CTG-Cap nhat ket qua KD quy 2.2023_EN_Final.pptx

1
2Q2023 & 1H2023
UPDATES
BUSINESS PERFORMANCE

HIGHLIGHTS IN 2Q2023 & 1H2023
DETAILED BUSINESS RESULTS IN 2Q2023 & 1H2023
MACRO-ECONOMIC AND BANKING INDUSTRY UPDATE
BUSINESS PLAN IN 2H2023
APPENDIX

TOTAL
ASSETS
LOANS TO
CUSTOMERS
CUSTOMER
DEPOSITS
TOI PROFIT
BEFORE TAX
CIR CREDIT
RISK
PROVISION
NPL DEBT
COVERAGE
RATIO
1,860
VND, Tn
1,359
VND, Tn
1,310
VND, Tn
34.8
VND, Tn
12.5
VND, Tn
26% 13.2
VND, Tn
1.27% 168.9%
2.9% (ytd) 6.6% (ytd) 4.9% (ytd)
15.9% (ytd)
8% (ytd) 1% (ytd)
28.1% (ytd)
0.03% (ytd)
19.5% (ytd)
Business performance in 1H2023 achieved positive results
Page 01
HIGHLIGHTS
IN
2Q2023
&
1H2023

193
180
2Q2023
2022
1,359
1,275
2Q2023
2022
231
242
2Q2023
2022
1,860
1,808
2Q2023
2022
Ongoing growth in key scale indicators compared to the end of 2022
Growth vs. 2022 2.9%
TOTAL ASSETS (VND, Tn)
PLACEMENT WITH & LOANS TO OTHER C.I (VND, Tn)
INVESTMENT SECURITIES (VND, Tn)
LOANS TO CUSTOMERS (VND, Tn)
TOTAL ASSETS STRUCTURE (%)
The bank’s total assets as of 30 June 2023 swelled by 2.9 per cent,
scaling up to 1,860 VND, Tn. In which, the main momentum comes
from: loans to customers up 6.6% ytd and investment securities up
7.2% ytd due to increased investment in debt securities issued by
C.I. Placement with & loans to other C.I decreased 4.8% ytd,
driven by the flexible shift among channels to use funding optimally
and efficiently.
Page 02
2022
2Q2023 71.5%
12.4% 10.4%
Loans to customers
Placement with & loans to other C.I
Investment securities
Trading securities
Cash and cash equivalents
Balances with the SBV
Derivative financial instruments
Long-term investments
Fixed assets
Other assets
3% 1.3%
68.8% 13.4%
10%
4.5%
1.6%
HIGHLIGHTS
IN
2Q2023
&
1H2023

113
91
2Q2023
2022
264
209
2Q2023
2022
5
105
2Q2023
2022
1,742
1,700
2Q2023
2022
Ongoing growth in key scale indicators compared to the end of 2022
2.5%
TOTAL LIABILITIES (VND, Tn)
Funding mobilization as of 30 June 2023 attained 1,742 VND Tn, (+2.5%
ytd). In which, balances with the Government & SBV declined
substantially by 94.8% ytd as VietinBank proactively reduced State
Treaury’s deposits to meet VietinBank’s fund balance needs in the
context of a surplus in customer deposits and abundant interbank liquidity
(deposits & borrowings from other C.I and valuable papers issued
increased by 26% and 23.3% ytd respectively) to diversify mobilization
channels and optimize the term structure of funding.
BALANCES WITH THE GOVT. AND THE SBV (VND, Tn)
94.8%
DEPOSITS & BORROWINGS FROM OTHER C.I (VND, Tn)
26%
TOTAL LIABILITIES STRUCTURE (%)
CUSTOMER DEPOSITS (VND, Tn)
Page 03
VALUABLE PAPERS ISSUED (VND, Tn)
23.3%
Due to the Govt. and the SBV
Deposits & borrowings from other C.I
Customer deposits
Other borrowed & entrusted funds
Valuable papers issued
Other liabilities
73.5%
12.3%
5.4%
6.2%
2.5%
75.2%
15.2%
6.5% 2.7%
2022
2Q2023
1,310
1,249
2Q2023
2022
Growth vs. 2022
Growth vs. 2022
Growth vs. 2022
Growth vs. 2022
0.3%
HIGHLIGHTS
IN
2Q2023
&
1H2023

Potential growth in profitability from core revenue engines
24.8
34.8
25.7
12.5
4.4
5.6
9.1
13.2
NII (excl.
Guarantee
fee)
NFI (incl.
guarantee
fee)
Other
income
TOI Operating
expenses
Net profit
before risk
provisions
Risk
provisions
PBT
Unit: VND, Tn
Page 04
Total operating income in 6M2023 reached 34.8
VND, Tn (+15.9% yoy), in which NFI maintained
good growth, recording 28.8% increase (compared to
the same period last year with 27.8%). Notably: (i)
NII (excl. guarantee fee) increased by 14.4% yoy,
driven by the Bank’s promotion of sustainable scale
growth along with optimal credit portfolio structure
and strict risk control; (ii) Income from FX trading
went up dramatically by 47.1% yoy, remaining at the
forefront among the top commercial banks in terms
of FX trading turnover and market share.
Net profit before risk provisions in 6M2023 stood
at 25.7 VND, Tn (up 17.4% yoy). Provision expenses
in the first half of 2023 touched 13.2 VND, Tn
(+28.1% yoy). Therefore, PBT in 2H2023 recorded at
12.5 VND, Tn (+8% yoy).
+14.4% +34.3% +10.4% +15.9% +11.9% +17.4% +28.1% +8%
YoY
HIGHLIGHTS
IN
2Q2023
&
1H2023

Consistent growth in funding with a shift to retail segment
Customer deposits in
2Q2023 increased by
4.9% ytd, in line with credit
growth, ensuring liquidity
ratios.
Compared with 2022, the
proportion of deposit for
retail segment went up
from 49.7% to 52%.
Page 05
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
(*): Figures according to FS excluding
FI segment.
CASA
Term deposits
VND
Foreign currencies
TERM DEPOSITS
6.5%
1,064
VDN,Tn
Vs. 2022
CASA (*)
1.8%
246
VDN,Tn
Vs. 2022
DEPOSIT MARKET SHARE
AS AT 31 MAY 2023
10.7%
(Source: SBV) Retail
SME
Large corp.
FDI
49,7% 14,1% 24,8%
CUSTOMER DEPOSITS BREAKDOWN BY TENOR
2Q2023 1,064 246
999 250
2022
audited
1Q2023 1,043 230
3Q2022 946 243
2Q2022 966 240
CUSTOMER DEPOSITS BREAKDOWN BY CURRENCY
2Q2023 94.3% 5.7%
94.4% 5.6%
2022
audited
1Q2023 94.3% 5.7%
3Q2022 94.5% 5.2%
2Q2022 94.8% 5.2%
CUSTOMER DEPOSITS BREAKDOWN BY TYPE OF BUSINESS
2Q2023 52% 12.6% 23.4% 8.5%
52.4% 12.9% 23.3% 8.5%
1Q2023
49.7% 14.1% 24.8% 8.6%
2022
audited
49.4% 12.8% 25.6% 9.1%
3Q2022
49.8% 12.6% 24.7% 9.5%
2Q2022
Unit: VND, Tn

Continuous outstanding growth in CASA funding from financial institutions
52.3% 50.0% 50.9% 46.9% 44.8%
39.0%
34.5% 31.6%
32.9%
31.0%
8.7%
15.5% 17.5% 20.1% 24.2%
2Q2022 3Q2022 2022
audited
1Q2023 2Q2023
Page 06
FI Retail Corporate
CASA FUNDING BREAKDOWN BY CUSTOMER SEGMENTS
SOLUTIONS FOR CASA GROWTH
CASA funding from F.I experienced an upward trend (from
17.5% to 24.2%), driven by abundant funding in the interbank
market.
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
Strongly improve tech-savvy products and services
and improve customer service quality.
Effectively deploy campaigns to attract new
customers using eFAST and iPay, opening
accounts through eKYC.
Deploy free account packages to promote customer
expansion and increase payment sales through
VietinBank system.

RETAIL
6.3%
503
VND, Tn
Loans balance continued to grow in company with a proactive shift in structure
Vs. 2022
Page 07
SME
3.3%
346
VND, Tn
Vs. 2022
LARGE CORP.
6.0%
422
VND, Tn
Vs. 2022
FDI
25.2%
75
VND, Tn
Vs. 2022
LOANS BREAKDOWN BY CUSTOMER SEGMENTS
Retail
SME
Large corp.
FDI
60
VND
Foreign currencies
2Q2023 503 346 422 75
487 339 421 70
1Q2023
473 335 399 60
2022
audited
458 330 388 62
3Q2022
446 331 395 64
2Q2022
Unit: VND, Tn
LOANS BREAKDOWN BY CURRENCY
2Q2023 92.7% 7.3%
93.8% 6.2%
2022
audited
1Q2023 93.7% 6.3%
3Q2022 92.8% 7.2%
2Q2022 92.1% 7.9%
60.0%
6.0%
34.0%
2Q2022
Short term Mid-term Long term
LOANS BREAKDOWN BY TENOR
59.7%
6.0%
34.3%
60.6%
6.5%
32.9%
62.4%
6.2%
31.5%
63.6%
5.9%
30.5%
3Q2022 1Q2023 2Q2023
2022 audited
Loan balance in 2Q2023 grew by
6.6% ytd. The segments
witnessing the highest growth rate
were retail (up 6.3% ytd) and FDI
(up 25.2% ytd).
In 2Q2023, loan structure was
shifted under the direction of
increasing retail & FDI segment
(retail rising from 36.6% in 1Q2023
to 37% in 2Q2023; FDI rising from
5.3% in 1Q2023 to 5.5% in
2Q2023) while decreasing large
corp segment (from 31.6% in
1Q2023 to 31.1% in 2Q2023).
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

Loan growth with a focus on highly potential industries/ fields
Wholesale & retail,
repairing of cars, motor
vehicles, moto cyles
Manufacturing &
processing
Trading &
services
Mining
Agriculture, forestry
& aquaculture
Logistics, information
and communication
Construction
Electricity, fuel
gas & hot water
Households
business
Other sectors
35.7%
21.8%
17.5%
6.3%
4.9%
0.6%
3.6%
1.8%
5.3%
2.4%
10.9%
30.2%
31.8%
32.6%
60.2%
58.6%
57.5%
3.3%
4.0%
4.4%
2Q2023
1Q2023
2022
Retail loans mainly focused on production & business and real
estate, accounting for 90.4% of total retail loans.
Real estates loans
was down from
32.6% to 30.2%
Production and business loans
went up from 57.5% to 60.2%
Consumer loans was down
from 4.4% to 3.3%
Real estates loans
Production & business loans
Car loans
Credit card
Consumer loans
Others
Page 08
33
8
24
49
66
73
86
238
297
485
LOANS BREAKDOWN BY SECTOR (30 JUNE 2023) RETAIL LENDING BREAKDOWN BY PRODUCT
LENDING MARKET SHARE AS AT 30 JUNE 2023
Source : CIC
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
Unit: VND, Tn

Well-managed debt quality conforming to the approved plan
NPL/OUTSTAND LOANS & DEBT COVERAGE RATIO
INCOME FROM BAD DEBT RECOVERY
Page 09
NPL/outstanding loans NPL Debt coverage ratio
NPL out of outstanding loans in 2Q2023
was managed at a level of 1.27%, below
than that in the same period of last year.
NPL coverage ratio in 2Q2023 was
168.9%.
Recovery from written-off bad debts in
6M2023 decreased by 6.4% yoy, however,
only in 2Q2023 increased by 60% yoy as
VietinBank prioritised resources and
implemented measures flexibly and
synchronously with the aim of speeding up
the process of handling and recovering
bad debts bank-wide.
In the remaining months of 2023, the Bank
will consistently strengthen risk
management practices and control bad
debt below 1.8% while increasing NPL
coverage ratio.
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023
2.1
4.3
5.4
0.6
2.0
1Q2022
1.0
In last quarter
In this quarter Unit: VND, Tn
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
189.6% 222.4% 188.4% 173.0% 168.9%
1.35% 1.42% 1.24% 1.28% 1.27%
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023

56.7%
42.2%
0.3%
0.8%
Flexibility and safety in investment portfolio
Unit: VND, Tn
53.8% 45.1%
0.3%
0.8%
FY 2022
2Q2023
178.2 187.2 180.4 200.5 193.3
1.3 1.3 1.6 1.4 1.6
2Q2022 3Q2022 4Q2022 1Q2023 2Q2023
Page 10
Investment portfolio as at 30 June 2023 reached 429 VND, Tn (+0.1% ytd).
In which:
Investment securities portfolio as at 30 June 2023 reached 193 VND, Tn,
up 7.2% ytd, mainly due to increased investment in debt securities issued
by credit institutions.
Trading securities portfolio as at 30 June 2023 amounted to 1.6 VND, Tn,
equivalent to the end of 2022.
Note: Investment portfolio does not include risk provision.
Trading securities Investment securities
Interbank Debt securities
Equity securities Long term investment
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

Liquidity positions remained robust
82.9%
82.3%
79.0%
82.6%
80.7%
27.2%
27.7%
25.7%
24.6%
22.6%
2Q2022
3Q2022
4Q2022
1Q2023
2Q2023
13.2%
14.8%
15.1%
13.2%
13.7%
Liquidity ratios of VietinBank continued to be well controlled and complied with regulatory limits of the SBV. Compared with
1Q2023, these ratios showed an improvement, specifically: (i) LDR ratio fell by 1.9 percentage points; (ii) the ratio of short-term
funds for medium and long-term loans dropped by 2 percentage points, far below the SBV’s requirement, implying that VietinBank
has great potential to boost medium and long-term loans; (iii) liquidity ratio increased by 0.5 percentage points, maintaining at a
safety level.
Note: Since 4Q2022, liquidity ratios are calculated according to the provisions of Circular 26 of the SBV.
Page 11
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
LIQUIDITY RESERVE RATIO
LDR RATIO
RATIO OF SHORT TERM
FUNDS FOR MEDIUM AND
LONG TERM LOANS

(*): Other income in service fee income include: Commission fee collected from
cooperation in selling life insurance with Manulife, fee collection from entrustment and
agency operations, fee collection from import - export LC….
NFI (including guarantee fee) in
6M2023 reached 4.4 VND, Tn
(+34.3% yoy) thanks to the
implementation of sales
promotion, coupled with the
improvement of service quality
to meet diverse and
comprehensive needs of
financial services of customers;
develop payment connection
platforms, diversify payment
channels and apply
digitalization in the field of
payment and trade finance. In
which, fee from guarantee.
increased by 40.2% yoy; fee
collection from payment
increased by 8.9% yoy; fees
from other activities increased
by 67% yoy.
Trade finance in 2Q2023
FX trading on interbank
market in 2Q2023
FX trading on client
market in 2Q2023
Payment turnover of
VietinBank’s card in 2022
Positive shift in fee structure
8.2% 7.5% 7.0% 8.6% 9.4%
31.5% 31.1% 30.9% 25.7% 27.9%
29.0% 27.9% 25.9%
23.2% 20.2%
31.3% 33.5% 36.2%
42.6% 42.6%
6M2022 9M2022 2022
audited
3M2023 6M2023
15.8%
11-13%
13.5%
13.8%
Page 12
Guarantee Settlement
Insurance service business Others
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

0.5
2.0
1.1
5.5
8.4%
Personnel expenses
Assets expenses
Administrative
expenses
Other expenses
15.6%
20.2%
13.9%
VietinBank’s operating cost efficiency continued to be
improved, prioritizing business directly related/ supported
activities, digital transformation, service quality improvement
and human resources with the aim to create a solid base for
the Bank’s sustainable development. VietinBank’s CIR ratio in
6M2023 was down to 26%, lower than 27% of 6M2022.
Continuous enhancement in effective use of operating expenses
27.0%
27.3%
29.6%
25.3%
26.0%
6M2022 9M2022 2022
audited
3M2023 6M2023
Breakdown of operating expense 6M2023
VND, Tn
vs. 6M2022
Page 13
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

7.06% 7.30% 7.59%
9.03% 9.04%
3.67% 3.76% 3.99%
5.58% 5.67%
2Q2022 3Q2022 2022
audited
1Q2023 2Q2023
Lending rate Deposit rate
2.83%
2.92% 2.93% 2.94%
2.90%
6M2022 9M2022 2022
audited
3M2023 6M2023
1.5%
1.3% 1.3%
1.3%
1.4%
19.3%
17.0% 16.7% 17.7% 18.0%
6M2022 9M2022 2022
audited
3M2023 6M2023
ROA ROE
Sustainable growth in business performance
Excess liquidity in the banking system driven by weak credit demand and
accelerated mobilization growth.
3.39% 3.45% 3.68%
4.92% 5.01%
6M2022 9M2022 2022
audited
3M2023 6M2023
NIM of VietinBank in 6M2023 reached 2.9%, showing an improvement on-year.
COF ratio in 6M2023 was 5.01%, increasing 1.41 point percent compared to that
in the end of 2022, following a sharp upward trend of deposit interest rate.
VietinBank’s ROA and ROE in 2Q2023 continued to improve yoy,
reaching 1.3% and 18.0% respectively.
Page 14
Increase the profitability of assets through increasing the proportion of
loans to customers with high efficiency in credit balance structure such
as SME, Retail.
Promoting the advantages of the financial ecosystem among branches
and subsidiaries of VietinBank.
Control cost of capital through attracting and increasing the proportion of
payment deposits and short-term deposits; implementing international
loan contracts to support the balance with reasonable costs.
Control of asset quality well, identify risks early, strengthen control of
NPLs and problem debts as well as recover NPLs and written-off debts.
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

Open API
Until now, the number of
API-via transaction ~25%
total transactions on
VietinBank’s channels
Corebanking, EDW
with advanced technology
systems such as SOA, LOS …
to help the Bank take
pioneering role in technology
infrastructure
Chatbot
As of now, there are 8 internal
bots, 1 bot with customers
and upcoming voice bot
Biometric Kiosk
Up to now, there are 53 branches
using and collecting data of more
than 4 million customer account
numbers
eKYC, FacePAY, Robotics
Process Automation
The process of pledging savings
books reduces working time by 65%
Cloud Computer
iPay web helps to save more
than 100 servers compared
to on-premies solution
API
Key milestones in technology
Page 15
2017
2018
2019
2020
2021
2022
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

Promote solutions to develop retail segment toward an improvement in competitive edge and
market share
PROPORTION OF TRANSACTIONS VIA iPAY
CHANNEL OUT OF TOTAL TRANSACTIONS
OF INDIVIDUAL CUSTOMERS
Until 2Q2023, nearly 90% of retail transaction
are made via iPay, up 6.4% compared to that of
2022.
86% 87% 87%
2022 2Q2023
More than features & utilities integrated
in VietinBank iPay to help users enjoy the fullest
and most optimal life according to the “All in
one” criterion.
Over suppliers connected to fully
meet the needs of customers with the motto
“thousands of features, hundreds of utilities”,
2022
1Q2023
2Q2023
6.7
7.0
NUMBER OF CUSTOMERS USING IPAY
745
244
NUMBER OF TRANSACTION VIA iPAY CHANNEL
As of 30 June 2023, VietinBank iPay has approximately 7
million individual customers using iPay, up to 27.4%
compared to that of 2022; reaching 501 million transactions
with a recorded 64.3% yoy increase.
Page 16
yoy
64.3%
yoy
27.4%
Unit: Million customers
Unit: Million transaction
2022
1Q2023
2Q2023
1Q2023
6.3
501
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023
VietinBank eFAST digital banking
platform for corporate customers is
considered a "digital financial assistant"
with more than 130 features.
eFAST is a professional, understanding,
dedicated, user-friendly and completely
free application for businesses.
VietinBank eFAST is the only
representative of Vietnam to win the
award "Most Innovative Digital Bank in
Asia Pacific" by Asian Banker.
2022
1Q2023
2Q2023
NO. OF CORPORATES USING eFAST
NO. OF TRANSACTION VIA eFAST CHANNEL
TRANSACTION VALUE VIA eFAST CHANNEL
yoy
20.9%
yoy
5.7%
yoy
26.1%
Unit: VND, quadrillion
210
80% 81% 82%
2021 1Q2023 2Q2023
PROPORTION OF TRANSACTIONS
VIA DIGITAL CHANNEL OF
INSTITUTIONAL CUSTOMERS
Digital channel conversion rate of
institutional customers in 6M2023 enjoyed
steady growth, reaching 82%.
Page 17
VietinBank spearheading the application of banking app for corporate customers
Unit: Thousand customers
Unit: Million transaction
200
192
33
8.3
16.6
5.1
1.4
2.9
2022
1Q2023
2Q2023
2022
1Q2023
2Q2023

Key highlights
In 2Q2023, VietinBank enjoyed credit growth rate of 6.6%, higher than industry average of 4.73%, with a focus on
oriented and selective growth in manufacturing and business activities, supply of staple goods and services. Funding
mobilization was balanced with credit growth rate, ensuring compliance with the SBV’s liquidity safety ratios. In which
deposits of customers grew by 4.9% ytd.
VietinBank’s NPL ratio was still well-managed at 1.27%, below than that of 2022. NPL coverage ratio was maintained at
a high level (168.9%), continuing to strengthen financial provision buffer for the Bank’s activities in the coming time.
Page 18
SCALE
METRICS
NII grew positively by 26.4% yoy while its proportion to TOI kept growing up, reaching 28.8% (the same period in 2022
reached 27.8%). Specifically:
 Net service revenue scaled up by 34.3% yoy, of which trade finance and guarantee fees ….
 Income from FX trading ascended by 47.1% yoy, continuing to be a leader in terms of both sales and market share
of FX trading
 Recovery from written-off bad debt reached over 2 trillion dong, proactively contributing to the Bank’s operational
efficiency.
NIM in 6M2023 improved compared to the same period last year. CIR ratio is well-controlled, remaining among the
lowest in the banking sector.
QUALITY
METRICS
EFFICIENCY
METRICS
DETAILED
BUSINESS
RESULTS
IN
2Q2023
&
1H2023

8.0%
5.3%
5.8% 5.5%
6.5%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
Thực hiện CIEM IMF MUFG
2022 2023F
Min scenario Max scenario
6.71%
0.36%
6.61%
7.72%
4.14%
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2
2019 2020 2021 2022 2023
Source: GSO, VECM (July23), IMF (October22), MUFG (T1/23), IHS Markit
Economic growth lower than the Government’s scenario in the context of declining global demand
Consumer prince
index declined
sharply from 4.89%
in Jan to 2.0% in
June, leading to the
average CPI in
1H2023 lowered to
3.29%, core inflation
increased by 4.74%.
PMI in June stood at 46.2
points, remaining below 50
points for the fourth
consecutive month.
Industry-wide IIP index in
6M2023 dropped by 1.2%
yoy (in the same period last
year, increased by 9.1%)
Newly registered FDI capital reached
13.4 billion USD (-4.3% yoy), while
disbursed FDI at 10.02 billion USD
(+0.5% yoy).
Public disbursement fell short of
expectations (6M2023 attained 232
VND, Tn, +21% yoy, reaching 33%
of the annual target, lower than the
same period last year reaching 35%)
GDP in 6M2023 swelled by
3.72% with the main impetus
from: service (+6.33%,
contributing 78.85%);
agriculture, forestry and
fisheries (+3.07%,
contributing 9.28%); industry
and construction (+1.13%,
contributing 11.87%).
Retail sales of goods and
services experienced a
slowdown in 6M2023
(+10.9% yoy, if excluding
the increase of price factor
by 8.44% yoy) and China’s
recovery did not have
major impact on tourism.
Trade surplus in
6M2023 amounted to
12.25 VND, Tn, in
which export fell
12.1% yoy and import
fell by 18.2% yoy.
Page 19
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3
2019 2020 2021 2022 2023
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
0
10
20
30
40
50
60
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5
2019 2020 2021 2022 2023
201 214 234 235
19 30 36 39
254 265 292 331
376
660
739 752
850
1,170
1,301 1,358
Q2 Q2 Q2 Q2
2020 2021 2022 2023
-40.00%
-20.00%
0.00%
20.00%
40.00%
60.00%
80.00%
0
100000
200000
300000
400000
500000
600000
1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6
2021 2022 2023
Vs forecast at the beginning
of the year
Growth rate
Sales volume (VND, Bn) Export Import Trade balance
PMI Balanced PMI IIP
Private capital State-related capital Other capital
FDI capital Total
Average CPI (ytd)
Core inflation (yoy)
CPI (yoy)
Crude oil WTI
2.8
-1.0
-2.0
4.0
0.8
1.0
7.0
11.0
4.1
12.3
(4.00)
(2.00)
-
2.00
4.00
6.00
8.00
10.00
12.00
14.00
-
50.00
100.00
150.00
200.00
250.00
300.00
350.00
400.00
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2021 2022 2023
MACRO-ECONOMIC
AND
BANKING
INDUSTRY
UPDATE
Realized
2022

 Low credit growth in 2Q2023 (+4.73% ytd and
9.3% yoy) derived from weak motivation of
businesses for manufacturing expansion under
the impact of global demand decline and high
production costs.
 Low mobilization growth, equivalent to that in
Covid period (+4.2% ytd và 7.3% yoy), mainly
from individual deposits, while institutional
deposits declined in comparison with the
beginning of the year.
 The US monetary policy maintains a tough stance in restrictive
monetary policy: raising interest rates 3 times in 6M2023 (from 4.5%
to 5.25%) at a more moderate pace than 2022, only 0 .25%/time,
aiming to reach the inflation target rate of 2%.
 EU inflation tends to decrease but at a slow rate. ECB confirmed to
continuous tightening monetary policy as the inflation forecast
remains above 2% until 2025. ECB policy rate increased from 2.0%
to 3.5% in 6M2023.
 SBV has cut interest rate for 4 times in favor of capital access for
businesses and people, contributing to a recovery in production and
and economic growth. Average interbank overnight interest rate
dropped from 1.12% at the end of 1Q2023 to 0.44% at the end of
2Q2023.
 Maintained trade surplus kept the exchange rate less volatile under
the impact of negative USD-VND gap in interest rate.
 Excessive liquidity in the banking system amid weak credit demand
and accelerating mobilization growth.
Source: SBV, GSO
 Exports still fall due to weakening global
demand under the impact of tightening
monetary policies of the US and Europe.
This policy is forecast to continue to
reach the inflation target.
 Domestic consumption still decelerate
due to the fact that the number of
international tourists has not yet
increased to the level of the pre-
pandemic level and domestic businesses
are underperformed.
 Monetary policy oriented to remain
loose and flexible in order to control
inflation, achieve monetary stability, credit
growth of 14% in accordance with the
guideline from the beginning of the year.
 Continued expansionary fiscal policy
in favor of businesses overcoming
difficulties by approving a series of
resolutions to reduce VAT, environmental
protection tax, registration fee....
 Business activities of firms have not
shown an improvement yet. Bad debts,
contingent debts continue to impact on
asset quality of banking system, giving
rise to the requirement of safe credit
growth.
Slowdown in credit growth, excessive liquidity, reduced interest rate, stable
exchange rate
Page 20
6.7%
4.7%
3.8%
4.8%
4.2%
4.1%
2.3%
3.4% 3.3%
4.7%
Q2/2019 Q2/2020 Q2/2021 Q2/2022 Q2/2023
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
0
0.02
0.04
0.06
0.08
0.1
0.12
1/3/2022
1/17/2022
1/31/2022
2/14/2022
2/28/2022
3/14/2022
3/28/2022
4/11/2022
4/25/2022
5/9/2022
5/23/2022
6/6/2022
6/20/2022
7/4/2022
7/18/2022
8/1/2022
8/15/2022
8/29/2022
9/12/2022
9/26/2022
10/10/2022
10/24/2022
11/7/2022
11/21/2022
12/5/2022
12/19/2022
1/2/2023
1/16/2023
1/30/2023
2/13/2023
2/27/2023
3/13/2023
3/23/2023
4/4/2023
4/19/2023
5/3/2023
5/17/2023
5/31/2023
6/14/2023
6/28/2023
7/13/2023
INTEREST RATES
0
2
4
6
21500
22000
22500
23000
23500
24000
24500
25000
25500
1/1/2022
1/12/2022
1/23/2022
2/3/2022
2/14/2022
2/25/2022
3/8/2022
3/19/2022
3/30/2022
4/10/2022
4/21/2022
5/2/2022
5/13/2022
5/24/2022
6/6/2022
6/21/2022
7/6/2022
7/21/2022
8/5/2022
8/22/2022
9/6/2022
9/21/2022
10/6/2022
10/21/2022
11/7/2022
11/22/2022
12/7/2022
12/22/2022
1/6/2023
1/23/2023
2/7/2023
2/22/2023
3/9/2023
3/22/2023
4/4/2023
4/19/2023
5/4/2023
5/19/2023
6/5/2023
6/20/2023
7/5/2023
EXCHANGE RATE
Deposit growth rate (%) Credit growth rate (%)
2Q2019 2Q2020 2Q2021 2Q2022 2Q2023
O/N avg. interbank rate 1M avg. interbank rate Discount rate
Central rate VCB selling rate FED rate
MACRO-ECONOMIC
AND
BANKING
INDUSTRY
UPDATE

VietinBank continues to promote in-depth development strategy in 2023
BUSINESS
PLAN
IN
2H2023
Page 21
DEBT QUALITY CONTROL AND CREDIT RISK
MANAGEMENT
IMPROVEMENT OF SERVICE QUALITY
INCREASE IN LABOR PRODUCTIVITY
EFFICIENT MANAGEMENT OF CAPITAL BALANCE
DEVELOPMENT AND IMPLEMENTATION OF DIGITAL
TRANSFORMATION STRATEGY
CASA growth: with the goal of improving cost of fund,
reducing pressure on NIM.
Non-interest income growth: with focus on promoting trade
finance and international payment, guarantee, insurance and
cards.
Exploitation of ecosystem and cross-selling: through
promoting the exploitation of payroll customers and serving
ecosystems of customers and chains.
On-going written-off debts collection and strengthening
debt settlement model.

TOTAL ASSETS
Up 5 – 10%
01 02 03
04 05 06
Business plan for 2023
Page 22
CREDIT EXPOSURE
(in accordance with
SBV’s approval)
FUNDING
(Growth in line with
credit growth)
PROFIT BEFORE
TAX
(According to the
State Authority’s
approval)
NPL
< 1.8%
DIVIDEND PAYOUT
(According to the
State Authority’s
approval)
BUSINESS
PLAN
IN
2H2023

Promote solutions to develop retail segment toward an improvement in competitive
edge and market share
Page 23
PREMIUM BANKING
− Segment with high
proportion of CASA
AFFLUENT
− Potential segments
for new services
MASS AFFLUENT
− Segment with large
proportion of
customers
IMPROVING THE EFFICIENCY OF RETAIL LOANS PORTFOLIO
Focusing resources on growth of retail loans to increase the proportion of retail
to total outstanding loans (to 40% on average); Restructuring portfolio into high
NIM efficient products; Improving the structure of retail loans, approaching the
balance structure of competitive banks…
GROWING CASA AND FUND MOBILIZATION
Accelerating CASA growth; promoting advantages of transaction network,
improving measures to retain and attract new priority customers, strengthening
communication of VietinBank's brand identity in the area to exploit and develop
the source of term deposits...
IMPROVING NON-INTEREST INCOME AND OPTIMIZING COST
Promoting card and insurance activities to bring in important fee revenue in
2023 and the following years; Actively promoting and implementing new fees;
increasing exploitation of new products and services for retail customers…
DEVELOPING NEW CUSTOMERS THROUGH ECOSYSTEM OF
CORPORATE CUSTOMER AND DIGITAL ECOSYSTEM
Promoting activities from Fintech ecosystem; speeding up cross-selling
activities; packaging products and services to the final distribution chains;
developing partner network through eKYC, ecosystem on iPay, eFAST…
BUSINESS
PLAN
IN
2H2023

SMART QUEUING SYSTEM
Biometric identification
technology, shortening
transaction time for customers
at the counter by 30-40%.
CHATBOT SOLUTION
Technology solutions that apply
machine learning technology and
artificial intelligence to interact with
people.
ROBOTICS TECHNOLOGY SOLUTION
Deploying software robots to perform
operational tasks instead of humans.
OPEN API TECHNOLOGY SOLUTION
Easily connect with partners, helping
VietinBank build and expand the
ecosystem.
CLOUDS COMPUTING
TECHNOLOGY SOLUTION
Optimizing resources
infrastructure, flexible in using
and operating the system
Tiếp tục triển khai mạnh mẽ chuyển đổi số
Continue to vigorously implement digital
transformation to provide convenient and
outstanding products and services to customers
01 Building a modern, convenient, streamlined,
customer-oriented distribution channel.
02 Connecting partners, building a customer-
centric ecosystem.
03 Streamline business processes, increase
labor productivity.
04
Applying Big data, AI, Machine Learning to
data analysis.
05 Researching and deploying new
technologies.
Digital transformation to enhance customer
experience, put customers at the center to
develop comprehensive financial solutions
for customers.
Digital transformation to improve internal
efficiency of the bank.
Treat data as the bank's assets, exploit and
enrich to improve management and
business capacity.
Researching and applying new
technologies to operations, experimenting
with breakthrough technologies, helping to
save resources, costs and increase
efficiency.
VietinBank continues expanding the scope of new technology application, creating breakthrough in digital
transformation journey
Page 24
06 Investment in security and network safety

CTG stock performance
90%
95%
100%
105%
110%
115%
120%
125%
130%
135%
140%
12/30/2022 1/30/2023 2/28/2023 3/31/2023 4/30/2023 5/31/2023 6/30/2023
CTG VCB BID MBB STB ACB TCB VPB VNIndex
INDICATORS VALUE
Closing price of the1st trading
session of 2023 (03/01/2023)
Closing price of the last trading
session of 2Q2023 (30/06/2023)
Price fluctuations in 6M2023
Trading volume in 6M2023
Trading value in 6M2023
Trading volume of foreign
investors in 6M2023
Foreign ownership (30/06/2023)
EPS (30/06/2023)
P/E (30/06/2023)
BVPS (30/06/2023)
P/B (30/06/2023)
28,000 VND/share
29,500 VND/share
27,400 – 31,100 VND/share
462,247,178 shares
15,300 billion VND
Net selling 33,609,820 shares
27.15%
1,083 VND per share
27.3x
24,566 VND per share
1.20x
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
25
26
27
28
29
30
31
32
30/12/2022 30/01/2023 28/02/2023 31/03/2023 30/04/2023 31/05/2023 30/06/2023
Volume (thousand unit) CTG price (thousand VND)
Page 25
APPENDIX

Balance sheet
INDICATORS 2020 2021 2022 1Q2023 2Q2023 2Q2023 vs. 2022 2Q2023 vs. 1Q2023
ASSETS
Cash, gold and gemstones 9,930 11,331 11,067 10,510 10,174 -8.1% -3.2%
Balances with the State Bank of Vietnam (“SBV”) 57,617 23,383 29,727 22,480 23,584 -20.7% 4.9%
Placements with and loans to other credit institutions 102,533 149,317 242,432 207,791 230,783 -4.8% 11.1%
Trading securities 5,602 2,475 1,406 1,146 1,442 2.5% 25.8%
Derivative financial instruments &
other financial assets
137 1,455 3,059 2,157 1,371 -55.2% -36.4%
Loans to customers 1,015,333 1,130,668 1,274,822 1,333,109 1,359,357 6.6% 2.0%
Provision for credit losses of loans to customers (12,582) (25,795) (29,764) (29,470) (29,228) -1.8% -0.8%
Investment securities 114,942 177,545 180,313 200,465 193,232 7.2% -3.6%
Long-term investments 3,336 3,290 3,519 3,547 3,270 -7.1% -7.8%
Fixed assets 10,825 10,496 10,202 10,057 9,868 -3.3% -1.9%
Other assets 33,838 47,423 81,646 62,170 56,253 -31.1% -9.5%
Total assets 1,341,510 1,531,587 1,808,430 1,823,962 1,860,105 2.9% 2.0%
LIABILITIES AND OWNERS’ EQUITY
Borrowings from the Government and the SBV 44,597 33,294 104,779 100,059 5,438 -94.8% -94.6%
Deposits & borrowings from other credit institutions 128,519 138,834 209,430 177,279 263,938 26.0% 48.9%
Deposits from customers 990,331 1,161,848 1,249,176 1,272,350 1,310,048 4.9% 3.0%
Financing funds, entrusted funds & exposed funds 2,733 2,528 2,392 2,319 2,406 0.6% 3.8%
Valuable papers issued 59,876 64,497 91,370 111,592 112,618 23.3% 0.9%
Other liabilities 30,014 36,937 43,114 47,418 47,595 10.4% 0.4%
Total liabilities 1,256,071 1,437,938 1,700,262 1,711,017 1,742,044 2.5% 1.8%
Capital 46,725 57,548 57,868 57,868 57,868 0.0% 0.0%
In which: Chartered capital 37,234 48,058 48,058 48,058 48,058 0.0% 0.0%
Reserves 11,606 13,673 16,075 16,075 16,086 0.1% 0.1%
Foreign exchange differences 482 245 121 75 7 -94.3% -90.9%
Undistributed profit 26,001 21,488 33,364 38,167 43,294 29.8% 13.4%
Total owners’ equity 85,439 93,650 108,168 112,945 118,060 9.1% 4.5%
Non-controlling Interests 600 695 739 759 806 8.9% 6.2%
Total liabilities and owners’ equity 1,341,510 1,531,587 1,808,430 1,823,962 1,860,105 2.9% 2.0%
Unit: VND, Bn
Page 26
APPENDIX

Income statement
INDICATORS 2020 6M2022 6M2023 6M2023 vs. 6M2022
Interest and similar income 83,677 84,628 104,651 47,191 66,877 41.7%
Interest and similar expenses (48,097) (42,840) (56,721) (25,032) (41,453) 65.6%
Net interest and similar income 35,580 41,788 47,930 22,159 25,424 14.7%
Fees and commission income 8,359 9,573 11,774 5,149 6,243 21.3%
Fees and commission expenses (3,996) (4,612) (5,685) (2,311) (2,458) 6.4%
Net gain/(loss) from fees & commission income 4,362 4,961 6,089 2,838 3,785 33.3%
Net gain/(loss) from trading of foreign currencies 2,000 1,812 3,570 1,597 2,349 47.1%
Net gain/(loss) from securities held for trading 601 496 (90) 56 230 306.3%
Net gain from investment securities 361 224 (36) (2) 17 -1,087.5%
Net gain from other activities 1,929 3,398 6,605 2,989 2,798 -6.4%
Income from investments in other entities 524 477 512 373 188 -49.7%
Non-interest income 9,778 11,368 16,691 7,852 9,366 19.3%
Total operating income 45,357 53,157 64,580 30,011 34,790 15.9%
Operating expenses (16,069) (17,186) (19,304) (8,093) (9,057) 11.9%
Net profit before provision for credit losses 29,288 35,971 45,277 21,918 25,733 17.4%
Provision expense for credit losses (12,168) (18,382) (24,163) (10,310) (13,202) 28.1%
Profit before tax 17,120 17,589 21,113 11,608 12,531 8.0%
Corporate income tax expense (3,335) (3,374) (4,141) (2,229) (2,436) 9.3%
Profit after tax 13,785 14,215 16,972 9,379 10,095 7.6%
Non-controlling Interests (65) (127) (64) (69) (85) 22.7%
Owners’ net profit after tax 13,720 14,089 16,908 9,309 10,010 7.5%
Unit: VND, Bn
2021
Page 27
2022
APPENDIX

Calculations of financial ratios
NPL Bad debts / Total loans to customers
Debt coverage ratio Provision for credit losses on loans to customers / Bad debts
Highly liquid assets
Cash, gold and gemstones + Balance with the SBV + Placement with & loans to other C.I + Govt.
bond
Liquidity reserve ratio Highly liquid assets / Total liabilities
ROA Profit before tax / Average total assets
ROE Profit after tax / Average total equity
NIM Net interest income / Average profitable assets
COF Net interest expense / Average interest payable debt
CIR Operating cost / Total operating income
Page 28
FINANCIAL RATIOS FORMULA
APPENDIX

No. 108 Tran Hung Dao Str., Hoan Kiem Dist., Hanoi +84 24 39413622 investor@vietinbank.vn
(Click on below titles/images to access link ▼)
More information about VietinBank in other publications
Page 29
Quarterly issue
INFORMATION UPDATED ON WEBSITE
www.investor.vietinbank.vn
INVESTOR BUSINESS UPDATE
Investor Relations – Secretariat to the BoD & Investor
Relations – Office of the Board of Directors
APPENDIX

37
DISCLAIMER:
This material was prepared using financial statements
and other reliable sources with the aims to provide
information only. It is recommended to use this material
as a source of reference only. The information might be
updated from time to time and it is not our responsibility
to notify about those changes (if any).

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