The financial statements of BVH

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)	43,728.3	42,669.7
- Gross written premium	43,716.2	42,591.8
- Reinsurance premium assumed	400.0	217.6
- Increase/(Decrese) in gross unearned premium reserve	387.8	139.7
2. Reinsurance premium ceded	3,604.7	3,543.5
- Reinsurance premium ceded	3,808.5	3,512.3
-Increase/(Decrease) in ceded unearned premium reserve	203.8	-31.2
3. Net insurance premium (03=01-02)	40,123.7	39,126.2
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	824.6	697.0
- Commissions on reinsurance ceded	824.6	697.0
5. Total net revenue from insurance business (10=03+04)	40,948.3	39,823.2
6. Claim expenses on retained risks	21,699.5	19,778.4
Total claim expenses	21,700.5	19,780.6
+ Claim and maturity payment expenses	21,643.5	19,714.4
+ Claim expenses for reinsurance assumed	57.0	66.3
- Deductions	1.0	2.2
- Subrogation recoveries	0.8	1.0
+ Salvages	0.2	1.2
7. Recoveries from reinsurance ceded	1,376.4	1,186.0
Increase(Decrease) in mathematical reserve	14,622.8	18,168.7
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	111.8	480.9
9. Increase(Decrease) in claim reserves related to reinsurance ceded	-79.6	580.1
9.1. Increase in claim reserve	191.3	-99.2
Total claim insurance expenses	35,137.3	36,661.9
11. Provision for catastrophe reserve	-14.0	51.3
12. Other insurance operating expenses	6,261.9	5,425.8
+ Commission	2,865.5	2,489.1
Other insurance operating expenses	6,261.9	5,425.8
- Other underwriting expenses	6,261.9	5,425.8
+ Others	1,721.5	1,589.9
13. Total direct insurance operating expenses	41,385.2	42,139.1
14. Gross insurance operating profit	-436.9	-2,315.9
14.2. Profit from insurance operating	-436.9	-2,315.9
18. Revenue from financial activities	14,039.8	12,689.3
19. Expenses on financial activities	2,919.3	2,115.7
20. Profit from financial activities	11,120.5	10,573.6
Selling expenses	1,674.9	1,346.8
21. Administrative expenses	7,213.1	5,724.6
22. Operating profit	1,795.6	1,186.3
23. Other incomes	615.1	585.7
24. Other expenses	635.2	549.7
25. Other profits	-20.1	36.0
Share of profitin associates and joint ventures	104.1	94.1
26. Total profit	3,554.4	2,663.2
29. Total profit before tax (55=44+50+53+54)	3,554.4	2,663.2
Taxable profit	3,554.4	2,663.2
27. Current corporate income tax expenses	635.2	464.5
28. Deferred income tax expenses (*)	-2.4	4.5
29. Profit after tax	2,921.6	2,194.2
30. Minority interest	85.0	83.7
31. Profit after tax for shareholders of the parent compan	2,836.6	2,110.5
32. Earning per share VND per share	3,821.00	2,843.00

Item	2025	2024
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	150,363.1	121,226.7
I. Cash and cash equivalents	4,194.7	1,464.1
1. Cash	1,302.4	1,274.1
2. Cash equivalents	2,892.3	190.0
II. Short-term investments	127,382.0	103,898.0
1. Short-term investments	4,083.1	3,660.4
2. Provision for diminution in value of short-term investments	-169.9	-203.0
3. Held to maturity investments	123,468.8	100,440.6
III. Short-term receivables	14,292.4	11,535.4
1. Trade accounts receivable	9,601.9	7,892.2
1.1. Insurance contract receivables	1,243.6	1,265.5
12. Other receivables of customers	8,358.3	6,626.7
2. Prepayments to suppliers	31.0	32.1
4. Short-term loan receivables	4,610.6	3,548.0
5. Other receivables	593.6	310.9
6. Provision for short-term doubtful debts	-544.8	-247.9
7. Assets waiting for resolution	0.1	0.2
IV. Inventories	68.0	100.5
1. Inventories	68.0	100.5
V. Other short-term assets	743.6	670.6
1. Short-term prepayments	731.4	660.5
1.1. Unallocated commissions expenses	619.8	581.9
1.2. Other short-term prepaid expenses	111.6	78.7
2. Value Added Tax to be reclaimed	0.0	0.0
3. Taxes and other receivables from state authorities	9.0	4.8
5. Other short-term assets	3.1	5.2
VIII. Reinsurance assets	3,682.4	3,558.1
1. Reinsurance assets from unearned premium reserves	1,890.7	1,686.9
2. Reinsurance assets from claim reserves	1,791.7	1,871.2
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	141,442.6	130,059.6
I. Long-term receivables	75.3	66.9
6. Other long-term receivables	75.3	66.9
6.2. Other long-term receivables	75.3	66.9
II. Fixed assets	1,710.9	1,890.6
1. Tangible fixed assets	793.0	872.4
- Cost	2,758.4	2,726.0
- Accumulated depreciation	-1,965.4	-1,853.6
3. Intangible fixed assets	917.8	1,018.2
- Cost	1,843.5	1,840.6
- Accumulated depreciation	-925.7	-822.4
III. Investment properties	102.5	110.0
- Cost	189.6	191.3
- Accumulated depreciation	-87.1	-81.4
IV. Long-term assets in progress	146.3	131.6
1. Construction in progress	146.3	131.6
IV. Long-term investments	139,153.6	127,645.4
2. Investments in associates, joint-ventures	2,925.9	2,884.9
3. Investments in other entities	1,499.8	1,279.4
4. Provision for diminution in value of long-term investments	-85.4	-62.5
5. Held to maturity investments	134,813.3	123,543.6
VI. Other long-term assets	254.0	215.0
1. Long-term prepayments	204.4	181.0
2. Deferred income tax assets	10.3	7.9
4. Other long-term assets	39.3	26.1
TOTAL ASSETS (270=100+200)	291,805.7	251,286.3
A. LIABILITIES (300=210+330)	266,325.3	227,720.4
I. Short -term liabilities	64,332.7	40,840.5
1. Short-term borrowings	4,072.0	2,910.2
2. Trade accounts payable	2,705.8	2,434.0
2.1. Insurance contract payable	2,633.4	2,370.4
2.2. Other payables to suppliers	72.4	63.6
3. Advances from customers	4.0	21.2
4. Taxes and other payables to state authorities	344.3	211.5
5. Payable to employees	2,356.2	1,702.1
6. Accrued expenses	162.0	141.6
8. Other payables	437.6	395.6
9. Unearned commission revenues	422.1	382.1
11. Bonus and welfare fund	317.3	260.2
12. Payables for government bond trading activities	53,229.1	32,123.6
131. Unearned premium reserve	5,839.6	5,451.8
132. Claim reserve	3,223.6	3,111.8
133. Catastrophe reserve	172.9	186.9
134. Mathematical reserve	171,409.3	157,148.6
135. Dividend reserve	3,974.2	3,521.0
136. Equalization reserve	17,062.9	17,154.0
14. Short-term unearned revenue	282.2	258.5
II. Long-term liabilities	310.2	305.9
3. Other long-term liabilities	306.6	303.1
4. Long-term borrowings	0.8	—
5. Deferred income tax liabilities	2.9	2.7
B. OWNER'S EQUITY (400=410+430)	25,480.3	23,565.9
I. Owner's equity	25,480.3	23,565.9
1. Capital from owners	7,423.2	7,423.2
- Common stock with voting right VND per share	7,423,227,640,000.00	7,423,227,640,000.00
2. Share premium	7,310.5	7,310.5
6. Foreign exchange differences	15.4	15.4
7. Investment and development fund	3,869.2	—
9. Compulsory reserves	812.9	797.9
10. Other reserves	103.6	103.6
11. Undistributed earnings after tax	4,916.3	4,007.1
- Accumulated retained earning at the end of the previous period	2,096.1	1,999.9
- Undistributed earnings in this period	2,820.2	2,007.2
12. Minority's interest	1,029.2	974.3
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	291,805.7	251,286.3

Item	2025	2024
1. Profit before tax	3,554.4	2,663.2
Depreciation and amortization	234.8	361.7
(Reversal of provisions)/provisions	15,395.1	18,799.4
Unrealized foreign exchange (gain)/loss	13.5	13.9
Loss/(profit) from investment activities	-14,120.0	-12,757.3
Interest expense	1,746.9	1,031.8
3. Operating profit before changes in working capital	6,824.7	10,112.7
(Increase)/decrease in receivables	590.7	1,160.6
(Increase)/decrease in inventories	32.5	12.9
(Increase)/decrease in payables (other than interest, corporate income tax)	1,232.5	-1,223.0
(Increase)/decrease in prepaid expenses	-298.1	-33.8
(Increase)/decrease in held-for-trading securities	-422.8	-393.5
Interest paid	-1,536.7	-671.0
Income tax paid	-535.1	-432.4
Other payments for operating activities	-93.9	-113.2
Net cash flows from operating activities	5,793.9	8,419.2
1. Payment for fixed assets, constructions and other long-term assets	-123.8	-135.3
2. Receipts from disposal of fixed assets and other long-term assets	1.7	0.8
3. Loans, purchases of other entities' debt instruments	-184,282.6	-178,867.8
4. Receipts from loan repayments, sale of other entities' debt instruments	150,198.6	143,899.2
5. Payments for investment in other entities	-265.0	-0.2
6. Collections on investment in other entities	102.6	—
7. Dividends, interest and profit received	10,218.5	13,470.3
Net cash flows from investing activities	-24,150.0	-21,633.1
3. Short-term and long-term borrowings	95,733.1	68,026.8
4. Principal repayments	-73,842.9	-57,365.9
6. Dividends paid, profits distributed to owners	-805.2	-767.1
Net cash flows from financing activities	21,085.0	9,893.8
Net cash flows during the period	2,728.9	-3,320.1
Cash and cash equivalents at beginning of the period	1,464.1	4,783.5
Exchange difference due to re-valuation of ending balances	1.7	0.7
Cash and cash equivalents at end of the period	4,194.7	1,464.1

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)	11,532.5	10,577.3	11,244.6	10,448.3	11,364.9	10,675.8	11,189.6	10,473.6	10,708.1	10,322.7
- Gross written premium	11,465.0	10,937.4	11,291.1	10,447.1	11,226.5	10,751.5	11,170.7	10,608.4	10,430.9	10,405.8
- Reinsurance premium assumed	55.6	265.3	75.3	241.2	36.0	47.4	66.1	51.1	60.4	41.3
- Increase/(Decrese) in gross unearned premium reserve	-11.9	625.4	121.9	240.0	-102.4	123.2	47.2	186.0	-216.8	124.4
2. Reinsurance premium ceded	1,085.4	983.0	912.4	898.9	898.5	890.5	861.6	900.8	885.8	874.0
- Reinsurance premium ceded	1,159.5	1,154.1	954.9	993.5	875.8	948.8	834.9	896.2	807.1	925.0
-Increase/(Decrease) in ceded unearned premium reserve	74.1	171.1	42.5	94.6	-22.6	58.3	-26.7	-4.6	-78.6	51.0
3. Net insurance premium (03=01-02)	10,447.1	9,594.3	10,332.2	9,549.4	10,466.5	9,785.2	10,328.0	9,572.8	9,822.3	9,448.7
4. Commission on reinsurance ceded and other insurance income (04=04.1+04.2)	256.8	225.1	217.4	200.2	194.3	188.8	178.4	173.7	168.4	170.0
- Commissions on reinsurance ceded	256.8	225.1	217.4	200.2	194.3	188.8	178.4	173.7	168.4	170.0
5. Total net revenue from insurance business (10=03+04)	10,703.9	9,819.4	10,549.6	9,749.6	10,660.8	9,974.0	10,506.4	9,746.4	9,990.7	9,618.6
6. Claim expenses on retained risks	6,363.1	5,388.4	6,375.1	5,560.9	5,588.4	4,455.1	5,353.5	4,938.0	4,986.5	4,503.0
Total claim expenses	6,366.5	5,388.8	6,375.9	5,560.9	5,588.4	4,455.1	5,354.7	4,938.3	4,987.2	4,503.0
+ Claim and maturity payment expenses	6,351.2	5,373.4	6,355.2	5,544.5	5,578.3	4,445.4	5,325.8	4,929.5	4,965.6	4,499.2
+ Claim expenses for reinsurance assumed	15.3	15.5	20.7	16.5	10.1	9.7	29.0	8.7	21.7	3.9
- Deductions	3.5	0.4	0.8	0.0	0.0	0.0	1.2	0.3	0.7	0.0
- Subrogation recoveries	2.8	0.1	0.7	—	0.0	—	—	0.2	0.7	—
+ Salvages	0.7	0.4	0.1	0.0	0.0	0.0	1.2	0.0	0.0	0.0
7. Recoveries from reinsurance ceded	321.9	317.8	349.3	411.6	351.3	303.2	450.2	290.9	222.1	218.0
Increase(Decrease) in mathematical reserve	2,301.9	3,277.5	3,184.4	3,112.0	3,596.7	4,163.7	4,537.2	4,146.1	4,656.9	4,818.5
8. Increase(Decrease) in claim reserves for direct insurance and reinsurance assumed	-50.6	-155.2	488.2	-86.1	36.8	-265.6	-284.6	846.9	15.8	-90.0
9. Increase(Decrease) in claim reserves related to reinsurance ceded	-125.5	-126.0	369.9	-121.7	-20.9	-245.8	-334.3	860.6	54.5	5.3
9.1. Increase in claim reserve	74.8	-29.2	118.2	35.6	57.7	-19.8	49.6	-13.7	-38.7	-95.3
Total claim insurance expenses	8,417.9	8,318.9	9,328.5	8,296.8	8,891.5	8,295.8	9,490.2	8,779.5	9,382.6	9,008.3
11. Provision for catastrophe reserve	17.3	17.7	-74.1	11.8	14.8	14.2	14.5	11.6	13.1	13.6
12. Other insurance operating expenses	2,004.6	1,175.0	1,322.1	1,552.2	1,704.5	1,086.9	1,355.4	1,467.7	1,249.3	1,403.8
+ Commission	812.1	709.0	673.4	769.4	764.8	659.9	602.4	609.9	616.5	662.2
Other insurance operating expenses	2,004.6	1,175.0	1,322.1	1,552.2	1,704.5	1,086.9	1,355.4	1,467.7	1,249.3	1,403.8
- Other underwriting expenses	2,004.6	1,175.0	1,322.1	1,552.2	1,704.5	1,086.9	1,355.4	1,467.7	1,249.3	1,403.8
+ Others	473.5	466.0	405.2	426.7	397.2	427.0	343.8	490.5	380.9	423.4
13. Total direct insurance operating expenses	10,439.9	9,511.6	10,576.5	9,860.8	10,610.7	9,396.8	10,860.1	10,258.8	10,645.1	10,425.7
14. Gross insurance operating profit	264.0	307.9	-26.9	-111.2	50.1	577.2	-353.7	-512.4	-654.3	-807.0
14.2. Profit from insurance operating	264.0	-1,607.5	-26.9	-111.2	50.1	577.2	-353.7	-512.4	-654.3	-807.0
18. Revenue from financial activities	4,439.8	3,990.5	3,791.4	3,585.1	3,431.8	3,231.8	3,204.7	3,105.2	3,116.4	3,258.5
19. Expenses on financial activities	1,202.2	1,032.1	872.1	669.3	728.5	669.2	616.8	526.4	562.5	397.2
20. Profit from financial activities	3,237.6	2,958.4	2,919.3	2,915.8	2,703.3	2,562.6	2,587.9	2,578.8	2,553.9	2,861.2
Selling expenses	719.1	—	243.6	356.1	542.5	510.8	409.2	367.3	251.9	318.3
21. Administrative expenses	2,232.0	2,294.6	1,842.2	1,858.9	1,948.5	2,328.0	1,620.2	1,428.8	1,382.1	1,346.1
22. Operating profit	550.6	971.6	806.6	589.6	262.4	811.8	204.8	270.3	265.5	389.9
23. Other incomes	155.9	162.1	169.5	191.4	146.9	113.8	119.9	128.8	175.3	169.9
24. Other expenses	163.4	156.9	190.1	203.3	134.8	100.9	115.4	103.4	172.1	156.8
25. Other profits	-7.5	5.2	-20.6	-12.0	12.0	13.0	4.5	25.4	3.2	13.0
Share of profitin associates and joint ventures	21.2	29.2	32.2	29.3	25.8	22.4	38.4	25.1	12.3	20.7
26. Total profit	1,283.4	1,006.0	1,061.8	963.0	842.7	847.2	656.9	688.2	533.0	741.9
29. Total profit before tax (55=44+50+53+54)	1,283.4	1,006.0	1,061.8	963.0	842.7	847.2	656.9	688.2	533.0	741.9
Taxable profit	1,283.4	1,006.0	1,061.8	963.0	842.7	847.2	656.9	688.2	533.0	741.9
27. Current corporate income tax expenses	236.6	191.8	189.3	164.5	138.8	161.1	113.4	129.8	91.8	123.7
28. Deferred income tax expenses (*)	-0.6	-1.4	-1.6	0.7	-0.9	-0.6	4.7	-2.3	0.7	1.2
29. Profit after tax	1,047.4	815.6	874.1	797.8	704.8	686.8	538.9	560.7	440.4	616.9
30. Minority interest	14.9	16.4	15.6	27.0	27.5	14.9	2.8	24.1	13.8	31.1
31. Profit after tax for shareholders of the parent compan	1,032.4	799.2	858.5	770.8	677.2	671.9	536.0	536.6	426.6	585.8
32. Earning per share VND per share	1,391.00	1,077.00	1,157.00	1,038.00	912.00	905.00	722.00	723.00	575.00	789.00

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)	140,416.9	153,490.3	150,465.6	138,892.8	136,447.0	130,992.1	121,165.0	111,208.1	116,496.1	122,492.4
I. Cash and cash equivalents	3,853.2	2,608.8	4,194.6	5,301.7	1,997.1	937.1	1,460.6	2,492.0	6,317.0	7,527.5
1. Cash	856.4	1,289.5	1,302.4	1,135.9	1,462.1	790.1	1,270.6	1,279.0	1,381.8	2,236.5
2. Cash equivalents	2,996.7	1,319.2	2,892.3	4,165.7	535.0	147.0	190.0	1,213.0	4,935.2	5,291.0
II. Short-term investments	124,243.0	138,675.1	127,382.0	115,599.1	116,615.0	114,195.3	103,898.7	93,251.2	94,195.9	99,078.0
1. Short-term investments	4,254.7	4,241.9	4,083.1	3,645.8	3,639.7	3,652.1	3,660.4	3,684.2	3,580.3	3,293.4
2. Provision for diminution in value of short-term investments	-1,448.9	-1,394.8	-169.9	-147.3	-181.6	-222.7	-203.0	-170.6	-158.0	-130.7
3. Held to maturity investments	121,437.3	135,827.9	123,468.8	112,100.5	113,156.9	110,766.0	100,441.4	89,737.7	90,773.5	95,915.3
III. Short-term receivables	7,733.4	7,477.0	14,365.5	13,954.0	13,817.8	11,764.4	11,505.2	10,893.4	12,288.7	12,103.1
1. Trade accounts receivable	2,984.7	2,408.5	9,650.6	8,584.2	10,079.5	8,010.6	7,873.1	7,398.4	8,047.0	8,001.5
1.1. Insurance contract receivables	1,447.6	1,437.0	1,294.9	1,273.0	1,161.0	1,323.3	1,246.4	1,197.2	1,298.3	1,279.1
12. Other receivables of customers	1,537.1	971.5	8,355.7	7,311.2	8,918.5	6,687.3	6,626.7	6,201.2	6,748.6	6,722.3
2. Prepayments to suppliers	25.0	31.0	31.0	35.4	23.6	34.1	32.0	55.5	55.0	64.0
4. Short-term loan receivables	—	—	4,610.6	5,076.8	3,590.3	3,573.0	3,548.0	3,292.2	4,036.5	3,901.0
5. Other receivables	5,244.2	5,553.5	360.6	557.4	403.0	400.2	314.2	409.9	418.0	408.2
6. Provision for short-term doubtful debts	-520.7	-516.1	-287.4	-299.9	-278.7	-253.7	-262.1	-262.7	-267.9	-271.7
7. Assets waiting for resolution	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.2	0.2	0.2
IV. Inventories	117.5	84.1	68.1	85.7	82.5	91.1	100.4	91.8	93.8	116.0
1. Inventories	117.5	84.1	68.1	85.7	82.5	91.1	100.4	91.8	93.8	116.0
V. Other short-term assets	793.6	917.7	742.9	652.4	607.4	633.4	671.1	589.7	566.8	609.6
1. Short-term prepayments	774.2	897.6	730.9	636.8	589.8	618.3	661.3	573.4	545.3	590.4
1.1. Unallocated commissions expenses	688.7	795.4	619.1	554.2	520.8	551.7	582.6	518.5	480.4	523.1
1.2. Other short-term prepaid expenses	85.5	102.2	111.7	82.6	69.0	66.6	78.7	54.9	64.9	67.3
2. Value Added Tax to be reclaimed	0.6	7.0	0.0	0.2	0.8	0.5	0.3	0.3	0.1	0.2
3. Taxes and other receivables from state authorities	4.9	9.8	9.0	4.9	4.8	4.9	5.0	5.0	5.0	4.4
5. Other short-term assets	13.9	3.2	3.0	10.4	12.1	9.8	4.5	11.0	16.4	14.7
VIII. Reinsurance assets	3,676.2	3,727.6	3,712.4	3,300.0	3,327.1	3,370.6	3,529.0	3,890.0	3,033.9	3,058.1
1. Reinsurance assets from unearned premium reserves	2,136.0	2,061.9	1,859.7	1,817.2	1,722.6	1,745.2	1,651.3	1,678.1	1,682.7	1,761.3
2. Reinsurance assets from claim reserves	1,540.2	1,665.7	1,852.7	1,482.8	1,604.5	1,625.5	1,877.6	2,211.9	1,351.3	1,296.8
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	175,266.3	153,997.4	141,445.6	133,908.6	127,676.9	124,800.2	130,052.8	127,011.0	118,347.7	111,779.2
I. Long-term receivables	77.4	82.0	75.3	73.9	72.3	71.2	66.9	83.8	84.5	83.8
6. Other long-term receivables	77.4	82.0	75.3	73.9	72.3	71.2	66.9	83.8	84.5	83.8
6.2. Other long-term receivables	77.4	82.0	75.3	73.9	72.3	71.2	66.9	83.8	84.5	83.8
II. Fixed assets	1,624.2	1,671.0	1,707.8	1,756.2	1,802.9	1,848.9	1,889.7	1,912.0	1,935.6	2,038.6
1. Tangible fixed assets	756.0	777.8	790.0	813.5	835.1	856.4	871.6	868.5	868.4	960.3
- Cost	2,774.9	2,772.1	2,755.1	2,754.9	2,749.2	2,740.6	2,724.0	2,694.2	2,664.8	2,805.5
- Accumulated depreciation	-2,018.9	-1,994.2	-1,965.2	-1,941.5	-1,914.1	-1,884.2	-1,852.4	-1,825.8	-1,796.3	-1,845.2
3. Intangible fixed assets	868.2	893.2	917.8	942.8	967.8	992.5	1,018.1	1,043.5	1,067.2	1,078.3
- Cost	1,845.7	1,844.8	1,843.5	1,842.7	1,842.1	1,841.0	1,840.4	1,839.6	1,837.1	1,822.4
- Accumulated depreciation	-977.5	-951.6	-925.7	-900.0	-874.3	-848.5	-822.3	-796.1	-769.9	-744.1
III. Investment properties	92.6	94.0	102.5	103.9	107.0	108.5	110.0	111.4	112.9	45.4
- Cost	182.5	182.5	189.6	189.6	191.3	191.3	191.3	191.3	191.3	45.4
- Accumulated depreciation	-89.9	-88.5	-87.1	-85.7	-84.3	-82.8	-81.4	-79.9	-78.4	—
IV. Long-term assets in progress	172.2	144.2	145.6	145.6	139.0	137.7	131.6	143.6	144.9	148.2
1. Construction in progress	172.2	144.2	145.6	145.6	139.0	137.7	131.6	143.6	144.9	148.2
IV. Long-term investments	173,001.4	151,724.3	139,159.2	131,577.0	125,298.9	122,407.9	127,647.7	124,582.3	115,897.0	109,296.8
2. Investments in associates, joint-ventures	2,916.9	2,902.0	2,931.5	2,899.3	2,870.0	2,844.2	2,887.4	2,849.0	2,823.9	2,817.8
3. Investments in other entities	1,499.8	1,499.8	1,499.8	1,499.4	1,335.8	1,279.4	1,279.2	1,295.7	1,295.7	1,277.5
4. Provision for diminution in value of long-term investments	-89.1	-92.6	-85.4	-34.3	-65.1	-61.7	-62.5	-71.1	-67.6	-72.3
5. Held to maturity investments	168,673.8	147,415.0	134,813.3	127,212.7	121,158.1	118,346.0	123,543.7	120,508.7	111,845.0	105,273.7
VI. Other long-term assets	298.5	282.1	255.2	251.9	256.8	225.9	206.9	177.9	172.9	166.4
1. Long-term prepayments	245.3	231.4	205.6	199.7	205.1	189.4	172.7	142.4	139.9	134.1
2. Deferred income tax assets	11.9	11.6	10.3	9.4	10.1	8.7	8.0	11.3	11.0	11.3
4. Other long-term assets	41.4	39.0	39.2	42.9	41.6	27.9	26.1	24.1	21.9	21.0
TOTAL ASSETS (270=100+200)	315,683.2	307,487.7	291,911.2	272,801.5	264,123.9	255,792.3	251,217.8	238,219.1	234,843.8	234,271.6
A. LIABILITIES (300=210+330)	288,358.8	281,191.7	266,301.2	247,243.6	239,321.5	231,539.6	227,711.2	214,466.3	211,611.4	211,395.7
I. Short -term liabilities	80,339.5	75,433.1	64,837.5	49,498.3	44,856.9	40,623.7	40,840.4	31,915.3	34,250.3	38,507.3
1. Short-term borrowings	3,600.0	4,052.9	—	4,320.8	3,493.7	3,235.9	2,910.2	1,883.7	3,613.3	4,092.2
2. Trade accounts payable	3,240.6	2,977.2	2,965.5	2,918.2	2,972.1	2,784.7	2,456.2	2,223.0	2,251.5	2,697.7
2.1. Insurance contract payable	3,072.9	2,899.5	2,895.4	2,814.1	2,903.8	2,737.6	2,389.2	2,178.6	2,196.3	2,672.1
2.2. Other payables to suppliers	167.7	77.7	70.1	104.1	68.3	47.0	67.0	44.4	55.2	25.6
3. Advances from customers	3.8	3.9	4.0	4.5	4.2	23.1	21.2	21.4	21.3	21.0
4. Taxes and other payables to state authorities	374.4	311.5	375.9	249.6	225.9	357.1	199.6	189.9	156.0	268.6
5. Payable to employees	1,942.5	1,413.2	2,503.2	2,054.5	1,427.5	881.7	1,745.0	1,468.3	1,180.8	725.1
6. Accrued expenses	229.3	220.2	159.3	249.1	209.3	166.7	142.3	269.5	209.3	182.2
8. Other payables	689.8	544.1	497.9	909.7	750.6	601.5	443.9	633.2	546.0	437.8
9. Unearned commission revenues	524.1	497.7	419.4	377.3	381.3	382.7	315.1	319.9	335.5	332.5
11. Bonus and welfare fund	233.6	235.7	318.4	327.6	309.3	179.5	224.6	273.5	256.9	203.8
12. Payables for government bond trading activities	69,185.3	64,907.1	53,229.1	37,934.4	34,821.9	31,868.5	32,123.6	24,503.2	25,559.6	29,413.3
131. Unearned premium reserve	6,453.1	6,465.0	5,834.5	5,712.6	5,472.6	5,575.0	5,442.5	—	5,209.3	5,426.1
132. Claim reserve	3,017.7	3,068.4	3,285.0	2,796.8	2,883.0	2,846.2	3,120.5	3,405.2	2,558.3	2,542.5
133. Catastrophe reserve	207.9	190.6	153.6	227.7	215.9	201.1	188.2	173.7	162.1	149.0
134. Mathematical reserve	178,666.4	174,354.8	171,651.2	168,277.7	165,293.1	161,499.8	157,148.6	152,322.7	148,979.7	145,664.2
135. Dividend reserve	4,603.8	4,268.9	3,974.2	3,925.1	3,683.9	3,532.0	3,521.0	3,314.8	19,800.6	2,889.5
136. Equalization reserve	14,755.6	17,100.3	16,255.0	16,493.1	16,607.0	16,955.5	17,144.1	23,034.2	350.1	15,591.8
14. Short-term unearned revenue	316.3	269.7	292.9	152.6	261.3	142.4	258.7	129.6	120.1	133.3
II. Long-term liabilities	314.8	310.8	310.2	312.3	309.1	306.3	305.9	300.4	300.9	297.3
3. Other long-term liabilities	311.6	307.4	306.6	307.9	304.6	303.3	303.2	298.7	297.3	293.0
4. Long-term borrowings	0.8	0.8	0.8	0.9	1.0	—	—	0.3	0.3	1.4
5. Deferred income tax liabilities	2.4	2.7	2.9	3.5	3.5	3.0	2.7	1.4	3.4	2.9
B. OWNER'S EQUITY (400=410+430)	27,324.4	26,296.0	25,610.1	25,557.8	24,802.4	24,252.6	23,506.6	23,752.8	23,232.5	22,875.9
I. Owner's equity	27,324.4	26,296.0	25,610.1	25,557.8	24,802.4	24,252.6	23,506.6	23,752.8	23,232.5	22,875.9
1. Capital from owners	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2	7,423.2
- Common stock with voting right VND per share	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00	7,423,227,640,000.00
2. Share premium	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5	7,310.5
6. Foreign exchange differences	15.4	15.4	15.4	15.4	15.4	15.4	15.4	15.4	15.4	15.4
7. Investment and development fund	4,548.7	3,869.2	3,869.2	3,870.3	3,870.3	2,933.9	—	2,933.9	2,933.9	2,233.5
9. Compulsory reserves	821.6	818.8	813.0	807.9	806.1	802.9	796.9	770.2	749.0	729.3
10. Other reserves	103.6	103.6	103.6	103.6	103.6	103.6	103.6	103.6	103.6	103.6
11. Undistributed earnings after tax	6,046.0	5,709.6	5,046.0	4,988.6	4,262.0	4,674.0	3,961.5	4,212.8	3,735.8	4,111.1
- Accumulated retained earning at the end of the previous period	4,223.0	4,916.3	2,096.1	2,879.4	2,921.1	4,007.1	1,980.1	2,724.2	2,763.8	3,546.1
- Undistributed earnings in this period	1,823.0	793.3	2,949.9	2,109.3	1,340.9	666.9	1,981.4	1,488.6	972.0	565.1
12. Minority's interest	1,055.4	1,045.6	1,029.2	1,038.3	1,011.3	989.2	961.6	983.3	961.1	949.2
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	315,683.2	307,487.7	291,911.2	272,801.5	264,123.9	255,792.3	251,217.8	238,219.1	234,843.8	234,271.6

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
1. Profit before tax	1,283.4	1,006.0	901.1	2,653.4	1,701.8	847.2	699.7	1,963.5	1,276.3	741.9
Depreciation and amortization	57.7	58.3	54.0	180.8	121.1	60.2	114.0	247.6	186.2	54.6
(Reversal of provisions)/provisions	2,312.0	3,773.6	4,556.6	10,838.5	7,593.3	4,060.1	4,332.4	14,467.0	9,265.5	4,777.7
Unrealized foreign exchange (gain)/loss	2.0	0.8	-0.0	13.6	4.8	4.1	6.0	7.9	8.7	-0.4
Loss/(profit) from investment activities	-4,456.7	-4,016.2	-3,813.2	-10,306.8	-6,690.5	-3,248.6	-3,235.2	-9,522.1	-6,398.8	-3,274.1
Interest expense	898.5	755.7	536.2	1,210.6	778.0	378.3	320.5	711.3	469.5	237.1
3. Operating profit before changes in working capital	96.7	1,578.1	2,234.6	4,590.1	3,508.6	2,101.2	2,237.5	7,875.2	4,807.5	2,536.7
(Increase)/decrease in receivables	973.4	-2,013.7	1,570.8	-980.1	-1,407.4	-213.2	1,238.6	-78.1	168.0	2,334.0
(Increase)/decrease in inventories	-33.4	-16.1	17.7	14.8	17.9	9.4	-8.6	21.5	19.5	-2.7
(Increase)/decrease in payables (other than interest, corporate income tax)	1,414.4	-790.5	-10,852.0	12,084.6	8,822.1	-179.5	-487.2	-735.8	-509.7	-495.3
(Increase)/decrease in prepaid expenses	35.4	-364.3	-172.9	-125.1	11.9	-24.4	-121.1	87.3	113.3	-4.7
(Increase)/decrease in held-for-trading securities	-12.8	-158.8	-437.3	14.5	20.7	8.3	23.8	-417.3	-313.5	-26.5
Interest paid	-580.6	-558.2	-342.3	-1,194.4	-731.7	-483.1	-31.6	-639.3	-313.1	-152.9
Income tax paid	-107.9	-292.8	-99.9	-435.2	-300.0	-144.0	-119.8	-312.7	-219.5	-106.2
Other payments for operating activities	-12.3	-81.7	-11.3	-82.6	-58.0	-80.6	-8.6	-104.6	-75.0	-48.3
Net cash flows from operating activities	1,773.0	-2,698.0	-8,092.6	13,886.5	9,884.2	994.1	2,723.0	5,696.2	3,677.5	4,034.0
1. Payment for fixed assets, constructions and other long-term assets	-53.8	-43.8	-37.1	-86.7	-57.6	-26.4	-43.8	-91.5	-57.6	-22.1
2. Receipts from disposal of fixed assets and other long-term assets	0.9	0.1	0.4	1.4	1.1	0.6	0.4	0.3	0.2	0.1
3. Loans, purchases of other entities' debt instruments	-56,769.8	-61,198.8	-55,191.0	-129,091.6	-85,228.2	-36,014.0	-31,467.8	-147,400.0	-92,678.0	-48,390.0
4. Receipts from loan repayments, sale of other entities' debt instruments	48,946.3	46,862.9	36,052.8	114,145.8	75,081.6	31,413.0	16,547.7	127,351.4	79,615.2	34,618.8
5. Payments for investment in other entities	—	-154.8	-156.2	-108.8	—	—	-0.2	—	—	—
6. Collections on investment in other entities	29.6	—	0.0	102.6	—	—	—	—	—	—
7. Dividends, interest and profit received	4,100.9	3,724.2	1,657.0	8,561.5	5,794.0	2,974.4	2,941.8	10,528.5	6,968.7	4,403.9
Net cash flows from investing activities	-3,591.2	-10,810.1	-17,674.1	-6,475.9	-4,409.1	-1,652.3	-12,021.8	-9,611.3	-6,151.5	-9,389.4
3. Short-term and long-term borrowings	31,873.4	44,171.1	41,550.4	54,182.7	30,548.1	23,275.4	12,228.3	55,798.5	31,963.8	24,894.7
4. Principal repayments	-28,811.2	-32,257.9	-16,086.8	-57,756.1	-35,491.6	-23,143.8	-3,180.5	-54,185.4	-28,282.2	-16,795.8
6. Dividends paid, profits distributed to owners	—	—	-803.7	-1.5	-0.0	—	-767.1	-0.0	-0.0	-0.0
Net cash flows from financing activities	3,062.2	11,913.3	24,659.9	-3,574.9	-4,943.4	131.6	8,280.7	1,613.1	3,681.6	8,098.9
Net cash flows during the period	1,244.0	-1,594.8	-1,106.8	3,835.7	531.7	-526.6	-1,018.1	-2,302.0	1,207.6	2,743.5
Cash and cash equivalents at beginning of the period	2,608.8	4,203.9	5,301.7	1,464.1	1,464.1	1,464.1	2,482.0	4,783.5	4,783.5	4,783.5
Exchange difference due to re-valuation of ending balances	0.4	-0.3	-0.2	1.9	1.4	-0.4	0.2	0.5	1.2	0.5
Cash and cash equivalents at end of the period	3,853.2	2,608.8	4,194.7	5,301.7	1,997.1	937.1	1,464.1	2,482.0	5,992.3	7,527.5

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