1

Overview of VietinBank

1988 2009 2010

• Vietnam Joint Stock Commercial Bank for Industry and Trade (“Vietinbank”) is a leading financial and banking group of Vietnam with diversified activities

• Established in 1988, upon its separation from the State Bank of Vietnam (“SBV”)

• In 2008, the Vietnam Bank for Industry and Trade successfully undertook its Initial Public Offering

• The Bank was equitized and renamed into Vietnam Joint Stock Commercial Bank for Industry and Trade in July 2009

• As at 31/Dec/2010, VietinBank has total assets of VND367.7trn accounting for a 12.7% market share, total customer deposits of VND[205.9]trn, accounting for 12.1% of the market share and total customer loan of 231.4trn accounting for 10.4% of the loans market share

• Provides a range of banking and financial products and services (retail banking, trade finance, Internet banking, etc.) as well as manages correspondent banking relationships ~1000 banks worldwide

• Present in 63 provinces and cities and has the 2nd largest distribution network in Vietnam

VietinBank has formidable franchise with strong market share

(As at 31/12/2010)

Overview

12.70%

12.10%

10.40%

15.00%

23.00%

Assets

Deposits

Loans

OverseasRemittance

Credit CardBusiness

2

Key business lines and product portfolio

Product portfolioKey business lines

Corporate and financial

institution banking

SME banking

Retail Banking

International Banking

• Offers credit lines, syndicated loans and project specific loans

• Corporate loans constitute 45% of gross loans as at 30 Jun 2011

• Interbank and valuable papers trading

• Trusted and pioneering bank for SME clients• SMEs constitute 35% of gross loans as at 30 Jun

2011

• Range of consumer lending products, including business and consumer loans

• 1,093 branches, Transaction offices and Saving offices

• Trade financing, international settlement and overseas remittance services

Card Services

Import-export payment

Derivative products

Overseas remittance

Foreign exchange

Guarantee

Securities

Other products

• VietinBank cards and international credit cards

•Export/Import LC confirmation, transferring, settlement

•Document processing, shipping guarantee issuance

• Spots, forwards, swaps and options

• Speed remittance through remittance companies

• Spots, forwards, swaps and options• Interbank market

•Guarantees for loans, advanced payment, performance, payments, tax/customs, warranty

•Brokerage services, securities custody analysis and investments etc.

•Money transfer, leasing, insurance, individual and corporate savings

3

Second Largest Branch Network in Vietnam

North: 1 MOC & 71 branches

Central: 28 Branches

South: 50 Branches

1 Main Operation Center in Ha Noi

1,093 branches, Transaction offices and Saving offices

2 Representative offices in Da Nang

and Ho Chi Minh City

2 Joint-Venture Companies

6 Subsidiaries

3 non-profit making units

Multiple touch points for individual and corporate customers across Vietnam Expanding network overseas

• Opened a branch in Frankfurt in September 2011

• Plans to open branches in Berlin and Laos in 4th quarter of 2011

• Plans to expand network to England, France, Czech, Poland and South-east Asia nations in 2012

Branch expansion plan

Strong distribution footprint in Vietnam with significant expansion potential

Correspondent Banking Relationships with nearly 1.000 financial institutions in the world

2

3

1

4

VietinBank’s Credit Strengths

Customer Base

Products & Services

Technology & Management

Human Resources

Network

• Good knowledge of customers with a large number of traditional customers

• Large and increasing source of deposits

• Large lending customer base

• Diversified products and services which are constantly improving

• Focused investments on modernization, software application in banking management

• Management system which complies with the standard of modern banking management

• Professional, secured and modern model of operation and management

• Young, enthusiastic competent and well-trained staff and management

• Second largest bank in Vietnam in terms of assets

• Wide network of diversified business lines with central and convenient locations

5

Performance Highlights

2011 Target H1 2011 Results 2010 Results

Total assets 441,000 395,852 367,712

Chartered capital 20,000 – 25,000 16,858 15,172

Total mobilized funds 408,000 226,286 339,699

Mobilized funds growth rate 20% 54%

Total loans 419,000 263,267 232,204

Total loans growth rate 20% 43.5%

Profit before tax 5,100 3,894 4,598

Profit after tax 4,000 2,919 3,414

ROE 16% – 18% 17.45% 22.1%

ROA 1.2% 1.12% 1.50%

NPLs ratio <3.0% 1.71% 0.66%

CAR >9% 10.41% 8.02%

Source: Company Data

TO BE UPDATED WITH 2012 TARGETS. Please confirm figures H12011 and 2010 Figures

We are waiting for the approval of the BOD for the 2012 targets. We will add the 2012 targets next week.

6

Vietinbank Subsidiaries’ Performance

Source: Company Data

SubsidiariesContributed

Capital (VND bn)

Ownership(%)

Total assetsAs at 30.06.2011

(VND bn)

Chartered CapitalAs at 30.06.2011

(VND bn)

Profit before taxAs at 30/6/2011

(VND bn)

VietinBank Leasing Company Ltd 500 100% 1,612 500 50

VietinBank Securities Joint Stock Company 500 75.61% 999 790 30

VietinBank Debt Management and Asset Exploitation Company Ltd 30 100% 41 30

0,6

VietinBank Insurance Company Ltd 300 100% 477 300 41

VietinBank Gold and Jewelry Trading Company Ltd 300 100% 330 300

17

VietinBank Fund Management Company Ltd 500 100% 1,133 500 26

Indovina Joint Venture Bank 696 50% 21,802 3,402 317.5

Vietinbank – Avia Life Inssurance Joint Stock Company 400 50% - 3,402 -

1

2

3

4

5

6

8

7

7

Ownership Structure

Stakes of Major Shareholders

80%

3%

7%

10%

State Bank of Vietnam

IFC

IFC Capitalization Fund

Others

Major shareholders’ support

Shareholder Support

Vietnamese Government

• VietinBank is currently 80% owned by the Government. Government’s share holding will not fall below 51% at any time

• The majority of Board of Director’s members are appointed by Government

IFC

• Conducting technical assistants to VietinBank in:

• Risk Management

• SME services

• Energy saving efficiency

• Information technology

• Standardization of other services

8

Strong Relationship with Government & SBV

•VietinBank is currently 80% owned by the Government

•Government’s share holding shall fall below 51% at any point in time under ..

•Government has been an active contributor to VietinBank’s capital raising on a regular basis

•VietinBank has 7 Board of Directors out of which 6 are nominated by Govt.

•Members of the Management Board needs approval by the SBV

•SBV is the direct regulator for the Bank’s operation

•Vietinbank is a pioneer bank in implementing government and SBV’ monetary policies.

Government Ownership

Explicit Government

Support

Appointment of Board of Directors

Under supervision of

the SBV

Implementation of Govt. Policies

9

Corporate Mission and Strategic Objectives

Continue to expand business vertically and horizontally to increase market share1

Enhance service quality to ensure the efficiency in the context of well-managed risks2

Improve financial capability and transparency3

Strengthen corporate governance and risk management in line with international standard4

Accelerate modernization of the Bank5

Become the leading financial group and key player in Vietnam6

Maximize stakeholder’s value7

MissionEstablish VietinBank as the leading financial group in Vietnam and highly rated bank in the international domain with motto: Safety – Efficiency – Modern – Sustainable growth, focusing on Commercial banking, Investment banking and

others

Overall Strategic Objectives

10

Strategic Objectives

Assets & capital

• Annual average growth rate of total assets 25-35%

• Acceleration of post-equitization process to increase shareholders’ equity

• Diversification of ownership while keeping the Government stake of at least 51%

• Strengthen capital base to enhance financial strength (CAR >=10%, ROE: 20-25%; ROA: 1.5-2.0%)

Organization & Management

• Manage and develop the organization with reasonable and clear hierarchy;

• Standardize internal policies and procedures in each department

• Develop and establish subsidiaries

• Expand business network both domestically & internationally;

• Strongly develop retail banking system

• Focus on risk management: maintain NPL ratio <=3.0%

Technology

• Establish a unified, modern, and secured information technology system, one which is highly integrated, stable, and centralized

Human Resources

• Standardize human resources, reinforce training and enhance staff capacities; all to improve the quality of the Human Resources

• Innovate and refine employment and remuneration mechanisms

• Completely comply with Internal Labor Regulation and Corporate Culture

Credit and Investment

• Credit operations remain key operations and stay market competitive

• Adjust credit structure appropriately, suitable for VietinBank advantages

• Enhance credit risk management quality, ensuring NPLs below 3%

• Diversify credit and investment activities in financial markets, remain a market maker, and enhance capital employment and liquidity management efficiencies

Products & Services

• Broaden customers & products base

• Develop non-banking products & services to increase share of non-interest income

• Use modern technology as the foundation for customer-centric services development

• Position the bank as a strong universal bank, providing a full spectrum of banking products & services

4

6

52

3

1

Others• Enhance marketing & PR• Improve social responsibilites & community services

7

11

Future Prospects and Plans

Development Plan for 2011 & beyond

Source: Company Data

Realize the Vision 2015: To become the leading, efficient, and modern banking and financial group for the economy4

Increase capital to ensure operational safety2

Invest in modern banking technology, standardize governance, products and services, procedures, and slowly integrate into the global financial system to enhance VietinBank’s brand name both in the domestic and overseas markets

3

Continue to accelerate post-equitization processes, enhancing competitiveness and integration1

12

166,113

193,590

243,785

367,712

295,009

395,852

161,619

234,205

184,911

263,267

148,530

192,208

118,602100,482112,426

121,634

155,965

205,919

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Total assets Customer loans and advances Customer deposits

VietinBank has enhanced its scale steadily

Assets and Loan Growth NII and Margins (*)

4,683

7,189

7,932

12,089

5,326

9,357

4.00% 4.04%

3.02%3.04%

4.12%

2.31%

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Net interest income Net interest margin

VND bn

Source: Company Data(*) Net Interest Margin calculated as Net Interest Income / Earning Assets. Earning Assets calculated as Balances with the SBV + Placements with and loans to other banks+ Loans & Advances to customers +

Investment securrities – held to marturity

VND bn

Strong growth in assets, loans and deposits have resulted in higher margins

13

Healthy yield and cost trend

10.77 10.559.94 10.11

9.679.06

6.977.077.007.297.14

7.91 9.008.87

9.549.51

8.72 8.82

2007 2008 2009 2010 30-Jun-10 30-Jun-11

% %

Yield on Advances Yield On Investments Yield on Funds

Yield on Funds Cost of Funds

4.89

6.436.67

6.16 6.28

5.655.11

6.496.75

6.17 6.27

5.76

3.61

2.79 2.71 2.733.063.02

2007 2008 2009 2010 30-Jun-10 30-Jun-11

% %

Cost of Deposits Cost of Funds Spread

Well positioned to maintain margins in a rising interest rate environment

Source: Company Data

14

Diversified non-interest income supports growth

Net Fee and Commission Income

335

438

649

1,436

688 709

1,631

1,067

804

1,294

716

545

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Net fee and commission income Non interest income

VND bn

Fee and Commission Income Breakdown

Source: Company Data

42.0% 40.8% 41.6%

29.2% 27.4%35.1%

14.9% 20.8% 22.5%

17.1% 16.6%

20.2%

1.2%1.6%

5.3%

14.2% 16.8%

10.7%

41.8% 36.9%30.6%

39.4% 39.2%33.9%

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Settlement Services (%) Treasury activities (%)

Agent services (%) Other fees and commissions (%)

Increased fee income contribution has helped sustain earnings growth

15

VietinBank has managed its operating cost well….

Cost to Income Ratio

42%

57% 58%

49%

54%

48%

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Cost to income ratio

Operating Expenses Breakdown

1,619 2,947 1,794 4,1412,293 3,381

312827

289 644

297348

8351,184

1,081 2,412823 1,475

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Other operating expensesDepreciation and amortization charges

Payroll and other staff costs

Source: Company Data

VND bn

Declining costs have resulted in an improved cost to income profile

16

…resulting in strong overall profitability

Profitability Trends Healthy ROAA and ROAE Levels

14.12%

15.70%

22.99%22.01%

28.36%

17.20%

1.35%

1.31%

1.01%1.11%

0.83%

1.53%

2007 2008 2009 2010 30-Jun-10 30-Jun-11

ROAE ROAA

VND bn

Source: Company Data

1,149

1,804

2,873

3,414

1,652

2,919

3,883 3,737

4,264

7,622

2,884

5,621

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Profit after tax Profit before provision for credit losses

Focused operating achitecture has enabled efficient growth in profitability

17

Asset quality overview

• VietinBank has in place healthy credit systems, utilising relevant exposure limits and credit risk appetite

• Such systems are enhanced by a strong credit culture, benefiting from well-defined delegations of authority and reporting lines

• Advances are relatively well diversified across business entities & Industrial sectors, ensuring a high degree of diversification of potential risks

• Comprehensive and detailed loan classification and provisioning requirements and policies are in place, consistent with regulatory norms and guidelines

• Existence of robust procedures have resulted in positive developments in non-performing asset measures in recent times

• Strong Credit risk management system is in place which has ensured improvement in the asset quality in this growing

economic environment

Healthy Credit Systems

Well Defined Sectoral, Single Party and Group Exposure Limits

Comprehensive Loan Classification and Provisioning

Requirements

Strong Credit Risk Management

System

18

Bank has robust credit rating processes in placeRating Procedures1

Information collection and scoring information submission (implemented by customer relationship staffs)

1

Scoring and rating customers (implemented by Risk Management Staffs)2

Reviewing and checking scoring and rating results (implemented by Heads of Risk Management Department)

3

Approving the scoring and rating results (implemented by the competent levels)

4

Completing scoring and rating documents5

Following-up and observing any fluctuation/changes of the scoring and rating results (implemented by Risk Management Department at the Head Office)

6

Recording & Filing documents7

1For corporates, individuals and household customers and financial Institutions

19

Diversified loan portfolio

Loan Portfolio by Industry

Source: Company Data

29%

17%

12%

6%3%2%6%

27%

19%

12%

11%

7%

4%2%

6%

12%

6%

7%

6%

6%

Manufacturing and processing

Households

Wholesale and retail trade, repairof motor vehiclesConstruction

Transport, warehouse andcommunications Mining and quarrying

Community, social and personalservice activitiesElectricity, petroleum and water

Hospitality services

Other*

Other*: Agricultural & forestry, Business and advisory services, Financial intermediation, Health care & social work, Aquaculture, Education & training, Others, Science and technology, Recreational, culture, sporting activities, State management, security and national defense, party union & social guarantee, International organization and bodies

Inner ring total loans 31 Dec 2010: 234,204 VNDbn

Outer ring total loans 30 Jun 2011: 263,267 VNDbn

20%

38%

33%

19%

37%

35%

2%6%

2%1%

6%

1% Construction andtransportation

Industrials

Trade and services

Agriculture, forestryand aqua-culture

Consumers

Others

Inner ring total loans 31 Dec 2010: 234,204 VNDbn

Outer ring total loans 30 Jun 2011: 263,267 VNDbn

20

Asset Quality is Robust as Seen By Low NPL

Group 30 June 2011 2010 2009 2008

Value (VND bn) % Value

(VND bn) % Value (VND bn) % Value

(VND bn)%

Group 1

Current255,125 96.91 230,267 98.32 160,510 98.37 114,596 94.90

Group 2

Special mention3,636 1.38 2,399 1.02 1,660 1.02 3,968 3.29

Group 3

Substandard1,326 0.50 925 0.39 230 0.14 847 0.70

Group 4

Doubtful439 0.17 411 0.18 333 0.20 803 0.67

Group 5

Loss2,739 1.04 203 0.09 437 0.27 537 0.44

Total 263,267 100.00 234,205 100.00 163,170 100.00 120,751 100.00

21

NPL ratio - Industry comparison

Source:SBV, VietinBank

NPL ratio much lower than the industry average

1.41%

2.30%

1.81%

0.61% 0.66%

1.09%

1.71%

2.65%

1.79%

2.13%1.99%

2.16%2.30%

3.10%

2006 2007 2008 2009 2010 30-Jun-10 30-Jun-11

VietinBank Industry average

22

Improving Asset Quality

Moderate Credit Costs Provision Coverage Ratio

Moving in right direction to achieve its objectives

1

2

1

1

2

2 1.811.81

1.181.19

0.96

1.7

2007 2008 2009 2010 30-Jun-10 30-Jun-11

%

Credit Cost (Loan loss provision / Total Advances)

Credit Cost (Loan loss provision / Net Advances)

14.48

38.6949.85

6.278.6710.01

76.98

65.37

53.97

48.0565.78

81.73

2007 2008 2009 2010 30-Jun-10 30-Jun-11

%

Loan loss provisions expense to operating profits

Provision Coverage Ratio

23

Loan to Deposit Ratio

Loans and advances funded by low cost deposit base with average loan to deposit ratio of 110.81%

Healthy Loan to Deposit Ratio

VND bn

Source: Company Data

Amended values to be consistent with slide 24. Please confirm if below is correct.

112,426 121,634

148,530

205,919

118,602

161,619

192,208

155,965

100,482

234,205

263,267

184,911

89.38%97.51%

108.81% 113.64%118.56%

136.97%

2007 2008 2009 2010 30-J un-10 30-J un-11

Customer Deposits Loans and Advances to Customers Loan to Deposit Ratio

24

11%

8%

14%

57%

13%3%

14%7%

65%

8%Due to Government & SBV

Depositis & Borrowings fromcredit institutions

Customer deposits

Sponsor capital, entrustedinvestment that the creditinstitution has risks

Value papers issued

112,426 121,634148,374

205,918

155,965

192,208

5,2608,824

15,012

35,096

20,049

47,841

2007 2008 2009 2010 30-Jun-10 30-Jun-11

Deposits and borrowings from other banks

Customer deposits and other amounts due to customers

Stable Fund Mobilization Growth

VND bn

Deposits of customers & credit institutions (VND bn)

Source: Company reports

By Source

Inner ring: As at 30 June 2010: 318,805 VNDbn

Outer ring: As at 30 June 2011: 336,413 VNDbn

130,458

163,386

241,014

117,686

240,049

176,014

25

Customer Deposits Breakdown (Cont’d)

By Maturity*By Currency

86%

14%

83%

17%

VND

ForeignCurrencies

*Short-term refers to < [xx] years/months

*Medium & long term refers to > [xx] years/months

Total deposits 2010: 205,918 VNDbn

Total deposits 30 June 2011: 192,208 VNDbn

Total deposits 2010: 205,918 VNDbn

Total deposits 30 June 2011: 192,208 VNDbn

82%

18%

84%

16%

Short-term

Long & Mediumterm

Please confirm what is short-term, medium and long term

26

Capital

Source: Company Data

6.50%

12.02%

8.02% 8.00%

9.82%8.46%

11.62%

2006 2007 2008 2009 2010 30-Jun-10 30-Jun-11

Capital Adequacy Ratio Risk Weighted Assets (VND Bn)

The Bank has successfully backed its RWA growth with adequate capital base

83,05992,007

202,319

154,402

206,711

74,007

150,132

2006 2007 2008 2009 2010 30-Jun-10 30-Jun-11