Approval of Capital Increase Plan to VND 37.44 Trillion – Sustaining Momentum for Long-Term Growth

[Hanoi, April 24, 2026] The Annual General Meeting of Shareholders of Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) approved several important proposals, most notably the plan to increase charter capital from VND 31.2 trillion to VND 37.44 trillion through a 20% share issuance funded by equity capital.

Capital Increase and Pre-Tax Profit Target of VND 8 Trillion

On the morning of April 24, MSB held its 35th Annual General Meeting of Shareholders at its headquarters in Hanoi. In addition to reviewing the Bank’s 2025 business performance, the meeting approved MSB’s 2026 business plan and charter capital increase proposal.

Against the backdrop of continued economic uncertainty, shareholders agreed on a prudent operating strategy for 2026, focusing on improving operational efficiency and strengthening risk management.

Accordingly, MSB targets total assets of VND 460 trillion, up 13% compared to 2025. Total mobilized capital from Market I and bond issuances is expected to reach VND 280 trillion, an increase of 24% year-on-year. Total outstanding credit is projected to grow by 18% to VND 244 trillion (*). Pre-tax profit is expected to rise 13% year-on-year to VND 8 trillion. Alongside growth objectives, MSB will continue maintaining its non-performing loan ratio below 3% in accordance with regulatory requirements.

To further strengthen its competitiveness, enhance its charter capital position, ensure financial safety standards, and reinforce its capital buffer, shareholders also approved a plan to raise charter capital to VND 37.44 trillion through a 20% stock issuance from equity capital sources. The maximum number of additional shares to be issued is 624 million shares, with no transfer restrictions.

The detailed implementation timeline will be carried out during 2026, subject to market conditions and MSB’s business performance.

This year’s capital increase plan through share issuance to existing shareholders further demonstrates the investment value delivered to shareholders while maximizing the potential benefits of MSB shares. It also reflects the Bank’s ability to sustain revenue and profit growth while maintaining annual safety ratios in line with its strategic objectives.

Strengthening the Ecosystem: Strategic Moves with TNEX and Investment Funds

Alongside strengthening its financial capacity, MSB continues to enhance its financial ecosystem through strategic directions approved at the meeting.

Specifically, the Bank proposed a capital contribution and share acquisition plan in a fund management company, aiming to transform it into a subsidiary and thereby expand its investment product and asset management capabilities.

At the same time, MSB proposed converting TNEX Finance One Member Limited Liability Company from a specialized finance company model into a general finance company model, with the goal of diversifying products and improving business efficiency.

In 2025, TNEX delivered outstanding financial growth, with total assets increasing 84% compared to 2024 to VND 7.017 trillion. Outstanding credit reached VND 3.805 trillion, up 114%, while total revenue rose 95% to VND 699 billion. Following the model transformation, TNEX is expected to maintain strong growth momentum, targeting a 20% increase in total assets, more than 100% growth in outstanding credit, nearly 200% growth in revenue, and over 700% growth in pre-tax profit.

Q1 2026 Profit Reaches VND 1.89 Trillion, Creating Momentum Toward the Annual Target of VND 8 Trillion

In line with its annual plan, MSB recorded positive business results in the first quarter of 2026, reflecting stability in core operations and effective management.

In the first three months of 2026, the Bank recorded consolidated pre-tax profit of nearly VND 1.89 trillion, up 16% year-on-year and achieving nearly 24% of its annual target. As of March 31, 2026, consolidated total assets reached nearly VND 413 trillion, continuing the growth trend from the end of 2025.

Operational efficiency indicators remained at healthy levels, with ROA at 1.55%, ROE at 14.14%, and NIM at 3.23%, despite ongoing fluctuations in interest rates and financial markets.

At the same time, the Bank continued to effectively control operating costs, with the CIR ratio decreasing to 34.51%, reflecting improved operational optimization. CASA deposits accounted for 26.5% of total deposits, consistent with seasonal trends in the early months of the year and expected to improve further in upcoming quarters.

Risk management also remained a key focus, with safety indicators maintained within controlled thresholds. By the end of Q1 2026, the consolidated non-performing loan (NPL) ratio stood at 1.88%; the loan-to-deposit ratio (LDR) reached 62.91%; and the medium- and long-term lending ratio funded by short-term capital was 25.76%, ensuring compliance with regulations and maintaining strong liquidity.

Integrating ESG into Business Strategy – A Foundation for Sustainable Long-Term Growth

The year 2026 marks a significant milestone in MSB’s ESG strategy implementation.

During the first half of 2026, MSB plans to finalize and officially launch its ESG Strategy while implementing a five-year ESG roadmap. The Bank will introduce ESG initiatives across the organization, align ESG objectives with relevant business units, and integrate the three ESG pillars — Environmental, Social, and Governance — along with measurement indicators into its overall business strategy.

Specific goals and KPIs for each ESG pillar will be assigned to each unit to ensure feasibility and alignment with the Bank’s digital transformation and green growth roadmap.

Through these efforts, MSB aims not only to strengthen ESG governance capabilities but also to embed ESG principles into daily operations and decision-making processes, creating a solid foundation for sustainable growth, fostering ESG as part of the corporate culture, and advancing toward Net Zero goals and long-term sustainable value for shareholders, customers, and the community.

The directions and plans approved at the Annual General Meeting of Shareholders will serve as an important foundation for the Bank to realize its 2026 goals and maintain growth momentum in the years ahead.

(*) Subject to approval from the State Bank of Vietnam from time to time.

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