The financial statements of ABI

Income statement, balance sheet and cash flow, by quarter and by year. Unit: VND billion, unless a line states otherwise.

Item	2025	2024
1. Insurance premium (01=01.1+01.2-01.3)	2,747.3	2,392.2
- Gross written premium	2,627.0	2,301.3
- Reinsurance premium assumed	164.3	130.2
- Increase/(Decrese) in gross unearned premium reserve	44.0	39.3
2. Reinsurance premium ceded	422.2	338.9
- Reinsurance premium ceded	444.7	374.9
-Increase/(Decrease) in ceded unearned premium reserve	22.5	35.9
3. Net insurance premium (03=01-02)	2,325.0	2,053.3
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	127.6	100.0
- Commissions on reinsurance ceded	127.5	99.9
5. Total net revenue from insurance business (10=03+04)	2,452.7	2,153.3
6. Claim expenses on retained risks	846.5	780.5
Total claim expenses	859.6	785.7
+ Claim and maturity payment expenses	859.6	785.7
- Deductions	13.0	5.2
- Subrogation recoveries	13.0	5.2
7. Recoveries from reinsurance ceded	112.4	93.2
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	82.7	193.1
9. Increase(Decrease) in claim reserves related to reinsurance ceded	31.9	158.5
9.1. Increase in claim reserve	50.8	34.7
Total claim insurance expenses	784.9	721.9
11. Provision for catastrophe reserve	23.5	20.6
12. Other insurance operating expenses	865.0	716.4
+ Commission	444.9	376.1
Other insurance operating expenses	420.1	340.3
- Other underwriting expenses	420.1	340.3
+ Others	0.1	0.1
13. Total direct insurance operating expenses	1,673.4	1,458.9
14. Gross insurance operating profit	779.3	694.4
18. Revenue from financial activities	153.4	149.9
19. Expenses on financial activities	0.1	0.1
20. Profit from financial activities	153.3	149.8
21. Administrative expenses	616.2	588.7
22. Operating profit	316.4	255.5
23. Other incomes	2.8	1.3
24. Other expenses	0.3	0.7
25. Other profits	2.5	0.6
26. Total profit	318.8	256.1
29. Total profit before tax (55=44+50+53+54)	318.8	256.1
Taxable profit	318.8	256.1
27. Current corporate income tax expenses	64.5	51.4
29. Profit after tax	254.3	204.7
31. Profit after tax for shareholders of the parent compan	254.3	204.7
32. Earning per share VND per share	1,912.00	2,005.00

Item	2025	2024
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	4,615.3	4,180.3
I. Cash and cash equivalents	127.8	152.3
1. Cash	107.8	126.3
2. Cash equivalents	20.0	26.0
II. Short-term investments	3,553.8	3,157.2
1. Short-term investments	3,553.8	3,157.2
III. Short-term receivables	272.3	246.3
1. Trade accounts receivable	176.7	155.4
1.1. Insurance contract receivables	39.9	38.7
12. Other receivables of customers	136.7	116.7
2. Prepayments to suppliers	22.7	32.6
5. Other receivables	75.2	60.8
6. Provision for short-term doubtful debts	-2.3	-2.4
IV. Inventories	5.8	4.1
1. Inventories	5.8	4.1
V. Other short-term assets	196.1	215.1
1. Short-term prepayments	196.1	214.6
1.1. Unallocated commissions expenses	190.1	206.4
1.2. Other short-term prepaid expenses	5.9	8.2
2. Value Added Tax to be reclaimed	—	0.6
VIII. Reinsurance assets	459.6	405.2
1. Reinsurance assets from unearned premium reserves	194.8	172.3
2. Reinsurance assets from claim reserves	264.9	233.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	156.6	160.0
I. Long-term receivables	15.4	14.2
6. Other long-term receivables	15.4	14.2
6.2. Other long-term receivables	7.4	6.2
II. Fixed assets	125.0	131.4
1. Tangible fixed assets	62.2	69.4
- Cost	174.3	171.5
- Accumulated depreciation	-112.1	-102.1
3. Intangible fixed assets	62.7	62.1
- Cost	71.2	69.3
- Accumulated depreciation	-8.5	-7.3
VI. Other long-term assets	16.3	14.4
1. Long-term prepayments	16.3	14.4
TOTAL ASSETS (270=100+200)	4,772.0	4,340.3
A. LIABILITIES (300=210+330)	3,016.3	2,799.5
I. Short -term liabilities	3,016.3	2,799.5
2. Trade accounts payable	357.5	300.9
2.1. Insurance contract payable	353.2	294.1
2.2. Other payables to suppliers	4.2	6.8
3. Advances from customers	4.3	6.7
4. Taxes and other payables to state authorities	36.9	25.4
5. Payable to employees	56.3	45.9
8. Other payables	29.5	27.6
9. Unearned commission revenues	63.0	56.9
11. Bonus and welfare fund	51.1	76.4
131. Unearned premium reserve	1,358.5	1,314.5
132. Claim reserve	531.5	448.9
133. Catastrophe reserve	222.5	199.1
14. Short-term unearned revenue	305.1	297.3
B. OWNER'S EQUITY (400=410+430)	1,755.6	1,540.8
I. Owner's equity	1,755.6	1,540.8
1. Capital from owners	1,013.5	723.9
- Common stock with voting right VND per share	1,013,476,320,000.00	723,917,500,000.00
2. Share premium	28.3	16.5
7. Investment and development fund	273.7	418.4
9. Compulsory reserves	85.1	72.4
11. Undistributed earnings after tax	355.1	319.7
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	4,772.0	4,340.3

Item	2025	2024
Income tax paid	-55.5	-45.6
Other receipts from operating activities	38.7	25.3
Other payments for operating activities	-184.7	-175.9
Net cash flows from operating activities	219.5	160.3
1. Payment for fixed assets, constructions and other long-term assets	-7.8	-8.1
2. Receipts from disposal of fixed assets and other long-term assets	0.4	0.8
4. Receipts from loan repayments, sale of other entities' debt instruments	1,073.2	1,314.0
5. Payments for investment in other entities	-1,469.7	-1,467.0
7. Dividends, interest and profit received	138.0	169.5
Net cash flows from investing activities	-265.9	9.2
1. Receipts from equity issue and owner's capital contribution	21.9	8.3
6. Dividends paid, profits distributed to owners	-0.0	-142.4
Net cash flows from financing activities	21.9	-134.1
Net cash flows during the period	-24.5	35.5
Cash and cash equivalents at beginning of the period	152.3	116.8
Cash and cash equivalents at end of the period	127.8	152.3

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
1. Insurance premium (01=01.1+01.2-01.3)	763.8	697.4	734.1	689.4	703.5	620.3	652.8	598.4	625.8	515.2
- Gross written premium	763.5	630.0	725.8	613.7	705.4	582.1	674.4	533.5	590.4	503.0
- Reinsurance premium assumed	98.5	58.9	42.0	30.2	55.3	36.8	58.4	28.6	27.2	16.0
- Increase/(Decrese) in gross unearned premium reserve	98.2	-8.4	33.7	-45.5	57.2	-1.4	80.0	-36.3	-8.2	3.8
2. Reinsurance premium ceded	123.4	103.7	115.6	112.9	97.6	96.1	118.9	85.8	70.7	63.5
- Reinsurance premium ceded	158.5	112.0	118.9	95.0	127.8	103.0	122.8	81.4	99.0	71.7
-Increase/(Decrease) in ceded unearned premium reserve	35.1	8.3	3.3	-17.9	30.2	6.9	3.9	-4.4	28.2	8.2
3. Net insurance premium (03=01-02)	640.4	593.7	618.6	576.4	605.9	524.2	533.9	512.6	555.1	451.6
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	32.6	30.7	34.3	32.9	31.8	28.7	28.5	26.3	21.7	23.5
- Commissions on reinsurance ceded	32.6	30.7	34.8	32.8	31.8	28.7	28.4	26.3	21.7	23.5
5. Total net revenue from insurance business (10=03+04)	673.0	624.4	652.8	609.3	637.7	552.9	562.4	538.9	576.8	475.2
6. Claim expenses on retained risks	243.0	184.4	244.2	187.1	247.3	167.9	241.3	175.2	204.8	159.2
Total claim expenses	244.2	184.6	245.2	187.3	259.1	168.0	244.5	175.7	205.8	159.8
+ Claim and maturity payment expenses	244.2	184.6	245.2	187.3	259.1	168.0	244.5	175.7	205.8	159.8
- Deductions	1.1	0.2	1.0	0.2	11.7	0.1	3.2	0.5	1.0	0.6
- Subrogation recoveries	1.1	0.2	1.0	0.2	11.7	0.1	3.2	0.5	1.0	0.6
7. Recoveries from reinsurance ceded	38.7	28.4	37.2	27.8	29.1	18.4	41.2	18.6	12.8	20.5
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	-41.7	28.8	24.1	106.3	-52.6	4.9	-1.5	203.5	-7.4	-1.4
9. Increase(Decrease) in claim reserves related to reinsurance ceded	-5.2	-7.7	28.6	39.8	-27.3	-9.1	93.0	66.2	8.5	-9.2
9.1. Increase in claim reserve	-36.6	36.5	-4.4	66.5	-25.3	14.0	-94.5	137.4	-15.9	7.7
Total claim insurance expenses	167.7	192.5	202.5	225.8	193.0	163.5	105.6	294.0	176.0	146.4
11. Provision for catastrophe reserve	7.0	5.8	6.5	5.5	6.3	5.2	6.1	4.8	5.2	4.5
12. Other insurance operating expenses	273.6	194.4	270.8	188.3	227.2	178.8	240.4	167.1	168.7	140.1
+ Commission	111.0	100.0	112.7	104.4	123.0	104.9	105.6	90.1	91.7	88.7
Other insurance operating expenses	162.6	94.4	158.1	83.9	104.2	73.9	134.9	77.0	77.0	51.4
- Other underwriting expenses	162.6	94.4	158.1	83.9	104.2	73.9	134.9	77.0	77.0	51.4
+ Others	162.6	94.4	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1
13. Total direct insurance operating expenses	448.4	392.7	479.8	419.6	426.5	347.5	352.1	465.9	349.9	291.0
14. Gross insurance operating profit	224.6	231.7	173.0	189.7	211.2	205.4	210.3	73.1	226.9	184.2
18. Revenue from financial activities	48.8	43.8	42.6	39.4	36.6	34.8	35.1	35.5	38.2	41.2
19. Expenses on financial activities	0.0	0.1	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1
20. Profit from financial activities	48.7	43.7	42.5	39.4	36.6	34.7	35.0	35.5	38.2	41.2
21. Administrative expenses	164.4	157.0	149.4	161.4	166.4	139.0	152.0	129.4	168.5	138.8
22. Operating profit	108.9	118.5	66.2	67.6	81.4	101.1	93.3	-20.9	96.6	86.5
23. Other incomes	0.1	0.3	2.3	0.2	0.3	0.0	0.2	0.8	0.1	0.2
24. Other expenses	—	—	0.2	0.1	0.0	—	0.2	0.0	0.4	0.1
25. Other profits	0.1	0.3	2.1	0.1	0.3	0.0	0.1	0.8	-0.3	0.0
Share of profitin associates and joint ventures	—	—	-0.5	0.0	0.0	0.0	0.0	—	0.0	0.0
26. Total profit	109.0	118.7	68.3	67.7	81.7	101.1	93.4	-20.1	96.3	86.5
29. Total profit before tax (55=44+50+53+54)	109.0	118.7	68.3	67.7	81.7	101.1	93.4	-20.1	96.3	86.5
Taxable profit	109.0	118.7	68.3	67.7	81.7	101.1	93.4	-20.1	96.3	86.5
27. Current corporate income tax expenses	22.0	23.9	12.7	13.7	16.4	20.2	18.7	-4.0	19.4	17.4
29. Profit after tax	87.0	94.9	55.6	54.0	65.3	80.9	74.7	-16.1	76.9	69.2
31. Profit after tax for shareholders of the parent compan	87.0	94.9	55.6	54.0	65.3	80.9	74.7	-16.1	76.9	69.2

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	4,951.0	4,734.2	4,615.3	4,483.7	4,414.6	4,267.1	4,180.3	4,038.4	3,983.3	3,856.6
I. Cash and cash equivalents	94.2	134.1	127.8	107.0	165.3	121.1	146.3	121.9	151.0	134.7
1. Cash	94.2	84.1	107.8	97.0	110.3	121.1	124.6	121.9	151.0	134.7
2. Cash equivalents	—	50.0	20.0	10.0	55.0	—	21.7	—	—	—
II. Short-term investments	3,774.3	3,543.2	3,553.8	3,445.8	3,314.3	3,248.8	3,163.2	3,112.2	3,093.2	3,008.2
1. Short-term investments	3,774.3	3,543.2	3,553.8	—	—	—	—	—	—	—
3. Held to maturity investments	—	—	—	3,445.8	3,314.3	3,248.8	3,163.2	3,112.2	3,093.2	3,008.2
III. Short-term receivables	383.7	395.1	272.3	291.5	302.8	281.6	246.3	297.6	289.9	300.3
1. Trade accounts receivable	310.7	236.7	176.7	172.7	183.1	159.6	155.4	208.5	196.4	190.7
1.1. Insurance contract receivables	106.0	63.6	39.9	52.8	58.4	45.7	38.7	208.5	51.3	50.9
12. Other receivables of customers	204.8	173.1	136.7	119.9	124.7	113.9	116.7	—	145.2	139.8
2. Prepayments to suppliers	43.5	27.2	22.7	29.0	40.6	34.3	32.6	1.7	1.2	2.6
5. Other receivables	31.9	133.6	75.2	92.1	81.3	90.2	60.8	90.8	95.4	109.8
6. Provision for short-term doubtful debts	-2.4	-2.3	-2.3	-2.3	-2.3	-2.4	-2.4	-3.4	-3.2	-2.9
IV. Inventories	9.4	8.4	5.8	7.6	11.8	7.0	4.1	5.8	5.3	4.2
1. Inventories	9.4	8.4	5.8	7.6	11.8	7.0	4.1	5.8	5.3	4.2
V. Other short-term assets	199.2	193.1	196.1	204.1	214.6	205.6	215.1	192.6	197.2	199.3
1. Short-term prepayments	199.2	193.1	196.1	203.8	214.6	205.2	214.6	190.7	195.3	199.3
1.1. Unallocated commissions expenses	192.5	184.9	190.1	198.4	207.0	196.9	206.4	185.3	189.2	189.9
1.2. Other short-term prepaid expenses	6.7	8.3	5.9	5.4	7.6	8.2	8.2	5.4	6.1	9.3
2. Value Added Tax to be reclaimed	—	—	—	0.3	—	0.4	0.6	1.8	2.0	—
VIII. Reinsurance assets	490.2	460.2	459.6	427.8	405.9	403.0	405.2	308.4	246.6	209.9
1. Reinsurance assets from unearned premium reserves	238.2	203.1	194.8	191.5	209.4	179.1	172.3	168.4	172.8	144.5
2. Reinsurance assets from claim reserves	252.0	257.1	264.9	236.3	196.5	223.8	233.0	140.0	73.8	65.3
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	200.3	153.9	156.6	152.1	153.1	154.5	160.0	163.3	166.8	168.0
I. Long-term receivables	17.4	16.0	15.4	15.2	14.3	14.1	14.2	14.0	13.5	10.9
6. Other long-term receivables	17.4	16.0	15.4	15.2	14.3	14.1	14.2	14.0	13.5	10.9
6.2. Other long-term receivables	9.4	8.0	7.4	7.2	6.3	6.1	6.2	6.0	5.5	4.9
II. Fixed assets	166.4	126.7	125.0	126.1	128.5	129.1	131.4	135.4	137.3	140.3
1. Tangible fixed assets	73.0	64.4	62.2	65.0	67.0	67.4	69.4	72.8	74.4	76.9
- Cost	190.6	178.8	174.3	175.7	175.5	172.6	171.5	173.9	174.9	173.6
- Accumulated depreciation	-117.6	-114.4	-112.1	-110.7	-108.5	-105.3	-102.1	-101.0	-100.5	-96.7
3. Intangible fixed assets	93.5	62.3	62.7	61.1	61.4	61.7	62.1	62.6	62.9	63.3
- Cost	102.9	71.2	71.2	69.3	69.3	69.3	69.3	70.2	70.2	70.2
- Accumulated depreciation	-9.4	-9.0	-8.5	-8.2	-7.9	-7.6	-7.3	-7.7	-7.3	-6.9
III. Investment properties	—	—	—	—	—	0.1	—	—	—	—
- Accumulated depreciation	—	—	—	—	—	0.1	—	—	—	—
IV. Long-term investments	—	—	—	—	—	—	—	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	—	—	0.0	0.0	0.0
VI. Other long-term assets	16.5	11.2	16.3	10.8	10.4	11.2	14.4	13.9	15.9	16.9
1. Long-term prepayments	16.5	11.2	16.3	10.8	10.4	11.2	14.4	13.9	15.9	16.9
TOTAL ASSETS (270=100+200)	5,151.2	4,888.1	4,772.0	4,635.9	4,567.7	4,421.5	4,340.3	4,201.8	4,150.1	4,024.7
A. LIABILITIES (300=210+330)	3,280.2	3,037.6	3,014.8	2,934.3	2,919.6	2,784.3	2,799.5	2,680.7	2,533.7	2,423.3
I. Short -term liabilities	3,280.2	3,037.6	3,014.8	2,934.3	2,919.6	2,784.3	2,799.5	2,680.7	2,533.7	2,423.3
2. Trade accounts payable	452.0	393.5	357.5	294.3	325.1	314.3	300.9	293.6	297.5	278.3
2.1. Insurance contract payable	448.3	390.9	353.2	293.4	320.2	311.5	294.1	292.9	289.0	276.3
2.2. Other payables to suppliers	3.7	2.5	4.2	0.9	4.9	2.7	6.8	0.8	8.4	1.9
3. Advances from customers	18.7	6.5	4.3	7.0	11.5	6.3	6.7	8.8	24.1	21.7
4. Taxes and other payables to state authorities	38.0	33.2	35.4	25.9	26.7	28.6	25.4	63.7	75.7	—
5. Payable to employees	57.5	28.6	56.3	71.4	68.8	33.2	45.9	—	—	33.7
8. Other payables	47.2	35.7	29.5	46.0	50.3	29.6	27.6	12.1	6.4	20.4
9. Unearned commission revenues	74.2	62.9	63.0	63.1	68.1	59.5	56.9	55.9	57.5	49.9
11. Bonus and welfare fund	93.7	35.3	51.1	74.3	84.8	46.9	—	88.0	101.7	52.1
12. Payables for government bond trading activities	—	—	—	—	—	—	76.4	—	—	—
131. Unearned premium reserve	1,448.3	1,350.1	1,358.5	1,324.8	1,370.3	1,313.1	1,314.5	1,234.5	1,270.8	1,279.0
132. Claim reserve	518.6	560.3	531.5	507.4	401.1	453.7	448.9	450.4	246.8	254.3
133. Catastrophe reserve	235.3	228.3	222.5	216.0	210.5	204.2	199.1	193.0	188.2	183.0
14. Short-term unearned revenue	296.9	303.3	305.1	304.0	302.4	294.9	297.3	280.8	265.1	251.0
B. OWNER'S EQUITY (400=410+430)	1,871.0	1,850.5	1,757.2	1,701.6	1,648.1	1,637.3	1,540.8	1,521.1	1,616.4	1,601.4
I. Owner's equity	1,871.0	1,850.5	1,757.2	1,701.6	1,648.1	1,637.3	1,540.8	1,521.1	1,616.4	1,601.4
1. Capital from owners	1,013.5	1,013.5	1,013.5	1,013.5	723.9	723.9	723.9	723.9	723.9	723.9
- Common stock with voting right VND per share	1,013,476,320,000.00	1,013,476,320,000.00	1,013,476,320,000.00	1,013,476,320,000.00	723,917,500,000.00	723,917,500,000.00	723,917,500,000.00	723,917,500,000.00	723,917,500,000.00	723,917,500,000.00
2. Share premium	28.3	28.3	28.3	28.3	28.3	24.8	16.5	12.0	12.0	12.0
7. Investment and development fund	273.7	273.7	273.7	273.7	418.4	418.4	—	—	418.4	—
9. Compulsory reserves	85.1	85.1	85.2	72.4	72.4	72.4	72.4	63.9	63.9	63.9
11. Undistributed earnings after tax	470.5	450.0	356.6	313.8	405.1	400.5	319.7	316.7	412.1	397.0
- Accumulated retained earning at the end of the previous period	—	—	—	113.5	258.9	319.7	123.4	194.7	266.0	327.9
- Undistributed earnings in this period	—	—	—	200.2	146.2	80.9	196.2	122.1	146.1	69.2
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	5,151.2	4,888.1	4,772.0	4,635.9	4,567.7	4,421.5	4,340.3	4,201.8	4,150.1	4,024.7

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Income tax paid	-19.2	-24.3	-11.0	-44.5	-30.9	-14.7	0.0	-45.6	-25.9	-8.6
Other receipts from operating activities	6.0	2.3	12.0	26.7	22.2	5.1	14.6	10.8	8.2	5.1
Other payments for operating activities	-58.1	-54.1	-47.4	-137.3	-108.7	-63.0	-50.6	-125.2	-94.2	-53.9
Net cash flows from operating activities	92.4	-23.8	89.0	130.4	92.7	26.6	92.4	67.9	45.6	-2.9
1. Payment for fixed assets, constructions and other long-term assets	-43.4	0.0	-2.4	-5.3	-4.1	-1.2	1.3	-9.5	-4.7	-3.4
2. Receipts from disposal of fixed assets and other long-term assets	0.0	0.0	0.2	0.2	-0.0	—	0.2	0.6	—	0.1
3. Loans, purchases of other entities' debt instruments	—	-190.5	—	—	—	—	—	—	—	—
4. Receipts from loan repayments, sale of other entities' debt instruments	295.5	0.0	229.5	843.7	475.2	141.6	340.2	973.7	612.4	254.0
5. Payments for investment in other entities	-434.0	-190.5	-337.5	-1,132.2	-632.2	-233.1	-382.2	-1,084.7	-704.2	-261.0
7. Dividends, interest and profit received	49.6	0.0	42.0	96.1	59.6	19.3	41.3	128.2	85.4	31.3
Net cash flows from investing activities	-132.3	0.0	-68.2	-197.6	-101.5	-73.4	0.8	8.4	-11.2	21.0
1. Receipts from equity issue and owner's capital contribution	—	—	0.0	21.9	21.9	15.6	8.3	—	—	—
6. Dividends paid, profits distributed to owners	—	—	0.0	-0.0	-0.0	-0.0	-71.1	-71.3	-0.2	-0.2
Net cash flows from financing activities	—	—	0.0	21.9	21.9	15.6	-62.8	-71.3	-0.2	-0.2
Net cash flows during the period	-40.0	-23.8	20.8	-45.3	13.0	-31.2	30.4	5.0	34.2	17.9
Cash and cash equivalents at beginning of the period	30.1	127.8	107.0	152.3	152.3	152.3	121.9	116.8	116.8	116.8
Cash and cash equivalents at end of the period	94.2	134.1	127.8	107.0	165.3	121.1	152.3	121.9	151.0	134.7

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