HDB

Ngân hàng TMCP Phát triển Thành phố Hồ Chí Minh ·HOSE ·2026Q1

▲ STABLE WITH WATCH ITEMS

Operations are improving ROAA 2.08%, -0.02 pp YoY

Price

24,900

Latest close

02 Jun 2026

P/B 1.5x

ROAE (TTM) 23.6%

NIM (TTM) 4.6%

ROAA (TTM) 2.0%

LDR 81.8%

Bank Picture

HDB bank opening narrative plan rendered.

	                            
	                                ROAA
	                            
	                                    2.08%
	                                
−0.0 pp QoQ

	                            
	                                Gross loans
	                            
	                                    601,140 bn VND
	                                
+23.5% YoY

	                            
	                                Credit cost
	                            
	                                    1.24%
	                                
−0.1 pp QoQ

Metric	2025	2024
Net Interest Income	34.746,2	30.857,1
NIM	4,64%	4,85%
Net Fee Income	4.126,0	1.416,6
Provision Expense	9.748,4	5.321,4
Net Profit After Tax	17.073,6	13.247,6

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Net Interest Income	8.483,0	9.755,6	7.763,3	9.819,2	7.408,1	8.202,7	7.773,4	7.719,9	7.160,4
NII Growth YoY	+15%	+19%	−0%	+27%	+3%	—	—	—	—
NIM	4,58%	4,64%	5,12%	5,21%	5,24%	5,26%	—	—	—
Net Fee Income	847,1	874,4	1.187,2	1.331,6	733,3	423,5	412,1	224,6	356,8
Provision Expense	1.258,5	1.991,1	2.294,0	4.141,1	1.324,8	1.831,9	1.093,5	1.126,2	1.269,9
Net Profit After Tax	4.902,1	5.220,2	3.798,8	3.676,1	4.357,7	3.237,2	3.545,6	3.251,9	3.213,2
Net Income Growth YoY	+12%	+61%	+7%	+13%	+36%	—	—	—	—

Drivers of HDB's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by higher net interest income. Supporting and offsetting drivers:

Net interest income +VND 4,717.0bn

Net fee income +VND 2,446.7bn

Investment securities +VND 935.5bn

FX & gold trading +VND 548.6bn

Operating expenses −VND 368.9bn

Provision for credit losses +VND 4,308.3bn

TTM

Net profit attributable to parent increased vs prior quarter, mainly helped by higher net interest income. Supporting and offsetting drivers:

Net interest income +VND 1,074.9bn

FX & gold trading +VND 133.6bn

Net fee income +VND 113.8bn

Provision for credit losses −VND 66.3bn

Investment securities +VND 65.7bn

Trading securities −VND 395.5bn

Financial Highlights

Detailed analysis of each financial dimension

Is credit clean?

very positive positive stable watch under pressure

Credit Quality

Is asset quality deteriorating?

Credit reading still relies mainly on credit cost, now at 1.24% of average earning assets; the missing piece is whether this level is just short-term noise or a new underlying base.

Reserve buffer on gross loans is around 1.30%. LDR stands at 81.8%.

Credit reading currently relies mainly on credit cost and reserve buffer; NPL, group-2, and bad-debt coverage signals will be added next.

Key signals

Credit cost 1.24% −0.1pp

Reserve / Gross loans 1.30% −0.0pp

LDR 81.8% −1.4pp

2026Q1

Is interest margin sustainable?

Interest Margin Quality

Is spread coming under pressure?

Spread deserves closer monitoring because funding cost is already at 4.74%, even if pressure is not yet as severe as in clearer compression cases. This suggests spread is under pressure from both sides, with softer asset yields and rising funding costs.

In the period, NIM reached 4.58%, −0.7pp YoY; asset yield was 9.32%, −0.6pp; while funding cost was 4.74%, +0.1pp. This suggests spread has become less favorable mainly because asset yields softened, while the mild rise in funding cost is not yet enough to call it a strong two-sided compression episode.

Watchpoints

Spread compression in progress

Spread is under pressure from both sides, with softer asset yields and rising funding costs.

Funding cost is elevated

Funding cost is 4.74%, pressuring net interest margin.

Key signals

NIM 4.58% −0.7pp

Asset yield 9.32% −0.6pp

Funding cost 4.74% +0.1pp

2026Q1

Earnings Mix

Is profit coming from core or supporting income sources?

Earnings remain primarily core-led, with NII contributing around 82.5% of total operating income.

Nii accounts for 82.5% of toi, fee income is 9.8% of toi, other income is 1.0% of toi, cir stands at 26.9%, net profit equals 40.5% of toi.

Watchpoints

Fee income is helping diversify the earnings mix

Fee income share is improving clearly enough to make the earnings mix less dependent on net interest income.

Key signals

NII / TOI 82.5% +1.1pp

Fee / TOI 9.8% +0.1pp

Other income / TOI 1.0% —

CIR 26.9% −0.3pp

2026Q1

Is liquidity safe?

Funding & Liquidity

Are funding and capital buffers sufficiently safe?

Funding and liquidity look more balanced, with LDR at 81.8% while customer funding share is improving.

Ldr stands at 81.8%, equity equals 8.5% of assets, customer funding accounts for 70.8% of interest-bearing funding, market funding accounts for 29.2%.

Key signals

LDR 81.8% −1.4pp

Equity / Assets 8.5% +0.0pp

Customer funding 70.8% +2.2pp

Market funding 29.2% −2.2pp

2026Q1

Profitability Quality

What is sustaining current profitability?

Profitability quality looks constructive, with ROAA at 2.08% and ROAE at 24.40%, primarily supported by spread.

Net income on average earning assets is 2.25%, nim stands at 4.58%, credit cost is 1.24%, cir stands at 26.9%, average leverage is around 11.76 times.

Key signals

ROAA 2.08% −0.0pp

ROAE 24.40% −0.9pp

NI / Avg EA 2.25% −0.0pp

Quarterly provision VND 1,258bn −36.8% QoQ

2026Q1

Investment Takeaway

HDB bank investment takeaway — core engine with caveat. [Placeholder for EN translation.]

[Placeholder for EN evidence line 1.]

[Placeholder for EN evidence line 2.]

[Placeholder for EN conclusion.]

Statement Data

Item	2025	2024
Interest Income and Similar Income	67,992.4	57,995.5
Interest Expense and Similar Expenses	33,246.2	27,138.5
Net Interest Income	34,746.2	30,857.1
Fee and Commission Income	5,697.9	3,295.6
Fee and Commission Expenses	1,571.8	1,879.0
Net Fee and Commission Income	4,126.0	1,416.6
Net Gain/(Loss) from Foreign Currencies and Gold Trading	1,272.2	843.8
Net Gain/(Loss) from Trading Securities	639.5	68.9
Net Gain/(Loss) from Investment Securities	855.9	68.3
Other Income	1,026.2	869.9
Other Expenses	289.5	164.0
Net Other Income	736.6	705.9
Income from Capital Contribution and Long-term Investments	319.5	71.7
Operating Expenses	11,601.0	11,980.8
Operating Profit before Provision for Credit Losses	31,094.9	22,051.4
Provision for Credit Losses	9,748.4	5,321.4
Profit Before Tax	21,346.5	16,730.0
Current Corporate Income Tax Expense	4,189.7	3,561.6
Deferred Income Tax Expense	83.2	-79.2
Corporate Income Tax	4,272.9	3,482.3
Net Profit After Tax	17,073.6	13,247.6
Minority Interest	549.2	484.7
Net Profit Attributable to the Equity Holders of the Bank	16,524.4	12,763.0
Earnings per Share	3,461.00	3,671.00

Item	2025	2024
Cash, Gold and Precious Stones	4,126.6	3,105.4
Balances with the State Bank of Vietnam	59,907.1	26,680.3
Placements at and Loans to Other Credit Institutions	184,262.2	101,600.3
Placements at Other Credit Institutions	156,340.8	94,225.9
Loans to Other Credit Institutions	27,921.4	7,374.4
Trading Securities	490.5	21,955.8
Trading Securities (Gross)	490.5	21,955.8
Loans, Advances and Finance Leases to Customers	539,071.3	436,606.2
Loans, Advances and Finance Leases to Customers (Gross)	546,370.8	442,484.8
Provision for Losses on Loans, Advances and Finance Leases to Customers	-7,299.4	-5,878.6
Debt Purchased	23,746.4	—
Debt Purchased (Gross)	23,925.9	—
Provision for Debt Purchased	-179.4	—
Investment Securities	76,811.7	48,751.3
Available-for-sale Securities	72,904.8	31,407.5
Held-to-maturity Securities	4,039.8	17,436.6
Provision for Diminution in Value of Investment Securities	-132.9	-92.8
Capital Contribution and Other Long-term Investments	1,158.2	857.8
Investments in Associates and Joint Ventures	1,040.7	729.7
Other Long-term Investments	125.7	146.5
Provision for Diminution in Value of Long-term Investments	-8.2	-18.5
Fixed Assets	1,860.4	1,765.9
Tangible Fixed Assets	973.2	887.5
Tangible Fixed Assets Cost	2,169.2	1,983.5
Accumulated Depreciation of Tangible Fixed Assets	-1,196.0	-1,096.0
Intangible Fixed Assets	887.3	878.5
Intangible Fixed Assets Cost	1,392.4	1,291.4
Accumulated Depreciation of Intangible Fixed Assets	-505.1	-413.0
Other Assets	39,669.4	56,043.6
Accounts Receivables	22,309.8	48,316.3
Interest and Fee Receivables	6,221.1	5,383.5
Deferred Income Tax Assets	72.7	155.9
Other Assets (Miscellaneous)	11,120.0	2,234.8
Provision for Risks in Other Assets	-54.2	-46.9
Total Assets	931,103.9	697,366.5
Due to Government and Borrowings from the State Bank of Vietnam	11,426.0	15.4
Placements and Borrowings from Other Credit Institutions	169,207.3	99,460.6
Placements from Other Credit Institutions	129,408.8	74,877.0
Borrowings from Other Credit Institutions	39,798.5	24,583.5
Deposits from Customers	560,714.3	437,505.2
Derivatives and Other Financial Liabilities	0.4	18.4
Funds Received from Government and Institutions, Trust Investments and Syndicated Loans	2,722.0	2,788.4
Valuable Papers Issued	87,434.3	81,349.7
Other Liabilities	21,314.2	19,571.4
Interest and Fee Payables	9,306.7	8,013.2
Other Liabilities (Miscellaneous)	12,007.5	11,558.2
Total Liabilities	852,818.4	640,709.2
Capital and Reserves	78,285.5	56,657.3
Capital	51,327.7	35,224.0
Charter Capital	50,052.8	35,101.4
Share Premium	1,274.9	536.0
Reserves	10,051.4	6,313.2
Undistributed Earnings after Tax/Accumulated Loss	14,191.0	12,953.9
Minority Interest	2,715.4	2,166.2
Total Liabilities and Equity	931,103.9	697,366.5

Item	2025	2024
Receipts from Interest and Similar Income	67,209.2	58,776.2
Payments for Interest and Similar Expenses	-32,013.4	-29,501.5
Receipts from Fee and Commission Income	3,865.3	1,688.8
Net Cash Inflow from Trading Activities in Foreign Currencies, Gold and Securities	2,804.9	1,428.8
Receipts from Other Income	138.1	285.8
Receipts from Collection of Written-off Debts	574.9	333.1
Payments for Staff Costs and Operating Expenses	-15,410.4	-10,962.5
Corporate Income Tax Paid	-2,591.5	-4,466.7
Cash Flow from Operating Activities before Changes in Operating Assets and Liabilities	24,576.9	17,581.9
(Increase)/Decrease in Placements with and Loans to Other Credit Institutions	-20,547.0	1,020.4
(Increase)/Decrease in Trading Securities and Investment Securities	-19,916.0	5,473.6
(Increase)/Decrease in Derivatives and Other Financial Assets	—	110.1
(Increase)/Decrease in Loans and Advances to Customers	-127,811.8	-99,080.5
(Decrease)/Increase in Provisions for Damages	-8,154.0	-3,497.3
(Increase)/Decrease in Other Operating Assets	21,194.7	137.7
Increase/(Decrease) in Due to Government and Borrowings from State Bank	11,416.5	-11.2
Increase/(Decrease) in Placements and Borrowings from Other Credit Institutions	70,615.6	-12,626.4
Increase/(Decrease) in Deposits from Customers	123,209.1	66,727.3
Increase/(Decrease) in Valuable Papers Issued	2,031.2	30,411.6
Increase/(Decrease) in Funds Received from Government and Institutions	-66.5	-22.7
Increase/(Decrease) in Derivatives and Other Financial Liabilities	-18.0	18.4
Increase/(Decrease) in Other Operating Liabilities	-1,048.8	2,517.6
Payments from Reserves	-70.5	-18.2
Net Cash Flows from Operating Activities	75,411.4	8,742.4
Purchase of Fixed Assets	-350.3	-541.1
Receipts from Disposal of Fixed Assets	207.9	1.8
Payments for Investment in Other Entities	—	-658.1
Dividends and Profit Received	8.5	—
Net Cash Flows from Investing Activities	-122.0	-1,180.1
Receipts from Equity Issue and Owner Capital Contribution	4,179.6	200.0
Receipts from Issue of Valuable Papers and Other Long-term Borrowings	11,431.6	—
Dividends Paid and Profits Distributed to Owners	—	-2,912.6
Net Cash Flows from Financing Activities	7,823.7	-2,712.6
Net Cash Flows during the Period	83,113.1	4,849.8
Cash and Cash Equivalents at Beginning of the Period	137,261.5	132,411.8
Cash and Cash Equivalents at End of the Period	220,374.6	137,261.5

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Interest Income and Similar Income	19,916.5	18,877.6	16,133.4	17,989.7	14,991.7	15,148.8	14,222.0	14,245.2	14,378.9
Interest Expense and Similar Expenses	11,433.5	9,122.0	8,370.1	8,170.5	7,583.6	6,946.1	6,448.5	6,525.3	7,218.6
Net Interest Income	8,483.0	9,755.6	7,763.3	9,819.2	7,408.1	8,202.7	7,773.4	7,719.9	7,160.4
Fee and Commission Income	970.6	1,155.6	1,491.0	1,874.0	1,177.2	961.1	946.4	876.0	512.4
Fee and Commission Expenses	123.5	281.2	303.8	542.5	443.9	537.6	534.3	651.5	155.7
Net Fee and Commission Income	847.1	874.4	1,187.2	1,331.6	733.3	423.5	412.1	224.6	356.8
Net Gain/(Loss) from Foreign Currencies and Gold Trading	321.9	316.5	343.5	424.0	188.2	234.6	123.9	310.4	174.9
Net Gain/(Loss) from Trading Securities	-6.2	4.4	4.4	241.4	389.3	6.2	141.7	-0.3	-78.7
Net Gain/(Loss) from Investment Securities	49.0	848.3	4.8	19.5	-16.7	141.6	-88.8	-49.9	65.4
Other Income	184.8	446.9	230.7	-211.6	560.2	458.4	163.4	140.4	107.7
Other Expenses	16.2	75.0	72.5	60.7	81.3	64.9	12.8	52.0	34.3
Net Other Income	168.7	371.9	158.2	-272.3	478.8	393.5	150.6	88.4	73.4
Income from Capital Contribution and Long-term Investments	89.4	159.1	55.1	72.6	23.6	46.0	22.0	—	—
Operating Expenses	2,587.0	3,819.9	2,488.0	2,782.0	2,524.5	3,540.5	2,951.1	3,029.8	2,454.6
Operating Profit before Provision for Credit Losses	7,365.8	8,510.4	7,028.5	8,853.9	6,680.0	5,907.7	5,583.9	5,263.2	5,297.4
Provision for Credit Losses	1,258.5	1,991.1	2,294.0	4,141.1	1,324.8	1,831.9	1,093.5	1,126.2	1,269.9
Profit Before Tax	6,107.3	6,519.3	4,734.5	4,712.8	5,355.2	4,075.8	4,490.4	4,137.0	4,027.6
Current Corporate Income Tax Expense	1,232.0	1,311.4	912.8	1,015.3	946.3	833.2	957.9	879.5	808.1
Deferred Income Tax Expense	-26.8	-12.3	22.9	21.4	51.2	5.4	-13.1	5.7	6.3
Corporate Income Tax	1,205.2	1,299.1	935.7	1,036.7	997.6	838.6	944.8	885.2	814.4
Net Profit After Tax	4,902.1	5,220.2	3,798.8	3,676.1	4,357.7	3,237.2	3,545.6	3,251.9	3,213.2
Minority Interest	135.5	112.9	152.2	161.2	122.9	122.6	121.8	137.0	103.4
Net Profit Attributable to the Equity Holders of the Bank	4,766.6	5,107.2	3,646.6	3,514.9	4,234.8	3,114.7	3,423.9	3,114.9	3,109.8
Earnings per Share	952.00	—	—	—	1,212.00	—	—	—	1,075.00

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Cash, Gold and Precious Stones	4,870.6	4,126.6	3,679.7	3,944.7	3,598.0	3,105.4	3,127.6	3,102.6	2,891.2
Balances with the State Bank of Vietnam	27,816.2	59,907.1	24,751.1	9,728.9	18,197.8	26,680.3	29,410.5	22,236.5	22,525.5
Placements at and Loans to Other Credit Institutions	203,790.6	184,262.2	153,845.3	132,104.7	126,666.3	101,600.3	98,656.1	83,923.4	87,659.8
Placements at Other Credit Institutions	188,794.9	156,340.8	140,226.6	124,358.3	117,832.5	94,225.9	93,378.9	76,457.2	79,329.7
Loans to Other Credit Institutions	14,995.7	27,921.4	13,618.6	7,746.4	8,833.7	7,374.4	5,277.2	7,466.2	8,330.1
Trading Securities	2,035.3	490.5	549.7	2,411.3	14,526.3	21,955.8	15,274.5	8,606.5	12,929.3
Trading Securities (Gross)	2,035.3	490.5	549.7	2,411.3	14,526.3	21,955.8	15,274.5	8,606.5	12,929.3
Derivatives and Other Financial Assets	111.1	—	148.2	40.2	—	—	—	381.1	124.6
Loans, Advances and Finance Leases to Customers	593,322.8	539,068.8	482,446.8	502,452.0	440,468.3	436,606.2	393,739.7	381,419.7	358,835.1
Loans, Advances and Finance Leases to Customers (Gross)	601,140.4	546,370.8	488,594.9	508,548.8	446,106.1	442,484.8	398,724.5	386,186.7	363,449.4
Provision for Losses on Loans, Advances and Finance Leases to Customers	-7,817.6	-7,302.0	-6,148.1	-6,096.9	-5,637.8	-5,878.6	-4,984.8	-4,767.0	-4,614.2
Debt Purchased	18,880.6	23,746.4	820.9	—	—	—	—	—	—
Debt Purchased (Gross)	19,023.3	23,925.9	852.5	—	—	—	—	—	—
Provision for Debt Purchased	-142.7	-179.4	-31.6	—	—	—	—	—	—
Investment Securities	88,955.2	76,811.7	63,386.0	71,362.3	49,726.5	48,751.3	34,611.1	60,762.1	55,248.1
Available-for-sale Securities	84,730.0	72,904.8	59,301.8	67,243.9	45,598.0	31,407.5	28,086.8	38,311.6	33,368.7
Held-to-maturity Securities	4,337.2	4,039.8	4,228.6	4,231.3	4,234.0	17,436.6	6,668.3	22,571.0	21,991.5
Provision for Diminution in Value of Investment Securities	-111.9	-132.9	-144.4	-112.8	-105.5	-92.8	-143.9	-120.6	-112.0
Capital Contribution and Other Long-term Investments	1,243.3	1,149.5	994.3	939.2	869.5	857.5	811.2	789.2	143.8
Investments in Associates and Joint Ventures	1,125.8	1,031.7	876.2	821.1	753.3	726.1	679.7	657.6	—
Other Long-term Investments	125.7	125.7	125.7	125.7	134.7	146.5	149.5	149.5	163.9
Provision for Diminution in Value of Long-term Investments	-8.2	-7.9	-7.5	-7.5	-18.5	-15.1	-18.0	-18.0	-20.1
Fixed Assets	1,856.8	1,860.4	1,756.0	1,756.9	1,748.5	1,765.9	1,669.3	1,542.9	1,493.2
Tangible Fixed Assets	992.5	973.2	883.2	889.2	865.9	887.5	811.8	785.4	729.3
Tangible Fixed Assets Cost	2,218.5	—	—	—	—	—	—	—	—
Accumulated Depreciation of Tangible Fixed Assets	-1,226.0	—	—	—	—	—	—	—	—
Intangible Fixed Assets	864.2	887.3	872.9	867.7	882.6	878.5	857.6	757.5	763.9
Intangible Fixed Assets Cost	1,396.0	—	—	—	—	—	—	—	—
Accumulated Depreciation of Intangible Fixed Assets	-531.7	—	—	—	—	—	—	—	—
Other Assets	41,333.7	39,677.9	49,559.5	59,356.2	55,509.7	55,958.2	52,268.9	61,679.5	60,700.9
Accounts Receivables	18,957.5	22,318.4	37,644.1	50,120.4	46,900.4	48,393.6	43,608.1	52,319.2	51,746.5
Interest and Fee Receivables	8,448.3	6,221.1	6,919.1	6,970.4	6,320.3	5,304.3	6,496.5	7,223.9	6,801.2
Deferred Income Tax Assets	99.5	72.7	60.4	83.3	104.7	72.5	77.9	64.8	70.4
Other Assets (Miscellaneous)	13,883.2	11,119.9	4,989.0	2,229.2	2,231.3	2,234.8	2,133.0	2,118.3	2,129.2
Provision for Risks in Other Assets	-54.9	-54.2	-53.1	-47.1	-46.9	-46.9	-46.6	-46.6	-46.5
Total Assets	984,216.2	931,101.3	781,937.4	784,096.3	711,310.8	697,280.8	629,569.1	624,443.5	602,551.6
Due to Government and Borrowings from the State Bank of Vietnam	8.3	11,426.0	10.0	10.0	27.9	15.4	17.9	21.0	20.2
Placements and Borrowings from Other Credit Institutions	152,777.1	169,207.3	130,268.1	99,269.3	73,678.4	99,460.6	92,302.9	118,687.4	107,009.0
Placements from Other Credit Institutions	112,188.3	129,408.8	104,143.9	75,267.9	54,797.8	74,877.0	61,373.2	72,466.7	55,849.3
Borrowings from Other Credit Institutions	40,588.8	39,798.5	26,124.2	24,001.4	18,880.6	24,583.5	30,929.7	46,220.7	51,159.7
Deposits from Customers	621,548.9	560,714.3	487,863.0	478,700.2	465,321.2	437,505.2	397,018.7	386,573.3	378,789.1
Derivatives and Other Financial Liabilities	—	0.4	—	—	279.5	18.4	113.8	—	—
Funds Received from Government and Institutions, Trust Investments and Syndicated Loans	2,644.6	2,722.0	2,734.6	2,787.2	2,729.9	2,788.4	2,698.6	2,856.5	2,796.2
Valuable Papers Issued	103,937.9	87,434.3	74,613.9	83,686.2	88,350.6	81,349.7	67,367.2	44,592.7	46,301.9
Other Liabilities	20,113.5	21,332.5	18,040.8	55,017.0	19,890.6	19,485.5	16,466.0	18,886.9	17,935.0
Interest and Fee Payables	9,961.3	9,306.7	10,050.6	11,475.6	10,170.1	8,013.2	7,459.2	7,661.4	9,640.7
Other Liabilities (Miscellaneous)	10,152.1	12,025.8	7,990.1	43,541.4	9,720.6	11,472.3	9,006.7	11,225.5	8,294.2
Total Liabilities	901,030.2	852,836.7	713,530.3	719,469.9	650,278.2	640,623.3	575,985.1	571,617.8	552,851.3
Capital and Reserves	83,186.0	78,264.6	68,407.1	64,626.4	61,032.5	56,657.5	53,584.0	52,825.7	49,700.2
Capital	51,327.7	51,327.7	35,224.0	35,224.0	35,224.0	35,224.0	29,198.9	29,198.9	29,198.9
Charter Capital	50,052.8	50,052.8	35,101.4	35,101.4	35,101.4	35,101.4	29,076.3	29,076.3	29,076.3
Share Premium	1,274.9	1,274.9	536.0	536.0	536.0	536.0	536.0	536.0	536.0
Reserves	10,041.5	7,075.2	8,781.7	8,833.7	6,321.7	6,313.2	6,257.9	6,259.6	4,707.6
Foreign Exchange Differences	8.2	—	6.8	-27.0	30.9	—	98.8	-28.1	87.4
Undistributed Earnings after Tax/Accumulated Loss	18,957.7	17,146.3	21,792.0	18,145.4	17,166.8	12,954.1	15,734.8	15,223.5	13,671.5
Minority Interest	2,850.9	2,715.4	2,602.5	2,450.3	2,289.1	2,166.2	2,293.6	2,171.8	2,034.9
Total Liabilities and Equity	984,216.2	931,101.3	781,937.4	784,096.3	711,310.8	697,280.8	629,569.1	624,443.5	602,551.6

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Receipts from Interest and Similar Income	17,723.7	19,604.9	16,187.0	17,351.0	14,066.3	16,133.4	14,850.1	13,679.3	14,113.4
Payments for Interest and Similar Expenses	-10,783.2	-9,823.5	-9,826.5	-6,851.7	-5,511.8	-6,438.7	-6,521.0	-8,404.3	-8,137.5
Receipts from Fee and Commission Income	871.3	797.5	1,126.6	1,184.5	756.7	321.1	605.5	428.8	333.5
Net Cash Inflow from Trading Activities in Foreign Currencies, Gold and Securities	389.3	1,120.3	418.3	643.0	623.3	399.9	126.5	263.2	639.2
Receipts from Other Income	98.6	103.2	-14.1	-370.7	419.6	164.2	84.3	29.5	7.9
Receipts from Collection of Written-off Debts	167.4	195.7	181.4	119.3	78.5	82.2	85.2	70.7	95.1
Payments for Staff Costs and Operating Expenses	-3,084.7	-7,019.2	-2,595.8	-2,504.6	-3,290.9	-2,962.8	-2,946.4	-2,638.7	-2,414.7
Corporate Income Tax Paid	-2,518.2	-138.8	-580.6	-944.3	-927.9	-958.0	-879.2	-802.3	-1,827.2
Cash Flow from Operating Activities before Changes in Operating Assets and Liabilities	2,864.2	4,840.2	4,896.3	8,626.5	6,213.9	6,741.1	5,405.0	2,626.1	2,809.7
(Increase)/Decrease in Placements with and Loans to Other Credit Institutions	12,925.7	-14,302.8	-5,872.3	1,087.4	-1,459.4	-2,097.1	2,188.9	863.9	64.7
(Increase)/Decrease in Trading Securities and Investment Securities	-13,694.4	-13,384.6	9,794.7	-9,513.9	-6,812.1	-7,547.0	3,023.8	15,349.8	-5,353.0
(Increase)/Decrease in Derivatives and Other Financial Assets	-111.1	—	-107.9	-40.2	—	0.0	381.1	-256.5	-14.5
(Increase)/Decrease in Loans and Advances to Customers	-49,867.1	-80,849.2	19,101.4	-62,442.8	-3,621.2	-43,760.4	-12,537.7	-22,737.4	-20,045.1
(Decrease)/Increase in Provisions for Damages	-777.1	-695.2	-2,211.2	-3,682.0	-1,565.6	-938.0	-875.8	-973.4	-710.1
(Increase)/Decrease in Other Operating Assets	489.6	13,299.2	9,748.4	-3,246.8	1,394.0	-4,755.7	8,800.8	-543.7	-3,363.6
Increase/(Decrease) in Due to Government and Borrowings from State Bank	-11,416.9	11,416.8	5.2	-17.9	12.4	-2.5	-3.1	0.8	-6.4
Increase/(Decrease) in Placements and Borrowings from Other Credit Institutions	-16,168.5	39,085.1	31,721.7	25,590.9	-25,782.1	7,157.7	-26,384.5	11,678.4	-5,078.0
Increase/(Decrease) in Deposits from Customers	60,834.7	72,851.3	9,162.7	13,379.0	27,816.0	40,486.5	10,445.3	7,784.3	8,011.2
Increase/(Decrease) in Valuable Papers Issued	14,809.0	14,118.6	-14,423.9	-4,664.4	7,000.9	13,982.6	22,774.5	-1,709.2	-4,636.3
Increase/(Decrease) in Funds Received from Government and Institutions	-77.3	-12.6	-52.6	57.3	-58.5	89.8	-157.8	60.3	-14.9
Increase/(Decrease) in Derivatives and Other Financial Liabilities	-0.4	0.4	0.0	-279.5	261.1	-95.4	113.8	—	—
Increase/(Decrease) in Other Operating Liabilities	-69.3	2,181.6	-35,681.4	33,472.4	-1,021.4	2,148.4	-2,587.7	2,260.7	696.3
Payments from Reserves	-9.8	-0.9	-51.9	-4.4	-13.3	-14.9	-1.7	-0.9	-0.6
Net Cash Flows from Operating Activities	-268.9	48,695.9	26,029.2	-1,678.5	2,364.8	11,395.0	10,584.9	14,403.1	-27,640.6
Purchase of Fixed Assets	-68.7	-175.7	-63.2	-70.0	-41.4	-155.0	-178.6	-95.3	-112.2
Receipts from Disposal of Fixed Assets	0.1	0.0	2.2	205.0	0.7	0.7	0.0	0.9	0.1
Payments for Investment in Other Entities	—	—	—	—	—	-0.4	0.0	-657.6	—
Dividends and Profit Received	4.3	3.6	0.0	4.9	—	—	—	—	—
Net Cash Flows from Investing Activities	-64.3	-172.0	-61.1	139.9	-28.8	-151.7	-178.6	-737.7	-112.1
Receipts from Equity Issue and Owner Capital Contribution	—	4,179.6	—	—	—	200.0	—	—	—
Receipts from Issue of Valuable Papers and Other Long-term Borrowings	4,695.4	2,900.0	8,531.6	—	—	—	—	—	—
Dividends Paid and Profits Distributed to Owners	—	—	—	—	—	0.0	-2,912.6	—	—
Net Cash Flows from Financing Activities	1,432.1	3,200.1	4,623.5	—	—	200.0	-2,912.6	—	—
Net Cash Flows during the Period	1,099.0	51,724.1	30,591.7	-1,538.6	2,336.0	11,443.3	7,493.8	13,665.4	-27,752.7
Cash and Cash Equivalents at Beginning of the Period	220,374.6	168,657.4	138,031.9	139,628.4	137,261.5	125,917.0	118,296.3	104,746.4	132,411.8
Exchange Difference due to Re-valuation of Ending Balances	8.2	—	6.8	-27.0	30.9	—	98.8	-28.1	87.4
Cash and Cash Equivalents at End of the Period	221,481.7	220,374.6	168,657.4	138,031.9	139,628.4	137,261.5	125,917.0	118,296.3	104,746.4

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