n-...I||llLLLLLLL in. In. i.» Joint Foreign Separate Stock 31 December Commercial Trade financial of statements 2016 Vietnam Bank for —"'1' “ii ‘1'1'1'1‘1'1‘1’1’1 "1 "l TI ll 1 TI '1 1 Notes Separate Separate Separate Independent Report General TABLE Joint to Stock of information the statement income balance the OF separate auditors’ Board CONTENTS Commercial statement sheet of of financial cash report Management flows statements Bank for Foreign Trade of Vietnam 13-73 11-12 Pages 9-10 1-2 Joint Stock Commercial Bank for Foreign Trade of Vietnam

GENERAL INFORMATION

Banking Licence Licence No. 138 GP-\.’li\.'\_' dated 23 May 2008 t's’~_‘:e‘d b} the (joy ernor of the State Bank of Vietnam (“the SBV'L Dec.‘7si:: \_':z A 3 “ l)

2719 QD—NHNX dated 22' December 2011. Decisim \,':. 5 A o

\fHNN dated 22 March 2012. Decision No. 154' OD-NHNN d m (1' (l ox ‘4 I

August 201-1 and Decision No. 2182 QD—\_‘H\_‘\f dated 2 O U i 'l '10 . " ’2 2015 promulgated by the State Bank of Vietnam amendux a :1 (A. 1 supplementing the Bank’s operations.

Business Registration Business Registration Certificate No. 0103024468 dated 2 Jame 2008 Certificate issued by Hanoi Authority for Planning and 1m estment. Business Registration Certificate No. 0100] 12-13" renev. ed for the t“ eitth time on 16 December 2016.

Members of the Board of Directors during the year and at the date of this report

Mr. Nghiem Xuan Thanh Chairman Appointed on 1 \f0\ ember 2014 Ms. Le Thi Hoa Member Reappointed on 25 April 2013 Mr. Nguyen Danh Luong Member Reappointed on 25 April 2013 Mr. Yutaka Abe Member Reappointed on 25 April 2013 Mr. Pham Quang Dung Member Reappointed on 25 April 2013 Ms. Nguyen Thi Dung Member Appointed on 25 April 2013 Mr. Nguyen Manh Hung Member Appointed on 26 December 2014

Members of the Board of Management during the year and at the date 0fthis report

Mr. Pham Quang Dung Chief Executive Officer Appointed on 1 .\'member 2014 Mr. Dao Minh Tuan Deputy CEO Reappointed on 15 June 2012 Mr. Nguyen Danh Luong Deputy CEO Reappointed on 2 October 201-1 Mr. Dao Hao Deputy CEO Reappointed on 1 August 2015 Mr. Pham Thanh Ha Deputy CEO Reappointed on 1 August 2015 Mr Yukata Abe Deputy CEO Appointed on 30 September 2012 Ms. Truong Thi Thuy Nga Deputy CEO Appointed on 1 December 2012 Mr. Pham Manh Thang Deputy CEO Appointed on 10 March 201—1 Ms. Nguyen Thi Kim Oanh Deputy CEO Appointed on 26 December 201».1 Deputy CEO Appointed on 1 June 2015

Members of the Supervisory Board during the year and at the date of this report

Ms. Truong Le Hien Head of the Board Reappointed on 25 April 2013 Ms. La Thi Hong Minh Member Reappointed on 25 April 2013 Ms. Do Thi Mai Huong Member Reappointed on 25 April 2013 Ms. Vu Thi Bich Van Member Reappointed on 25 April 2013 1 '1 ..l ...1 -1 -I .l uni II II II II I! I1 I! II I: m I; I A I u ‘. s‘1 l1 I1 Ill I11 I11 In In; all "H11 The The Ao’vember Authorzs'wion (Accordm'g financnal‘ Authorised' VCB-TH&CDKT Legal Clue'f GENERAL Joint Bank’s Bank’s Representatn't Accountant Stock statements 2014/ to sgna'ture INFORMATION auditors Head 50'. Letter Commercna'l dared 528/11Q- Office of on I

Ernst Hoan TItl'e: (contm‘ued) 198 Mr. Smce' Title':Chamnm'oftheBoardofDu'ecta" Mr. Smce' Rmppom'ted Ms. Bank Tran \p'gmven Nghiem Phung & Kiem Deputy 1 1 Young November November Quang for \.'__2u\en DISIl'l-IACI. Danh Xuan on C Vle'tnam E0 Fomlgn‘ Khai 16 Luong 2014 Thanh 2014 June Hai HanoL Street meted" Yen 2016 Vlanam' Trade of Vietnam

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Board of and fair at financial View of estimates ofJoint is is hence confirmed will its with OF is Standards, does any Management required and responsible explained view responsible responsibility operations policies of of accounting cash MANAGEMENT continue time, Bank the the statements. hereby for the Stock Management/V and of statements that flows applied to: separate taking separate the the that Vietnamese presentation and in are Commercial for for its and separate state separate the it for for then reasonable standards ensuring business. reasonable has accounting its in Foreign separate the financial the financial on that, separate apply respect complied the year. financial separate Accounting financial of / in that Bank going separate have them its financial and In steps position statements cash system. of Trade proper preparing opinion, with for position prudent; the financial position concern consistently; been flows for Foreign financial System separate the accounting statements; of It the of followed, the of above is of for the those of basis prevention statements also the Vietnam for the Trade the accompanying Bank statements. the financial Credit Bank requirements separate year responsible Bank unless Bank records and of and subject then as Vietnam Institutions and for of and of it at financial statements are each ended is the 31 the detection to to separate for inappropriate kept December in separate ("the ensure year financial any preparing safeguarding in and to statements. accordance ended Bank") disclose, material of statutory financial that results 2016, fraud year the the to 31 is

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the ' n, including that = in igf'Mangemem‘s and “hether “e that in “e of Accounting opinion. ’ order purpose or the the estimates are compl_\ our presentation “ Joint The determines the \thether rele\ men: he the Vietnam T is separate ex tr‘ee separate separate to performing audit audit AI‘DITORS' Shareholden: due accompan) to the aluating ant Stock design ot ofe.\'pressing \\ express tr‘om the assessment cash to ith S} made to e\ in (The is financial stem idence fraud financial of balance Commercial separate ethical the accordance material necessar} appropriate the resporuv'hilin' fie“ separate our mg b} procedures Rank‘W Bank‘s appropriateness for or s of ne opinion separate the requirements REPORT for an sheet statements. of error. financial misstatement. Credit statements. haie opinion to financial the the as Board preparation “ith audit as Bank enable prepared .\ear In on risks financial to at obtained Institutions statements making Vietnamese these 31 on procedures of obtain then for the statements. and of December of The the \.lanagement. “hcther Foreign on separate preparation accounting material ended and statements plan is effectiVeness those audit procedures .‘0 sufficient and are ta‘ir and March that Standards and and due 2010. Trade e\idence free financial risk statutor) misstatement presentation perform the are and policies for of to tr‘om as assessments. 201' the and Joint selected fraud notes ofthe appropriate such of presentation “ell on separate statements Vietnam appropriate material requimments the supponing and Stock used or internal thereto. Auditing. Bank‘s as audit error. of set in depend and e\ Commercial the income the out the in misstatement. aluating to of control intemal based the the to separate separate the obtain on separate auditor Those on reletant pro\ reasonableness circumstances. pages statement amounts the on as the control. reasonable ide the our considers standards Bank financial financial financial auditor's 0 oterall a to Board to audit. basis and and the "'3. An tor II" III.” “I: II! II!

29 Ho Certificate Audit requirements Accounting operations the working Building EY In Opinion our March Chi separate Practising opinion, world a Minh better 2017 No. and financial Standards, relevant City, 2071-2013-004-1 the its Registration separate Vietnam separate to position preparation Vietnamese financial cash of the flows and Bank statements Accounting presentation for as the at 31 give year December System of a Audit Auditor Ms. Certificate then true W separate Tran and Practising ended for 2016, Mai fair financial No. Credit in Thao View, and 2466-2013-004-1 Registration accordance of Institutions statements. in the all separate material with and results Vietnamese respects. statutory of its of Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 802/1(Tl) (Issued in am tit/.mt'u it‘ll/1 SB! ' SEPARATE BALA\.‘CE 811131.51 Circular No, 49 20/4 7'I-K\H.\I\' as at 31 December 2016 (id/LUIS] [X'I'L’IIII‘L‘I' 3014)

Notes 31/12/2016 31/12/2015 VND million VND million

A ASSETS

Cash on hand, gold, silver and gemstones 9,691,487 8,518,139

Balances with the State Bank of Vietnam 'II 17,382,097 19,714,714

Balances with and loans to other credit institutions 6 153,555,262 133,357,003 Balances \\ ith other credit institutions 102.540.290 92.189.431 Loans to other credit institutions 51.014.972 41.167.572 Provision for credit losses ofbalanccs with and loans to other credit institutions

Trading securities 3,249,805 9,061,389 Trading securities 3.249.805“ 9.061.389 Provision for trading securities

< Derivative financial instruments and other financial assets 230,658 628

Loans to customers 449,070,726 376,079,052 Loans to customers 457.137.817 384.643.654 Provision for credit losses ofloans to customers (8.067.091) (8.564.602)

VIII Investment securities 131,642,317 107,462,284 Available-for—sale securities 10(a) 51.923.760 42.468.041 He]d-to-maturit_\ securities 10(6) 79.898.684 65.661.872

wro Provision for investment securities (180.127) (667.629)

X Long-term investments 5,254,693 5,339,786 Investments in subsidiaries 11(3) 1.719.532 1.719.532 Investments in joint-v entures 11(b) 815.515 815.515 Investments in associates 11(c) 11.110 11.110 11(d) qu—m— Other long-term investments 2.829.418 2.829.418 11(0) U! Provision for long-term investments (120.882) (35.789)

Fixed assets 5,403,628 4,771,541 Tangible fixed assets 3.506.580 3.149.649 C05! ', 946. 645 6. 987554 A ccumu/aled depreciation (4,440. 065) (3.6117905) Intangible fixed assets 1.897.048 1.621.892 Cost 2.471.073 2.164.095 A cannula/ed canonization (5 "4.025) (543.303)

Other assets 10,482,028 8,623,946 Receiv ables 14(a) 2.507.696

Accrued interest and fee receivables 14(6) 5.746.557 a 15-7 '77; Other assets 14(c) ...__ / . ,'

TOTAL ASSETS 785,962,701 672,928,482

llnz m 1 “III/muting Nun's are an integral part r)/7/lt'\t' .N‘Iltll'tllt' firm/It m/ s/(urmnm Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOZ/TCI'DTI) (Issued in accordance wit/7581' SEPARATE BALANCE Sl llz‘li'l‘ Circular No, 4920/4’77-M1’XV as at 31 December 2016 (continued) dated 3] December 20/ 4/

Notes 31/12/2016 31/12/2015 VND million VND million

B LIABILlTlES AND SHAREHOLDERS’ EQUITY

Amounts due to the Government and the State Bank of Vietnam 15 54,151,413 41,479,553

II Deposits and borrowings from other credit institutions 16 71,337,732 72,194,479 Deposits from other credit institutions 53,491,202 52,01 1,179

{J Borrowings from other credit institutions 17,846,530 20,183,300

I" Deposits from customers 17 590,910,736 501,510,585

VI Valuable papers issued 19 10,005,376 2,007,070

VII Other liabilities 12,549,086 11,476,404 Accrued interest and fee payables 20(a) 6,449,922 4,996,351

IQ— Other liabilities 20(b) 6,099,164 6,480,053

TOTAL LIABILITIES 738,954,343 628,668,091

Capital and reserves Capital 35,977,686 32,375,521 Charter capital 35,977,686 26,650,203 Share premium 5, 725,318 Reserves 5,730,257 4,749,507 Retained profits 5,300,415 7,135,363 Previous years ’ retained profits 870, 659 3,665, 749 Current year ’s retained profits 4,429, 756 3,469,614

TOTAL SHAREHOLDERS’ EQUITY 21 47,008,358 44,260,391

TOTAL LIABILITIES 785,962,701 672,928,482 AND SHAREHOLDERS’ EQUITY

2|

I'ltc m‘cmn/mm'ing notes are an integral part aft/lest) separatefinancial stale/nemx‘ LLLL Joint Stock ( 'omniereinl Bank for Foreign Trade of Vietnam Form “02/” "ID (lwm/m t'l('('l1l'(/(lll('(' it'll/18111 '

Slil’ARA 112' HA1,AN('1 81112121 ( in Mar No .19 "1701-1/1' '/ —'N/I/\’N us at 11 December 2016 (continued) 1/11/17] 5/ 11m 't‘III/u‘l‘ 301-1)

Notes 31/12/2016 31/12/2015 VNI) million VNI) million

No OFF-BA l ANCE SI I [GET ITEMS

1 (‘redit guztn'lntees 222.549 74,143 ._ Foreign exelmnge commitments 24,605,699 19,757,401 u Forward bln'ing 9,019,812 8,852,550 17 Forward selling 15,585,887 10, 904,851 1 Letters of credit 44,755,947 30,826,079 4 Other guarantees 36,683,048 27,283,715 5 Other commitments 63,624 26,797

36 106,330,867 77,968,135

Hanoi, 29 March 201 7

Prepared by: h \ _ _ Approved by:

Ms. Nguyen Thi Thu lluong Ms. Phung Nguyen Hai Yen Mr. Nignyen D211 1 LL/tvtog //1./ (2 1/7177“7

Deputy Director (f) Accounting Policy Department ChiefAccountant

(I

J

1111' (lt't output/Hug Mott's are (m inlt'grtt/ port of thew \t'lutmlc timmuu/ \tu/t'mt'uh Joint Stock (‘ommereial Bank for Foreign 'l‘rade of Vietnam I‘orm "03/11 "I‘ll '/\\II(I(/I,Illl‘fl'i’It/II,]I'I"1V11/IA\v/)" Sl‘l’ \R \ll~ |\k‘()\ll~ ,\‘l‘\ll \ll‘\\l ( 'Ircn/tu' \n vl‘1.‘(}/1'/'/f\‘ll.\\ for the )car ended ‘1 December 2016 t/tlla/ 3/ lhn'm/u'l' .‘UHI

Notes Year ended Yea r ended 31/12/2016 31/12/2015 VNI) million VNI) million

Interest and similar income 37,1 I 7.766 11.194.93‘8

A Interest .md similar c\penscs (19,115.7l l) (l.",8‘8">.9l5)

\.'et interest income 18,272,055 15,305,023

'4; l’ce and commission income 4.148.731 3.377.774 l’cc and commission mpcnses (2,156,971)) (1.632.364)

II Net fee and commission income 24 1,991,761 1,645,410

III Net gain from trading foreign currencies 1,849,413 1,571,400

IV \i'ct gain from trading securities 26 461,891 175,287

Net (loss)/ gain from investment securities 27 (89,416) 179,268

'1' Other income 2.285.707 2.135.799 (a ()Iher mpenses (370,561) (230,390)

VI Net other income 28 1,915,236 1,905,409

VII Dividend and net income from investments in 29 1 1 1,656 83,479 associates and joint-ventures

TOTAL OPERATING INCOME 24,512,596 20,865,276

VIII TOTAL OPERATING EXPENSES 30 (9,888,203) (8,161,247)

IX Net operating profit before provision for credit losses 14,624,393 12,704,029

Provision for credit losses 31 (6,387,396) (6,049,730)

XI PROFIT BEFORE TAX 8,236,997 6,654,299

[/10 m ( UNI/muting notes are an inlegra/ purl ofI/zew separate financial \lt],t'"lt"],\ i) Joint Slm‘k ( 'mnmcl'cial Bank for Ifirrcign 'l'rmlr ul' \‘irhmm Iv'ulau IHH I'( ll) «Inu-1/Irl.u.m./.m.. uulmln'l ,\'l'|’.\|\“\ ll l.’\J( ‘( )MI \I \ l l MI N I (Inn/.1! \n I" ‘!'/I I'/ \/I\\ 101 llu' Mun “mini \‘l lk‘u‘mlwl .‘Ulh (\unmnu'd) ,/.IIA./ I'I [hum/w 'H/H

Nun's \ our rmlml \ nu cmlul .H/lZ/Zfllh .\l/l.‘/IUI’~ \‘NI! milliml VNI) million

('mu‘nl «'mpka' im‘umv l.l\ mlwnucn (IJL‘NMH‘A') (|.ll'\.\.".‘)

A\'II ('m'puralc inmmc l:|\ mprnsvs 32 “.025.va (l.vl~15.8‘..l)

\"III NI"'I‘ l’R()l“|'l' s\l*"l'lt‘R 'I':\‘\' (Mil L92" 5.208.477

II‘an ,‘0 Mun/I .‘UI '

l’rcpmul h): Applmul I“

Ms. Ngu} cn I'hi l‘hu Huang Ms, l’llllllp,“ NL‘U) on llni ch Mr. Ngh\_"én Hunh l nun};

Xv [A ‘ ' I y I 1 ) w w "Nu 1;? H "1) k \w Q a V l)('/’Ill\' I)II'('('IUI‘ U/ \ . '. ‘L x I ' ’3» .‘lt‘CUN/lllllfl I’m/111' /)('/’¢II'IIII(‘III ( 'lm'l Jaw/mun! 11/", Dvmur ( 'I-'( )

llz.‘ m r urn/nun my IIUIIW air an mlqrml [nu-I u/ [In-w u'puum- rum”. 1.1! mu. rm rm to Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BO4/TCTD (Issued in accordance with SB V SEPARATE STATIilVlEN'l‘ OF CASH FLOWS (‘I'rcular No, 49/20] J/TTYT-NHNN for the year ended 31 December 2016 dated3/ December 20/ 41

Notes Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

CASH FLOWS FROM OPERATING ACTIVITIES

Interest and similar income received 36,489,977 29,957,328 Interest and similar expenses paid (17,690,344) (15,696,663) Fee and commission income received 1,991,761 1,645,410

AWIJ— Net receipts from foreign currencies, gold and securities trading 2,432,639 2,134,498

U1 Other income/(expense) received/paid (208,888) 71,612 Receipts from recovery of bad debts previously written off 2,120,227 1,831,996 Payments to employees and for other operating activities (9,197,581) (7,019,570)

00 Income tax paid 34 (1,684,851) (1,618,531)

Net cash flows from operating activities before changes in operating assets and working capital 14,252,940 11,306,080

(Increase)/decrease in operating assets Balances with and loans to other credit institutions 571,521 4,654,648 10 Trading securities (22,509,208) (49,009,427) ll Derivative financial instruments and other financial assets (230,030) (628) 12 Loans to customers (72,494,163) (63,322,055) 13 Utilization of provision for credit losses ofloans to customers (7,374,917) (4,028,310) 14 Other operating assets (663,162) (516,766)

Increase/(decrease) in operating liabilities 15 Amounts due to the Government and the SBV 12,671,860 (12,613,519) 16 Deposits and borrowings from other credit institutions (856,747) 28,805,402 17 Deposits from customers 89,400,151 78,269,900 18 Valuable papers issued 7,998,306 (1,571) 20 Derivative financial instruments and other financial liabilities (75,278) 21 Other operating liabilities (808,725) (478,541) 22 Payments from reserves (1,175,549) (480,845)

Net cash generated from/(used in) operating 18,782,277 (7,490,910) activities

I'l'1e (urn/ripariying "(I/US are an integral purl aft/lose ,s'epurulefinancial \‘Iult'mt'ms l 1 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BO4/'TCTD (Issued in accordance with SB V SEPARATE STATEMENT OF CASH FLOWS CircularNo. 49 2’0] 4x7T-NHMV for the year ended 31 December 2016 (continued) dated31 December 2014)

Notes Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

CASH FLOWS FROM INVESTING ACTIVITIES

Payments for purchases of fixed assets (1,270,224) (1,158.327) Proceeds from disposals of fixed assets 5,646 3,862 Payments for disposals of fixed assets (1,748) (2,061) Proceeds from investments in other entities 12,540 12,100 Payments for investments in other entities (228,584)

QUILUJI‘J— Dividends and interest received from long-term investments in the period 111,656 75,256 Dividends of prior year received in the year 7,123 3,562

II Net cash used in investing activities (1,135,007) (1,294,192)

CASH FLOWS FROM FINANCING ACTIVITY

Dividends of prior year paid in cash (2,665,020) (2,665,020)

III Cash used in financing activity (2,665,020) (2,665,020)

IV Net cash flows during the year 14,982,250 (1 1,450,122)

Cash and cash equivalents at the beginning of the year 33 162,740,479 174,190,601

VII Cash and cash equivalents at the end of the year 33 177,722,729 162,740,479

Hanoi, 29 March 201 7

Prepared by: , Approved by:

Ms. Nguyen Thi Thu Huong Ms. Phung Nguyen Hai Yen .7?5 t M‘filigfiyjefiflfiDanufo . u 7 /MM, \ Deputy Director of Accounting Policy Department ChiefAccountant

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at Company Life Company Limited Ben Management Limited Ciales the run/101's 31 Stock year Insurance 'I‘hanh December IO of employees ended 11 Limited entity (‘ommercial — Cardif ! Fund joint-ventures Company Ili Bonday Bonday SI‘V'I’ARA'I'I‘.‘ 2016. 31

(continued) December ~ the Bank Bank Operating October last Department December Operating Operating Ministry 23 Investment Commission; granted GPHDQLQ Operating 17/GPDC—UBCK dated Amendment dated Amendment of February Operating and FINANCIAL

2016 amendment October has Planning for December associates 02, 15.164 October (continued) of Foreign 2005 by Licence Licence Licence Licence 2000 of Licence Finance Licence dated 1991 No. 2008 Planning No.2458/GCNDC2/41/1 granted last the and employees S'I‘A’I'IiMIiN'I‘S No. 28, dated Trade 2458/GCNDC1/41/1 No. (continued) No. 2 2012 26, granted No. 283/GPDC3 amendment Investment granted State No. December 2458/GP August by 283/GP and of 55/GP the (as 2011 06/UBCK- Vietnam Investment, Securities at Ministry 6, by by dated dated 31 dated 2015 2005 dated with No. and December the the 7 5 management fund Investment Office sector Business Office sector Business insurance Life. 2015: ( 'in (/SA'Ht’d leasing leasing Mar 14,295 dated in No, accordance 3 4 shareholding Form / 9/201 employees). shareholding December by the % % the 4/7'f-NIIMV 45% 51 BOS/FCTD 16% 52% direct direct Bank % It'll/7 Bank 2014) SB by V ..' ... .' it“ y III-iiiil‘llll’lliIEE'I'E'EI‘III'IZI7 (b) (c) (a) (d) (6) Fiscal the accrual The the million The of According Foreign The Standards, Basis statements Users 29 and also stipulated term Cash Cash statement the Foreign statement transaction. currency the Monetary financial The Purpose of The Summary into placements; institutions for NOTES Jom’t these operations March direct preparation period its inter-bank following required Bank's separate Bank known separate the valuable and of and for subsidiaries year basis separate Stock exchange VND the year currency method. statements cash assets at 2017. by of TO when assets are to the has Vietnamese in cash fiscal amounts with Income separate the securities the by Circular preparing financial order significant ended using and financial presented of THE Commercial equivalents (“VND subsidiaries exchange preparation papers and financial preparing exchange this and and Bank’s equivalents year significant original consolidated differences to for SEPARATE the presentation 31 and regulation, transactions of financial to liabilities obtain liabilities No. the which is statements, with December historical Accounting statements, accounting cash, million”), in expenses accounting meet statements. from the rates rates year financial terms line 155/2015/TT-BTC include as original full Bank and separate are of arise statements the disclosed “Foreign 1 ended cash on prevailing denominated the are January accounting FINANCIAL of the information to that cost 2016 eligible policies in cash the prevailing except have Bank from separate for statements. presented system, System flows maturity maturity foreign reported separate 31 are dates concept. (continued) Foreign on financial December exchange in to been revaluation has should subjected have for of for on hand, Note 31 the of financial for currencies on the prepared in regarding requirements the not in not the using STATEMENTS discounting December. been the prepared Bank financial The currencies Credit the policies read Bank Trade balances Vietnam 1 separate exceeding differences”, separate exceeding transactions. statements 2016 and consolidated adopted to separate of the records them statements. the an and Institutions Note foreign are information (“the of in insignificant exchange consolidated with statements statement Dong other its together Vietnam by with converted balance for accordance all statement three 11(a). three subsidiaries. consolidated the the currency and transactions information financial than (“VND”) the Bank and SBV, months with months are rate disclosure The sheet of SBV, VND into risk financial statutory m' recorded of cash with the Treasury Bank trading effective the position, cash VND date. of and financial that balances are said from in preparation flows, disclosure change Circular Vietnamese on (Issued their prepared flows rounded converted are Non-monetary statements regulations in consolidated in activities securities the bills the consolidated the on dated are readily original statements”) in No. in with is original separate the accordance separate and prepared and value. as prepared 3 49/2014/7T-NHMN to these Form 1 at into December other date other Accounting of specifically presentation convertible the market. currencies. relevant the the financial BOS/l‘ separate VND date income income foreign nearest end of results on short- with credit using dated Bank 2014) the the CT As 16 of of SB to at D V

\l'rz ‘12/?" IIIIHIIELLLLLLLLKBLHKLL I. (it) (I) (I) 2. (iii) classification 02, there and classify loan Since Group Group Group Group Group outstanding end supplementing Circular against classilication sylet'lj'ic; loans The O_p__L__ieneral information Sine In Provision the loans IJHIIM Loans Summary Joint lor N( accordance the date Clause is Bank )1le classification the to 1 is I calculated to It) 5 4 3 2 1 January loan to Stock a January [2'1)71_‘I;Sli‘l()ll oflhc customers loans — — — credit \_cur — — ('IMIUHIUI’S customers row'sionor different 'l is for No. customers Loss Doubtful Sub-standard Special Current () 1 from is required as ended to credit of 'l to of to ('ommcrcial of separate at 111'. risks with a adjust 2015, 2010., 09/2014/'l"I‘-NHNN Article customers be Credit significant based assets. jg}: 30 number as mentioned which classifications S'lul’ARA'l classified losses are 11 to approved November Circular in credit credit their the credit December make financial on stated Information 1 the leve1s are 1, Bank of of the and classification Circular losses Bank classified losses banking loans and articles institutions, into l', loan No. in by off-balance and accounting has l'lN/\\:'( statements. less the maintain 2016 ofa the the to for classification 02/2013/TT-NHNN applied Centre method 02 separate discounted customers of SBV. group loan activity (“Circular into (continued) Foreign for Circular 'lAll of , a Groups between (CIC) foreign sheet However, a loansand Article general of of period balance 81 higher of policies setting is Trade value A1 commitments and 02, about recorded credit 09”) 1 7. banks’ provision Article lelzN'lS of to off-balance corresponding specific risk. according sheet Decision Provision of three up 4 of the (“Circular as dated institutions, collateral (continued) Vietnam of and branches loan at 10 at years risk the of0.75% provision 30 100% and in No. stated 20% 50% to rate group 5% 0% sheet 18 November. accordance principal provisions, Circular Clause starting 493/2005/QD—NHNN as 02”) provision are March in of follows: foreign items. oftotal a for customers required dated separate 1 from 02, amounts from credit ( with {Issued 'irmlur 2014 and rates the outstanding banks" 21 1 Article dated to Bank June both line. losses use January at In Nu, against outstanding use amending accordance the 3/ branches 49/2/01 of the Form 2014. is December time the 11, to at provisions required balance Article principal make 2013 the 4/fTT-NIIANI’V BUS/TCTD Circular updated of In with year as case loan and and the 2014/ on of 10 to at SB V Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 805/1"CTD (Issued in accordc’mce with SB V NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular N0. 4 9/201 4W77-NH1’WV for the year ended 31 December 2016 (continued) dated3] December 20]4)

2. Summary of significant accounting policies (continued) (0 Loans to customers (continued)

(iv) BA_#___flad—debtswritten-0

According to Circular 02, the Bank writes off bad debts in the following cases:

Borrowers who are dissolved, bankrupted under legal regulations (in case of legal entities); or are deceased or missing (in case of individuals); or Debts are classified into Group 5. I [it {w —_~_—_g__LyBaddebts sold 10 Vietnam Asset :llallat’lllé’nf C(mzan

Bad debts sold to Vietnam Asset Management Company (“VAMC”) are recognized at their book values in accordance with Decree No. 53/2013/ND-CP effective from 9 July 2013 on “Establishment, organization and operation ofVietnam Asset Management Company", Circular No. 19/2013/TT-NHNN effective from 15 September 2013 on “Purchase, sale and handling of bad debts of Vietnam Asset Management Company". Official Letter No. 8499fNHNN-TCKT on “Guidance on accounting for bad debts purchase and sale between VAMC and credit institutions” and other related adjustments and amendments to this regulation. Accordingly, the selling price is the outstanding balance of a bad debt minus its unused specific provision.

For the sale ofbad debts in exchange for VAMC bonds, upon completion ofsales ofbad debts to VAMC, both the outstanding principal and specific provision of the sold debts are de-recognized and VAMC special bonds are recognized at the face value; which equals to the outstanding balance ofthe sold debts less the unused specific provision. Upon receiving the sold debts back from VAMC, the Bank will use the provision made annually for VAMC special bonds to write off such bad debts. Difference between the provision made for VAMC bonds and the uncollected outstanding balance of debts/bonds will be recognized as "Other income" in the separate income statement.

(g) Investments

___g____Tradinsecurities

Trading securities are debt securities, equity securities and other securities acquired and held for the purpose of reselling within one year to gain profit on changes in price.

Trading securities are initially recognized at the cost of acquisition and subsequently measured at the lower of book value and market value. Gains or losses from the sales oftrading securities are recognized in the separate income statement.

(ii) Investment securities

Investment securities are classified into two categories: available-for-sale and held-to-maturity securities. The Bank classifies investment securities on their purchase dates. In accordance with Official Letter No. 2601NHNN--TCKT dated 14 April 2009 by the SBV, the Bank is allowed to reclassify investment securities no more than one time after the purchase date. Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issuedin accordance with SB V NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular No. 4 9/20] 4/77‘7'I-NHNN for the year ended 31 December 2016 (continued) dared 3/ December 2014)

2. Summary of significant accounting policies (continued)

(g) Investments (continued)

(ii) lures/men! securities (continued)

Available‘—f0r-Sa/e securities

Available-for-sale securities are debt securities, equity securities or other securities, which are acquired for an indefinite period and may be sold at any time. For equity securities, the Bank is neither a founding shareholder nor a strategic partner; nor has the influence on the entity’s process of plan and determination of financial and operating policies under agreements to appoint its personnel to the entity’s board of directors/board of management of the investee.

Held—to—maturity securities

Held-to-maturity securities are debt securities, with fixed or determinable payments and maturities where the Bank has the positive intention and ability to hold until maturity.

Held-to-maturity securities are initially recognized at cost of acquisition, including transaction expenses and other directly attributable expenses. They are subsequently measured at the lower of the book value after amortization of premium/discount and the market value. Premiums/discounts arising from the purchase ofdebt securities are amortized to the separate income statement using the straight-line method over the period from the acquisition date to the maturity date.

In addition, according to Circular 02 and Circular 09, investment securities which are unlisted corporate bonds must be subject to classification and provision similarly to that for loans to customers presented in Note 2(f‘).

Special bonds issued by VAMC Special bonds issued by VAMC are fixed-term valuable papers used to purchase bad debts of the Bank. The special bonds are initially recognized at face value at the date of transaction and subsequently carried at face value during the holding period. The face value of the bonds equals the outstanding balance ofthe sold debts less their unused specific provision.

I" Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 805/1"CTD 1 " (Issuedin LIL'L'()I'LI'tII7L'£’ with $8I ' NOTES TO 'I‘llli Slt'l’ARA'I‘li FINANCIAL STAT}:‘MliNTS Circular No. 493014 TT—NHN’V for the year ended 31 December 2016 (continued) dated 3/ December 30/ 4)

2. Summary of significant accounting policies (continued)

(g) Investments(continued)

[investment securities (continued) (It)

Special bonds will be settled in one ofthe following cases: 0 The provision made for special bonds is not less than the book value of relevant bad debts recorded in the accounting books ot‘VAMC. including the following cases: ' VAMC sells the bad debts to organizations, individuals, including the case of re-selling debts to credit institutions it previously purchased the debts from using special bonds at market price or negotiated price; I VAMC converts the debts into the charter capital ofthe corporate borrowers. 0 Special bonds are expired. In accordance with Circular No. l4/2015/TT—NHNN, during the time holding the special bonds. within 5 working days before the maturity date of special bonds, the Bank shall make a minimum specific provision for each special bond, which is calculated based on the maturity of special bonds. amounts of bad debt collected up to the date of provision calculation and face value of special bonds.

hhhhhhll Specific provision for each special bond is recognized in the separate income statement in "Provision for credit losses“.

During the year. the Bank settled the whole portfolio of special bonds issued by VAMC to make provision for and write offbad debts.

(iii) _g—______L(m-terminvestments inhi-

Investments in subsidiaries, joint-ventures and associates

Subsidiaries (f)the Bank are entities that/kill in one ofthe>/(‘)//0n'ingis'.' Li o The Bank or the Bank and its related parties hold more than 50% ofcharter capital or more than

I - 50% of the voting rights in that entity;

0 The Bank has the power, directly or indirectly. to appoint most of or all of the members of the - Board of Directors. the Board of Management or Chief Executive Officer ofthe entity;

0 The Bank has the power to amend. supplement the entity‘s Operation Charter; 0 The Bank and its related parties control, directly or indirectly, the resolution and decision of the Annual General Shareholders’ Meeting. the Board of Directors, and the Board of Management of the entity. Joint-ventures are those entities to which the Bank has joint control, established by contractual agreements and require unanimous consent of all joint-venture investors for the entity‘s strategic financial and operating decisions. Associates are those entities to which the Bank has significant influence. but not control. over their financial and operating policies. Investments in subsidiaries.joint-v entures and associates are stated at cost less provision for diminution in \ alue.

Io IIIIIllflhhhhhhhhthhhhhhhumamumuan. (h) (iii) (g) agreements Other [___g______.0nr—term reliably, of actual provision 228/2009/TT-BTC cases the Other and the Other influences less ()tlter Investments Summary repurchase recognized in Securities Repurchase Provision investee. price separate separate Securities straight-line rate NOTES Joint for the the carrying Bank subsidiaries). than the stipulated is where owners" long-term long-term long-term long-term economic Stock separate year amortized provision balance financial TO amount intended for sold 11% purchased on price investments in to value method losses ended long-term THE of the Commercial (continued) and in equity the under appoint of entity. investments investments investments is significant financial the sheet investments is entity’s statements. and is to voting SEPARATE over dated amortized separate 31 reverse have the made based contract under agreements hold multiplied December the in For difference its investments the 7 (continued) been “Loans process rights market based for personnel December on statements. agreements an term Bank balance repurchase are include represent and in The more the projected investment accounting FINANCIAL the (x) on and initially to 2016 of to value. recognized interest between of corresponding for by repurchase the separate is than the customers”. planning equity sheet to is 2009 made the (continued) Foreign the shares’ to The agreement either the one in recognized rate resell ratio agreements in the Bank’s and as the when securities entity’s income corresponding listed year STATEMENTS in Bank’s and stipulated a a market at policies of Circular initial Trade the at founding liability. The a cash the capital (other a determining capital shares specific using separate specific at statement board economic capital difference business and value paid cost of No. than in invested the or (continued) Vietnam other investments The shareholder the date and under of (similar cash shares 89/2013/TT-BTC contribution income date straight-line investments directors/board contract. over plans) difference investee financial subsequently in long-term between by these in received the whose the to the the statement. future in provision in term or agreements future entity Bank accordance to and other the method fair in capital between a the from Circular (repos) joint-ventures, of strategic (Issued measured operating purchase to dated suffers value are of economic the entities the for contributions management dated not these based agreement in No. is trading total the are 28 can with a accordance recognized recognized partner; 3 4 June loss Form price at where still policies I 9/20] sale agreements be on actual entity December Circular the securities). (except determined recognized associates the 2013. 4/17 BOSNCTD and price using lower it 77 and or with interest which of capital under owns -Nl resale in in 2014/ has The No. the and SB the {MN for the the the of is V IIEHUUBELLLLLhLI-Lh-hhhhLil.HuhmuIn (1') (i) (ii) (i) (1') Tangible Summary __g______Dereciati0n capitalized fixed resulted in maintenance Expenditures considered of On and directly asset Tangible Cost The Depreciation L—g_and Intangible rights According NOTES Joint for which management, 25 the the estimated 30,000,000 Historical The It The use The term been Office Premises Others Motor comprises assets April use is Stock recognized cost attributable year in rights fixed certain useful TO rights land the is paid fixed an rihts as as to vehicles 2013, fumiture, of at beyond ended fixed THE and is of costs incurred fixed Commercial an increase use Circular assets useful dismantling least (including for costs computed to life to (thirty its assets significant additional use overhaul the as rights SEPARATE the use gain 31 assets are assets costs of purchase five their are intangible lives of Ministry fittings and leasing assets December the in after No. million incurred. future years stated allocated the of the land ifthey on originally leased are depreciation costs, and 45/2013/TT-BTC cost bringing Bank the expected assets is a price, time and and as economic use of at straight-line VND). above removing fixed accounting FINANCIAL tangible oftangible meet 2016 cost land follows: are Finance In equipment granted rights by for or must including case the assessed normally assets the paid one less all before future (continued) Foreign of asset fixed with benefits the ofthe State it be year; issued accumulated with in fixed comprise: basis fixed can asset advance economic determinable the dated to definite STATEMENTS standard assets import charged with certificate and policies following its Trade be Circular over from effective assets. assets. and working clearly 25 land have the for and duties, the restoring April 3 to depreciation. level benefits of - 25 No. many use estimated According of the 4 5 three (continued) indefinite 6 been use Vietnam date demonstrated reliably, years years condition years years land 2013 of fee 45/2013/TT-BTC separate non-refundable of years of put criteria: performance, obtained the such or use the by useful into site receiving terms); with The to rights and the assets; and Land income operation, this on from Ministry that initial the lives a location which by Law minimum Circular, Circular remaining the the these purchase (Issued the statement the oftangible guiding cost 2003 transfer expenditures it competent use of dated for such expenditures is ofa in No. Finance, of located. accordance its

assets but value 3] the taxes 49,1’2/014/lT-AH"AW paid as Form tangible these for intended of December fixed the repairs framework

the

authority land legal of 805/1" shall and land tangible rent will period assets. with VND fixed lease have land use, any and has use 2014/ CTD be be 3‘ 58 V

Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BUS/’TCTD (Issued in accordance nil/2531 ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS (‘l'rarldea 49 20/4 77-,\H'.\.'\' for the year ended 31 December 2016 (continued) dazed 3 1 December 30/ 4/

Summary of significant accounting policies (continued)

(j) Intangible fixed assets (continued)

(1') ]______g_scmduse rilirs (continued)

The initial cost of land use rights is determined as the total amount paid to get the land use rights plus (+) costs ot‘site clearance. ground leveling. registration fee (excluding costs ofconstruction on that land) or the \alue of land use rights used by shareholders to contribute to charter capital.

Land use rights not recognized as intangible assets comprise:

a Land use rights allocated by the State without land use fee ; 0 Land leases for which the lease amount was paid one time for the entire lease term (the lease term is after the effectiy e date ofthe Land Law 2003 and no Certificate ofland use rights is granted): the lease amount is amortized in operating expenses during the lease term; o Land leases for which the lease amounts are paid annually. the lease amount is recorded in operating expenses in the respective year.

According to Circular \.'0. 45 2013 TT-BTC. intangible fixed assets which are long-term land use rights with land use fee or receiy ing the legal long-term land use rights are not amortized.

For intangible fixed assets which are land use rights with definite terms or leased land use rights, depreciation is calculated on the period permitted for the use ofthe land.

(ii) —g___;_0therinlanible med assets ink-LE. Copyrights, patents and other intangible fixed assets are amortized on a straight-line basis over 4' years.

(k) Deposits from customers and certificates of deposits

Deposits from customers and certificates of deposits are stated at cost. Lani—i- (l) Valuable papers issued

Valuable papers issued are stated at cost. net of amortized premiums and discounts. Cost of Valuable papers issued includes the proceeds from the issuance less directly attributable expenses.

(m) Severance allowance

Under the Vietnamese Labor Code. when employees who have worked for the Bank for 12 months or more ("eligible employees") voluntarily terminate their labor contracts. the employer is required to pay the eligible employees severance allowance calculated based on: the number of years of ser\ ice up to 2008 and employ ees‘ compensation within their last 6 working months. In accordance with Circular No. l80"2012*TT-BTC dated 24 October 2012. the Bank makes sey erance allowance and records as operating expenses in the period. 44 [J I j QUEER UUHEEELLLLLLLLLLL ILILthL .L-Luci t (iii) (ii) (1') (n) (0) iv) Reserves treasury attributable The - - - prescribed Reserves When T the On ,__‘1__S‘lmre ordinary Ordinary ( Capital Summary I______L_nterest Income retained The Shareholders’ Interest receipt. Interest Interest )rdinurr reasurv for NOTES Joint receipt shares charter Annual Investment Financial Supplementary remaining the appropriation )remium the Stock expenses on income income year profits shares. shares and and shares shares are TO shares is rates of Bank loans capital. General costs, recorded ended reserve: capital THE used of reserves expenses Meeting Commercial net of and are and of as classified are significant repurchases are the net outstanding profit below: SEPARATE recognized to for development charter 3! interest Shareholders’ from recorded classified as Bank. of reserves 10% December and specific share after any shareholders, in relevant ofnet capital exenses Bank Group tax tax, its on premium as loans as is accounting FINANCIAL purposes reserve a an profit effects, 2016 own after made Meeting. reserve: equity. deduction for statutory accrual 2 classified to issued appropriation (continued) Foreign after in the Group and in is equity. and Incremental 5% difference recognized basis. accordance tax requirements. other from shares, S'I‘A'I‘IiMIiN'I‘S in appropriated of policies 5 and Trade Group is net reserves: share recognized does to the profit between reserves as costs of with 1 premium not — total (continued) a Vietnam Current are after from deduction exceed directly the the paid in to and tax resolutions net in the be issuance dividends is 25% equity. amount made and separate profit attributable recognized from of does upon the price equity after ( which of 'I'I‘cu/ar (Issued payment, income not Bank's the the and on tax dated to exceed and in N resolutions includes an Annual 0. the the accordance of statement charter 3 49/2/01 Form referred accrual is / the par December issuance recorded the 4/771Nl BUS/T value Bank General directly capital. Bank’s of with basis. upon to the 20/ CT as as of of SB at {NI’V 4) D V Joint Stock Commercial Bank for Foreign Trade of Vietnam Form HOS/TCTI) (Issued in accordance wit/181W NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular No. 49/20]4/[I'l/V/INN for the year ended 31 December 2016 (continued) dated 3 1 December 20/4)

2. Summary of significant accounting policies (continued)

(0) Income and expenses (continued)

and dividend income (ii) Fee_,______commissions

Fees and commissions are recognized on an accrual basis. Cash dividends from investment activities are recognized in the separate income statement when the Bank’s right to receive payment is established.

(iii) Stock dividends

In accordance with Circular No. 200/2014/TT-BTC dated 22 December 2014, stock dividends from retained profits after tax, share premium, reserves ofjoint stock companies are not recorded in the separate financial statements. Instead, only the increase in the number of shares held by the Bank is updated.

(iv) Uncol/ectible income

According to Circular No. 05/2013/TT-BTC dated 9 January 2013, income receivables that were recognized as income but uncollectible at the due date are reversed as a reduction of income if the due date is within the same accounting period, or reversed as an expense if the due date is not within the accounting period, and must be monitored off-balance sheet for collection follow-up. When the income is collected, the Bank will record it as an operating income.

(p) Operating lease

Payments made under operating leases are recognized in the separate income statement on a straight- line basis over the lease term.

(q) Taxation

Corporate income tax ("CIT") on the profit or loss for the period comprises of current and deferred tax. Corporate income tax is recognized in the separate income statement except when it relates to items recognized directly to equity, in which case it is recognized in equity.

Current income tax is the expected tax payable on the taxable income for the period, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustments to tax payables in respect of previous periods.

Deferred tax is calculated by using the balance sheet method, providing for the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities using tax rates enacted or substantively enacted at the balance sheet date.

A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized. I.) 'Jl Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issuedin accordance will7 SI} V NOTES TO THE SEPARA’I‘F. FINANCIAL STATEMliNTS Circular No. 4 9/20]4/7T-NlINN for the year ended 31 December 20l6 (continued) dated 3/ December 20/ 4)

Summary of significant accounting policies (continued)

(r) Related parties Related parties ofthe Bank include: Parent companies or parent banks ofthe Bank; The Bank‘s subsidiaries: The party that has the same parent company or parent bank with the Bank; Members ofthe Management or Supervisory Board ofthe parent company/parent bank ofthe Bank; Individuals or organizations which have the authority to appoint members of the Management or Supervisory Board ofthe parent company/parent bank ofthe Bank; Members ofthe Management or Supervisory Board of the Bank; Companies or organizations which have the authority to appoint members of the Management or HHHIHHHIIJI‘E Supervisory Board of the Bank: Wives, husbands. parents. children (including foster parents, foster children, parents-in-Iaw, son -in- law. daughter-in-Iaw. step parents, step children), siblings (including half siblings), brothers—in-Iaw, sisters-in-Iaw of members of the Bank’s Management or Supervisory Board, capital contributors or shareholders who hold at least 5% of charter capital or share capital with voting rights; Individuals or organizations that hold at least 5% ofchaiter capital or share capital with voting rights of the Bank; Representatives for the Bank's paid—in capital and shares.

The Govemment of Vietnam, through the State Bank of Vietnam, is a shareholder of the Bank. Therefore, in these separate financial statements, certain Government agencies, including the Ministry of Finance and the State Bank of Vietnam are considered as related parties of the Bank.

Segment reporting A segment is a distinguishable component of the Bank engaged either in providing related products or services (business segment), or in providing products or services within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments. The Bank’s primary format for segment reporting is based on geographical segments. (t) Derivative contracts (i) _gI—g—F0rei1exchan e contracts The Bank enters into foreign exchange forward and swap contracts which enable customers to transfer, modify or reduce their foreign exchange risk or other market risks and are also used for the Bank’s business purpose.

Forward contracts are commitments to either purchase or sell a designated currency at a specific future date for a specific exchange rate and are settled in cash. Forward contracts are recorded at nominal values at Iniihhhhhhhhhhh transaction dates, and are subsequently revaluated at the end of the accounting period. The difference on revaluation is recognized under "Foreign exchange differences“ in equity and is recorded in the separate income statement when preparing the separate financial statements (see Note 2(d)). Currency swap contracts are commitments to settle in cash the notional principal amounts at a future date based on differences between specified exchange rates. Swap contracts are subsequently revaluated at the end of the accounting period and the difference on revaluation is recognized under "Foreign exchange differences” in the equity section and is recorded in the separate income statement at the end ofthe fiscal year (see Note 2(d)).

:0 InBEHIIHHLLLLLLLLLLKLLLBHkhIt l‘ I (V) (1'1') (0 detained have provision Circular with Provision Other similar payment According these and unutilized The simultaneously, Financial Offsetting provisions For liabilities Commitments recognized contracts interest Interest l)7f______j__—L’I‘CSI Derivative Summary Bank if.

From From From From Overdue for NOTES Joint and receivables letters Bank the become Circular commitments has only three two one six to receivables amount Stock rate rule No. year or acceptances assets for and loans is TO ages for loans (6) has an similarly to of (1) (2) on in if. contracts (3) not 200/2014/TT-BTC su'a) so bankrupt these Circular ended credit overdue the of THL5 months commitments No. intention the year trial credit Commercial years that to ap and based and years and recognized significant separate Bank customers contracts receivables contracts by 228/2009/TT-BTC SEPARATE to are and to to overdraft 31 liabilities to commitments and to and 02 contingent less on law guarantee those or receivables December classified less (continued) has contingent to less and are floating above irrevocable than income enforcement settle than currently will of than on are undergoing (presented Bank Circular facilities are is loans two accounting three issued the FINANCIAL expire the commitments as based offset one or 2016 on statement which liabilities liabilities arising for assets (2) fixed performance separate to enforceable a 09, (3) (1) lending which by issued years customers on without (continued) bodies, Foreign in net and dissolution the years year are interest with the their Note from the basis, on do Bank, are not balance Ministry commitments by STATEMENTS credit to are overdue accrual 2(0). net not any policies approved. its Trade classified of legal the rates. settle (see serving or for represent amounts regular advanced procedures, customers risks, Ministry sheet. to Note of management rights basis. The ages in of Finance realize sentences (continued) the The cash Vietnam as lending with 2(0). value are The or expected to payment, assets Bank to of Bank estimated offset are the reported specific the third on difference of Finance missing, purpose activities. conducts notional or 22 bearing also commitment assets the future parties. have December in in provides effective recognized loss whole on the has deceased, have and credit cash of principal classification C for These (Issued 7 Many 'I'rczr/ar separate to swap December or settle fled, debts flows. classify financial in 2014. date dated risk in in commitments interest M). ofthe amounts part. interest accordance etc. are amounts whose into the in 3 balance Provision 4 Accordingly, Form 1 920 prosecuted, guarantees, December accordance and guarantees Therefore, contingent liabilities 2009 5 rate I 4/7T-NHNN BOS/TCTD and groups, debtors rates makes sheet at with 100% swap 70% 50% 30% and the rate are the 2014) SB!" is Joint Stock Commercial Bank for Foreign 'l‘ratle of Vietnam l’ornt BUS/II "I‘D d" i/wn't/ln tlt‘mrt/untt' ir/I/IN/‘il \Ol‘l'S IO III!. \.‘I l’.\l\‘ \ l‘l‘ |-'l.\‘.\.\‘t'l.\| \X l‘.\ | l‘Ml N." l'\.‘ t int/l.” \u I‘LWH 'l'l'.\‘/l.\'.\ tor the \.ear ended ‘1 December 2010 (continued) r/tllt't/J‘I llt't't'III/tt'r.‘(ll-l)

Presentation of finzmcial instruments in .‘tccordancc with (‘ircular No. 2 l (l/Zt)()9/'l"l‘-B'I‘C Dunne its lutsiness operations. the Rank regularl) enters into contracts \\hich give rise to financial assets. financial lit-ibilities and equit) instruments.

l’i'rit-utcial assets ol‘the Bank tnainl) include:

o L‘ash.‘ o Balances \\ith the State Bank ot‘\'ietn.'un; 0 Balances \\ ith and loans to other credit institutions; 0 1 oans to customers; 0 l‘mding securities; 0 ln\ estmcnt securities; 0 Other long-term in\ estinents; 0 Financial deri\ati\e assets: and 0 Other financial assets.

Financial Iialu'lities ot‘thc Bank mainl} include:

0 Amounts due to the Gm eminent and the State Bank ot‘Vietnarn; 0 Deposits and borronings from other credit institutions; 0 Deposits from customers: 0 Valuable papers issued; 0 Financial deri\ati\c liabilities; and 0 Other financial liabilities.

Classification of financial assets and liabilities

For the disclosure purpose in the separate financial statements. the Bank appropriatel)‘ classifies fitmncrlal assets and financial Iial‘iilities in accordance \\ ith Circular No. 2l0/2()()‘)/'l"l'-B'I‘C.

Finaneial assets are classified as: 0 Financial assets held tor trading: 0 lleld-to—maturit)’ im'estments; 0 Loans and receivables; and 0 Available—for—sale financial assets.

Financial liabilities are classified as: 0 Financial liabilities held for trading: and 0 Financial liabilities carried at arnortil'ed cost. nmmhhhhhhhhhhh [I iii-aa- Lathe-:- hihhbhhhhhhhi‘n b (d) (b) statutory Institutions, accordance presenting The liabilities assets In Measurement obligation the flows A Derecognition (trade The when. methodologies market of that When are instrument When knowledgeable, Fair Financial Recognition 210/2009/TT-BTC Presentation not instruments In market NOTES Joint for financial accordance market case readily asset disclosed. instrument preparation Bank the value from date the an and an expectations Stock participants there year regulations active are as assets TO inputs, active Bank is recognizes in and financial accounting). using the asset without is with presented complying settled ended Note transferred. Tl is with Commercial the regularly using financial for becomes market willing and llz‘ and and not is market rely its Vietnamese of derecognized amount 39(b). Slil’ARA'l‘li pricing Circular (i.e. 31 quoted and would presentation quoted liabilities as enough financial valuation disclosures as a in December financial described does parties with financial measures either available asset little exists Note (continued) a The A party market financial consider price for No. financial not Bank the information as are 39(b). to liabilities financial discharged. techniques. in for Accounting which FINANCIAL 210/2009/TT-BTC, to possible exist of when, an requirements compare 2016 in in asset terminated, ofthe and prices of contractual the for a the the arm’s instruments when instruments. fair financial for liability represent fair and or (continued) an Foreign active notes are risk-return instruments are on a financial to value cancelled, length with The asset value setting only financial recognized estimates Standards, deemed utilize above. or STATEMENTS market. is provisions of chosen instrument, the actual when, the Trade ofthe could derecognized transaction the Inputs prices. factors book liability the majority valuation of instrument, or not State specific and the in A valuation financial the expired). Bank on be of Vietnamese to market value for for and Bank's regularly accordance Vietnam inherent the have the exchanged. Bank Bank at on the of has valuation techniques, to the be when. separate Bank of the instruments the been the supply technique is the to are of contractual consistent those date regarded recognition risks in disclose occurring Bank Vietnam Bank, Accounting still measures reliably and the when ofthose techniques or balance financial and financial recognized detemiines only would fair a incorporate are with the as with Circular rewards rights liability the measured and I market Issued date. only value active when, the fair financial sheet make contract assets accepted with System tlaled instrument. to reasonably Circular fair value No. in for of the transactions. and of receive when. accordance if settled. the all 3 49. maximum other the and Form quoted value ownership 1 and the fair instruments. December ’2014177-A'HA1V recorded of factors contractual is for purpose therefore, economic financial financial effective and financial BOSffCTD value the relevant of among reflect Credit prices with No. cash only that that use 2014) at) of of of in SBl ' shhhhb-LL LL. LLLL LLLLEL‘. 5. 4. The average the The These Actual Balances Cash Type Demand Compulsory Compulsory Deposits Deposits Deposits Deposits Deposits Demand Valuable Cash Cash Demand Demand Joint for monthly effective monthly the on deposits on of interest on Stock balances year deposits deposits deposits deposits deposits hand hand from in in in in papers hand, foreign foreign VND VND with balance reserve reserve average C ended Commercial rates in in overseas consist RR of in foreign \"ND in in with with in in rates the currencies currencies deposits toreign of gold, 31 VND USD USD VND in in of balance ofa deposits terms terms l)cceinlwr USD VND credit at CRR. State currencies the compulsory silver currencies multiplied of Bank ofless ofthe institutions year-end with with The at 12 Bank the 2016 months terms terms amount and for than demand year-end reserve by (continued) were of Foreign 12 gemstones of of in preceding and Vietnam of months foreign 12 less as deposits were monthly above (“CRR”) months follows: than Trade as currencies CRR of 12 follows: and balance of the for months rates. Vietnam above liquidity Bank

of with CRR VND VNI) and 31/12/2016 31/12/2016 17,382,097 1 9,691 2,140,269 7,550,773 the 6,176.61 1,205,486 31/12/2016 31/12/2016 is current million million calculated SBV ,487 445 ( 0.0500 (lowed ‘I‘rt'u/ur 1.2% 6% 8% 3% 000 000 must account. 1 1% 1% dam/3] in No. by not accordance 4‘), Form VND VNl) the be [)t‘L'L'I/l/lt'l‘ 20/4 31/12/2015 31/12/2015 31/12/2015 31/12/2015 19,714,714 16,456,445 3,258,269 8,518,139 7,092,462 1,424,886 less monthly 1305/ million million 'I 0 'I-Wl will) . 1.2% 0 than l‘("l‘l) 0" 0" 6% 8% 3 791 5“ 1 1 30/4) % % % SI! INN o o o 1 ' Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 1305/ I‘("l‘l) (Issued in accordance wit/18131 ' NOTES TO Tlllt‘ Slil’ARA'l‘li l“lN/\N(‘l/\l, S'l‘A'l‘liMl{N18 ( 'ircu/ur N0, 492014 77 —'Nl/NN for the year ended 31 December 2016 (continued) (/um/ 3 I IM win/var 20/ 4)

6. Balances with and loans to other credit institutions

31/12/2016 31/12/2015

nitric VNl) million VND million

Balances with other credit institutions Demand deposits in VND 2,083 772 Demand depOsits in foreign currencies 32,928,350 29,598,488 ’l‘erm deposits in VND 48,060,802 35,157,103 Term deposits in foreign currencies 21,549,055 27,433,068

102,540,290 92,189,431 uni.

Loans to other credit institutions Loans in VND 49,702,307 38,180,075 Loans in foreign currencies 1,312,665 2,987,497

51,014,972 41,167,572

153,555,262 133,357,003

Balances with and loans to other credit institutions by loan group were as follows:

31/12/2016 31/12/2015 VND million VND million

Current 153,555,262 133,309,503 Special mentioned 47,500

Closing balance 153,555,262 133,357,003

Movements in specific provision for credit losses of balances with and loans to other credit institutions were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Opening balance 22.877 Provision (reversed) during the year (see Note 31) (22.877) LLLLLLLLLLth—h-h

Closing balance I iii-1. '- v I x : ‘ Joint Stock Commercial Bank for Forcigm 'l‘radc of Vietnam Form B05 'l‘(‘11) 1.1".\‘.\1'u'u" m Jam "it'll/ice u 21/: NIH \0 115 l‘\‘ l‘lll: Slil‘ \R.\l‘l’ l‘l\ \\t‘l.\l \Cl‘ \l‘l"\ll‘_\' 18 t'.2r.':..".:r \n 40 SUN 'l'l—'.\H\.\ for the _\car ended «‘1 December :0 I o tcontinucdi Jam! 3 I [XXXVI/[VF CUM)

Trading securities

31122016 31/1..’/..’015 \'\.'1) million \‘ND million

Debt su‘uritics Gm eminent securities 2."9(\._‘8.\‘ 5.500.843 SL‘Clll‘ii‘iCS issued 1‘) other ‘rcdit institutions 453.522 3.494.540

3.249.805 9.061.389

Trading securities b} listing status \\ ere as tbllo“ s:

31/12/2016 31/12/2015 VND million VND million

Debt securities Listed -x‘.249.805 9‘06 1 .3 89

3.249.805 9.061.389

8. Loans to customers

31/12/2016 31/12/2015 \XN'D million VND million

Loans to local economic entities and indi\ iduals 454.568.540 381489.356 Discounted bills and \aluable papers 2.108083 Loans gi\ en to make pa) ments on behalt‘ofcustomers 46.215

457.137.817 384.643.654

Loan portfolio b} loan group \\ as as folio“ s:

31/12/2016 31/12/2015 VND million \'\i'l) million

Current 443336.991 .t‘(18.2(1"'.282 Special mentioned 7.91 1.198 9.340.702 Sub-standard 1.339.294 795.481 Doubtful 1.329.517 749.780 Loss 4.200.817 5.550.409

457.137.817 384.643.654 4; Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issuedin accordance will? 58 V NOTES TO THE SEPARATE FINANCIAL STATEMENTS ('irczrlar No, 49/20]4/7T-AH’MV for the year ended 31 December 2016 (continued) dated 3 1 December 20/ 4)

Loans to customers (continued)

Loan portfolio by term was as follows:

31/12/2016 31/12/2015 VND million VND million

Short-term 259,279,448 230,106,409 Medium-term 51,213,800 41,599,239 Long-term 146,644,569 1 12,938,006

457,137,817 384,643,654

Loan portfolio by type of borrowers was as follows:

31/12/2016 31/12/2015 VND million VND million

State-owned enterprises 91,010,370 90,159,335 Limited companies 96,011,521 81,133,664 Foreign imested enterprises 30,451,483 25,944,432 Co—operatiye and private companies 7,452,950 7,712,731 Individuals 115,813,425 77,827,285 Others 116,398,068 101,866,207

457,137,817 384,643,654 thhh-h-nnu-nnlll‘lf

Loan portfolio by industry sectors was as follows:

$- 31/12/2016 31/12/2015 VND million VND million

Construction 24,900,269 21,093,479 Electricity, gas, water processing and supplying 28,618,100 27,270,183 Processing and manufacturing 139,144,433 121,052,108 Mining 18,433,775 17,375,028 Agriculture. forestry and aquaculture 12,737,662 10,761,131 Transportation, logistics and communication 26,326,817 23,549,692 Trading and services 1 17,594,006 105,498,319 Hospitality 8,459,066 8.761,074 Others 80,923,689 49,282,640

457,137,817 384,643,654 uuuu'u‘uLLLLLLL-hh’uhut-humus.-Ill Ill! Movements Movements Provision Closing Provision Opening Closing Opening Foreign Provision Provision Foreign Provision Specific (ieneral Joint for NO'l‘lz‘S the Stock )c21r exchange exchange balance balance provision provision 'l‘() balance balance utilized utilized made made in in for ended 'l specific (‘ommereial general llli during during credit difference for for Slal’ARA'lli difference 31 bad writing-off provision provision December the the debts losses year year Bank l‘lNAN('l/\l, sold (see (see for for 20 of of for credit credit bad l to Note Note 6 loans (continued) l’oreign VAMC debts losses 3]) 31) losses to 81 'l‘rade of of A customers loans l loans lel‘Nl of and and

Vietnam S advances advances VND VND VNI) Year Year (4,173,895) 31/12/2016 31/12/2016 31/12/2016 2,688,909 8,067,091 4,713,235 3,353,856 4,713,235 3,008,929 5,875,693 3,353,856 to to 664,947 million million million customers customers ended ended 2,508 ( (/wm/m 'Irru/m t’tl/(‘l/ were Nu were (ll 1/9 {I 'mn/imi Form VND VND VNl) as Year lh'u-m/u'r.’l)/ Year as .’()I-l (3,407,735) 31/12/2015 31/12/2015 31/12/2015 5,875,693 2,245,624 8,564,602 5,105,194 4,797,930 2,688,909 lollows: 5,875,693 2,688,909 (620,575) follows: “05/11 437,663 '1' million million million /'/‘/\’//.’\/N ended ended it'll/1,8711 5,622 879 "I'll ll Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOSVTCTD Ilsmed in accordance wit/1531 ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS Chm/«Jr No. 49 30/4 77-_\‘H_\.’\' for the _\ear ended 31 December 20161continued) dated3/ December 30/ 4/

10. Investment securities

(3) Ax ailable-for-sale securities

31/12/2016 31/12/2015 VND million VND million

Debt securities Gox emment bonds 39.127.435 32.178596 Securities issued b} other local credit institutions 12.496.325 10.189445 Securities issued b} local economic entities 300.000 100.000

51,923,760 42,468,041 Prox ision for a\ ailable-for-sale securities (17,250) (18,150)

51,906,510 42,449,891

\_10\ ements in general provision for unlisted corporate bonds were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Opening balance 18,150 18,150 Prox'ision (rex ersed) during the year (see Note 31) (900)

huh-hhhunn-‘IIII Closing balance 17,250 18,150

MOVements in specific provision for unlisted corporate bonds were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million Opening balance 16,000 Provision (reversed) during the year (see Note 31) (16,000)

Closing balance hhh'u'utuhk. \- Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 305 TCTD Ila Shed m a.’;orur"‘ite it}? 581' ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS C'Irgufar 49 3014 77-}.H'N‘J for the _vear ended 31 December 2016 (continued) Med 3 .’ December 301-1,

1]. Investment securities (continued)

(b) Held-to-maturity securities (excluding special bonds issued by VAMC)

31/12/2016 31/12/2015 VND million VND million

Govemment bonds 62,660,834 51, (J! 6 4. L.) 69 l Debt securities issued by other local credit institutions 2,400,099 —‘ 0 0., to '8I Debt securities issued by local economic entities (excluding special bonds issued by VAMC) 14,837,751 10,488,751

79,898,684 62,153,398 Provision for held-to-maturit) securities (162,877) (74,466)

79,735,807 62,078,932

Details of provision for held-to-maturitv.’ securities were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million General provision for held-to-maturitvd' securities 1 13,536 74,466 Specific provision for held-to-maturitvir' securities 49,341

162,877 74,466

Movements in general provision for unlisted corporate bonds were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Opening balance 74,466 20.466 Provision made during the year (see Note 31) 39,070 54.000

Closing balance 113,536 74,466 uIihhhhhhhhhhhhhhikiifiilIII-IIII- (d) 00 10. Classdi'eation Movements Provision Opening Current Closing Movements Held-to-maturity Investment Special Opening Provision Provision Provision Face NOTES Joint for (e) the Special value Stock mentioned year balance balance TO balance made utilized made in in ended THE Commercial specific bonds specific of securities during during unlisted during SEPARATE 31 securities issued December provision the provision the the year corporate year Bank (continued) year by (excluding (see FINANCIAL (see for for 2016 VAMC for Note special unlisted Note bonds (continued) Foreign 31) 31) bonds special corporate STATEMENTS Trade issued bonds bonds of by Vietnam issued VAMC were as by were VND follows: VND VND VND Year Year 31/12/2016 VAMC) (3,201,022) 31/12/2016 31/ 31/ 19,437,751 18,427,751 2,626,009 1,010,000 as 575,013 12/2016 million 12/2016 million million 49,341 49,341 million ended follows: Cirallar ended (Issued (continued) dated in N0. accordance 3] 4 Form VND 9/20] VND December VND Year VND 31/12/2015 Year 31/ 31/12/2015 31/ 12,908,751 12,908,751 4/77‘ BOS/T 3,508,474 2,933,461 (575,013) million (91,455) 12/2015 575,013 491,750 12/2015 with million 174,718 million ended million -NHNN ended 2014) CT SB D V

\vnimf ,l/ '. Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BUSTCTD (Issued m actordwice v. 17/7 531 ' NOTliS TO 11115 SEPARATE FINANCIAL STATEMENTS Circular .‘w. 49 30/4 TT-.‘~H'.\_'\V for the )ear ended 31 December 2016 (continued) dwed 3/ December 2014/

l]. Long-term investments

(a) Investments in subsidiaries

As at 3/ December 2016

/o° share- At cost Business sector holding VND million

Vietcombank Financial Leasing Company Limited Finance lease 100% 500.000 Vietcombank Securities Company Limited Securities 100% 700.000 Vietnam Finance Company Limited Financial services 100% 1 16.902 Vietcombank Tower 198 Company Limited Office leasing 70% 197.652 Vietcombank Money Incorporation Remittance 87.5% 204.978 hhhflilll'l‘l‘l‘ 1,719,532

As at 3] December 2015

% share- At cost Business sector holding VND million

Vietcombank Financial Leasing Company Limited Finance lease 100% 500.000 LLB-L‘- Vietcombank Securities Company Limited Securities 100% 700.000 Vietnam Finance Company Limited Financial services 100% 1 16.90.." 7 0/ Vietcombank Tower 198 Company Limited Office leasing /0 197.652 Vietcombank Money Incorporation Remittance 87.5% 204.9"8

1.719.532 LLB—1... L. '2. i... 1|- ub-----I-II-IIIIII (h) 11. classified on ho“ classified mean operatiomtl charters Limited .~1s l‘he l‘he lm Long—term Vietcomlmnk Vietcombauk 1\ \‘1etcotitlx-tnk Vietcouth'anlx Vietcoinlxmlx \‘ietcotuhaulx m- \U Joint 11/ the at e\ estment Bank Bank 3/ the that Compan} Compau) Compau} 3C 118 er. Compau} L‘outpan) Column) compan\_‘s Stock require and ll'ucnflncr \_ear [\‘ut‘ziif‘cr this into into o\\ns Nuts the 1‘0 and Vietcombank compau} ended "ln\ in "lmestment Bank — l‘llF * Fund Commercial Fund investments 4500 financial l 52% limited Ronda} 1 a l Ronda) joint-ventures Cardit‘lite‘ imited L‘ardit‘l imitcd imited estment operational consensus 311/5 811‘ 311/0 has ,~‘1 \.lanagement \_lanagcmcnt ot‘the and 's December — control ~ \R charter matters. 51% ite‘ Ben Ben in in total Fund \ Insurance Insurance _ioint—\enturcs” joint—\ Bank l‘l" amouru 'l‘hanh and ot‘the l‘hanh ox (continued) requires capital Fl\';\\'t‘l;\1 2010 \ilanagemcut llcuce. er for financial entures" these total related tcontinued) Foreign ot‘Vietcomlmnk a onuin:u consensus capital companies. rather rather matters. parties SIK\1‘F\,1F\,' Compan} Trade ot‘Vietcombanlx' tnore than than among Lite mait;1_«_‘eriteitt 1m Office on Business life management 1m Office Business ’l‘heret‘ore. The than of estment estment "lmestmeut "lmesttnent all 7 insunmce insurance respecti'\e|'\.‘ Vietnam Cardif 18 leasing leasing imestments related important halt‘ot‘ sector seetor fimd fund the Lite parties the Bonda} in in in\ Insurance decisions associates". subsidtaries”. companies~ honm in estment on % % these holding (Manly holding 7 1/.~_\"ucu".'t: all share- share- er. Ben 45% 5200 'JI 45% 5200 important 'JI Compan} too on .—‘ in ._4 _1.';!t;1'

these O o Thanh 0 C \ capital the the .zcctnzzlmew51/1581 companies t 3 4‘4 Form ." VND VND compan) companies“ companies“ Decemrx'v INK-1 Compan) decisions Limited; does BOSTCTD 815.515 270.000 410.365 _‘"0.000 410365

H million At _. TT—_\'H.\.'\' million At '4) (4) YJI ‘11 not are cost cost .— 31/7." is ‘Ji lll

Q O 4, ' 1min i. hi- Ebb-hh-nnlnillllll (c) 11. above Directors, The As ‘11s Investments Long—term Vietcombank Vietcombanlx' N()1‘15S Joint l‘orthc'\c.'1rcndcd a! a! Bank 31 3/ company Stock December December 'l‘() over has '1‘1112‘ in Commercial — — investments the significant is Bonday Bonding assmiates classified financial 2015 2016 Sl’l’ARA‘l‘la‘ 31 December Limited Limited influence into and Bank (continued) "Investment FINANCIAL operating 2010 for but (continued) Foreign limited policies in S'l‘A'l'liMl-lN'l'S associates” 'l‘rmle control, of Office Business Office Business this ol'Vietnam company. through rather leasing leasing sector sector than its Therefore, “Other participation % "/0 holding holding ( long-term share- share- (lulled 'ireu/ur 16% the 16% .114 investment llt't/ m No. in m 3/ 4 investments”. the ‘( Form VNI) 9/20] "UH/(0K VNI) I )t’t’L'I)1/)L'I' Board 4/] BUS/K '4' million At million At in 11,110 11,110 11,110 11,110 'l Wll/l W] ~10 the cost cost 20/ of S]! INN "l'l) 4) V Joint Stock Commercial Bank for Foreign 'l‘rade of Vietnam FOI'III BUS/II7'”) (Issued in (IL'(.’(II‘(/(m( 'u will] 8/! V NOTES TO 'l‘lllz‘ Slil’ARA'l‘lz‘ FINANCIAL S'l‘A'l'liMI'IN'I'S ( 'Ih'u/ur No. 49/20/4/ll'-'NlINN for the year ended 31 December 2016 (continued) (/ult't/3/ December 20/4)

11. Long—term investments (continued)

(d) Other long-term investments

.45 a! 31 December 2016

% share- Business sector holding VNl) million

Vietnam Export - Import Commercial Joint Stock Bank Banking 8.19% 582,065 Saigon Bank for Industry and Trade Banking 4.30% 123,452 Military Commercial Joint Stock Bank Banking 7.04% 1,242,989 Orient Commercial Joint Stock Bank Banking 4.72% 144,802 Small & Medium Enterprises Credit Guarantee Fund Credit services 0.80% 1,864 Card and settlement SWIFT, MASTER and VISA services 2,936 Petrolimex Insurance Corporation Insurance 10.04% 67,900 Petrovietnam Drilling and Well services corporation Drilling 0.21% 5,496 Vietnam Credit information Joint Stock Credit information Company (PCB) services 6.64% 7,962 Cement Finance Company Financial services 10.91% 70,950 Vietnam Infrastructure development and /

financial investment JSC. Highway investment 1 .9 \1 \O 0 75,000

National Payment Corporation of Vietnam Card services l .8 \O o\ 4,400 \O Vietnam Airlines JSC. Aviation 1 8 wt» /o 499,602

2,829,418 huhb-hh—nbnnuniflnllll Ll. £11de Hunks. H

-11 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issued in accordance will] 58 l ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular No. 49 201-! 771V} 1’.\'.\ for the year ended 31 December 2016 (continued) dated 3 1 December 20/4)

11. Investment securities (continued)

((1) Other long-term investments (continued)

As at 31 December 2015

% share-

Business sector holding VND million 1 m Vietnam Export - Import Commercial Joint Stock Bank Banking 8.19% 582.065 -rr1. Saigon Bank for Industry and Trade Banking 4.30% 123.452 Military Commercial Joint Stock Bank Banking 7.16% 1.242.989 Orient Commercial Joint Stock Bank Banking 5.07% 144.802 Small & Medium Enterprises Credit Guarantee Fund Credit services 0.80% 1.864 Card and settlement SWIFT, MASTER and VISA services 2.936 Petrolimex Insurance Corporation Insurance 10.04% 67.900 Petrovietnam Drilling and Well services corporation Drilling 0.21% 5.496 Vietnam Credit information Joint Stock Credit information Company (PCB) services 6.64% 7.962 Cement Finance Company Financial services 10.91% 70.950 Vietnam Infrastructure development and financial investment JSC. Highway investment 1.97% 75.000 Vietnam National Financial Switching JSC. Card services 2.99% 4.400 Vietnam Airlines JSC. Aviation 2.00% 499.602

2,829,418

huhhuuuuuunnundfllll‘l (6) Provision for long-term investments

31/12/2016 31/12/2015 VND million VND million

Provision for investment in subsidiaries 103.692 Provision for investment injoint-ventures 2.842 4.569 Provision for other long-term investments 14.348 31.220

Closing balance 120.882 35.789

Movements in provision for other long-term investments were as follows:

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Opening balance 35.789 25.84l ‘2‘ I’rox ision made during the )Car (see Note 30) 85.093 trims in (filming balance 120.882 35.789

13 nun—u-unn-IIIIIIIIII 12. 'l'angihle /\(l(lili(m\ ()peninp, ('osl Decreases Additions ()pening Accumulated (‘los‘ing l)cerc.'|scs (‘losing Opening Net (‘losing Joint 101' N;111118101111,Sll’ARA'lLI ()I/Icrx I’Hn-lmwv ()I/mw [Nix/mxd/ ( ()I/u'n His/mull ()I/u-rx book the 'lmre'm Stock year balance balance balance lullanee lmlanee balance value ti fur ended ( depreciathm xed 'ommereial I/l('_11‘(ll‘ assets 31 1)eeeinl>er2016(emilimled) Bank VNI) 3,060,] 2.564817 2,552,720 2,187,603 Premises [NAM 507,450 377.244 1/ 503,158 135, 135.806 million (5,600) (LO-1‘); (5,886) (7,835) H.523) (4,1)") for 3-1,.‘3‘46 "8,.1/3 620 70 Foreign N6 1A1,S"l/\'llleuNlS VNI) fittings equipment furniture, 3,325,542 3,076,928 2,928,618 2,653,166 (l(;,h'82) ( 07,308) 06,852) 205,631) 265,949 396,924 423,762 292, 292,760 I Trade million Office 7,335) (453) (426) and 3/9 760 of VNI) Vietnam Vehicles ( (/0, (H), (10,072 726,160 665,503 41 254,326 253,751 471,834 10,076) million 70,733 Motor 70,154 7/), 70,154 1,752 072/ (172) 733 (4) ) VNI)

( (/3311er ‘zrr'ulur (/0, (11,869) ( (10,300) 834,773 [48,57] 680,276 532,163 395,743 166,366 302,610 284,533 146,474 146,825 million Others 10,405) (1,103) /7, dale/1 (/05) m 766) .‘v'u 795 351 unsure/ante j 4/“2’0/4 l’orm / December VN 6,987,554 7,946,645 3,837,905 1,006,206 3,506,580 3,149,649 4,440,065 D 1305/1 (43,606) (47,115) (41,331; (43,385) 645,008 645,545 963,246 ”//'-,‘.'//.‘~."*.' (3,509) (2,054) 42, million w Total 116 537 96/) 20/4; (.TD 5/” V Joint Stock (‘omlm'rcial Bank for Foreign Trade of Vietnam 1‘ orm 1105/1 C”) (I; cum] m a! (,'/I/',[//1I’IC/f m 11/1 .87} V NHII'S 1() 111181 1’A1

13. Intangible fixed assets

Copyrights Land use rights & patents Others Total VNI) million VNI) million VND million VND million

(‘ost ()pening balance 1,609,549 477,772 76,774 2,164,095 I’Im 'lmxm 242, 780 64,198 306,978

(‘losing balance 1,852,329 541,970 76,774 2,471,073

Accumulated amortization ()pening balance 28,171 452,472 61,560 542,203 ( 'llurIg'uy/OI' I/Ic year 7,233 24,589 31,822

(‘losing balance 35,404 477,061 61,560 574,025

Net book value

-u-nnunn-u-Illlll Opening balance 1,581,378 25,300 15,214 1,621,892

(,‘losing balance 1,816,925 64,909 15,214 1,897,048

14. Other assets

(2!) Receivables

31/12/2016 31/12/2015 VND million VND million

Internal receivables 861,496 753,239 12‘.\‘ternal receivables (i) 1,646,200 1,472,997

2,507,696 2,226,236

‘14 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOSNCTI) (Issuedin accordance with 5/31" NOTES TO THE SEPARATE FINANCIAL S'l‘A'l'lZMliN'l‘S ( 't'rcular No. 4 9/20/4/77'77-NlIMV for the year ended 31 December 2016 (continued) dated 3 1 December 20/ 4/

14. Other assets (continued)

(a) Receivables (continued)

(1') [irterna/ receivables

31/12/2016 31/12/2015 VND million VND million

Advances for purchase of fixed assets 109,277 145,888 Receivables from the State Budget in relation to the interest subsidy program 195,883 151,777 Advances for corporate income tax (see Note 34) 67 167 Advances for value added tax (see Note 34) 1,160 5 Advances for other taxes (see Note 34) 2 265 Construction in progress (*) 403,880 767,021 Other receivables 935,931 407,874

1,646,200 1,472,997

(*) Construction in progress

31/12/2016 31/12/2015 VND million VND million

Construction in progress 403,880 767,021

In which, large constructions include." 281,995 410,052

-Hung Yen Branch construction 128,871 706 auuhuu-uuuuauiillilil -East Sai Gon Branch construction 45,323 75 -Binh Thuan Branch construction 37,623 31,348 -Vung Tau Branch construction 30,112 30,056 -Binh Duong Branch construction 14,170 583 -Khanh Hoa Branch construction 11,072 11,072 -Thai Binh Branch construction 9,750 6,026 -Dong Nai Branch construction 3,211 132,890 -Ha Noi Branch construction 837 24,566 - Ha Tinh Branch construction 595 10,158 -Thanh Hoa Branch construction 431 162,572 *I 'Ai 4 a «.4 «4‘ auhhhhihhlflflII‘III"‘ (0) 15. (b) 14. Amounts Other Accrued Other From From From From Other Advance Advance Materials Prepaid NOTES Joint Deposits Demand Other Borrowings Borrowings for the derivatiVe balances investment loans borrowings assets assets Stock year assets expenses TO interest deposits for for from to due ended on THE from rental card Commercial customers w the the transactions (continued) ith securities to payment for SEPARATE from and 31 the basis SBV land and the office December SBV fee loans the of Government credit and receivables Bank State to Fl\'A\_'ClAL fixed other 2016 profiles Treasury for assets credit (continued: Foreign and rental institutions STATEMENTS Trade the State of Vietnam Bank V51) VND VND of 31 31/12/2016 42,752,358 31/12/2016 54,151.413 5.746.557 3.474.301 2,227,775 1.8.".602 1.064.360 6.768.253 3903.81 4,630.802 Vietnam 12 354.291 252.750 461.401 million 726.991 million million 20.286 24.368 9-1.9'3 2016 1 Form VND VND \.\'D I... .-~_ 31/12/2015 31 41.479.553 26.049.857 31 12.567.738 2.861.958 4.815.506 3.041. 2.321.634 . 1 .-; Bit" .582 54032—1 324.000 986.158 ‘ \§. 12 12 million 100.432 million million 88.824 3. A-_O 2015 2015 TCTD .051 .,. .2 5-. fi ‘ ‘ ~10 04 00 \“ '\‘t —. -. Joint Stoek (‘ommereiul Bank for Foreign 'l‘rade of Vietnam l’orm 1105/1611) t/umu/ m .itx‘t ’I'tlltl’lt't' \l’II/l Sli’l .\'Dl‘l7\f 10 I‘ll!" \.‘l5l‘.\l\‘ \ l'l" l-'l\.'.-\.\'t‘l.\l \f l‘.\ l’l’.\ll-‘\:' 18 ( 'I/t‘H/dr \o J‘) SUI-J 'I'l'-.\'II.\',\‘ for the \_e;n' ended 31 Deeeml‘er 2016 (continued) Millet/3] Decent/tor 30/4)

16. Deposits and borrowings from other credit instittttions

31/12/2016 31/12/2015 \"ND million VND million

Deposits from other eredit institutions 53.491.202 52.011.179 Demand deposits in \'\.'D _\‘.248.97’l (1.090. I 20 Demand deposits in foreign currencies 38,427.32: 35. l 30.569 l‘erm deposits in \'\.'D 0.253.000 3.910.000 l‘erm deposits in foreign currencies 5.56 l .009 6.87 l .490

Borrowings front other credit institutions “3846.530 20.l83.300 Borro“ ings in \'\.‘D 3.000.000 l(i.462.000 Borro“ ings in foreign eurreneies 14.346530 3.72 l .300

71.337.732 72.194.479

17. Deposits from customers

31/12/2016 31/12/2015 VND million VND million

Demand deposits 159.642.318 141.148.372 Demand deposits in \'\.'l) 120440.367 10 l .3 84.626 Demand deposits in gold. toreign eurreneies 39.20 I .9551 39.763.746

Term deposits 423.351.882 354.428.580 Term deposits in \'\.'D _\‘53._\‘02.007 I 83.783.825 Term deposits in gold. foreign eurreneies 70,049,875 70.644.755

Deposits for specific purposes 6.227.201 4.825.700

\ilargin deposits 1.689.335 1.107.933

590.910.736 501.510.585

Deposits from customers h) customer t_\pes \\ ere us tollons

31/12/2016 31/12/2015 VND million \'\.'D million

lieonomie entities NLRB—1.7.03 3 325.712.8113 lndi\ iduuls 3‘26.9(H.‘.703 275797: 83

590.910.736 501.510.585 Iiiii 1 (a) 20. 19. 18. Accrued Other Valuable Derivative Long-term Medium-term Medium-term Short-term Short-term l‘or l5or For For For Bonds Medium-term \11edium—tcrm Short-term Certificates t‘urreue} l-‘omtu'd Derivatives Joint lot NUII'N trusted derivative \aluable deposits deposits the Stock and liabilities “\t‘dl' interest eonttm‘ls It) s\\ in intestment in in in bills papers and from ended papers up of ill!" VNl) ( toreign \’\.:'l) linmteiul toreign transactions in in in in 'onunet'eiul deposits contracts borro“ foreign \’N[) tt‘wrelgn \'.\‘l) customers and \.‘I t'l issued l,.\l\'.‘\ currencies currencies issued December fee ings currencies currencies instruments payables lluuk from l‘I‘ I‘lN.\Nt'l.\l 30 other l'or l (v Notionul teoutinued) It'oreign credit \'NI) 23,703,340 31.3 and 2..“ \.'|'.\ institutions million 38.490 H.850 3|/l2/20|(i 'l‘rutle vulue other l'l‘Ml‘N of VNI) limmeiul Book Vietnam ['5' 230.658 207.240 million 2.3.400 Value \"ND VNI) ussets/ 31/12/2016 31/12/2010 10.005.376 Notionul 0.449.922 6.07.4.2)? 6.000.000 3.009, 9,999,953 VNI) 258.740 million million (3-1.0 49.768 10.728.377 5.423 ( 1 4.03 7.78-1. 8.0.14.2}! \‘Irib (/MIu'J/H '11‘.‘H/.1r.\'o 324 7‘) l l (Ii.-tlu'lities) million 4 l 03 ()3 l 31/12/2015 (t 2 \‘ulue 7 l l Julia/1'] IS.“ .Im 4‘) Form VNI) VNI) VNI) v./.m.'i' I’rn'In/H'I .‘UIJ 31/12/2015 Book 31/12/2015 4.0%.”! 4,070.45“ 2.007.070 2.000.882 2.000.989 "057” 688.57” million 'I'I' million so‘too ntillion it 6.081 \‘tlllll‘ 5.450 uh \//\',\ 028 15 415 210 .‘U/ 103 47 NIH TI) l" 7 1) Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issuedin accordance with S!)V ( 'I'rcular N0. 4 9/20] 4/17-'NlINN for the year ended 31 December 2016 (continued) dated 3 I December 20/4)

20. Other liabilities (continued)

(b) Other liabilities

31/12/2016 31/12/2015 VND million VND million

Internal payables (i) 2,012,642 1,686,030 "1 Extemal payables (ii) 2,865,944 3,595,586 r1 Bonus and welfare fund 1,220,578 1,198,437

6,099,] 64 6,480,053

(i) ‘Llnterna/(lab/es

31/12/2016 31/12/2015 VND million VND million

Payables to employees 1,743,210 1,490,490 Other liabilities 269,432 195,540

2,012,642 1,686,030

(ii) ___LJ_External(I’dblé’S

L 31/12/2016 31/12/2015 VND million VND million L Tax payables (see Note 34) 216,778 231,974 Corporate income tax payables 103,852 163,624 Value added tax payab/es 28, 953 24,502 .J Other tax payab/es 83,973 43,848 Unearned interest income 32,966 30,483 Payables for construction and acquisition of fixed assets 128,468 137,828 Deposit in custody relating to pending payments 154,011 182,1 15 Other payables to customers 525,297 189,171 Other pending items in settlement 346,219 106,740 Other payables to the State relating to interest subsidy program 64,528 64,528 Fund received from other entities 1,500,000 Borrowings from the Ministry of Finance 651,693 545,838 Other payables 745,984 606,909

2,865,944 3,595,586

to Joint Stock (‘ommercial Bank for Foreign Trade of Vietnam Form BUS/T611) {/s 1Ire/1 m (1/ (Jr/rdanw 1111/? SI} 1' \t1ll \‘ 10 11115 Slil’ARA'l‘li FINANCIAL S'l‘A’l‘liMliN'I‘S ( Ir(.‘u/ur.\o 4') 20/4 77-.'\//,'\.'\.' tor the _\e;11‘ ended 31 December 2016 (continued) duly/1 i/ December 20/4}

1 - 1. Capital and reserves

Statement of changes in equity

Charter capital Share premium Charter reserve Financial reserve Total Retained profits Total

VND million VND million VND million VND million VND million VND million VND million

Balance as at 1/1/2016 26,650,203 5,725,318 1,588,579 3,160,928 4,749,507 7,135,363 44,260,391

Net profit for the year 6,611 ,11.079 6.61 1.929 Issuing bonus shares to raise capital according to the resolution ofthe General Meeting of shareholders (5,724,125) Reserves temporarily appropriated 661 ,193 (1.190.383) from profit 1012016 1tililation during the year (7,300) (7.300) 1-\penses for issuing shares tor foreign strategic shareholders (1,193) (1.1931 Adjustment for reserves appropriation for 2015 according to the General Meeting of shareholders (1,246) (112) 1)1\1dend paid during the year (2.665.020) 1 ither decreases 46

Balance as at 31/12/2016 35,977,686 1,917,929 3,812,328 5,730,257 5,300,415 47,008,358

1/, O 'd-‘niii-fl-I-III' 22. (1)) 21. The Interest The Details Capital Ordinary Outstanding Ordinary Issued Authorized for NOTES Other Income Income Interest Interest Interest Other Foreign The Ordinary Joint par the Bank‘s Interest Interest State income shareholders value year share Stock from from income income income of TO strategic shares shares and and ofVietnam shareholders authorized shares income income ended share THE of debts guarantee from shares capital Commercial from from each from similar reserves shareholder SEPARATE 31 trading credit from from capital ordinary trading deposits loans December and activities trading investment activities income of activities issued to (continued) and Bank customers the share (Mizuho FINANCIAL 2016 securities investment share Bank 3,597,768,575 3,597,768,575 3,597,768,575 is for securities VND10,000. Number (continued) capital Bank Foreign shares debt 31/12/2016 Ltd, STATEMENTS is of as securities Trade Japan) follows: VND 35,977,686 35,977,686 35,977,686 of million Vietnam 2,665,020,334 2,665,020,334 VND 2,665,020,334 VND Year 37,417,766 31/12/2016 29,036,947 35,977,686 31/12/2016 Number 27,743,534 6,440,331 6,529,250 2,837,467 1,463,430 5,396,685 313,387 million million 66,752 88,919 ended shares Circular 8,000 (Issued 31/12/2015 of dated in No. accordance Form 3] 49/2014/YTT-NHNN VND VND VND Year December 31,194,938 31/12/2015 31/12/2015 24,381,184 26,650,203 26,650,203 26,650,203 26,650,203 20,550,766 5,048,235 5,282,657 1,177,956 2,101,893 3,997,544 BOS/TCTD 283,154 234,422 million million 30,117 39,870 million ended with 20] SB 4/ V Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD IIssued in accordwice 1177/1 SBI ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular No. 49 30/ 4 TI"-1'\'H,\'_\' for the _\ear ended 31 December 2016 (continued) dulet/ 3 / December 30/4)

23. Interest and similar expenses

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Interest expenses on deposits (17,967,478) (14.985739) Interest expenses on borrowings (835,387) (587,937) Interest expenses on valuable papers issued (287,145) (240,026) Others expenses on credit activities (55,701) (76,213)

(19,145,711) (15,889,915)

24. Net fee and commission income

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Fee and commission income from Settlement sen ices 2,744,072 2.130.027 Cash sen ices 215,643 186.393 Trusted and agenC} actix ities 3,072 2.636 Other sen ices 1.185,944 958.718

4,148,731 3,277,774

Fee and commission expenses for Settlement services (1,694,872) (1.280848) Cash sen ices (58,074) (50.158) Telecommunication services (88,295) (76.999) Trusted and agency activities (442) (327) Other services (315.287) (224.032)

(2,156,970) (1 ,632.364)

1,991,761 1,645,410 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form B05 T(‘ 1‘1)

..\.\‘.'.c‘..‘ 93.51?" “Hui \1.‘."':.\‘."” V, .. 1, \ 1 \ O ."F 5 TO Til? SE71“ \R \ ll: l‘l\ \\t‘l \l \QlV\ l‘l‘\ll5\ l8 . c. 4“ .‘1‘ .'-."1"1'—'\}1’\ \ ..‘~\ ~ - \ . ,4 .\_ .1.“ AWJ“ ‘31 ‘ t .. . 1”1'Ct"'i.'\"'-t]. 1x. 1..» \\.l. 5 t\.§\. ,i“ l‘cce!.‘ti‘cr :0 i o 1coiitii.11:-.\i\ ~I'

25. .\'et gain from dealing in foreign currencies

Year ended Year ended 31 12 2016 31 12 2015 \'\.'D million \'\.'D million

Gains from dealing in foreign currencies Front foreign currencies spot trading 2.05".»“0 2.008.544 From currnenc) deri\ an) es 304.3"8 205.300 From foreign exchange rate differences LSbS (163.181 Front re\ aluation ofde1‘1'\ati'\ e contracts 4.020

2.969.045 3.902.085

Losses from dealing in foreign currencies From foreign currencies spot trading (444741) (952.813) From currenc‘} deri\ ati\ es (451343) (1.352.441) From foreign exchange rate differences (108.51 I) 25.431) From re\ aluation of deri\ am e contracts (10.03 7)

(1.119.632) (2.330.685)

1.849.413 1.571.400

26. Net gain from trading securities

Year ended Year ended 31/12/2016 31/12/2015 \"ND million VND million

Income from trading securities 513.454 295.597 Expenses on trading securities (51.563) (120.310)

461.891 175.287 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 805 TCTI) (Issueti in am in /. m, 1' 1111/1 NIH \f01‘l38 10 11113 \CI-‘I’;\l\’;\l‘l,§ I-‘1\,';\\.'L‘1.~\I \."1‘.~\I‘I-‘\.Il{\f 18 Circular \0. 4° 311/4 'l'l—‘,\'l/i\ \ for the _\e;1r ended 31 December 2010 (COIIIlIIIlCdl Jam/31 December3/1/41

27. Net (loss)/gain from investment securities

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Income from trading inVestment securities 52.590 192.649 Expenses on trading im estment securities (142.006) (13.381)

(89,416) 179,268

28. Net other income

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Other income Income from recoVeries of loans preViousl)‘ written off 2.120.227 1.831.996 Income from debts trading activities 57.110 212.882 Other income 108.460 90.921

2,285,797 2,135,799

Other expenses Expenses from interest rate swap transactions (132.417) (4.310) Expenses from debts trading activities (2.026) (110) Expenses for social activities (216.968) (211.852) Other expenses (19.150) (14.118)

(370,561) (230,390)

1,915,236 1,905,409

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Joint. Stock (.ommercial Bank for Foreign 'l rade of Vietnam lorrn [$05 "I (,l l) // I ll, ' aw" .rr a(cor/irony: 4.27/3 /1(

I VI (7/ f 9'] HI, «’1’ 20/177- '-'//’-"~ dale/j :/ bra/(amber 20/ 4/

3]. Provision for credit losses

Year ended Year ended 31/12/2016 31/12/2015 VNI) million VNI) million

8pm ifi< prmision for credit losses of loans to other credit institutions (1‘ .p , l . ‘ Vt ' - u. v "' «it; ’1 ."..".1-," lil‘. (.24! l ,‘J- 'Ill‘. {1) 22,877

(:eneral provision for credit losses of loans to customers l‘r’nl’n'm forth:"H.w'1r(‘.cc "'ll‘_;(}) (664,947; (437,663)

Specific provision for credit losses of loans to customers ‘Illc 9) (5,105,194) l’r’nlyl'm for the 4near (’.‘.";' (3,0063929)

General provision for unlisted corporate bonds l’ro‘. won for the (near (as: ’Jote 10a and Mb) (33,170) (54,000)

Specific provision for unlisted corporate bonds and VAMC litinils l'roviuion for the year (we K(ole 10(a) and l()((;)) (2,675,350) (475,750)

(6,387,396) (6,049,730)

\Ify Joint Stock Commercial Bank for Foreign Trade of Vietnam Form B05/TCTD (Issued in accordance wit/7581 ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS Cirmlar No. 49 30/ 4 77-.N'H.\i\' for the year ended 31 December 2016 (continued) dazed 3 1 December 30/ 4 1

32. Current corporate income tax expenses

Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

Profit before tax 8,236,997 6,654,299

Ac_1’/'uslmcnl.s':

Dividend received during the year (see Note 29) (111,656) (82,379)

Taxable income 8,125,341 6,571,920

Statutory corporate income tax rate 20% 22%

Corporate income tax - based on applicable 1,625,068 1,445,822 corporate income tax rate

33. Cash and cash equivalents

31/12/2016 31/12/2015 VND million VND million

Cash on hand, gold, silver and gemstones 9,691,487 8,518,139 Balances with the State Bank of Vietnam 17,382,097 19,714,714 Balances with and loans to other credit institutions due within three months 141,873,354 121,103,574 Trading securities 3,249,805 9.06 1 .3 89 Investment securities due within three months 5,525,986 4,342,663

177,722,729 162,740,479 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 805 '1 CTI) .1 ’l; ' 1::or/L‘;/..'/.’ “"7 .11 ' 1 ‘ .w'.'..v1.. N01 128 'l (J 'l 111', Slal’ARA'l l; l-l.\'A\,'('l/\l. 81 A1 l,Vll.,‘\."l S 6 1/17/11" */_/.-‘11— '1’. ,. .7 1 lilr the }e:1r ended 31 December 2016 (continued) “4:1,. u:.:”.’x,v_,,4

34. Obligations to the State Budget

Balance as at Occurrence Balance as at 31 12 2016 1/1/2016 Payable Paid Payable Adxances Total V'\.'l) V'\_'l) VND V'ND V'ND \IVD million million million million million million

Value added tax 24.497 305.506 (302.210, FJ ca .9 UI (1.160) ._ . a: ‘\ Current corporate income tax 163.457 1.625.179 (1.684.851 ) 1 J b) .8 (II Np) (6"; 103.78" In which: — ( 'orporale Income lax o/ l’ieleomhunk 163,624 1,625,068 (1.684.840; 103.852 :03 5:- - Adjmlmenls on lax of previous years (112/ 112 /11/ - [if/eels of exchange differences on l'I'nd/ico lax obll'galion in 2008 {53/ {1/ Other taxes 43,583 537.804 (497,416)

35. Employee benefits

Year ended Year ended 31/12/2016 31/12/2015

Total number of employees (person) 15.164 14.295

Employees’ income Total salary and allowance (VND million) 4.836066 3.886.194 (see Note 30)

Monthly average income/ person (VND million) 26.58 22.65 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BUS TCTD

it"\\_‘ii't.~‘i".'ii."I»;_"‘r."'>"-‘i\.""‘\a.-".\t.i\\ ..e. \.'()l‘l{S 10 Till. Sl7l’.\R.\'l‘l{ FI\.'.~\\.'Cl.-\L STATENl[{\."l’S L‘."‘.".i.'.u \ ‘ 4U _" f4 7'“1-\}1'\ \

Vy 'v“- - - -‘-.‘ ‘ tor the year ended 31 December 2016 (continued) .A.u';u.‘i [lc-ecl’fs’ -L'.~

36. Contingent liabilities and other commitments

in the normal course ol‘business. the Bank is a party to financial instruments “hich are recorded as off- balance sheet items. These financial instruments mainly comprise financial guarantees and letters of credit. These instruments inyolye elements of credit risk in excess of the amounts recognized in the separate balance sheet.

Credit risk for off-balance sheet financial instruments is defined as the possibility ofincurring a loss because any other counterparty to a financial instrument fails to discharge its contractual obligations.

Financial guarantees are conditional commitments issued by the Bank to guarantee transactions of its customers \yith third parties. including loan guarantee. payment guarantee. perfomiance guarantee and bid guarantee. Such guarantees expose the Bank to similar credit risk to loans to customers.

Commercial at-sight letters ofcredit represent a financing transaction by the Bank to its customers where the customer is usually the buyer/importer of goods and the beneficiary is typically the seller’exporter. Credit risk is limited as the imported merchandise serves as collaterals for the transaction.

Deferred payment letters of credit contain the risk of customers not making payment to their beneficiaries upon contract performance. When deferred payment letters of credit are defaulted by customers. the Bank recognizes a compulsory loan to a customer and at the same time a corresponding liability representing the financial obligation of the Bank to pay the beneficiaries and to fulfill the guarantor obligations.

The Bank normally requires margin deposits to support credit-related financial instruments as necessary. The margin deposit required varies from nil to 100% ofthe value ofa commitment granted depending on the creditworthiness of customers as assessed by the Bank.

5‘) Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issued in accordance wit/1581 ' NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular .\'0. 4 9 30/ 4 TT-_\H'.\.'V for the year ended 31 December 2016 (continued) tidied 3 1 December 2014/

37. Significant transactions and balances with related parties

(a) Significant transactions with related parties

Relationship Year ended Year ended 31/12/2016 31/12/2015 VND million VND million

The State Bank of Vietnam (“the SBV”) Regulator Interest income from deposits at the SBV 124.475 107.562 Interest expenses 011 deposits and borrowings (160.765) (83.575) from the SBV

The Ministry of Finance (“the MoF”) Regulator Interest income from loans to the MoF - 4.908 Interest expenses on deposits from the MoF (204.319) (61.536) Interest expenses on borrowings from the MoF (26.959) (20,694)

Vietcombank Financial Leasing Subsidiary Company Limited Interest income from loans to VCB Leasing 86.969 76.572 Interest expenses on deposits from VCB Leasing (1.921) (4.423) Services fees 1.592 1.592

Vietcombank Securities Company Limited Subsidiary Interest expenses on deposits from VCB Securities (237) (1.414) Interest income from deposits with VCB Securities — 8.585 Fee and commission income from remittance services

Vietcombank Tower 198 Company Limited Subsidiary Interest expenses on deposits from VCB Tower (22.623) (25.431) Office rental expenses (87.437) (87.095) Dividend received from VCB Tower 95.015

Vietnam Finance Company Limited Subsidiary

Interest income from deposits with Vinafico U] Lu U: 00 5.298

(\(1 Joint Stock Commercial Bank for Foreign Trade of Vietnam F0 rm BOS/TCTD (Issued in accordance wit/158V NOTES TO T1115 SEPARA'I‘li FINANCIAL. S I‘A'l‘liMliN'l‘S ('It'tu/ur No. 49 /’/_'(}14,’7T-1’\"H1\’1’V’ for the year ended 31 December 2016 (continued) dated 3 I December 201-1)

37. Significant transactions and balances with related parties (continued)

(b) Significant balances with related parties

Relationship 31/12/2016 31/12/2015 VND million VND million

The State Bank of Vietnam (“the SBV“) Regulator Deposits at the SBV 17,382,097 19,714,714 ‘ Deposits and borrowings from the SBV (11,399,055) (15,429,696) ,«,\

The h’linistry of Finance (“the MoF”) Regulator Deposits from the MoF 42,752,358 26,049,857 Borrowings from the MoF (651,693) (545,838)

Vietcombank Financial Leasing Subsidiary Company Limited Loans to VCB Leasing 2,326,645 2,032,163 Deposits from VCB Leasing (208,972) (267,497)

Vietcombank Securities Company Limited Subsidiary Deposits from VCB Securities (12,625) (652,251)

Vietcombank Tower 198 Company Limited Subsidiary Deposits from VCB Tower 544,797 416,093 Office rental fee paid in ad\'ance 234,670 58,063

Vietnam Finance Company Limited Subsidiary Deposits “1th Vinafico 2,260,374 2,263,589

Vietcombank Money Corporation Subsidiary Deposits from VCB Money (81) (1,928)

Vietcombank Fund Management Joint—venture Trusted im estment - bonds 1,000,000

61 Joint Stock (‘ommereial Bank for It‘oreign Trade of Vietnam Form B05/'l‘("|‘l) (Inna/111 (kiwi/1111.6 it'll/[5111 .\'Ul‘l-‘\_‘ 10 11117 \.‘l‘1’.\l\’.\l‘l5 l~‘1\1‘.\1\l(‘1.-\1 \.‘1'.v\1‘1’1\ll’Nl‘\.‘ ( 'II'. 11/. 1r .Vr t 4‘) 301-! ’l'l-'-».\'l /.\'.\' lbr the _\e.~11‘ ended \‘1 December 2016 (continued) (/1 Ila/.1] l)('('e/11/)t'r'.‘()/4)

38. (.‘eographieal St‘glllt‘lll

l'lie Middle and The North The South Elimination Ta) .\'gti\_'en 'I'otill

\'.\‘I) million \"\.'1) million \'l\‘l) million \'Nl) million VNI) million

ln1erest and similar income ‘_'..‘.‘)‘13.l)(i\.‘ 0.149.109 25.273.478 (49997,\.'\.'«)) 37.417.766 4 lnlei‘est and similar e\penses (-l-l.‘.'\."_'.\.“>6) (0.5381261) (18.019.443) 49.99788“) (19.1-15.711)

\,et interest income 8.407.172 2.610.843 7.254.035 18.272.055

‘u l~‘ee and commission income 3.161.327 384.511 1.00.2.0"): 4.148.731 l‘ee and commission e\penses (_‘.l)(\(i.(\‘.'") (20.489) (60.334) (2.156.970)

[1 \.'et fee and commission income 94.670 364.023 1,991.76]

111 \Xet gain front trading foreign currencies 1.412.167 68.460 1 .849.4 1 3

IV Net gain from trading s‘u‘urities 461.891 461.891

Net gain from imestment securities (89.416) (89.416)

'Ji Other income 997.113 463,158 825.526 2.285.797 6 Other e\penses (216.354) (94.186) (60.021) (370.561)

\'1 Net other income 780.759 368.972 765.505 1.915.236

VII Dividend and net income from imestments in associates and joint—ventures 111.656 111.656

Total operating income 1 1.178.899 3.412.303 9,921,394 24.512.596

\'111 Total operating expenses (6.238.693) (983.337) (2.666.173) (9.888.203)

L\' \.'et operating profit before prorision for credit losses 4.940.206 2.428.966 7.255.221 [4.624.393

Provision for credit losses (4.288.739) (573,976) (1.524.681) (6.387.396)

.\'1 Profit before tax 651.467 1.854.990 5.730.540 8.236.997

Current corporate income tax e\penses ( 107.962) (370.998) (1.146.108) (1.625.068)

.\'11 Corporate income tax expenses (107.962) (370.998) (1.146.108) (1.625.068)

.\‘111 Profit after tm 543.505 1.483.992 4.584.432 6.61 1.929

Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issued in accordance with SBV NOTES TO THE SEPARATE FINANCIAL STATEMENTS Circular No‘ 49/20] 4/TT7T-NHNN for the year ended 31 December 2016 (continued) dated 3 I December 2014)

39. Disclosure of financial instruments

(a) Collaterals

The Bank does not hold collaterals which it is permitted to sell or re-pledge in the absence of default by the owner of the collaterals.

(b) Fair value disclosure

Circular No. 210/2009/TT-BTC requires the Bank to disclose the measurement method and related information of fair value of financial assets and financial liabilities for the purpose of comparing their book value and fair value.

The following table presents book value and fair value ofthe Bank’s financial assets and liabilities as at 31 December 2016:

63 John Stock (‘ommercial Bank for Foreign Trade of Vietnam Form 805/] (Ill) (/8 sued in accordance w Ilh ‘i/Il’ \(III S It) 'l‘Illi SliI’ARA'l'Ii FINANCIAL S'I‘A'I‘liMliN'l‘S ([rm/or No 49/20/ 4,”/'/« ill/NV for the _\ear ended 31 December 2016 (continued) dated 3/ IJar/miter 20/ 4/

39. Disclosure of financial instruments (continued)

(In Fair value disclosures (continued)

Book value lair Value

Held for Ileld to Loans and Available Recognized Total of trading maturity receivables for sale at amortized book value cost VNI) million VNI) million VNI) million VNI) million VNI) million VNI) million VNI) million

Financial assets Cash on hand, gold, silver and gemstones 9,691.487 9.691487 11 Balances with the State Bank of Vietnam 17,382.097 17,382.097 III Balances with and loans to other credit institutions 69,609,857 51,014,972 153,555,262 153979.631 IV Trading securities 3,249,805 3.288.824 Derivative financial instruments and other financial assets 230,658 230.658 VI Loans to customers 457,137,817 457,137,817 (*) VIII Investment securities 79,898,684 51,923,760 131,822,444 ],1x 5. 116.618 IX Other long—term investments 2,829,418 2, 29,418 2. 815,070 XII Other financial assets 8,202,541 8,202,541 (*)

63,484,480 149,508,541 516,355,330 54,753,178 784,101,529 (*1

Financial liabilities I.II Deposits and borrowings from the SBV and other credit institutions 125,489,145 125,489,145 125,747,894 111 Deposits from customers 590,910,736 590,910,736 (*) VI Valuable papers issued 10,005,376 10,005,376 (*) VII Other financial liabilities 7,539,976 7,339,976 (*)

733,945,233 733,945,233 (*l

ixI; Due to insufficient information available for applying valuation techniques, fair values ofthe financial assets and liabilities that do not have quoted market prices are deemed to be not reliably measured and therefore not disclosed. Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issued in accordance it [1/2 .SB'l ' NOTES TO THE SEPARATE FINANCIAL STATEMEN;"I'S Circular No. 49 20/4 TT-.\'Hl\.'\' for the year ended 31 December 2016 (continued) dated 3/ December 2014/

39. Disclosure of financial instruments (continued)

Risk management policies for financial instruments

The Board of Directors has the highest rights and responsibilities for the Bank‘s financial risk management to facilitate its sustainable growth.

llaving taken that responsibilities. the Board of Directors appropriately promulgates risk management policies and strategies for each period, establishes risk limits, directly approves high-value business transactions in accordance with legal and intemal requirements for each period. and determines organizational structure and key personnel positions.

Risk management strategies and policies are adhered to the Bank‘s charter and General Shareholders‘ Meeting resolution for each period.

The Risk Management Committee was established by the Board of Directors to assist the Board of Directors in managing all risks that may arise from the Bank’s day-to-day business operations.

The Asset and Liability Credit and Operational Risk Committee (ALCO) was established and chaired by the Chief Executive Officer. ALCO members are key personnel ofthe Bank being in-charge of risk management.

ALCO is responsible for comprehensively monitoring and managing assets and liabilities in the consolidated and separate balance sheet ofthe Bank in order to maximize profit while minimizing losses arising from negative market trends, manage liquidity risk and appropriately direct interest and foreign exchange rate schemes.

Within its authority, ALCO has the rights to make risk management decisions.

(1) Credit risk

The Bank is exposed to credit risk, which is the risk ofincurring a loss because its customers or counterparties fail to discharge their contractual obligations . Credit exposures arise mainly in lending activities relating to loans and advances to customers, and in investments in debt securities. Off—balance sheet financial instruments, such as loan commitments, also contain credit risk. The Bank controls and manages credit risk by setting up related policies and procedures, including the credit risk management policies and operational risk management policy by the Risk Management Committee and Credit Committee.

The Bank classifies loans to customers and other credit institutions in accordance with Circular 02 and Circular 09 (see Note 2(0), and regularly assesses credit risks of non-performing loans in order to haye appropriate resolutions.

In order to manage credit risks, the Bank has established policies and procedures relating to credit risk management: established credit manuals; performed credit risk assessment; set up internal credit rating systems and loan classification and decentralized authorization in credit activities.

The Bank‘s maximum exposure amounts to credit risk as at 31 December 2016. excluding collaterals and credit risk mitigations as follows:

ti." loint Stock (.‘ommercial Bank for Foreign Trade of Vietnam Form 1105/1611) (I8 am '(Im w '( “Fl/(UH 1' will: 5/} l’ N()'l‘l-,‘S ‘l () 'l 1112' Slil’ARA'l li l"lN/\N('l/\l, Si Al l-.MlzN'l S ( 'IH 'u/ur Nu. 49/2’0/4 ”/'/-',’V//.’V/\’ tor the year ended 31 December 2016 (continued) (/(Ilt‘d .1/ I)('( WIN/2W 20/4)

39. Disclosure of financial instruments (continued)

(c) Risk management policies for financial instruments (continued)

(1') ( 'rm/I'I risks (continued)

Neither past l’ast due Impaired and due nor but not fully made impaired impaired provision Total VNI) million VNI) million VNI) million VNI) million

Balances with and loans to other credit institutions — gross 153,555,262 153,555,262 Balances \xith other credit institutions 102,540,290 102,540,290 Loans to other credit institutions 51,014,972 51,014,972

Loans to customers — gross 440,419,980 1,917,011 14,800,826 457,137,817

Investment securities — gross 130,812,444 1,010,000 131,822,444 Available—tor-s.x'tlc securities 51,923,760 51,923.760 llcld-to-maturity securities 78,888,684 1,010,000 79,898,684

()ther assets 8,202,541 8,202,541

732,990,227 1,917,011 15,810,826 750,718,064

Types and book Value ol‘collaterals held by the Bank as at 31 December 2016 were as follows:

VND million

Deposits 53,666,664 Valuable papers 71,392,260 Real estates 339,931,848 ()thers 389,638,755

854,629,527

(\(i Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issued in accordance with SBI ' NOTES TO THE SEPARATE FI\.':\\.'CIAL STATEMENTS Circular No. 4 9 30/ 4 TT—.\'h’.\.'\' for the \_ear ended 31 December 2016 (continued) dated3] December 2014)

39. Disclosure of financial instruments (continued)

(C) Risk management policies for financial instruments (continued)

'11! luleresl rate risk

Interest rate risk is the risk that the future cash flows ofa financial instrument will unexpectedly fluctuate due to changes in market interest rates.

The actual interest re-pricing term is the remaining term starting from the date of the separate financial statements to the nearest interest re—pricing term ofthe items in the separate balance sheet.

The following assumptions and conditions have been adopted in the analysis of actual interest rate re— pricing term ofassets and liabilities in the separate balance sheet ofthe Bank:

Cash. gold. silVer and gemstones. long-term investments. and other assets (including fixed assets and other assets) are classified as non-interest bearing items. Trading securities are classified as up to 1 month.

The actual interest re-pricing term of investment securities depends on the interest rate from the issuers for each type of securities. - The actual interest re-pricing term of balances with and loans to other credit institutions, loans to customers. amounts due to the Govemment and the State Bank ofVietnam, deposits and borrowings from other credit institutions and deposits from customers are identified as follows: Items with fixed interest rate during the contractual term: the actual interest re-pricing term is based on the contractual maturity date subsequent to the separate financial statement date. Items with floating interest rate: the actual interest re-pricing term is based on the nearest re- pricing term subsequent to the separate financial statement date. The actual interest re-pricing term of valuable papers issued is based on valuable papers’ maturities and the Bank‘s interest rate for each issuance. The actual interest re-pricing term of other borrowed funds is from one to five years. The actual interest re-pricing term for other liabilities is from one to three months. In fact. these items shall have different interest re-pricing terms.

The following table presents the interest rate re-pricing terms of the Bank’s assets and liabilities as at 31 December 2016:

Joint Stock Commercial Bank for Foreign Trade of Vietnam Form 805 TCTD 1/sthe} 1n.1.;ur;1§111ee 3: 11/1 .8135 \0 118 1‘0 Tllli SEPARATE FINANCIAL STATEMENTS ( 111711.11' \u 49 SUI-1 77—‘~H‘- ‘v for the _\ear ended 31 December 2016 (continued) 1.1.1151} 31'I)eeunhr 3/1141,

39. Disclosure of financial instruments (continued)

(9) Risk management policies for financial instruments (continued)

’11) [INK/158111118 risk (continued)

Free of [11) to 1 From 1to From 3 to From 6 to From 1to Ox er Overdue Total interest month 3 months 6 months 12 months 5years 5)ea rs \"ND million VNI) million VND million VND million VND million \ND million VND million \‘ND million \CVD million

Assets (‘ash on hand. gold. sil\ er and gemstones 9.691.487 Balances \\ith the State Bank of Vietnam 17.382.097 Balances \\ith and loans to other credit 128.121.274 14.427.932 1.836.736 9.169.320 institutions gross 'l‘rading securities - gross 3.249.805 Derivatixe financial instruments: and other 230.658 financial assets .— 0 If) In Ir) CPI Os 1oans to customers A gross 5.370.114 106.220.223 166.608.73-1 119.891.217 16.867744 In If, "l‘ -r -r r. rl —r'.o "fl ’Y'IA'YJOG lmestment securities 4 gross 1.319.863 9.155.123 14.271.092 68.780936 I11 long-term imestments — gross 5.375.575 I" (If! Fixed assets 5.403.628 (/4 r "—

()ther assets gross 10482028 l

Total assets 5,370,114 30,952,718 256,293,262 190,422,447 55,769,316 85.648.680 “94.330301

Liabilities from the SBV 1.11 Deposits and borrowings 99.202499 13.294.989 8.931.097 4.060.560 125489.145 and other credit institutions 111 Deposits from customers 310.612.324 126.960.5174 79.619.827 71.232.640 2.485 3"] 590.910._3(‘ V1 Valuable papers issued 5.376 2.000.000 8.000.000 10.005.1‘6 \’11 Other liabilities 12.549086 12.549086

Total liabilities 12,549,086 409,820,199 140,255,563 88,550,924 77,293,200 10,485,371

Interest sensitivity gap 5370.1 14 18,403,632 (153,526,937) 50,166,884 47,448,121 (21,523,884) 75,163,309

7 Cumulative interest sensitivity gap 5,370,114 23,773,746 (129,753,191) (79,586,307) (32,138,186) (53,662,070) ‘- 1,501,239

Joint Stock Commercial Bank for Foreign2, Trade of Vietnam Form BUS TCTD I... . ,. r7. ,,,4, /.f., ,7 .

(Lu/{.4 .t 4,,8’x.J/‘, V’ \K NOT [:8 'l U Tllli SH’ARATI; l-l\.'.»’\\_'(.'l:\l. ST AT I;\A1L\T S C'.r::./. J 5/ for the year ended 31 December 2016 (continued)

Disclosure of financial instruments (continued)

Risk management policies for financial instruments (continued)

(A,ZFI'IAL_"UC1' risk

Currency risk is the risk that the \alue of financial instruments will fluctuate due to changes in foreign exchange rates. The Bank was incorporated and operates in Vietnam, with \\.'D as its reporting currency. The major currency in which the Bank transacts is V'ND. The Bank‘s loans and ady ances to customers are mainly denominated in V\.'D. L'SD and EL'R. Some of the Bank‘s other assets are in currencies other than VND. L'SD and EL'R. The Bank has set limits on currency positions based on its internal risk management system and relevant statutory requirements stipulated by the SBYt Currency positions are monitored on a daily' basis and hedging strategies used to ensure positions are maintained within established limits.

The following table presents the Bank‘s assets and liabilities denominated in foreign currencies that were translated into VND as at 31 December 2016:

(\‘l Joint Stock (‘onimcrcial Bank for Foreign Trade of Vietnam Form BOS/TCTI) (Issued in accordance with SB V \1) 11 S 1t) 1111“. SEPARATE FINANCIAL STATEMENTS ('I'rcu/ar M), 492(1‘14/7T-Nl INN M the ~\car ended 31 December 2016 (continued) dated 3/December 20 I4)

Disclosure of financial instruments (continued)

Risk management policies for financial instruments (continued)

t'urrwgyisk (continued)

VND USI) EUR Other currencies Total VNl) million VND million VND million VND million VNI) million Assets Cash on hand, gold, silver and gemstones 7,550,773 1,593,733 296,978 250,003 9,691,487 11 Balances with the State Bank ot‘Vietnam 11,205,486 6,176,61 1 17,382,097 111 Balances with and loans to other credit institutions — gross 97,765,192 34,187,356 16,418,418 5,184,296 153,555,262 IV Trading securities - gross 3,249,805 3.249.805 V Derivative financial instruments and other financial assets 6,906,789 (10,435,465) 3,489,440 269,894 230.658 V1 Loans to customers gross 376,728,793 79,819,258 183,123 406,643 45 7,137,817 \'111 lnvestinent securities A gross 76,424,944 55,397,500 13 1.822.444 1X Long—term investments gross 5,375,575 3,375,575s Fixed assets 5,403,628 3,403,628 X11 Other assets gross 9,158,241 910,286 315,342 98,159 10,4

794,330,801 Total assets 599,769,226 167,649,279 20,703,301 6,208,995

Liabilities 1.11 Deposits and borrowings from the SBV and other credit institutions 45,624,875 60,098,679 16,029,765 3,735,826 125,489,145 111 Deposits from customers 476,999,336 106,897,662 4,651,060 2,362,678 590,910.736 \‘l Valuable papers issued 10,000,161 5,215 10,005,376 V11 Other liabilities 11,821,948 591,687 20,141 115.310 12,549,086

Total liabilities 544,446,320 167,593,243 20,700,966 6,213,814 738,954,343

FX position on balance sheet 55,322,906 56,036 2,335 (4,819) 55,376,458

70 Joint Stock Commercial Bank for Foreign Trade of Vietnam Form BOS/TCTD (Issuedin accordance with SBl' ( ‘I'reu/ar N0. 4 9/2’ ()I 41"7T—NHMV for the year ended 31 December 2016 (continued) dated 3 1 December 30/ 4)

39. Disclosure of financial instruments (continued)

(C) Risk management policies for financial instruments (continued)

(it') l_1.1'(uidift' risk

liquidity risk occurs when the Bank fails to fulfil its financial commitments with customers or counterparties due to unavailability of funds or liquidity.

'l‘he maturity of assets and liabilities represent the remaining terms of these assets and liabilities from the separate financial statements date to the maturity date according to the underlying contractual agreements or terms of issuance.

The following assumptions and conditions have been adopted in the preparation ofthe Bank’s assets and liabilities maturity analysis in the separate balance sheet:

Balances with the SBV are considered as current accounts including the compulsory deposits;

The maturity of investment securities is based on redemption dates of each securities established by the issuers ofthese financial instruments; The maturities of balances with and loans to other credit institutions and loans to customers are based on the contractual maturity date. The actual maturity may vary from the original contractual term when the contract is extended:

The maturity of equity investments is considered to be over 5 years as equity investments have no maturity: and

Deposits and loans from other credit institutions and deposits from customers are determined based on either the nature ofthe loans or their contractual maturities. For example, Vostro accounts and current accounts paid upon customers‘ demand are considered to be demand deposits, the maturity of term deposits and borrowings is based on the contractual maturity date. In practice, such items may be rolled over and maintained for longer period.

The following table analyses the remaining terms to maturity of the Bank’s assets and liabilities as at 31 December 2016: r, 4% III.

Joint Stock (‘ommercial Bank for Foreign Trade of Vietnam Form BUS TCTD tissue/J m ac LYI’KAUICE a 11/7 .881 i \t‘ll R 10 1111; SEPARATE FINANCIAL STATEMENTS (‘Irm/Jr No. 49 2/174 77- VHV\ tot the )ear ended 31 December 2016 (continued) Jam! 3/ December 2014‘;

Disclosure of financial instruments (continued)

Risk management policies for financial instruments (continued)

1'.‘11211.//Li‘/‘isjt (continued)

Not overdue Overdue over 3 ()i'erdue up Total months to 3 months [p to From 1to From 3 to From 1to Over 1month 3 months 12 months 5 _\ears 5 years \';\'D million VNI) million \'.'\JD million \'.V[) million VND million VND million \ND million VND million

Assets (‘ash on hand. gold. si1\er and gemstones 9.691.487 II Balances \\ ith the State Bank ot‘\'ietnam 17.382.097 III Balances “ith and loans to other credit 127.951.183 14.422.171 9.546.870 1.635.038 institutions gross lrading securities gross 3.249.805 l)eri\ati\e financial instruments and 230.658 731.1658 other tinancial assets In 0‘ coed—r \‘I loans to customers A gross 4.209.700 1.160.414 41.091.690 105.680.864 145.920.120 99.428564 46.465 457.137.81— t") tr,

\'111 1m esttnent securities A gross 1.319.863 4.206.123 9.905.519 82.790936 00.003 i'ft 131.822.444 In If. 'rl l.\ Iong-term in\ estments. w gross < 2"; <"i II) C r't c (1 3') 1‘i\ed assets 5 _\'ll ()ther assets 10.482.028 111.482.1128

Total assets 4,209,700 1,160,414 200686.125 135021.844 165,372,509 183,854,538 104,025,671 794.330.801

Liabilities L 11 Deposits and horro“ ings from the SBV 99.192.091 13.147.845 12.448.244 608.814 02.151 125489.145 and other credit institutions III Deposits from customers 165.017.003 139.386.454 175.814.475 44.542.133 66.150.6‘1 590911.736 \I Valuable papers issued 5.376 4.000.000 6.000.000 10,005 37' a \'11 Other liabilities 12.549.086 12.549086

Total liab ilities 264,214,470 165,083,385 188,262,719 49.150.947 72.242.822 738.954.343

\et liquidity gap 4.209.700 1,160,414 (63,528,345) (30,061,541) (22,890,210) 134,703,591 31.782.849 55.376458

Joint Stock (‘ommcreial Bank for Foreign 'I‘radc of Vietnam Form 805/11 "I'D 1/.\.\'Ht'./Intitutit/.ma'it'll/1N]?! \COI‘lrS 10 I‘ll}: \_‘l~‘l‘r\l\’.-\ll3 l~‘l-\r'.\\t’t‘l.\l \r'l‘,\1'l‘l\llfl\11\f ('Irr‘H/tlr \u. 4” .‘(ll-J '/'/~'r\/It\.\ for the _\car ended 31 December 2010 (continued) Jam/3] lh'cwn/W‘J(1/JI

40. Notes to changes in profit

l‘lte increase in net profit alter tax ot‘the Bank for the )ear ended 31 December 2010. b_\ \ND 1.1103 billions (equiv alent to 30.000) in contparison to that lor the )ear ended 31 December 2015. \\ as due to the increase in its profit before tax ol‘VND 1.583 billions (equiutlent to 23800). dri\ en mainly b\_ the t‘ollo“ ing items:

Impact

Absolute value Relative value VNI) billion % Items which have significant movements Increase in fee and commission income 871 13.09 Increase in net gain from tmding securities 287 4.31 Increase in income from loans pre\'iousl\_' written off 288 4.33 (in other income)

1.446 21.73

41. Events after the separate financial statement date

As at the preparation date ofthe separate financial statements there have not been any significant events that have arisen since 3 1 December 2016 that may significantly affect the separate financial position of the Bank as at 3 1 December 2016. the separate results of its operations and its cash flows for the year then ended uhich require adjustments or disclosures to be made in the separate financial statements for the year ended 31 December 2016.

42. Approval of the separate financial statements

The separate financial statements were approved by the Board of Management on 29 March 2017.

Hanoi, 2 9 March 201 7

Prepared by: Approved by:

Ms. Nguyen Thi Thu Huong Ms. Phung Nguyen Hai Yen

V 11/“ / Deputy Director of Accounting Policy Deparrment ChiefAccountant Deputy ( 'E()