Joint Stock Commercial Bank for Foreign Trade of Vietnam : 7. Proposal on Approval of financial statement and profit distribution FY 2021

2022 ANNUAL GENERAL MEETING OF SHAREHOLDERS

JSC BANK FOR FOREIGN	SOCIALIST REPUBLIC OF VIETNAM
TRADE OF VIETNAM	Independence - Freedom - Happiness
Address: 198 Tran Quang Khai, Hanoi
Business Registration No. 0100112437	Hanoi, April 28th 2022
(15th revision dated April 14th, 2022)
PROPOSAL

ON THE APPROVAL OF THE FINANCIAL STATEMENT AND

PROFIT DISTRIBUTION PLAN FOR 2021

Pursuant to:



The Law on Credit Institutions No. 47/2010/QH12 dated 16/06/2010 andThe amended and supplemented Law on Credit Institutions aNo.17/2017/QH14 dated 20/11/2017 and guideline documents;

•  Prevalent regulations on financial accounting;

•  Charter on the organization and operation of the Joint Stock Commercial

Bank for Foreign Trade of Vietnam ("Vietcombank") approved by the 14th Annual General Shareholders' Meeting in Resolution No. 14/TN2021/NQ-DHDCD dated 23/04/2021;



Resolution No.14/TN2021/NQ-DHDCD of the 14th Annual GeneralShareholders'Meeting in 2021 dated 23/04/2021;



2021 financial statement of the Joint Stock Commercial Bank for ForeignTrade of Vietnam,

The Board of Directors of the Joint Stock Commercial Bank for Foreign Trade of Vietnam ("Vietcombank") submits to the General Meeting of Shareholders following contents:

(i) The audited consolidated financial statement for the year 2021 of Vietcombank which has been appraised by the Supervisory Board of Vietcombank and presented at the General Shareholders' Meeting 2022 with the main indicators as follows:

Unit: VND billion

Indicators	2021
1	Total Asset	1.414.672.587
2	Total Shareholder's Equity	109.117.393
Charter capital	37.088.774
3	Profit before tax	27.388.580
4	Profit after tax	21.939.045
Profit after tax on the separate financial statement	21.190.934
5	Interests of Non controlling shareholders	20.232
6	Net profit attributable to the shareholder	21.918.813

(according to audited consolidated financial statement for the year 2021 of which the summary is attached)

(ii)

Profit distribution plan for the year 2021 as follows:

Unit: VND million

Items	2021
1	Profit after tax for the year 2021 (single audited)	21.190.934
2	Previous year's profit adjustments	(165)
3	Profit after tax for distribution [(1) + (2)]	21.190.769
4	Allocation to a Supplementary charter capital reserve [(3) x 5%]	(1.059.538)
5	Allocation to Financial reserve [(3) x 10%]	(2.119.077)
6	Allocation to bonus and welfare fund (including the manger bonus fund)	(2.225.713)
7	Other decreases	(76)
8	Remaining profit after tax, allocation funds [(3) + (4) + (5) + (6) + (7)]	15.786.365
9	Divident payment (as approved by the competent authority)	-15.786.365
10	Remaining profit after tax, allocation funds and dividend payment	0

[(8) + (9)]

(iii)

The Board of Directors proposes the General Shareholders'

Meeting:

- To approve the audited consolidated and separate financial statements for the year 2021 of the Joint Stock Commercial Bank for Foreign Trade of Vietnam;

- To authorize/assign BOD to decide to adjust the approved financial statements at the request of competent State management agencies (if any);

- To authorize/assign BOD to perform the profit distribution in accordance with SBV opinion;

- To authorize/assign BOD to construct a plan to increase charter capital by issuing shares to pay stock dividends from the remaining profit of the year 2021 (remaining profit after tax, allocation funds) when the SBV approves the profit distribution plan.

- To assign BOD to decide on the use of VCB annual Managers' bonus fund for the purposes permitted by law.

Respectfully submitted./.

ON BEHALF OF THE BOARD OF DIRECTORS

CHAIRMAN

Pham Quang Dzung