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Overview of VietinBank

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)

VietinBank was established in 1988 after being separated from State Bank of Vietnam.

Being one of the four largest State-owned commercial banks of Vietnam, VietinBanks total

assets account for over 20 percent of the market share of the whole Vietnamese banking

system. VietinBanks capital resources keep on increasing over the years and have been

substantially rising since 1996 with the annual average growth of 20 percent, especially up 35

percent a year against that of last year.

VietinBank has developed an operations network comprising of 01 Transaction Centers, 149

branches, 527 transaction offices, 166 savings offices, 02 Representative offices, 04

Subsidiaries, 03 administrative units and 1042 Automatic Telling Machines (ATMs). Has

established correspondent relationship with 850 banks, financial institutions of 90 countriesand territories all over the world.

Being diversified with 04 independent accounting subsidiaries: VietinBank Leasing Company,

VietinBank Securities Company, Ltd., VietinBank Asset Management Company, VietinBank

Insurance Company and 03 non-profit making units: VietinBank Information Technology Center,

VietinBank Card Center and VietinBank Training Center.

Being the founder of the following Financial Credit Institutions:

- Saigon Bank for Commerce and Industry

- Indovina Bank (the first joint-venture bank in Vietnam)

- Vietnam International Leasing Company VILC (the first financial leasing company in Vietnam)

- Vietinbank Insurance Company Ltd.

Being the official member of :\

- Vietnams Banker Association

- Asian Bankers Association

- Society for Worldwide Interbank Financial Telecommunications (SWIFT)

- Visa International Services Association

Being the first bank in Vietnam to apply modern technology and e-commerce in its banking

operations.

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Decision on VietinBank equitizatiton

On 23/9/2008, the Prime Minister signed the Decision No. 1354/Q-TTg to approve the

Equitization Plan for Vietnam Bank for Industry and Trade. According to this Plan, the amountof state-owned capital as at 31/12/2007 (figures according to accounting book audited in 2007)

of Vietnam Bank for Trade and Industry is 10.646.529 million dongs. Charter capital of Vietnam

Bank for Trade and Industry is 13.400.000.000.000 (thirteen thousand and four hundred billion

vietnam dongs).

Vietnam Bank for Trade and Industry (Vietinbank) is equitizing in the way that the current state-

owned capital will be kept unchanged, and issues shares to attract more funds on the principle

that the State will keep the governing shares, not lower than 51% of charter capital.

Corporation for State capital trading and investment is the unit managing State capital share at

Vietinbank. The total of initial public offering share is 20% of Charter capital, in which public

auction shares, shares selling for domestic strategic investor, preferential share selling for bank

staff and Trade Union are 10% of Charter capital, initial public offering share selling for overseas

strategic investor is 10% of Charter capital.

Vietinbank will select not more than two overseas strategic investors with the share ratio sold

during the periods not more than 20% of Charter capital. Selling share to domestic strategic

investors is complied with Decree No 109/2007/N-CP on transforming 100% State-owned

enterprise into Joint stock company.

About the using of surplus capital after selling shares, Vietnam Bank for Trade and Industry will

submit to Prime Minister to decide on the plan to use the surplus after the equitization process

finishes.

The Board of Management of Vietnam Bank for Trade and Industry have been building and

developing Joint stock commercial Vietnambank for Trade and Industry into Vietinbank

Financial Group in accordance with international practice and particular conditions of Vietnam.