Shifting capital structure at Vietnam Joint Stock Commercial Bank for Industry and Trade - 17

[13]. Associate Professor, Dr. Dinh Xuan Hang & Dr. Nghiem Van Bay (2014), Credit Management Textbook , Finance Publishing House.

[14]. Dr. Tran Thi Hong Hanh (2011) “ Solutions to shift the credit structure of the banking system in line with the goals and orientations of socio-economic development in the period 2010-2015 ”, Industry-level scientific research topic, defended at the Science Council, State Bank of Vietnam.

[15]. Trinh Hong Hanh (2016) “ Solutions to improve the quality of asset and liability management at the Bank for Agriculture and Rural Development of Vietnam”, PhD thesis in Economics, Banking Academy.

[16]. Phi Thi Hang (2014) “Transformation of labor structure by industry in Thai Binh in the current period” PhD thesis in economics, Ho Chi Minh National Academy of Politics.

[17]. Mac Quang Huy (2009), Book " Investment banking handbook ", Statistical Publishing House, Hanoi, 2009.

[18]. Associate Professor, Dr. To Ngoc Hung (2009), Commercial Banking Course , Statistical Publishing House, 2009.

[19]. Associate Professor, Dr. Nguyen Huu Khai and colleagues (2007), "Assessing the current situation and shifting the structure of Vietnam's exports in the period 2005-2015" , Ministry-level scientific research project, Ministry of Trade.

[20]. KPMG (2013), Vietnam Banking Industry Assessment Report

[21]. Associate Professor, Dr. Nguyen Thi Mui (2011), Commercial Bank Management Textbook, Finance Publishing House

[22]. Vu Hoang Nam (2015) “ Bond investment and trading activities of Vietnamese commercial banks” PhD thesis in Economics, Banking Academy.

[23]. Dr. Le Xuan Nghia (2006), “ Vision and necessary steps of the Vietnamese commercial banking system in the new period ”, State Bank of Vietnam [24]. Hoang Xuan Phong (2014) “Market risk management at Vietnam Joint Stock Commercial Bank for Industry and Trade”, PhD thesis in economics, defended at the University of

Banking Institute.

[25]. Associate Professor, Dr. Ha Minh Son & Master Nguyen Van Loc (2012), Commercial Bank Accounting Textbook, Finance Publishing House.

[26]. Mai Van Tan (2014) “Research on the relationship between structural transformation and economic growth in Ho Chi Minh City” , PhD Thesis in Economics, University of Technology.

[27]. Professor, Dr. Nguyen Van Tien (2014), Commercial Bank Management , Finance Publishing House

[28]. To Khanh Toan (2014) “ Developing retail banking services at Vietnam Joint Stock Commercial Bank for Industry and Trade ”, PhD thesis in economics, defended at Ho Chi Minh National Academy of Politics.

[29]. Nguyen Duc Tu (2012) “ Credit risk management at Vietnam Joint Stock Commercial Bank for Industry and Trade”, PhD thesis in Economics, National Economics University.

[30]. Le Thi Kim Tuyen (2010) “Building a sustainable brand for Vietnam Joint Stock Commercial Bank for Industry and Trade”, PhD thesis in Economics, Ho Chi Minh City University of Economics

[31]. Phan Thi Hoang Yen (2016) “ Asset - Liability Management (ALM) at Vietnam Joint Stock Commercial Bank for Industry and Trade ”, PhD Thesis in Economics, Banking Academy. [32]. State Bank of Vietnam (2001), Lending regulations of credit institutions for

customers , issued in Decision 1627/2001/NHNN dated December 31, 2001

[33]. State Bank of Vietnam (2016), Regulations on lending by credit institutions to customers , issued in Circular 39/2016/NHNN dated December 30, 2016 replacing Decision 1627

[34]. State Bank of Vietnam (2001), Regulations on methods of calculating and accounting for interest of credit institutions", issued under Decision 652/2001/NHNN.

[35]. State Bank of Vietnam (2005), Regulations on debt classification and risk provisioning of credit institutions , issued in Decision No. 493/2005/QD-NHNN dated April 22, 2005.

[36]. State Bank of Vietnam (2007), on amendments and supplements to Decision No. 493/2007/NHNN , issued in Decision 18/2007/QD-NHNN dated April 25, 2007.

[37]. State Bank of Vietnam (2013), Regulations on classification of assets, provision levels, methods of setting up DPRR and use of provisions to handle risks in the operations of credit institutions and foreign bank branches", issued under Circular No. 02/2013/TT-NHNN, issued on January 21, 2013.

[38]. State Bank of Vietnam (2005), Regulations on safety ratios in the operations of credit institutions , issued in Decision No. 457/2005/QD-NHNN.

[39]. State Bank of Vietnam (2010), Regulations on safety ratios in the operations of credit institutions, issued in Circular 13/2010/TT-NHNN dated May 20, 2010.

[40]. State Bank of Vietnam (2010), Amendments and supplements to a number of Articles of Circular 13/2010/TT-NHNN , issued under Circular 19/2010/TT-NHNN dated September 27, 2010.

[41]. State Bank of Vietnam (2014), Regulations on limits and safety ratios in the operations of credit institutions and foreign bank branches , issued in Circular 36/2014/TT-NHNN dated November 20, 2014.

[42]. State Bank of Vietnam (2016), Amendments and supplements to a number of Articles of Circular 36/2014/TT-NHNN regulating limits and safety ratios in the operations of credit institutions and foreign bank branches, issued in Circular 06/2016/TT-NHNN.

[43]. State Bank of Vietnam (2016), Regulations on capital safety ratio for banks and foreign bank branches, issued in Circular 41/2016/TT-NHNN dated December 30, 2016.

[44]. State Bank of Vietnam (2006), Regulations on debt trading of credit institutions issued together with Decision 59/2006/QD-NHNN dated December 21, 2006.

[35]. State Bank (2006), Regulations on internal inspection and control of credit institutions, issued with Decision No. 36/2006/QD-NHNN dated August 1, 2006 of the Governor of the State Bank.

[46]. State Bank of Vietnam, Directive 03/2007/CT-NHNN dated May 28, 2007; Decision No. 03/2008/QD-NHNN dated February 1, 2008;

[47]. State Bank of Vietnam (2006), Financial Reporting Regime for Credit Institutions, issued under Decision No. 16/2007/QD-NHNN dated April 18, 2007. [48]. State Bank of Vietnam (2014 ), Amending and supplementing a number of provisions of the Financial Reporting Regime for Credit Institutions issued together with Decision 16/2007/QD-NHNN and Regulations on the Bank Accounting Account System issued under Decision 479/2004/NHNN , in Circular 49/2014/TT-NHNN dated

December 31, 2014.

[49]. State Bank of Vietnam (2014 ), Regulations on credit institutions purchasing corporate bonds, in Circular 22/2016/TT-NHNN effective August 15, 2016

[50]. State Bank of Vietnam, Official Dispatch 1601/2014/NHNN-TTGSNH:

Implementing capital safety according to Basel II

[51]. State Bank of Vietnam, Annual Report 2008-2015

[52]. Bank for Investment and Development of Vietnam, Annual Report from 2008-2016,

[53]. Bank for Foreign Trade of Vietnam, Annual Report from 2008-2016,

[54]. Vietnam Bank for Agriculture and Rural Development, Annual Report from 2008-2016.

[ 55 ]. Nhat Trung (2010), Credit ratio compared to mobilized capital - international practices, Banking Magazine No. 17 (2010)

[56]. National Assembly (2010), Law on State Bank, Law on Credit Institutions of Vietnam 2010.

[57]. Vietinbank (2008), Project to build Vietnam Finance - Banking Group , June 2008.

[58]. Vietinbank, Prospectus 2008, 2011 and 2013

[59]. Vietinbank , Annual reports from 2008-2016

[60]. Vietinbank , Separate financial statements for the years 2008-2016; Separate reports of Vietinbank's subsidiaries from 2009-2016

[61]. Vietinbank , Business performance reports from 2008-2016

[62]. Vietinbank, Credit Handbook of Vietnam Joint Stock Commercial Bank for Industry and Trade

[63]. Vietinbank, Decision 1867/2012/NHCT, Regulations on RRTD appetite of Vietinbank ; Some documents regulating the RRTD management framework, RRTK management, and operational risks of Vietinbank

[64]. National Financial Supervisory Commission, Financial Market Overview Report from 2011-2013, Financial Market Overview Report in 2014, 2015, 2016

ENGLISH

[65]. Andras Bethlend, “ Studies on the Hungarian credit market, market trend, macroeconomic and financial stability consequences ”, Budapest University of Technology and Economics, Hungary, http://www.omikk.bme.hu/collections/Phd/Gazdasag

[66]. Andreas Kamp, Andreas Pfingsten and Daniel Porath, “Do banks diversify loanportfolios? A tentative answer base on individual bank loan portfolios ”,

Banking and financial studies-Deutsche Bundesbank, March 2005 (2), http://www.bundesbank.de/Redaktion/EN/Downloads/Publications/Discussion_ Paper_2/2005/2005_06_10_dkp_03.pdf? , June 2, 2013.

[67]. Aisyah Binti Abdul Rahman (2008), “Lending Structure and Bank Insolvency Risk: The case of Islamic Bank in Malaysia ”, http://www.sesric.org/jecd/jecd_article , Journal of economic Cooporation and Development,31,3 (2010), 83-105

[68]. Apriani DR Atahau and Tom Cronje (2014), “Loan Portfolia Structure and Performance of Government - Owned Banks in Indonesia: Does size matter?,

Corporte Ownership & Control/Volume 11, Issue 4,14,2014

[69]. Basel Committee on Banking Supervision (2006), “International Convergence of Capital Measurement and Capital Standards” , BIS, June 2006

[70]. Basel Committee on Banking Supervision (2008), “ Principles for Sound Liquidity Risk Management and Supervisor ”, BIS, September 2008

[71]. Basel Committee on Banking Supervision, “ Core Principles for Effective Banking Supervision” , Bank for International Settlements, http://www.bis.org/publ/bcbs213.pdf, June 2, 2013

[72]. Charles W. Smithson (2002), “ Credit Portfolio Management ”, John Wiley & SonsInc.

[73].Grzegorz HaLaj (2013), “ Optimal asset structure of a bank. Bank reactions to stressful market conditions ”, European Central Bank, working paper series No1533/April 2013, https://www.ecb.europa/pub/pdf/scpwps/ecbwp1533.pdf

[74]. Dr. Gucharan Singh (2015), “ A study on structural changes of Sheduled Commercial Public Sector Banks in India”, International Journal of Engineering Technology, Management and Applied Sciences, March 2015, Volume 3 Special Issue, ISSN 2349-4476, www.ijetmas.com/admin/resources .

[75]. Joseph G.Haubrich and Paul Watchtel (1993), “Capital Requirements and Shifts in Commercial Bank Portfolios”, Economic Review, Vol.29, pp. 2-15, July 1993, http://www.clevelandfed.org .

[76]. Huberto M.Ennis (2004) “Some recent trends in Commercial Banking” Federal Reserve Bank of Richmond Economic Quarterly Volume 90/2, Spring 2004 www.business.illinois.edu/gpennacc/BankingTrends.pdf .

[77]. Henry Kaufman (1995), “ Structural Changes in Financial Markets: Economic and Policy Significance”, Federal Reserve Bank of Kansas City Economic Review, Second Quater 1995/9

[78]. Kosuke Aoki and Nao Sudo (2012), Asset Portfolio Choice and Inflation Dynamics , Bank of Japan Working Paper Series, July 11, 2012

[79]. Lintner, J. (1965), The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets, Review of Economics and Statistics. February, 47: pp. 13–37.

[80]. Markowitz, H. (1952 ), Portfolio Selection, The Journal of Finance, Vol. 7, No. 1. (Mar., 1952): pp. 77-91.

[81]. Michael Rapoport (2015), Banks Shift Bond Portfolios, The Wall Street Journal, March 24, 2015

[82]. PIMCO (2013), Impact of Regulatory Changes on US Bank Investment Portfolios, In Depth, December, 2013

[83]. Raymond W.Goldsmith (1958), “ Changes in Uses and Sources of Fund by Financial Intermediaries” , https://ideas.repec.org/h/nbr/nberch/2584.html

[84]. Svetlana Saksonova (2013), “ Approaches to Determining Optimal Asset Structure for a Commercial Bank ”, World Academy of Science, Engineering and Technology International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering Vol:5, No:5, 2011, http://www.waset.org/.../approaches-to-determining-optimal-asset-structure-for-ac

[85]. Sandra D. Cooke (1997), “Structural Change in US Banking Industry: The Role of Information Technology”, Economics and Statistic Administration Office of Policy Development Office of Bussiness and Industrial Analysis, ESA/OPA 97-6, www.esa.doc.gov/sites/default/files/structuralchange ,

WEBSITE

[86]. www.agribank.com.vn

[87]. www.anz.com/anualreports

[88]. www.bidv.com.vn/anualreports

[89]. www.kasikorn.com/EN/investors/FinancialInfoReports/Pages

[90]. www.nfsc.gov.vn

[91]. www.sbv.gov.vn

[92]. www.vietinbank.vn/investor

[93].www.vietinbank.vn/.../chien-luoc-tai-cau-truc-nguon-luc-tai-chinh [94].www.vietcombank.com.vn/anualreports

[95]. www.vnaba.org.vn

[96]. www.vietnambiz.vn/lai-du-thu-can-thay-doi-tu-goc-5074.htm

[97]. www.sbvamc.vn

[98]. www.gos.gov.vn

[99].www.cafef.vn/vietinbank-duy-tri-xep-hang-tin-nhiem-cao-nhat-nganh [100].www.vnfinace.vn

Appendix 01. Structure of business and investment debt securities by issuer of Vietinbank and some banks

Unit: %

Target

N2009	N2010	N2011	N2012	N2013	N2014	N2015	N2016
1. VIETINBANK
- Government Securities	72	54	57	65	59	49	36	43
- Corporate bonds, credit institutions	28	46	43	35	41	51	64	57
2. VIETCOMBANK
- Government Securities	51	41	45	80	78	83	84	83
- Corporate bonds, credit institutions	49	59	55	20	22	17	16	17
3. BIDV
- Government Securities	69	63	79	78	68	71	75	78
- Corporate bonds, credit institutions	31	37	21	22	32	29	25	22
4. AGRIBANK
- Government Securities	69	76	81	91	84	76	85	89
- Corporate bonds, credit institutions	31	24	19	9	16	24	15	11

Maybe you are interested!

• Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015 zt2i3t4l5ee zt2a3gsnon-credit services, joint stock commercial bank zt2a3ge zc2o3n4t5e6n7ts At that time, the Branch had to set aside a provision for credit risks, which reduced the Branch's income. Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015 Unit: Billion VND 140 120 100 80 60 40 20 0 63.3 80.34 89.29 110.08 131.99 2011 2012 2013 2014 2015 Profit before tax (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) However, through chart 2.2, it can be seen that BIDV Tien Giang's profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project "Restructuring the system of credit institutions in the period 2011-2015" approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: "Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services". 2.2. Current status of non-credit service development at BIDV Tien Giang. 2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times. Along with the development of the Head Office, BIDV Tien Giang's products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,... 2.2.1.1. Payment services: In accordance with the Prime Minister's Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers' cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc. Chart 2.3. Net income from payment services in the period 2011-2015 Unit: Million VND 6000 5000 4000 3000 2000 1000 0 3922 4065 4720 5084 5324 2011 2012 2013 2014 2015 Net income from payment services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment. 2.2.1.2. Treasury services: BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giang's treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17]. Chart 2.4. Net income from treasury services in the period 2011-2015 Unit: Million VND 350 300 250 200 150 100 50 0 105 122 309 289 279 2011 2012 2013 2014 2015 Net income from treasury services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services. 2.2.1.3. Guarantee and trade finance services: BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance. Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015 Unit: Million VND 14000 12000 10000 8000 6000 4000 2000 0 5193 5695 2742 3420 8889 3992 11604 12206 5143 5312 2011 2012 2013 2014 2015 Net income from guarantee services Net income from Trade Finance (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Through chart 2.5, we can see that BIDV Tien Giang's income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giang's corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area. are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future. 2.2.1.4. Card and POS services: As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services. In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system. Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments. Chart 2.6. Net income from card services in the period 2011-2015 Unit: Million VND 3500 3000 2500 2000 1500 1000 500 0 687 1023 1547 2267 3104 2011 2012 2013 2014 2015 Net income from card services (Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24]) Through chart 2.6, it can be seen that BIDV Tien Giang's card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25]. Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area. Unit: Machine STT Bank name Number of ATMs Cumulative number of ATM cards POS machine 1 BIDV Tien Giang 23 97,095 22 2 BIDV My Tho 7 21,325 0 3 Agribank Tien Giang 29 115,743 77 4 Vietinbank Tien Giang 16 100,052 54 5 Dong A Tien Giang 26 97,536 11 6 Sacombank Tien Giang 24 88,513 27 7 Vietcombank Tien Giang 15 61,607 96 8 Vietinbank - Tay Tien Giang Branch 6 46,042 38 (Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21]) Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6). div.maincontent .content_head3 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: bold; text-decoration: none; font-size: 14pt; } div.maincontent .p { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; margin:0pt; } div.maincontent p { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; margin:0pt; } div.maincontent .s1 { color: black; font-family:"Courier New", monospace; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s2 { color: black; font-family:"Times New Roman", serif; font-style: italic; font-weight: normal; text-decoration: none; font-size: 13pt; } div.maincontent .s3 { color: black; font-family:"Times New Roman", serif; font-style: italic; font-weight: bold; text-decoration: none; font-size: 14pt; } div.maincontent .s4 { color: black; font-family:"Times New Roman", serif; font-style: italic; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s5 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s6 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: bold; text-decoration: none; font-size: 14pt; } div.maincontent .s7 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 13.5pt; } div.maincontent .s8 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; } div.maincontent .s9 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; vertical-align: -2pt; } div.maincontent .s10 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; vertical-align: 5pt; } div.maincontent .s11 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; vertical-align: -5pt; } div.maincontent .s12 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; vertical-align: -3pt; } div.maincontent .s13 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9pt; vertical-align: -4pt; } div.maincontent .s14 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 7.5pt; } div.maincontent .s15 { color: black; font-family:"Times New Roman", serif; font-style: italic; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s16 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; } div.maincontent .s17 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 9.5pt; } div.maincontent .s18 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -1pt; } div.maincontent .s19 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -5pt; } div.maincontent .s20 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -2pt; } div.maincontent .s21 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10pt; } div.maincontent .s22 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; } div.maincontent .s23 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -3pt; } div.maincontent .s24 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -5pt; } div.maincontent .s25 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; } div.maincontent .s26 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -4pt; } div.maincontent .s27 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -6pt; } div.maincontent .s28 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -1pt; } div.maincontent .s29 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 11.5pt; } div.maincontent .s30 { color: black; font-family:Calibri, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 11pt; } div.maincontent .s31 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 11pt; } div.maincontent .s32 { color: black; font-family:.VnTime, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 14pt; } div.maincontent .s33 { color: black; font-family:Cambria, serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; } div.maincontent .s34 { color: black; font-family:Cambria, serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 10.5pt; vertical-align: -4pt; } div.maincontent .s35 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 11.5pt; } div.maincontent .s36 { color: black; font-family:Arial, sans-serif; font-style: normal; font-weight: bold; text-decoration: none; font-size: 14pt; } div.maincontent .s37 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: bold; text-decoration: none; font-size: 13pt; } div.maincontent .s38 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 13pt; } div.maincontent .s39 { color: black; font-family:"Times New Roman", serif; font-style: normal; font-weight: normal; text-decoration: none; font-size: 15pt; } div.maincontent .s40 { color: black; font-family:"Times New Roman", serif; font-style: normal; fo
• Organizational Structure of Joint Stock Commercial Bank for Foreign Trade of Vietnam - Bac Ninh Branch
• Increasing capital mobilization from individual customers of commercial banks - Case study of Vietnam Joint Stock Commercial Bank for Investment and Development, Phu Tho Branch - 1
• Completing the appraisal of loans for additional working capital for corporate customers at Vietnam Joint Stock Commercial Bank for Industry and Trade - Dong Anh Branch - 5
• ICAAP Internal Capital Adequacy Assessment Framework of Vietnam Joint Stock Commercial Bank for Industry and Trade - 25

Source: [64] and collected from Financial Reports of banks

Appendix 02. Profitability of subsidiaries under Vietinbank

Unit: %

Target

N2009	N2010	N2011	N2012	N2013	N2014	N2015	N2016
1. Vietinbank Securities Company
ROA	5.36	2.09	5.1	5.6	5.08	5.98	6.24	6.74
ROE	7.05	2.64	7.5	8.3	7.36	7.28	8.00	8.06
2. Vietinbank Fund Management Company
ROA	kc	kc	7.57	3.93	4.62	3.83	4.64	4.82
ROE	kc	kc	8.38	4.97	5.00	4.12	4.64	4.82
3. Vietinbank Insurance Company
ROA		-	9.89	8.19	5.64	7.26	6.3	4.09
ROE		-	10.33	8.47	6.47	8.72	9.1	10.01
4. Vietinbank Financial Leasing Company
ROA	3.57	3.84	3.91	5.28	4.32	4.57	4.74	4.45
ROE	7.22	10.88	8.5	8.42	7.95	7.60	7.44	7.96
5. Vietinbank Global Money Transfer Company
ROE	-	-	kc	kc	kc	kc	kc	16.8
6. Vietinbank in Laos
ROA	-	-	-	-	-	-	3.55	4.00
ROE	-	-	-	-	-	-	12.55	13.5

Source: [60] and collected from individual financial statements of subsidiaries under Vietinbank

Appendix 03. Outstanding loans for the transportation and warehousing industry of Vietinbank

Target

N2009	N2010	N2011	N2012	N2012	N2014	N2015	N2016
Outstanding loans for transportation and warehousing industry (Billion VND)	15,281*	17,250*	15,843*	9,781	8,083	7,376	7,344	12,241
Total outstanding debt (billion VND)	163,170	234,204	293,434	333,356	376,289	439,869	538,080	661,988
Proportion of outstanding debt in the transportation and warehousing industry	9.37%	7.37%	5.4%	2.93%	2.15%	1.68%	1.36%	2.85%
Equity (billion VND)	15,572	18,170	28,491	33,624	50,075	55,013	56,110	62,972
Transport and warehousing industry debt/equity ratio	121.55%	94.94%	55.61%	29.09%	14.94%	13.91%	13.09%	19.55%

Source: [59]

(*) In the 3 years 2009-2011 including outstanding loan data for transportation, warehousing and telecommunications industries

Appendix 04. Outstanding loans for some BOT projects of Vietinbank at the end of 2016

14000

12000

10000

8000

6000

4000

2000

0

Binh Thuan - Dong Nai BOT Project

BOT Project Deo Ca - Khanh Hoa

BOT Project Phap Van - Cau Gie

Bach Dang Bridge BOT Project

BOT Project Bac Giang - Lang Son

Equity capital (billion VND)

Loan from Vietinbank (Billion VND)

10169

6397

5905

5420

1450

2019

1265

1080

823

635

Source: [100]

Appendix 05. Accumulated losses of some SOEs with outstanding debt at Vietinbank at the end of 2016

Unit: billion VND

6000

5040

5000

4000

3905

3000

2000

1348

976

1000

0

Vinalines

Gtel

Vinachem

Vinafood 2

Source: Financial statements of companies