 3755 4314 Fax: (08) 3755 4318

Pham The Hien Transaction Office Binh Tri Dong Transaction Office

721 Pham The Hien St., Wd. 4, Dist. 8, Hochiminh City. 211-213 Inner Belt Freeway, Binh Tan Dist., HCM City.

Tel: (08) 38521 153 Fax: (08) 38521 156 Tel: (08) 3817 0493 Fax: (08) 3817 0498

Tan Phong Transaction Office Tan Phu Transaction Office

1469 Nguyen Van Linh, My Toan Residential Area, Dist.7 611-611A Luy Ban Bich St., Tan Phu Dist., HCM City.

Tel: (08) 54123 765 Fax: (08) 54123 769 Tel: (08) 39761 881 Fax: (08) 39761 886

Binh Chanh Transaction Office

147A Vo Van Ngan St., Thu Duc Dist., Hochiminh City. B9/27 Hamlet No. 2 (National Road No. 1A), Binh Chanh

Tel: (08) 37225 450 Fax: (08) 37225 448 Tel: (08) 37608 354 Fax: (08) 37608 358

Phuoc Long Transaction Office Go Dau Transaction Office

479 Do Xuan Hop, Phuoc Long B Wd., Dist. 9, HCM City. 54 Go Dau St., Tan Phu Dist., Hochiminh City.

Tel: (08) 36400 869 Fax: (08) 36400 898 Tel: (08) 35594 200 Fax: (08) 35594 204

District 9 Transaction Office

35 Le Van Viet St., Hiep Phu Wd., Dist. 9, Hochiminh City. 307 Nguyen Van Troi St., Tan Binh Dist., Hochiminh City.

Tel: (08) 37360 864 Fax: (08) 37360 872 Tel: (08) 38456 370 Fax: (08) 38456 372

Tam Binh Transaction Office

141 National Road No. 1A, Thu Duc Dist., Hochiminh City. 42 (front side) Vo Van Tan St., Dist. 3., Hochiminh City.

Tel: (08) 37294 100 Fax: (08) 37294 065 Tel: (08) 3930 0653Fax: (08) 3930 0516

Le Van Ninh Transaction Office

12 Le Van Ninh St., Thu Duc Dist., Hochiminh City. 10 Kinh Duong Vuong St., Dist. 6, Hochiminh City.

Tel: (08) 38979 479 Fax: (08) 38979 582 Tel: (08) 37527 073 Fax: (08) 37527 076

District 2 Transaction Office An Lac Transaction Office

08 Tran Nao St., Binh Khanh 2 Hamlet, Dist. 2, HCM City. 478-476 Kinh Duong Vuong St., Binh Tan Dist., HCM City.

Tel: (08) 37402 961 Fax: (08) 37402 965 Tel: (08) 37527 991 Fax: (08) 37527 992

Linh Xuan Transaction Office

76 National Highway No. 1K, Block 3, Thu Duc Dist., HCM

Tel: (08) 37246 200 Fax: (08) 37246 204

SOUTH-WESTERN REGION

EXIMBANK AN GIANG BRANCH Long Xuyen Transaction Office

70-72 Hai Ba Trung St., Long Xuyen City, An Giang. 3/4 Ton Duc Thang St., Long Xuyen City, An Giang.

Tel: (076) 394 0880 Fax: (076) 394 0884 Tel: (076) 394 1881 Fax: (076) 394 1884

Chau Doc Transaction Office Phu Tan Transaction Office

73 Leâ Lôïi, P.Chaâu Phuù B, TX Chaâu Ñoác, tænh An Giang Trung Hoa Hamlet, Tan Trung Commune, Phu Tan Dist.,

Tel: (076) 356 5881 Fax: (076) 356 5884 Tel: (076) 3588 881 Fax: (076) 3588 884


Chau Phu Transaction Office

21 Tran Khanh Du St., Cai Dau, Chau Phu, An Giang 70 Hung Vuong St., Wd. 2, Tan An Town, Long An.

Tel: (076)3684 881 Fax: (076) 3684 884 Tel: (072) 3526 526 Fax: (072) 3526 527

Tan Chau Transaction Office

46 Thoaïi Ngoïc Haàu, Tx.Taân Chaâu, tænh An Giang 08 Phan Dinh Phung St., Ninh Kieu Dist., Can Tho City.

Tel: (076) 3536 881 Fax: (076) 3536 884 Tel: (0710) 3821 915 Fax: (0710) 3821 916

Cai Rang Transaction Office

77-79 Le Loi St., Wd. 1, My Tho City, Tien Giang. 171 National Road No. 1A, Cai Rang Dist., Can Tho City.

Tel: (073) 397 6977 Fax: (073) 397 6981 Tel: (0710) 3914 779 Fax: (0710) 3914 778

Cai Lay Transaction Office O Mon Transaction Office

41, 30/4 Street, Block 2, Cai Lay Dist., Tien Giang. 292–293 National Road No. 91, O Mon Dist., Can Tho City

Tel: (073) 3710 991 Fax: (073) 3710 995 Tel: (0710) 3817 280 Fax: (0710) 3817 281

Ap Bac Transaction Office An Hoa Transaction Office

366 Ap Bac St., Wd. 5, My Tho City, Tien Giang. 177D Nguyen Van Cu St., Ninh Kieu Dist., Can Tho City.

Tel: (073) 3977 700 Fax: (073) 3977 701 Tel: (0710) 3896562 Fax: (0710) 3896 563

An Phu Transaction Office

Lot P+R, Tran Van Kheo St., Ninh Kieu Dist., Can Tho City. 87, 30/4 St., Ninh Kieu Dist., Can Tho City.

Tel: (0710) 3763 053 Fax: (0710) 3763 052 Tel: (0710) 3733 449 Fax: (0710) 373 3448

Binh Thuy Transaction Office Tra Noc Transaction Office

308 CMT8 St., An Thoi Wd., Binh Thuy Dist.,Can Tho City. 37 Le Hong Phong St., Binh Thuy Dist., Can Tho City.

Tel: (0710) 388 0446 Fax: (0710) 388 0449 Tel: (0710) 3881 870 Fax: (0710) 3881 872

Thot Not Transaction Office

568 National Road No.91(Long Thanh A Area), Can Tho 477 Tran Phu St., Wd. 7, Bac Lieu City, Bac Lieu.

Tel: (0710) 3611 161 Fax: (0710) 3611 181 Tel: (0781) 6252 274 Fax: (0781) 6252 275

An Nghiep Transaction Office

174 Tran Hung Dao St., Ninh Kieu Dist., Can Tho City. 02-04 Pham Hong Thai, Rach Gia City, Kien Giang

Tel: (0710) 3733 124 Fax: (0710) 3733 125 Tel: (077) 3777 716 Fax: (077) 3777 717

Hung Loi Transaction Office

221A Ba Thang Hai St., Ninh Kieu Dist., Can Tho City.

Tel: (0710) 3783 018 Fax: (0710) 3783 019

EXIMBANK LONG AN BRANCH

EXIMBANK CAN THO BRANCH

EXIMBANK MY THO BRANCH

EXIMBANK TAY DO BRANCHÂ

EXIMBANK BAC LIEU BRANCH

EXIMBANK KIEN GIANG BRANCH


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TABLE OF CONTENTS Information Registered Vietnamese name Ngân hàng thương mại cổ phần Xuất nhập khẩu Việt Nam Registered English name Vietnam Export Import Commercial