MBB

Ngân hàng TMCP Quân đội ·HOSE ·2026Q1

● MIXED SIGNALS

Operations remain stable ROAA 2.05%, +0.06 pp YoY

Price

24,650

Latest close

02 Jun 2026

P/B 1.3x

ROAE (TTM) 20.3%

NIM (TTM) 4.1%

ROAA (TTM) 2.0%

LDR 99.2%

Bank Picture

MBB bank opening narrative plan rendered.

	                            
	                                ROAA
	                            
	                                    2.05%
	                                
+0.1 pp QoQ

	                            
	                                Quarterly provision
	                            
	                                    3,455 bn VND
	                                
+59.3% QoQ

	                            
	                                ROAA
	                            
	                                    2.05%
	                                
+0.1 pp QoQ

Metric	2025	2024
Net Interest Income	51.610,1	41.152,2
NIM	3,91%	3,78%
Net Fee Income	6.578,7	4.368,2
Provision Expense	13.743,5	9.576,6
Net Profit After Tax	27.383,0	22.951,3

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Net Interest Income	14.913,1	14.555,3	12.990,5	12.372,1	11.692,2	11.142,2	10.416,6	10.531,1	9.062,3
NII Growth YoY	+28%	+31%	+25%	+17%	+29%	—	—	—	—
NIM	4,10%	3,91%	4,24%	4,16%	4,42%	4,22%	—	—	—
Net Fee Income	1.708,7	2.101,2	1.326,6	1.915,5	1.235,4	1.180,8	888,0	1.354,3	945,2
Provision Expense	3.454,8	2.169,4	3.801,5	4.786,2	2.986,4	3.223,8	1.640,0	2.005,7	2.707,1
Net Profit After Tax	7.702,7	8.903,0	5.800,4	6.004,7	6.674,9	6.381,6	5.843,4	6.102,0	4.624,2
Net Income Growth YoY	+15%	+40%	−1%	−2%	+44%	—	—	—	—

Drivers of MBB'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 11,048.9bn

Net fee income +VND 2,393.5bn

Other income +VND 1,130.2bn

Provision for credit losses +VND 4,355.9bn

Operating expenses +VND 2,635.3bn

Investment securities −VND 2,346.0bn

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 3,220.9bn

Net fee income +VND 473.3bn

Investment securities −VND 840.6bn

FX & gold trading −VND 569.5bn

Provision for credit losses +VND 468.4bn

Operating expenses +VND 397.0bn

Financial Highlights

Detailed analysis of each financial dimension

Is credit clean?

very positive positive stable watch under pressure

Credit Quality

Is asset quality deteriorating?

Direct credit reading is still incomplete, but funding balance has tightened with LDR rising to 99.2%.

Reserve buffer on gross loans is around 1.31%. LDR stands at 99.2%.

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 1.06% +0.0pp

Reserve / Gross loans 1.31% +0.1pp

LDR 99.2% +2.6pp

2026Q1

Is interest margin sustainable?

Interest Margin Quality

Is spread coming under pressure?

Spread deserves closer monitoring because funding cost is already at 3.27%, even if pressure is not yet as severe as in clearer compression cases.

In the period, NIM reached 4.10%, −0.3pp YoY; asset yield was 7.37%, +0.1pp; while funding cost was 3.27%, +0.4pp. This suggests spread has become less favorable than before, though not yet in a clearly deteriorating two-sided way.

Key signals

NIM 4.10% −0.3pp

Asset yield 7.37% +0.1pp

Funding cost 3.27% +0.4pp

2026Q1

Earnings Mix

Is profit coming from core or supporting income sources?

Earnings remain primarily core-led, with NII contributing around 78.6% of total operating income.

Nii accounts for 78.6% of toi, fee income is 10.1% of toi, other income is 7.5% of toi, cir stands at 28.8%, net profit equals 40.7% of toi.

Key signals

NII / TOI 78.6% +2.3pp

Fee / TOI 10.1% +0.4pp

Other income / TOI 7.5% −0.4pp

CIR 28.8% −0.3pp

2026Q1

Is liquidity safe?

Funding & Liquidity

Are funding and capital buffers sufficiently safe?

Funding structure is becoming less comfortable, with customer funding softening while LDR still sits around 99.2%.

Ldr stands at 99.2%, equity equals 9.3% of assets, customer funding accounts for 66.0% of interest-bearing funding, market funding accounts for 34.0%.

Key signals

LDR 99.2% +2.6pp

Equity / Assets 9.3% +0.5pp

Customer funding 66.0% −1.9pp

Market funding 34.0% +1.9pp

2026Q1

Profitability Quality

What is sustaining current profitability?

Profitability is under clearer pressure as provisioning is rising sharply, with ROAA currently at 2.05%.

Net income on average earning assets is 2.13%, nim stands at 4.10%, credit cost is 1.06%, cir stands at 28.8%, average leverage is around 10.12 times.

Watchpoints

Provisioning is rising sharply

Quarterly provision expense increased 59.3% QoQ.

Key signals

ROAA 2.05% +0.1pp

ROAE 20.78% −0.4pp

NI / Avg EA 2.13% +0.1pp

Quarterly provision VND 3,455bn +59.3% QoQ

2026Q1

Investment Takeaway

MBB bank investment takeaway — mixed signals. [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	89,088.1	69,061.9
Interest Expense and Similar Expenses	37,478.0	27,909.7
Net Interest Income	51,610.1	41,152.2
Fee and Commission Income	18,062.2	14,602.6
Fee and Commission Expenses	11,483.6	10,234.4
Net Fee and Commission Income	6,578.7	4,368.2
Net Gain/(Loss) from Foreign Currencies and Gold Trading	1,756.9	2,000.2
Net Gain/(Loss) from Trading Securities	668.4	1,756.0
Net Gain/(Loss) from Investment Securities	1,590.1	2,803.1
Other Income	6,479.6	4,658.4
Other Expenses	1,165.2	1,377.6
Net Other Income	5,314.5	3,280.8
Income from Capital Contribution and Long-term Investments	174.3	52.6
Operating Expenses	19,681.2	17,007.2
Operating Profit before Provision for Credit Losses	48,011.9	38,406.0
Provision for Credit Losses	13,743.5	9,576.6
Profit Before Tax	34,268.4	28,829.3
Current Corporate Income Tax Expense	6,876.9	5,888.3
Deferred Income Tax Expense	8.5	-10.2
Corporate Income Tax	6,885.4	5,878.1
Net Profit After Tax	27,383.0	22,951.3
Minority Interest	604.0	317.5
Net Profit Attributable to the Equity Holders of the Bank	26,778.9	22,633.8
Earnings per Share	3,325.00	3,724.00

Item	2025	2024
Cash, Gold and Precious Stones	4,965.8	3,349.2
Balances with the State Bank of Vietnam	68,494.4	29,825.3
Placements at and Loans to Other Credit Institutions	182,923.7	76,785.6
Placements at Other Credit Institutions	165,819.0	63,887.8
Loans to Other Credit Institutions	17,113.8	12,903.7
Provision for Losses and Risks	-9.1	-5.9
Trading Securities	4,653.2	7,931.7
Trading Securities (Gross)	4,692.6	7,931.8
Provision for Diminution in Value of Trading Securities	-39.4	-0.2
Loans, Advances and Finance Leases to Customers	1,070,868.8	765,048.0
Loans, Advances and Finance Leases to Customers (Gross)	1,084,019.4	776,657.8
Provision for Losses on Loans, Advances and Finance Leases to Customers	-13,150.6	-11,609.9
Debt Purchased	2,443.9	951.5
Debt Purchased (Gross)	2,465.3	1,041.4
Provision for Debt Purchased	-21.4	-89.9
Investment Securities	225,574.9	209,637.4
Available-for-sale Securities	221,512.5	205,508.0
Held-to-maturity Securities	4,295.1	4,612.5
Provision for Diminution in Value of Investment Securities	-232.7	-483.1
Capital Contribution and Other Long-term Investments	468.4	609.5
Other Long-term Investments	559.6	775.7
Provision for Diminution in Value of Long-term Investments	-91.2	-166.2
Fixed Assets	5,616.5	5,430.4
Tangible Fixed Assets	3,805.5	3,750.7
Tangible Fixed Assets Cost	9,423.2	9,014.7
Accumulated Depreciation of Tangible Fixed Assets	-5,617.7	-5,264.0
Intangible Fixed Assets	1,811.0	1,679.7
Intangible Fixed Assets Cost	5,684.9	4,976.7
Accumulated Depreciation of Intangible Fixed Assets	-3,873.9	-3,296.9
Investment Properties	222.8	234.1
Investment Properties Cost	255.1	260.4
Other Assets	49,531.5	28,998.5
Accounts Receivables	28,125.8	14,360.6
Interest and Fee Receivables	13,549.0	8,918.6
Deferred Income Tax Assets	34.3	38.9
Other Assets (Miscellaneous)	7,894.1	5,873.7
Provision for Risks in Other Assets	-71.7	-193.4
Total Assets	1,615,763.9	1,128,801.1
Due to Government and Borrowings from the State Bank of Vietnam	47,474.8	8,156.3
Placements and Borrowings from Other Credit Institutions	248,017.5	110,169.6
Placements from Other Credit Institutions	183,635.3	79,515.6
Borrowings from Other Credit Institutions	64,382.2	30,654.0
Deposits from Customers	921,368.1	714,154.5
Derivatives and Other Financial Liabilities	698.5	191.5
Funds Received from Government and Institutions, Trust Investments and Syndicated Loans	3,912.8	2,793.5
Valuable Papers Issued	187,236.1	128,964.0
Other Liabilities	65,033.5	47,312.1
Interest and Fee Payables	13,245.9	9,899.9
Other Liabilities (Miscellaneous)	51,785.5	37,411.1
Total Liabilities	1,473,741.4	1,011,741.5
Capital and Reserves	142,022.5	117,059.6
Capital	83,965.5	56,295.8
Charter Capital	80,550.0	53,063.2
Share Premium	1,304.3	1,304.3
Other Capital	2,111.2	1,928.3
Reserves	19,390.9	14,996.8
Foreign Exchange Differences	202.2	137.8
Undistributed Earnings after Tax/Accumulated Loss	32,577.4	40,718.2
Minority Interest	5,886.5	4,910.9
Total Liabilities and Equity	1,615,763.9	1,128,801.1

Item	2025	2024
Receipts from Interest and Similar Income	85,076.7	68,529.3
Payments for Interest and Similar Expenses	-34,607.9	-30,835.9
Receipts from Fee and Commission Income	6,566.4	4,368.2
Net Cash Inflow from Trading Activities in Foreign Currencies, Gold and Securities	3,645.3	6,277.8
Receipts from Other Income	941.5	822.3
Receipts from Collection of Written-off Debts	4,141.7	2,451.6
Payments for Staff Costs and Operating Expenses	-19,532.3	-15,627.4
Corporate Income Tax Paid	-6,517.9	-6,022.0
Cash Flow from Operating Activities before Changes in Operating Assets and Liabilities	39,713.5	29,963.9
(Increase)/Decrease in Placements with and Loans to Other Credit Institutions	-4,207.4	-5,674.5
(Increase)/Decrease in Trading Securities and Investment Securities	-12,447.9	-25,402.2
(Increase)/Decrease in Derivatives and Other Financial Assets	—	141.3
(Increase)/Decrease in Loans and Advances to Customers	-308,785.5	-164,801.5
(Decrease)/Increase in Provisions for Damages	-12,320.5	-9,431.2
(Increase)/Decrease in Other Operating Assets	-15,394.9	613.1
Increase/(Decrease) in Due to Government and Borrowings from State Bank	39,318.5	8,147.5
Increase/(Decrease) in Placements and Borrowings from Other Credit Institutions	137,847.9	10,359.1
Increase/(Decrease) in Deposits from Customers	207,213.7	146,621.9
Increase/(Decrease) in Valuable Papers Issued	52,242.1	-6,904.6
Increase/(Decrease) in Funds Received from Government and Institutions	1,119.4	-6.4
Increase/(Decrease) in Derivatives and Other Financial Liabilities	507.0	191.5
Increase/(Decrease) in Other Operating Liabilities	13,172.0	-2,046.1
Payments from Reserves	-620.3	-348.3
Net Cash Flows from Operating Activities	137,357.4	-18,576.4
Purchase of Fixed Assets	-1,780.3	-2,301.7
Receipts from Disposal of Fixed Assets	231.3	6.9
Payments for Investment in Other Entities	-22.0	-37.7
Dividends and Profit Received	59.3	52.6
Net Cash Flows from Investing Activities	904.9	-2,238.2
Receipts from Equity Issue and Owner Capital Contribution	—	2,160.4
Receipts from Issue of Valuable Papers and Other Long-term Borrowings	12,173.6	9,405.6
Dividends Paid and Profits Distributed to Owners	-2,072.6	-2,806.3
Net Cash Flows from Financing Activities	3,957.4	8,759.7
Net Cash Flows during the Period	142,219.7	-12,054.8
Cash and Cash Equivalents at Beginning of the Period	97,040.3	109,095.1
Cash and Cash Equivalents at End of the Period	239,260.0	97,040.3

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Interest Income and Similar Income	28,982.1	26,132.8	22,265.9	21,099.1	19,590.3	18,452.1	17,396.6	16,952.9	16,260.3
Interest Expense and Similar Expenses	14,069.0	11,577.5	9,275.4	8,727.0	7,898.1	7,309.9	6,980.0	6,421.8	7,198.0
Net Interest Income	14,913.1	14,555.3	12,990.5	12,372.1	11,692.2	11,142.2	10,416.6	10,531.1	9,062.3
Fee and Commission Income	4,583.8	5,602.2	4,234.2	4,613.9	3,612.0	4,149.2	3,436.2	3,749.8	3,267.4
Fee and Commission Expenses	2,875.1	3,501.0	2,907.6	2,698.3	2,376.5	2,968.5	2,548.2	2,395.5	2,322.2
Net Fee and Commission Income	1,708.7	2,101.2	1,326.6	1,915.5	1,235.4	1,180.8	888.0	1,354.3	945.2
Net Gain/(Loss) from Foreign Currencies and Gold Trading	-31.7	260.4	424.6	534.1	537.8	484.6	660.6	393.4	461.5
Net Gain/(Loss) from Trading Securities	80.8	80.3	172.4	247.0	168.7	118.2	226.0	447.0	964.8
Net Gain/(Loss) from Investment Securities	-331.3	822.4	-527.5	785.9	509.3	2,412.3	-172.4	346.2	217.0
Other Income	1,090.5	1,573.8	1,197.7	1,363.8	1,179.2	1,203.0	677.9	1,035.4	364.4
Net Other Income	1,090.5	1,573.8	1,197.7	1,363.8	1,179.2	1,203.0	677.9	1,035.4	364.4
Income from Capital Contribution and Long-term Investments	0.0	134.7	12.5	27.2	0.0	22.4	7.0	21.8	1.5
Operating Expenses	4,347.0	6,229.5	4,545.3	4,956.5	3,950.0	5,246.6	3,755.9	4,490.5	3,514.3
Operating Profit before Provision for Credit Losses	13,083.2	13,298.5	11,051.4	12,289.2	11,372.7	11,317.0	8,947.9	9,638.7	8,502.4
Provision for Credit Losses	3,454.8	2,169.4	3,801.5	4,786.2	2,986.4	3,223.8	1,640.0	2,005.7	2,707.1
Profit Before Tax	9,628.4	11,129.1	7,249.9	7,503.0	8,386.3	8,093.1	7,307.9	7,633.0	5,795.3
Current Corporate Income Tax Expense	1,929.1	2,218.6	1,452.7	1,496.6	1,708.9	1,715.3	1,465.2	1,535.5	1,172.1
Deferred Income Tax Expense	-3.5	7.5	-3.3	1.7	2.6	-3.9	-0.8	-4.5	-1.0
Corporate Income Tax	1,925.7	2,226.2	1,449.5	1,498.3	1,711.4	1,711.5	1,464.5	1,531.0	1,171.1
Net Profit After Tax	7,702.7	8,903.0	5,800.4	6,004.7	6,674.9	6,381.6	5,843.4	6,102.0	4,624.2
Minority Interest	187.2	140.4	229.4	127.1	107.1	97.5	53.3	75.2	91.5
Net Profit Attributable to the Equity Holders of the Bank	7,515.5	8,762.6	5,571.0	5,877.6	6,567.7	6,284.2	5,790.2	6,026.7	4,532.7

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Cash, Gold and Precious Stones	5,741.3	4,965.8	4,421.5	5,262.5	4,224.0	3,349.2	3,782.3	4,329.2	3,740.8
Balances with the State Bank of Vietnam	15,156.0	68,494.4	17,507.5	15,251.5	15,522.0	29,825.3	10,684.0	18,087.3	11,915.8
Placements at and Loans to Other Credit Institutions	165,298.0	182,923.7	108,324.8	96,081.3	64,338.6	76,785.6	77,398.1	90,063.8	77,809.4
Placements at Other Credit Institutions	165,298.0	182,923.7	108,324.8	96,081.3	64,338.6	76,785.6	77,398.1	90,063.8	77,809.4
Loans to Other Credit Institutions	—	—	—	—	—	—	—	—	0.0
Provision for Losses and Risks	—	—	—	—	—	—	—	—	0.0
Trading Securities	5,058.8	4,653.2	3,172.2	4,585.7	12,481.2	7,931.7	14,323.9	12,308.3	30,565.3
Trading Securities (Gross)	5,093.4	4,692.6	3,195.9	4,618.3	12,509.2	7,931.8	14,324.2	12,308.4	30,566.1
Provision for Diminution in Value of Trading Securities	-34.7	-39.4	-23.7	-32.6	-28.0	-0.2	-0.2	-0.1	-0.8
Derivatives and Other Financial Assets	—	—	—	—	—	—	111.7	—	0.0
Loans, Advances and Finance Leases to Customers	1,105,852.2	1,070,868.8	917,699.0	867,340.2	786,487.0	765,048.0	691,232.9	662,584.5	603,072.4
Loans, Advances and Finance Leases to Customers (Gross)	1,120,562.5	1,084,019.4	931,498.6	879,888.5	797,536.7	776,657.8	702,019.5	673,799.1	615,316.7
Provision for Losses on Loans, Advances and Finance Leases to Customers	-14,710.3	-13,150.6	-13,799.6	-12,548.3	-11,049.7	-11,609.9	-10,786.7	-11,214.5	-12,244.3
Debt Purchased	2,264.1	2,443.9	2,476.1	2,589.0	466.4	951.5	1,168.2	1,416.0	1,581.8
Debt Purchased (Gross)	2,287.3	2,465.3	2,548.7	2,660.3	523.6	1,041.4	1,203.4	1,450.9	1,625.7
Provision for Debt Purchased	-23.2	-21.4	-72.6	-71.3	-57.3	-89.9	-35.2	-34.9	-43.9
Investment Securities	262,829.9	225,574.9	235,603.6	262,474.3	240,234.8	209,637.4	197,206.2	167,176.3	139,447.3
Available-for-sale Securities	259,054.7	221,512.5	232,242.8	258,676.3	236,771.9	205,508.0	192,578.8	162,593.0	134,470.0
Held-to-maturity Securities	4,336.6	4,295.1	4,467.4	4,255.6	3,969.6	4,612.5	5,422.3	5,173.9	5,493.0
Provision for Diminution in Value of Investment Securities	-561.4	-232.7	-1,106.6	-457.7	-506.7	-483.1	-794.9	-590.6	-515.8
Capital Contribution and Other Long-term Investments	467.9	468.4	1,112.4	582.9	696.6	609.5	578.4	582.8	591.7
Investments in Associates and Joint Ventures	—	—	—	—	—	—	—	—	0.0
Other Long-term Investments	559.1	559.6	1,235.7	707.0	820.8	775.7	742.2	746.6	755.5
Provision for Diminution in Value of Long-term Investments	-91.2	-91.2	-123.3	-124.1	-124.1	-166.2	-163.8	-163.8	-163.8
Fixed Assets	5,500.7	5,616.5	5,121.1	5,343.3	5,381.8	5,430.4	4,875.8	4,915.7	5,043.8
Tangible Fixed Assets	3,717.0	3,805.5	3,536.0	3,713.4	3,772.4	3,750.7	3,268.4	3,286.5	3,377.5
Tangible Fixed Assets Cost	9,473.5	—	—	—	—	—	—	—	—
Accumulated Depreciation of Tangible Fixed Assets	-5,756.5	—	—	—	—	—	—	—	—
Intangible Fixed Assets	1,783.6	1,811.0	1,585.1	1,629.9	1,609.4	1,679.7	1,607.4	1,629.1	1,666.3
Intangible Fixed Assets Cost	5,762.2	—	—	—	—	—	—	—	—
Accumulated Depreciation of Intangible Fixed Assets	-3,978.5	—	—	—	—	—	—	—	—
Investment Properties	216.3	222.8	219.4	220.9	232.6	234.1	235.7	237.2	238.7
Investment Properties Cost	250.2	—	—	—	—	—	—	—	—
Other Assets	42,837.7	49,531.5	32,902.9	29,912.6	26,852.3	28,998.5	27,222.0	26,903.9	26,640.1
Accounts Receivables	20,164.8	28,125.8	15,485.6	12,561.2	10,917.6	14,360.6	12,019.5	13,151.0	13,142.3
Interest and Fee Receivables	16,082.0	13,549.0	11,433.2	11,258.1	10,316.0	8,918.6	8,867.4	8,375.7	7,796.7
Deferred Income Tax Assets	37.8	34.3	41.9	38.3	39.3	38.9	35.1	34.3	29.8
Other Assets (Miscellaneous)	6,622.4	7,894.1	6,040.2	6,156.7	5,725.8	5,873.7	6,453.6	5,482.7	5,822.9
Provision for Risks in Other Assets	-69.4	-71.7	-98.0	-101.7	-146.4	-193.4	-153.5	-139.7	-151.5
Total Assets	1,611,222.8	1,615,763.9	1,328,560.3	1,289,644.3	1,156,917.2	1,128,801.1	1,028,819.2	988,604.9	900,647.1
Due to Government and Borrowings from the State Bank of Vietnam	28,346.5	47,474.8	23,155.3	20,894.1	5,494.4	8,156.3	5,047.0	7,404.2	3,900.7
Placements and Borrowings from Other Credit Institutions	256,891.5	248,017.5	154,325.4	130,930.9	109,015.7	110,169.6	118,559.6	104,173.7	82,905.5
Placements from Other Credit Institutions	256,891.5	248,017.5	154,325.4	130,930.9	109,015.7	110,169.6	118,559.6	104,173.7	82,905.5
Borrowings from Other Credit Institutions	—	—	—	—	—	—	—	—	0.0
Deposits from Customers	905,918.3	921,368.1	788,030.3	783,291.9	722,622.4	714,154.5	627,567.4	618,617.6	558,826.1
Derivatives and Other Financial Liabilities	661.3	698.5	1,228.2	842.9	526.1	191.5	—	1,076.2	381.5
Funds Received from Government and Institutions, Trust Investments and Syndicated Loans	3,247.0	3,912.8	4,048.7	3,282.2	3,003.1	2,793.5	3,352.0	3,299.6	3,456.1
Valuable Papers Issued	208,816.5	187,236.1	171,610.9	170,267.2	146,597.1	128,964.0	119,551.0	99,399.8	102,482.9
Other Liabilities	57,596.3	65,033.5	53,070.7	52,331.5	45,981.8	47,312.1	44,719.1	50,419.8	47,353.0
Interest and Fee Payables	16,185.5	13,245.9	10,698.1	11,038.1	11,305.8	9,899.9	8,824.2	9,024.0	11,905.2
Other Liabilities (Miscellaneous)	41,408.6	51,785.5	42,371.0	41,292.4	34,674.8	37,411.1	35,894.0	41,394.8	35,446.8
Total Liabilities	1,461,477.4	1,473,741.4	1,195,469.6	1,161,840.7	1,033,240.6	1,011,741.5	918,796.0	884,390.9	799,305.7
Capital and Reserves	149,745.3	142,022.5	133,090.7	127,803.6	123,676.5	117,059.6	110,023.2	104,213.9	97,274.6
Capital	83,965.5	83,965.5	83,850.8	64,255.4	64,255.3	56,295.8	56,103.4	56,103.4	54,938.4
Charter Capital	80,550.0	80,550.0	80,550.0	61,022.7	61,022.7	53,063.2	52,870.8	52,870.8	52,140.8
Share Premium	1,304.3	1,304.3	1,304.3	1,304.3	1,304.3	1,304.3	1,304.3	1,304.3	869.3
Other Capital	2,111.2	2,111.2	1,996.5	1,928.4	1,928.3	1,928.3	1,928.3	1,928.3	1,928.3
Reserves	19,352.0	19,390.9	19,530.4	19,829.0	14,856.2	14,996.8	15,149.2	15,215.7	12,155.8
Foreign Exchange Differences	205.6	202.2	206.4	188.6	148.9	137.8	72.7	137.8	87.5
Undistributed Earnings after Tax/Accumulated Loss	40,061.1	32,577.4	23,859.9	38,370.3	39,322.9	40,718.2	34,476.5	28,691.5	30,092.8
Minority Interest	6,161.1	5,886.5	5,643.2	5,160.3	5,093.3	4,910.9	4,221.3	4,065.5	0.0
Total Liabilities and Equity	1,611,222.8	1,615,763.9	1,328,560.3	1,289,644.3	1,156,917.2	1,128,801.1	1,028,819.2	988,604.9	900,647.1

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	26,904.7	24,515.9	22,171.2	20,202.9	18,186.7	18,355.8	16,687.2	16,012.3	17,474.0
Payments for Interest and Similar Expenses	-11,710.0	-9,408.5	-9,673.5	-8,990.9	-6,535.1	-6,133.0	-6,912.8	-8,958.7	-8,831.4
Receipts from Fee and Commission Income	1,708.7	2,088.9	1,326.6	1,915.5	1,235.4	1,180.8	888.0	1,354.3	945.2
Net Cash Inflow from Trading Activities in Foreign Currencies, Gold and Securities	166.7	201.6	696.5	1,472.9	1,274.3	2,959.0	664.9	1,204.1	1,449.8
Receipts from Other Income	354.7	343.8	76.2	345.9	175.6	508.4	156.2	57.0	100.7
Receipts from Collection of Written-off Debts	733.9	1,229.5	893.9	1,014.9	1,003.4	692.9	518.6	976.3	263.7
Payments for Staff Costs and Operating Expenses	-6,552.5	-6,460.4	-4,652.6	-3,724.5	-4,694.8	-4,909.4	-3,866.7	-3,284.0	-3,567.4
Corporate Income Tax Paid	-3,908.4	-1,454.1	-937.6	-912.3	-3,213.9	-18.5	-1,524.7	-1,128.9	-3,349.8
Cash Flow from Operating Activities before Changes in Operating Assets and Liabilities	7,697.9	11,056.7	9,900.7	11,324.3	7,431.7	12,636.0	6,610.8	6,232.2	4,484.8
(Increase)/Decrease in Placements with and Loans to Other Credit Institutions	912.9	-2,426.1	-1,958.1	-1,645.2	1,822.0	1,401.8	-6.4	-4,564.2	-2,505.6
(Increase)/Decrease in Trading Securities and Investment Securities	-37,984.5	9,405.8	27,644.2	-14,299.5	-35,198.4	-5,727.1	-32,250.0	-9,546.0	22,120.8
(Increase)/Decrease in Derivatives and Other Financial Assets	—	—	—	—	—	111.7	-111.7	0.0	141.3
(Increase)/Decrease in Loans and Advances to Customers	-36,365.1	-152,437.4	-51,498.4	-84,488.5	-20,361.1	-74,476.2	-27,973.0	-58,307.5	-4,044.7
(Decrease)/Increase in Provisions for Damages	-1,892.6	-2,866.6	-2,580.5	-3,282.1	-3,591.2	-2,337.3	-2,080.9	-3,043.1	-1,970.0
(Increase)/Decrease in Other Operating Assets	9,691.6	-14,562.7	-2,356.3	-1,980.4	3,504.5	-2,139.7	580.6	389.8	1,782.4
Increase/(Decrease) in Due to Government and Borrowings from State Bank	-19,128.3	24,319.5	2,261.3	15,399.6	-2,661.9	3,109.3	-2,357.3	3,503.6	3,891.9
Increase/(Decrease) in Placements and Borrowings from Other Credit Institutions	8,874.0	93,692.1	23,394.4	21,915.3	-1,153.9	-8,390.0	14,385.9	21,268.2	-16,905.0
Increase/(Decrease) in Deposits from Customers	-15,449.8	133,337.8	4,738.4	60,669.5	8,468.0	86,587.1	8,949.7	59,791.6	-8,706.5
Increase/(Decrease) in Valuable Papers Issued	25,378.9	19,438.8	-2,801.3	20,170.1	15,434.5	5,253.6	19,756.0	-6,884.0	-25,030.2
Increase/(Decrease) in Funds Received from Government and Institutions	-665.8	-135.9	766.5	279.2	209.6	-558.5	52.4	-156.5	656.2
Increase/(Decrease) in Derivatives and Other Financial Liabilities	-37.2	-529.7	385.4	316.7	334.6	-884.6	—	694.6	381.5
Increase/(Decrease) in Other Operating Liabilities	-5,957.8	7,285.3	2,810.2	3,243.5	-166.9	-92.6	-4,902.5	3,088.5	-139.4
Payments from Reserves	-46.1	-141.8	-301.2	-30.8	-146.4	-155.3	-67.8	-80.9	-44.3
Net Cash Flows from Operating Activities	-64,971.8	125,435.8	10,405.0	27,591.6	-26,075.0	15,414.3	-20,490.1	12,386.3	-25,886.8
Purchase of Fixed Assets	-592.0	-854.1	-452.3	-368.0	-105.9	-910.2	-532.7	-291.3	-567.5
Receipts from Disposal of Fixed Assets	1.9	0.5	227.6	3.0	0.2	1.7	3.0	2.1	0.0
Payments for Investment in Other Entities	0.5	500.0	-506.9	56.2	-71.3	-61.7	—	—	24.1
Dividends and Profit Received	0.0	19.7	12.5	27.2	0.0	32.9	-3.5	21.8	1.5
Net Cash Flows from Investing Activities	-589.6	2,082.6	-776.7	-224.0	-177.0	-909.0	-528.9	-258.5	-541.8
Receipts from Equity Issue and Owner Capital Contribution	85.9	—	9,843.6	—	—	995.4	0.0	1,165.0	—
Receipts from Issue of Valuable Papers and Other Long-term Borrowings	—	6,475.0	—	3,500.0	2,198.6	4,159.5	395.1	3,801.0	1,050.0
Dividends Paid and Profits Distributed to Owners	—	0.0	-2,072.6	—	—	-162.7	0.0	-2,643.5	—
Net Cash Flows from Financing Activities	-3,712.6	-3,813.6	2,072.4	3,500.0	2,198.6	4,992.2	395.1	2,322.5	1,050.0
Net Cash Flows during the Period	-69,274.1	123,704.8	11,700.7	30,867.5	-24,053.4	19,497.4	-20,623.9	14,450.3	-25,378.6
Cash and Cash Equivalents at Beginning of the Period	239,260.0	115,555.1	103,854.4	72,986.9	97,040.3	77,542.9	98,166.7	83,716.5	109,095.1
Cash and Cash Equivalents at End of the Period	169,985.9	239,260.0	115,555.1	103,854.4	72,986.9	97,040.3	77,542.9	98,166.7	83,716.5

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