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Factors affecting financial performance of commercial banks in vietnam

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Tiêu đề Factors Affecting Financial Performance of Commercial Banks in Vietnam
Tác giả Kim Thi Que Chi
Người hướng dẫn Dr. Lê Hà Diễm Chi
Trường học Banking University of Ho Chi Minh City
Chuyên ngành Finance - Banking
Thể loại Graduation Thesis
Năm xuất bản 2021
Thành phố Ho Chi Minh City
Định dạng
Số trang 155
Dung lượng 2,87 MB

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MINISTRY OF EDUCATION STATE BANK OF VIETNAM AND TRANDING BANKING UNIVERSITY HCMC KIM THỊ QUẾ CHI FACTORS AFFECTING FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN VIETNAM GRADUATION THESIS SPEACIALITY: FINANCE – BANKING CODE: 7340201 HO CHI MINH CITY, 2021 MINISTRY OF EDUCATION STATE OF VIETNAM AND TRANDING BANKING UNIVERSITY HCMC KIM THỊ QUẾ CHI FACTORS AFFECTING FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN VIETNAM GRADUATION THESIS SPEACIALITY: FINANCE – BANKING CODE: 7340201 Instructor DR LÊ HÀ DIỄM CHI HO CHI MINH CITY, 2021 ABSTRACT “Factors affecting financial performance of commercial bank in Vietnam” using data from 31 commercial banks on a panel data sample from 2012 to 2020 The independent variables are EA (equity to asset ratio), SIZE (natural log of total asset), FATA (asset quality), LLR (loan loss reserves), and LIQ (liquidity), while the dependent variables are EA (equity to asset ratio), SIZE (natural log of total asset), FATA (asset quality), LLR (loan loss reserves), and LIQ (liquidity) GDP (economic growth) and INF are macro parameters (inflation) The CAMEL safety framework is also used to assess the dependent variables on financial performance The goal of this study was to figure out and quantify the impact of common factors on the financial performance of commercial banks in Vietnam The S-GMM regression model is used in this study to examine the factors affecting the financial performance of 31commercial banks in Vietnam from 2010 to 2020 At the 1% level of significance, the results show that EA, SIZE, CIR, LOAN, CPI, and GDP have a positive effect on ROA, whereas FATA and LIQ have a negative effect ROA was not statistically significant for LLR or NPL The results for ROE show that EA, SIZE, CIR, LOAN, CPI, and GDP have a positive effect on ROE, but FATA and NPL have a negative effect The remaining LLR and LIQ are statistically insignificant in relation to ROE Finally, when it comes to NIM, the results show that EA, SIZE, LLR, CIR, NPL, and LOAN have a positive effect, whereas LIQ and CPI have a negative effect FATA and GDP, on the other hand, have no statistical significance Based on this, the author has proposed solutions to improve financial performance at commercial banks in Vietnam Keywords: Financial performance, CAMEL, Commercial Bank, Vietnam i GUARANTEE My name is Kim Thi Que Chi, and I am a student at the Banking University of Ho Chi Minh City, class HQ5 – GE08, student number: 030805170052 I hereby declare that the thesis topic "Factor affecting the financial performance of commercial banks in Vietnam" majoring in Finance - Banking, is my own research work that I directed Dr Le Ha Diem Chi's scientific advisor The data and research findings in this thesis are honest, with no previously published or made by others except for fully cited citations in the thesis HCM City, 23 November, 2021 Author KIM THI QUE CHI ii ACKNOWLEDGEMENTS First of all, I would like to thank the teachers of Banking University of Ho Chi Minh City - who have imparted valuable knowledge to me during the four years of the University Thank you for giving me the opportunity to meet and study at Banking University of Ho Chi Minh City Next, I would like to express my sincere thanks to Ms Le Ha Diem Chi who was the instructor who guided me throughout the process of making my internship report until my graduation thesis Thank you for always taking the time and dedication to guide me every step of the way Besides, there are valuable comments and suggestions to improve my research paper Finally, I would like to express my heartfelt appreciation to my family and friends, who have always helped, accompanied, and supported me over the years With limited knowledge and circumstances, this thesis cannot avoid many flaws As a result, I am looking forward to receiving teacher guidance so that I can improve my knowledge and serve my work in the future Sincerely thank everyone! iii CONTENTS ABSTRACT i GUARANTEE ii ACKNOWLEDGEMENTS iii CONTENTS iv LIST OF ACRONYMS viii LIST OF DIAGRAMS ix LIST OF TABLES x CHAPTER 1: INTRODUCTION 1.1 REASONABLE FOR RESEARCH 1.2 OBJECTIVES OF STUDY .2 1.2.1 General objective 1.2.2 Specific objective 1.3 RESEARCH QUESTION 1.4 SUBJECT AND SCOPE OF THE STUDY 1.4.1 Research Subject 1.4.2 Scope of the study 1.5 RESEARCH METHODOGY 1.6 CONTRIBUTIONS 1.7 STRUCTURE OF RESEARCH CONCLUSION CHAPTER CHAPTER 2: LITERATURE .7 2.1 OVERVIEW OF FINANCIAL PERFORMANCE OF JOINT STOCK COMMERCIAL BANKS 2.1.1 Definition of financial performance 2.1.2 The indicators reflect the financial performance of commercial banks iv 2.1.3 Indicators reflecting the financial performance of joint stock commercial banks according to the safety framework CAMEL 10 2.2 FACTORS AFFECTING THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS 16 2.2.1 Macro factor 16 2.2.2 Bank specific 18 2.3 Overview of the studies to the thesis 19 2.3.1 Domestic studies 19 2.3.2 Forgein studies 22 CONCLUSION CHAPTER 31 CHAPTER 3: RESEARCH METHODS 32 3.1 DATA COLLECTION: 32 3.2 RESEARCH MODELS 33 3.3 DESCRIPTION VARIABLE AND RESEARCH HYPOTHESIS .34 3.3.1 Dependent variable 34 3.3.1.1 ROA (Return on assets) 34 3.3.1.2 ROE (Return on Equity) 35 3.3.1.3 NIM (Net Interest Margin) 35 3.3.2 Independent variables 36 3.3.2.1 Capital adequacy (EA) 36 3.3.2.2 Bank size (SIZE) 36 3.3.2.3 Asset quality (FATA) 37 3.3.2.4 Loan Loss Reserves (LLR) 37 3.3.2.5 Management quality (CIR) 38 3.3.2.6 Bad Debt Ratio (NPL) 38 3.3.2.7 Loan (LOAN) 38 3.3.2.8 Liquidity (LIQ) 39 v 3.3.2.9 Inflation rate (CPI) 39 3.3.2.10 Economic Growth (GDP) 40 3.4 RESEARCH PROCESS 44 3.5 RESEARCH METHODS 45 3.5.1 Ordinary Least Squares (OLS) 45 3.5.2 Fixed Effect Model (FEM) 46 3.5.3 Random Effect Model (REM) 46 3.5.4 Feasible Generalized Least Square (FGLS) 46 3.5.5 System Generalized Model of Moments (S-GMM) 47 3.5.6 Check for suitable model selection 47 CONCLUSION CHAPTER 50 CHAPTER 4: RESEARCH RESULTS AND DISCUSSION 51 4.1 DESCRIPTIVE STATISTICAL 51 4.2 CORRELATION ANALYSIS 54 4.3 MULTICOLLINEARITY TEST 58 4.4 ESTIMATED THE THE POOLED OLS, FEM, REM MODELS 59 4.5 SELECTION TEST OF MODELS POOLED OLS AND FEM 63 4.6 ESTIMATED THE FGLS 66 4.7 DEFECT TESTING OF MODEL 67 4.7.1 Check the endogeneity of the variables in the model 67 4.7.2 Check the suitability of the GMM model 69 4.7.3 Regresion S-GMM model 71 4.8 DISCUSS RESEARCH RESULTS 74 4.8.1 Capital adequacy (EA) 78 4.8.2 Bank size (SIZE) .80 4.8.3 Asset quality (FATA) 81 4.8.4 Loan loss reservers (LLR) 82 vi 4.8.5 Management quality (CIR) 83 4.8.6 Bad dept ratio (NPL) 84 4.8.7 LOAN 85 4.8.8 Liquidity (LIQ) 87 4.8.9 Inflation (CPI) 88 4.8.10 Economic growth (GDP) 89 CONCLUSION CHAPTER 91 CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS 92 5.1 CONCLUSION 92 5.2 PROPOSE RECOMMENDATIONS 93 5.2.1 Solutions for improving capital adequacy 93 5.2.2 Bank size expansion 94 5.2.3 The solution to the bad debt problem 94 5.2.4 Limit liquidity risk 94 5.2.5 Improve credit quality 95 5.3 LIMITATIONS OF THE TOPIC AND RESEARCH DIRECTIONS 95 CONCLUSSION CHAPTER 96 REFERENCES 97 APPENDIX 101 vii LIST OF ACRONYMS Acronyms English ROA Return on asset ROE Return on equity NIM Net Interest Margin EA Equity to asset ratio SIZE Natural log of total asset FATA Asset quality LLR Loan loss reserves CIR Management quality NPL Bad dept ratio INF Infaltion GDP Economic growth FIP Financial performance OLS Ordinary Least Squares FEM Fixed Effect Model REM Random Effect Model VIF Variance Inflation Factors FGLS Feasible Generalized Least Square GMM Generalized method of moments viii BID 2018 2.76% 0.57% 13.83% 4.15% 9.12 0.81% 1.94% 32.72% 1.93% 74.36% 75.37% 3.54% 7.08% BID 2019 2.50% 0.57% 11.01% 5.21% 9.17 0.71% 1.83% 32.63% 1.75% 73.99% 74.78% 2.80% 7.02% BID 2020 2.44% 0.48% 9.07% 5.25% 9.18 0.69% 1.95% 31.43% 1.54% 78.81% 80.88% 3.23% 2.91% BVB 2010 2.19% 0.97% 8.04% 12.01% 7.14 0.59% 0.54% 42.86% 4.07% 40.69% 53.15% 9.21% 6.42% BVB 2011 2.88% 0.87% 6.92% 12.64% 7.12 0.64% 0.64% 54.09% 2.70% 50.16% 53.16% 18.68% 6.24% BVB 2012 3.10% 0.69% 2.89% 23.74% 7.12 0.51% 0.88% 57.23% 1.90% 49.77% 47.17% 9.09% 5.25% BVB 2013 2.96% 0.63% 3.33% 18.97% 7.23 0.26% 1.48% 51.54% 4.11% 46.80% 51.24% 6.59% 5.42% BVB 2014 1.62% 0.43% 3.11% 13.83% 7.38 0.19% 0.65% 59.64% 2.20% 40.19% 51.36% 4.08% 5.98% BVB 2015 1.61% 0.28% 2.57% 10.95% 7.49 0.14% 0.91% 59.83% 1.20% 41.63% 49.27% 0.63% 6.68% BVB 2016 1.87% 0.27% 2.84% 9.58% 7.54 0.11% 1.43% 54.71% 1.30% 43.91% 60.37% 2.67% 6.21% BVB 2017 1.89% 0.30% 4.13% 7.16% 7.69 0.07% 1.87% 46.89% 1.80% 43.81% 49.25% 3.52% 6.81% BVB 2018 1.19% 0.14% 2.30% 6.22% 7.75 0.12% 1.34% 56.02% 2.10% 45.52% 48.39% 3.54% 7.08% BVB 2019 1.26% 0.14% 2.38% 5.96% 7.78 0.15% 1.52% 57.31% 2.51% 40.62% 48.88% 2.80% 7.02% CTG 2010 3.44% 0.93% 18.58% 5.00% 8.57 0.90% 1.31% 50.75% 0.66% 62.94% 56.00% 9.21% 6.42% CTG 2011 4.57% 1.36% 21.81% 6.23% 8.66 0.81% 1.69% 38.12% 0.75% 63.05% 55.86% 18.68% 6.24% CTG 2012 3.87% 1.23% 18.23% 6.72% 8.70 1.05% 1.32% 41.60% 1.35% 65.47% 57.42% 9.09% 5.25% CTG 2013 3.36% 1.01% 10.70% 9.42% 8.76 1.23% 1.11% 43.47% 0.82% 64.71% 63.24% 6.59% 5.42% CTG 2014 2.87% 0.87% 10.37% 8.36% 8.82 1.35% 0.90% 40.07% 0.90% 65.86% 64.15% 4.08% 5.98% CTG 2015 2.55% 0.73% 10.19% 7.20% 8.89 1.11% 0.88% 41.48% 0.73% 68.45% 63.24% 0.63% 6.68% CTG 2016 2.47% 0.71% 11.22% 6.36% 8.98 1.12% 0.77% 43.93% 0.93% 69.06% 69.06% 2.67% 6.21% 129 CTG 2017 2.59% 0.68% 11.70% 5.82% 9.04 1.04% 1.07% 41.42% 1.13% 71.45% 68.76% 3.52% 6.81% CTG 2018 2.02% 0.47% 8.03% 5.79% 9.07 0.95% 0.91% 43.27% 1.59% 73.16% 70.92% 3.54% 7.08% CTG 2019 2.79% 0.76% 12.25% 6.23% 9.09 0.89% 1.41% 34.20% 1.16% 74.34% 71.96% 2.80% 7.02% CTG 2020 2.76% 1.03% 16.11% 6.37% 9.13 0.81% 1.21% 32.34% 0.94% 74.75% 73.83% 3.23% 2.91% DAB 2010 2.97% 1.18% 12.16% 9.70% 7.75 1.68% 0.37% 47.18% 1.60% 67.79% 56.23% 9.21% 6.42% DAB 2011 4.68% 1.44% 16.29% 8.87% 7.82 1.87% 0.68% 42.92% 1.69% 66.12% 55.02% 18.68% 6.24% DAB 2012 4.21% 0.83% 9.46% 8.81% 7.84 1.99% 1.27% 41.90% 3.95% 71.82% 73.31% 9.09% 5.25% DAB 2013 3.51% 0.44% 5.58% 7.86% 7.87 2.16% 1.07% 50.96% 3.99% 69.61% 86.88% 6.59% 5.42% EIB 2010 2.46% 1.38% 13.43% 10.30% 8.12 0.81% 0.43% 26.44% 1.43% 47.07% 44.35% 9.21% 6.42% EIB 2011 3.16% 1.66% 18.64% 8.88% 8.26 1.04% 0.37% 29.42% 1.61% 40.34% 29.23% 18.68% 6.24% EIB 2012 3.31% 1.26% 13.53% 9.29% 8.23 1.95% 0.32% 37.35% 1.32% 43.68% 41.41% 9.09% 5.25% EIB 2013 1.72% 0.39% 4.49% 8.64% 8.23 2.54% 0.36% 57.90% 1.98% 48.66% 46.79% 6.59% 5.42% EIB 2014 1.80% 0.03% 0.40% 8.73% 8.21 3.25% 0.96% 59.92% 2.46% 53.46% 62.93% 4.08% 5.98% EIB 2015 2.94% 0.03% 0.30% 10.53% 8.10 3.80% 1.71% 53.49% 1.86% 67.19% 78.84% 0.63% 6.68% EIB 2016 2.57% 0.24% 2.30% 10.44% 8.11 2.61% 1.27% 58.42% 2.95% 66.63% 79.46% 2.67% 6.21% EIB 2017 1.90% 0.55% 5.77% 9.54% 8.17 2.15% 0.60% 53.08% 2.27% 67.13% 78.69% 3.52% 6.81% EIB 2018 2.24% 0.43% 4.44% 9.75% 8.18 2.33% 0.70% 62.78% 1.85% 67.45% 77.75% 3.54% 7.08% EIB 2019 2.03% 0.52% 5.50% 9.40% 8.22 2.06% 0.62% 54.98% 1.71% 66.96% 83.13% 2.80% 7.02% EIB 2020 2.18% 0.67% 6.36% 10.48% 8.21 2.09% 0.67% 52.98% 2.52% 62.01% 83.47% 3.23% 2.91% HDB 2010 1.83% 0.78% 11.43% 6.86% 7.54 0.74% 0.19% 43.95% 0.83% 33.86% 40.67% 9.21% 6.42% 130 HDB 2011 3.73% 0.95% 12.02% 7.88% 7.65 0.73% 0.63% 41.49% 2.11% 30.44% 42.40% 18.68% 6.24% HDB 2012 2.07% 0.62% 6.05% 10.22% 7.72 0.59% 1.43% 49.04% 2.35% 39.70% 64.91% 9.09% 5.25% HDB 2013 0.44% 0.25% 2.53% 9.97% 7.94 0.68% 0.44% 70.23% 3.53% 50.25% 72.35% 6.59% 5.42% HDB 2014 1.89% 0.48% 5.18% 9.24% 8.00 0.53% 1.10% 60.56% 2.04% 41.71% 65.72% 4.08% 5.98% HDB 2015 3.48% 0.59% 6.40% 9.24% 8.03 0.76% 1.67% 56.80% 1.59% 52.45% 70.00% 0.63% 6.68% HDB 2016 3.41% 0.61% 9.20% 6.62% 8.18 0.90% 1.22% 59.63% 1.46% 54.10% 68.73% 2.67% 6.21% HDB 2017 3.57% 1.03% 13.24% 7.80% 8.28 0.81% 0.98% 53.53% 1.52% 54.58% 63.66% 3.52% 6.81% HDB 2018 3.72% 1.48% 19.02% 7.79% 8.33 0.75% 0.82% 46.27% 0.97% 56.37% 59.27% 3.54% 7.08% HDB 2019 4.54% 1.75% 19.73% 8.88% 8.36 0.39% 0.89% 43.72% 0.93% 63.06% 54.92% 2.80% 7.02% HDB 2020 3.97% 1.46% 18.81% 7.74% 8.50 0.33% 1.01% 44.00% 0.93% 55.27% 54.72% 3.23% 2.91% KLB 2010 4.43% 1.55% 6.06% 25.54% 7.10 3.05% 0.48% 33.78% 1.11% 55.01% 52.24% 9.21% 6.42% KLB 2011 5.33% 2.21% 11.42% 19.36% 7.25 2.43% 0.43% 36.94% 2.77% 46.55% 45.59% 18.68% 6.24% KLB 2012 6.35% 1.89% 10.19% 18.54% 7.27 3.09% 0.76% 49.38% 2.93% 51.35% 57.27% 9.09% 5.25% KLB 2013 5.35% 1.47% 9.02% 16.26% 7.33 3.10% 0.69% 52.03% 2.47% 56.16% 62.25% 6.59% 5.42% KLB 2014 3.87% 0.76% 5.23% 14.56% 7.36 4.15% 0.32% 63.43% 1.95% 57.96% 71.72% 4.08% 5.98% KLB 2015 3.72% 0.65% 4.90% 13.32% 7.40 4.14% 0.41% 65.30% 1.13% 63.50% 79.30% 0.63% 6.68% KLB 2016 2.96% 0.40% 3.60% 11.05% 7.48 4.32% 0.47% 71.97% 1.06% 64.35% 75.17% 2.67% 6.21% KLB 2017 3.15% 0.54% 5.68% 9.51% 7.57 3.75% 0.28% 69.56% 0.84% 65.54% 69.99% 3.52% 6.81% KLB 2018 2.57% 0.55% 6.18% 8.86% 7.63 3.52% 0.13% 72.37% 0.94% 69.05% 69.03% 3.54% 7.08% KLB 2019 2.15% 0.13% 1.78% 7.42% 7.71 2.99% 0.23% 84.83% 1.02% 64.94% 64.42% 2.80% 7.02% 131 LPB 2010 3.86% 1.95% 16.63% 11.74% 7.54 1.02% 0.59% 38.18% 0.42% 27.88% 35.20% 9.21% 6.42% LPB 2011 4.05% 1.74% 14.82% 11.75% 7.75 1.07% 0.59% 41.45% 2.14% 22.52% 45.71% 18.68% 6.24% LPB 2012 4.32% 1.31% 11.75% 11.13% 7.82 1.13% 1.36% 40.23% 2.71% 34.01% 62.24% 9.09% 5.25% LPB 2013 3.27% 0.71% 7.79% 9.14% 7.90 1.02% 0.98% 49.81% 2.48% 36.38% 69.80% 6.59% 5.42% LPB 2014 2.58% 0.46% 6.31% 7.33% 8.00 1.07% 0.56% 51.99% 1.11% 40.49% 77.20% 4.08% 5.98% LPB 2015 3.04% 0.33% 4.60% 7.06% 8.03 1.09% 0.91% 52.11% 0.88% 51.56% 72.15% 0.63% 6.68% LPB 2016 3.01% 0.75% 12.76% 5.87% 8.15 0.88% 0.63% 46.90% 1.11% 55.48% 78.23% 2.67% 6.21% LPB 2017 3.37% 0.84% 14.58% 5.74% 8.21 0.89% 0.52% 48.17% 1.04% 60.81% 78.49% 3.52% 6.81% LPB 2018 3.04% 0.55% 9.41% 5.83% 8.24 0.84% 0.53% 56.32% 1.41% 67.23% 71.36% 3.54% 7.08% LPB 2019 3.15% 0.79% 12.72% 6.23% 8.31 0.74% 0.31% 59.19% 1.44% 68.69% 67.73% 2.80% 7.02% LPB 2020 2.93% 0.77% 13.08% 5.87% 8.38 0.67% 0.40% 58.55% 1.43% 71.95% 72.02% 3.23% 2.91% MBB 2010 3.47% 1.59% 17.92% 8.89% 8.04 1.12% 1.14% 28.05% 1.26% 43.84% 59.97% 9.21% 6.42% MBB 2011 4.09% 1.38% 18.60% 7.42% 8.14 1.12% 1.11% 28.72% 1.59% 41.74% 64.50% 18.68% 6.24% MBB 2012 3.99% 1.32% 17.15% 7.70% 8.24 0.85% 2.77% 34.33% 1.84% 41.66% 67.05% 9.09% 5.25% MBB 2013 3.65% 1.27% 14.55% 8.71% 8.26 1.02% 2.20% 34.66% 2.45% 47.66% 75.45% 6.59% 5.42% MBB 2014 3.47% 1.25% 14.60% 8.55% 8.30 0.96% 2.06% 35.45% 2.73% 48.93% 83.60% 4.08% 5.98% MBB 2015 3.52% 1.14% 10.84% 10.49% 8.34 0.87% 1.76% 35.04% 1.63% 54.00% 82.14% 0.63% 6.68% MBB 2016 3.31% 1.13% 10.85% 10.38% 8.41 0.96% 1.37% 39.33% 1.32% 58.02% 76.02% 2.67% 6.21% MBB 2017 3.78% 1.11% 11.79% 9.43% 8.50 0.83% 1.79% 36.40% 1.20% 58.00% 70.15% 3.52% 6.81% MBB 2018 4.26% 1.71% 18.11% 9.43% 8.56 0.74% 1.44% 37.01% 1.33% 58.37% 66.23% 3.54% 7.08% 132 MBB 2019 4.63% 1.96% 20.23% 9.69% 8.61 0.68% 1.98% 34.34% 0.98% 60.06% 66.27% 2.80% 7.02% MBB 2020 4.29% 1.68% 16.02% 10.51% 8.71 0.85% 1.92% 31.85% 0.92% 62.37% 64.18% 3.23% 2.91% MSB 2010 2.10% 1.00% 18.29% 5.49% 8.06 0.53% 0.44% 33.54% 1.87% 27.33% 42.16% 9.21% 6.42% MSB 2011 1.51% 0.70% 8.39% 8.31% 8.06 0.63% 0.32% 42.00% 2.27% 32.69% 54.47% 18.68% 6.24% MSB 2012 2.14% 0.21% 2.49% 8.27% 8.04 0.82% 1.80% 61.09% 2.65% 25.65% 54.21% 9.09% 5.25% MSB 2013 1.84% 0.31% 3.50% 8.79% 8.03 0.79% 1.22% 58.04% 2.71% 24.90% 61.14% 6.59% 5.42% MSB 2014 1.41% 0.14% 1.51% 9.05% 8.02 0.73% 3.15% 53.58% 2.61% 22.01% 60.57% 4.08% 5.98% MSB 2015 1.76% 0.11% 0.85% 13.05% 8.02 0.79% 1.92% 61.94% 2.16% 26.35% 60.03% 0.63% 6.68% MSB 2016 2.95% 0.15% 1.03% 14.69% 7.97 0.70% 5.03% 45.30% 2.36% 37.43% 62.18% 2.67% 6.21% MSB 2017 1.73% 0.11% 0.89% 12.23% 8.05 0.51% 2.84% 58.73% 2.23% 31.88% 50.65% 3.52% 6.81% MSB 2018 2.55% 0.63% 6.28% 10.03% 8.14 0.24% 1.55% 58.57% 2.21% 34.67% 46.11% 3.54% 7.08% MSB 2019 2.30% 0.66% 7.02% 9.47% 8.20 0.21% 1.48% 48.63% 2.04% 39.95% 51.52% 2.80% 7.02% MSB 2020 3.15% 1.14% 11.92% 9.55% 8.25 0.17% 1.37% 46.53% 1.62% 44.42% 49.53% 3.23% 2.91% NAB 2010 2.33% 0.96% 6.37% 14.99% 7.16 3.62% 0.84% 40.62% 2.18% 36.17% 39.85% 9.21% 6.42% NAB 2011 3.35% 1.27% 7.63% 16.69% 7.28 4.38% 0.31% 39.59% 2.84% 36.48% 34.12% 18.68% 6.24% NAB 2012 3.47% 1.13% 5.51% 20.47% 7.20 5.19% 1.19% 44.37% 2.71% 42.34% 54.52% 9.09% 5.25% NAB 2013 1.54% 0.47% 4.14% 11.32% 7.46 3.26% 0.67% 47.13% 1.48% 39.93% 47.53% 6.59% 5.42% NAB 2014 2.00% 0.50% 5.62% 8.93% 7.57 2.48% 0.49% 54.75% 1.47% 42.13% 54.49% 4.08% 5.98% NAB 2015 2.97% 0.55% 5.69% 9.63% 7.55 2.37% 1.18% 52.17% 0.91% 58.28% 68.70% 0.63% 6.68% NAB 2016 3.08% 0.08% 0.96% 8.01% 7.63 1.92% 2.04% 57.18% 2.94% 55.19% 79.53% 2.67% 6.21% 133 NAB 2017 2.29% 0.44% 6.52% 6.74% 7.74 1.53% 1.47% 49.52% 1.95% 65.21% 73.22% 3.52% 6.81% NAB 2018 2.37% 0.79% 13.98% 5.64% 7.88 1.10% 0.20% 59.57% 1.54% 66.67% 72.19% 3.54% 7.08% NAB 2019 2.45% 0.77% 14.75% 5.24% 7.98 0.93% 0.02% 60.26% 1.97% 70.50% 74.71% 2.80% 7.02% NAB 2020 2.08% 0.60% 12.12% 4.91% 8.13 0.75% 0.63% 49.50% 0.83% 65.76% 73.15% 3.23% 2.91% NCB 2010 2.76% 0.78% 7.76% 10.10% 7.30 0.53% 0.39% 51.10% 2.24% 53.15% 53.56% 9.21% 6.42% NCB 2011 3.83% 0.74% 5.17% 14.30% 7.35 0.62% 0.54% 49.36% 2.92% 56.70% 65.89% 18.68% 6.24% NCB 2012 4.18% 0.01% 0.07% 14.76% 7.33 0.76% 0.70% 83.06% 5.64% 58.68% 56.86% 9.09% 5.25% NCB 2013 2.48% 0.06% 0.58% 11.02% 7.46 3.59% 0.18% 85.54% 6.07% 45.63% 63.21% 6.59% 5.42% NCB 2014 2.00% 0.02% 0.25% 8.72% 7.57 3.12% 0.30% 87.07% 2.52% 44.64% 66.35% 4.08% 5.98% NCB 2015 1.94% 0.01% 0.20% 6.67% 7.68 2.42% 0.51% 78.15% 2.15% 41.93% 70.56% 0.63% 6.68% NCB 2016 1.64% 0.02% 0.34% 4.68% 7.84 1.71% 0.79% 72.84% 1.48% 36.32% 60.56% 2.67% 6.21% NCB 2017 1.86% 0.03% 0.68% 4.48% 7.86 1.91% 0.74% 67.07% 1.53% 44.20% 63.64% 3.52% 6.81% NCB 2018 1.62% 0.05% 1.12% 4.46% 7.86 0.85% 0.39% 47.36% 1.67% 48.72% 65.10% 3.54% 7.08% NCB 2019 1.73% 0.05% 1.00% 5.36% 7.91 0.73% 0.86% 59.90% 1.93% 46.62% 73.51% 2.80% 7.02% OCB 2010 3.58% 1.55% 9.70% 15.95% 7.29 1.60% 0.16% 37.92% 2.05% 58.30% 44.12% 9.21% 6.42% OCB 2011 4.07% 1.19% 8.07% 14.75% 7.41 1.50% 0.56% 39.37% 2.80% 53.76% 38.51% 18.68% 6.24% OCB 2012 4.76% 0.84% 6.02% 13.93% 7.44 1.47% 1.49% 40.31% 2.80% 61.72% 55.69% 9.09% 5.25% OCB 2013 4.15% 0.74% 6.09% 12.09% 7.52 1.40% 1.49% 43.12% 2.90% 60.90% 58.29% 6.59% 5.42% OCB 2014 2.92% 0.56% 5.49% 10.28% 7.59 1.13% 1.43% 49.67% 3.00% 54.12% 61.13% 4.08% 5.98% OCB 2015 2.86% 0.42% 4.96% 8.55% 7.69 0.86% 1.33% 51.74% 1.90% 55.52% 59.67% 0.63% 6.68% 134 OCB 2016 2.74% 0.61% 8.20% 7.39% 7.80 0.64% 0.86% 52.63% 1.75% 59.82% 67.48% 2.67% 6.21% OCB 2017 2.96% 0.97% 13.30% 7.28% 7.93 0.63% 0.54% 50.46% 1.79% 56.68% 63.11% 3.52% 6.81% OCB 2018 3.62% 1.76% 20.02% 8.80% 8.00 0.53% 1.69% 35.80% 2.29% 55.77% 60.38% 3.54% 7.08% OCB 2019 3.62% 2.19% 22.44% 9.74% 8.07 0.50% 1.33% 36.31% 1.84% 59.55% 58.52% 2.80% 7.02% OCB 2020 3.48% 2.32% 20.27% 11.43% 8.18 0.36% 1.43% 28.86% 1.42% 57.89% 57.15% 3.23% 2.91% PGB 2010 3.52% 1.34% 10.07% 13.27% 7.21 0.92% 0.82% 38.80% 1.42% 65.83% 65.36% 9.21% 6.42% PGB 2011 6.78% 2.54% 17.22% 14.74% 7.25 1.52% 1.02% 32.86% 2.06% 67.84% 62.14% 18.68% 6.24% PGB 2012 5.38% 1.25% 7.51% 16.59% 7.28 1.35% 2.10% 45.52% 8.44% 69.97% 64.06% 9.09% 5.25% PGB 2013 2.29% 0.15% 1.19% 12.90% 7.40 0.84% 1.25% 65.31% 2.98% 54.99% 55.72% 6.59% 5.42% PGB 2014 2.69% 0.51% 3.92% 12.95% 7.41 0.77% 0.72% 59.55% 2.48% 55.60% 69.84% 4.08% 5.98% PGB 2015 2.82% 0.17% 1.21% 13.66% 7.39 0.76% 1.34% 60.34% 2.75% 63.63% 68.33% 0.63% 6.68% PGB 2016 2.97% 0.49% 3.51% 14.08% 7.39 0.67% 1.17% 51.77% 2.47% 69.93% 73.71% 2.67% 6.21% PGB 2017 2.84% 0.22% 1.81% 12.15% 7.47 0.63% 2.17% 45.01% 3.23% 72.34% 78.09% 3.52% 6.81% PGB 2018 3.04% 0.42% 3.44% 12.33% 7.48 0.59% 2.38% 41.35% 3.06% 73.00% 78.08% 3.54% 7.08% PGB 2019 2.88% 0.24% 1.98% 11.91% 7.50 0.54% 2.33% 39.23% 3.16% 74.24% 80.41% 2.80% 7.02% PGB 2020 2.64% 0.47% 4.31% 10.87% 7.56 0.52% 1.10% 53.99% 2.44% 70.39% 79.49% 3.23% 2.91% PVB 2013 0.10% 0.03% 0.29% 9.63% 8.00 0.63% 0.02% 50.29% 4.42% 40.09% 48.86% 6.59% 5.42% PVB 2014 0.61% 0.15% 1.66% 9.30% 8.03 0.56% 0.11% 50.28% 2.67% 38.75% 65.52% 4.08% 5.98% PVB 2015 0.53% 0.07% 0.72% 10.22% 7.99 0.81% 0.01% 70.91% 1.85% 40.14% 65.64% 0.63% 6.68% PVB 2016 0.96% 0.04% 0.40% 8.80% 8.06 0.67% 0.19% 79.35% 1.38% 43.30% 73.18% 2.67% 6.21% 135 PVB 2017 1.11% 0.07% 0.90% 8.01% 8.10 0.52% 0.16% 72.31% 1.75% 46.03% 70.09% 3.52% 6.81% PVB 2018 0.90% 0.06% 0.85% 7.27% 8.15 0.47% 0.33% 75.62% 2.48% 49.06% 73.23% 3.54% 7.08% SCB 2010 0.32% 0.15% 2.65% 5.79% 8.26 0.38% 1.48% 36.34% 53.85% 80.07% 9.21% 6.42% SCB 2011 0.96% 0.21% 2.64% 7.83% 8.16 1.52% 0.31% 34.09% 7.25% 44.48% 40.49% 18.68% 6.24% SCB 2012 3.08% 0.04% 0.56% 7.62% 8.17 1.74% 1.01% 52.22% 7.23% 58.42% 53.08% 9.09% 5.25% SCB 2013 1.59% 0.02% 0.32% 7.24% 8.26 1.64% 0.78% 69.13% 1.63% 48.81% 81.26% 6.59% 5.42% SCB 2014 1.06% 0.04% 0.68% 5.44% 8.38 1.31% 0.99% 52.43% 0.49% 55.02% 81.95% 4.08% 5.98% SCB 2015 1.76% 0.03% 0.52% 4.96% 8.49 1.27% 1.35% 48.20% 0.34% 54.32% 82.17% 0.63% 6.68% SCB 2016 0.98% 0.02% 0.51% 4.27% 8.56 1.13% 0.67% 53.28% 0.68% 60.85% 81.61% 2.67% 6.21% SCB 2017 0.51% 0.03% 0.80% 3.50% 8.65 0.90% 0.34% 65.63% 0.45% 59.49% 78.01% 3.52% 6.81% SCB 2018 0.74% 0.03% 1.06% 3.26% 8.71 0.76% 0.72% 51.95% 0.42% 58.78% 75.63% 3.54% 7.08% SCB 2019 0.94% 0.03% 1.02% 2.93% 8.75 0.68% 0.72% 53.66% 0.49% 58.27% 77.18% 2.80% 7.02% SEA 2010 2.13% 1.14% 10.95% 10.40% 7.74 0.37% 0.77% 30.23% 38.75% 44.88% 9.21% 6.42% SEA 2011 0.90% 0.12% 2.28% 5.48% 8.00 0.32% 0.35% 55.13% 2.75% 19.10% 33.98% 18.68% 6.24% SEA 2012 1.72% 0.07% 0.94% 7.44% 7.88 0.41% 0.93% 77.51% 2.97% 21.62% 41.89% 9.09% 5.25% SEA 2013 1.21% 0.19% 2.65% 7.17% 7.90 0.36% 0.36% 72.05% 2.84% 25.57% 45.31% 6.59% 5.42% SEA 2014 0.98% 0.11% 1.53% 7.09% 7.90 0.36% 0.64% 69.13% 1.60% 39.37% 56.16% 4.08% 5.98% SEA 2015 1.47% 0.11% 1.59% 6.81% 7.93 0.41% 0.22% 76.58% 1.43% 50.07% 67.27% 0.63% 6.68% 11.40 % 21.40 136 % SEA 2016 1.92% 0.11% 1.99% 5.69% 8.01 0.34% 1.11% 54.98% 1.72% 56.54% 69.78% 2.67% 6.21% SEA 2017 1.68% 0.24% 4.94% 4.94% 8.10 0.30% 0.78% 54.11% 1.03% 55.93% 64.03% 3.52% 6.81% SEA 2018 1.77% 0.35% 5.94% 5.91% 8.15 0.55% 0.67% 55.61% 1.52% 59.09% 60.04% 3.54% 7.08% SEA 2019 1.95% 0.70% 10.05% 6.94% 8.20 0.49% 1.88% 35.88% 2.31% 61.93% 60.82% 2.80% 7.02% SEA 2020 1.78% 0.75% 9.95% 7.59% 8.26 0.48% 0.63% 42.24% 0.0168 59.80% 62.86% 3.23% 2.91% SGB 2010 3.75% 4.73% 22.55% 20.97% 7.23 3.33% 0.63% 22.43% 1.91% 61.32% 53.93% 9.21% 6.42% SGB 2011 6.06% 1.98% 9.20% 21.51% 7.19 5.26% 1.83% 33.24% 4.75% 71.24% 58.11% 18.68% 6.24% SGB 2012 7.28% 2.00% 8.40% 23.83% 7.17 5.93% 2.56% 35.16% 2.93% 72.39% 70.37% 9.09% 5.25% SGB 2013 5.21% 1.18% 4.94% 23.84% 7.17 5.80% 1.48% 47.18% 2.24% 71.97% 73.57% 6.59% 5.42% SGB 2014 4.79% 1.14% 5.19% 22.03% 7.20 6.02% 2.19% 38.00% 2.08% 70.40% 74.85% 4.08% 5.98% SGB 2015 3.89% 0.24% 1.27% 19.11% 7.25 5.34% 2.33% 51.09% 1.88% 64.91% 74.04% 0.63% 6.68% SGB 2016 3.66% 0.73% 3.97% 18.45% 7.28 5.04% 1.09% 54.87% 2.63% 65.26% 74.39% 2.67% 6.21% SGB 2017 3.35% 0.26% 1.60% 16.03% 7.33 5.07% 2.01% 49.67% 2.97% 65.61% 69.65% 3.52% 6.81% SGB 2018 3.53% 0.20% 1.21% 16.86% 7.31 5.56% 2.53% 50.81% 2.19% 66.55% 72.05% 3.54% 7.08% SGB 2019 3.47% 0.63% 4.06% 15.61% 7.36 5.23% 1.37% 53.82% 1.87% 63.31% 68.68% 2.80% 7.02% SGB 2020 2.65% 0.41% 2.68% 15.12% 7.38 4.82% 1.04% 60.14% 1.41% 64.03% 76.11% 3.23% 2.91% SHB 2010 2.68% 0.97% 11.82% 8.20% 7.71 2.99% 0.62% 44.67% 1.40% 47.23% 50.23% 9.21% 6.42% SHB 2011 3.01% 1.06% 12.91% 8.21% 7.85 3.18% 0.35% 49.06% 2.23% 40.58% 49.00% 18.68% 6.24% SHB 2012 1.84% 1.45% 17.74% 8.16% 8.07 3.54% -1.01% 55.72% 8.83% 47.79% 66.59% 9.09% 5.25% SHB 2013 1.66% 0.59% 8.20% 7.21% 8.16 2.89% -0.65% 74.46% 4.13% 52.44% 63.19% 6.59% 5.42% 137 SHB 2014 1.82% 0.47% 7.54% 6.20% 8.23 2.43% 0.60% 45.88% 2.03% 60.96% 72.90% 4.08% 5.98% SHB 2015 2.03% 0.39% 7.06% 5.50% 8.31 1.98% 0.65% 49.14% 1.72% 63.51% 72.70% 0.63% 6.68% SHB 2016 1.96% 0.39% 6.90% 5.66% 8.37 1.69% 0.81% 46.27% 1.88% 68.64% 71.20% 2.67% 6.21% SHB 2017 1.89% 0.54% 10.48% 5.14% 8.46 1.38% 0.83% 42.88% 2.33% 68.33% 68.14% 3.52% 6.81% SHB 2018 1.88% 0.52% 10.24% 5.05% 8.51 1.48% 0.67% 46.23% 2.40% 66.19% 69.67% 3.54% 7.08% SHB 2019 2.39% 0.66% 13.06% 5.07% 8.56 1.32% 0.92% 40.68% 1.91% 71.74% 70.97% 2.80% 7.02% SHB 2020 2.63% 0.63% 10.85% 5.82% 8.62 1.18% 1.54% 34.29% 1.83% 73.23% 73.56% 3.23% 2.91% STB 2010 2.97% 1.25% 13.00% 9.64% 8.18 2.06% 0.39% 33.92% 0.52% 53.59% 51.41% 9.21% 6.42% STB 2011 4.97% 1.41% 13.72% 10.28% 8.15 2.62% 0.50% 44.87% 0.56% 56.36% 53.08% 18.68% 6.24% STB 2012 5.04% 0.66% 7.32% 9.01% 8.18 3.43% 1.40% 51.78% 1.97% 62.38% 70.64% 9.09% 5.25% STB 2013 4.64% 1.38% 13.06% 10.57% 8.21 3.29% 0.40% 50.10% 1.44% 67.68% 81.58% 6.59% 5.42% STB 2014 3.90% 1.16% 12.22% 9.52% 8.28 2.74% 0.76% 50.67% 1.19% 66.73% 85.91% 4.08% 5.98% STB 2015 2.81% 0.22% 2.93% 7.56% 8.47 2.73% 1.23% 57.41% 5.85% 62.89% 89.37% 0.63% 6.68% STB 2016 1.47% 0.03% 0.40% 6.68% 8.52 2.39% 0.35% 78.60% 6.68% 59.16% 87.84% 2.67% 6.21% STB 2017 1.74% 0.32% 5.08% 6.31% 8.57 2.20% 0.37% 66.92% 4.59% 59.76% 86.81% 3.52% 6.81% STB 2018 2.22% 0.44% 7.27% 6.07% 8.61 2.03% 0.63% 61.30% 2.13% 62.33% 86.05% 3.54% 7.08% STB 2019 2.33% 0.54% 9.18% 5.90% 8.66 1.83% 0.74% 57.27% 1.94% 64.39% 88.37% 2.80% 7.02% TCB 2010 2.39% 1.38% 22.08% 6.25% 8.18 0.67% 0.74% 29.91% 2.29% 34.81% 53.60% 9.21% 6.42% TCB 2011 3.33% 1.75% 25.20% 6.93% 8.26 0.66% 0.55% 26.41% 2.83% 34.65% 49.10% 18.68% 6.24% TCB 2012 3.38% 0.43% 5.76% 7.39% 8.26 0.64% 2.16% 48.32% 2.70% 37.31% 61.95% 9.09% 5.25% 138 TCB 2013 3.14% 0.41% 4.73% 8.76% 8.20 0.65% 2.05% 51.56% 3.65% 43.48% 75.51% 6.59% 5.42% TCB 2014 3.67% 0.62% 7.22% 8.52% 8.25 0.59% 2.85% 39.77% 2.38% 45.11% 74.87% 4.08% 5.98% TCB 2015 4.11% 0.80% 9.29% 8.57% 8.28 0.46% 3.28% 33.88% 1.67% 57.53% 74.09% 0.63% 6.68% TCB 2016 3.71% 1.34% 16.08% 8.32% 8.37 0.67% 2.59% 32.28% 1.58% 59.96% 73.69% 2.67% 6.21% TCB 2017 3.55% 2.39% 23.93% 10.00% 8.43 0.56% 2.27% 27.16% 1.61% 59.01% 63.47% 3.52% 6.81% TCB 2018 3.74% 2.64% 16.36% 16.13% 8.51 0.54% 1.17% 28.12% 1.75% 49.08% 62.75% 3.54% 7.08% TCB 2019 4.01% 2.67% 16.47% 16.18% 8.58 0.84% 0.40% 28.88% 1.33% 59.39% 60.28% 2.80% 7.02% TCB 2020 4.60% 2.86% 16.86% 16.97% 8.64 1.05% 0.95% 26.90% 0.47% 62.63% 63.12% 3.23% 2.91% TPB 2010 1.36% 0.77% 5.06% 15.31% 7.32 0.54% 0.95% 39.49% 0.02% 24.68% 36.18% 9.21% 6.42% TPB 2012 1.35% 0.47% 6.96% 6.72% 7.40 0.29% 1.21% 55.47% 3.66% 39.62% 25.08% 9.09% 5.25% TPB 2013 1.97% 1.19% 10.31% 11.53% 7.51 0.21% 0.72% 46.45% 1.97% 36.80% 44.66% 6.59% 5.42% TPB 2014 1.97% 1.04% 12.65% 8.23% 7.71 0.15% -0.25% 54.44% 1.01% 38.15% 42.01% 4.08% 5.98% TPB 2015 1.97% 0.74% 11.71% 6.30% 7.88 0.18% 0.48% 47.98% 0.66% 36.71% 51.83% 0.63% 6.68% TPB 2016 2.09% 0.53% 9.95% 5.37% 8.02 0.14% 0.59% 55.98% 0.71% 43.71% 52.07% 2.67% 6.21% TPB 2017 2.80% 0.78% 14.43% 5.38% 8.09 0.20% 0.74% 52.03% 1.09% 50.55% 56.64% 3.52% 6.81% TPB 2018 3.58% 1.33% 17.00% 7.80% 8.13 0.22% 0.68% 48.87% 1.12% 56.03% 55.91% 3.54% 7.08% TPB 2019 3.77% 1.88% 23.66% 7.95% 8.22 0.35% 1.37% 36.37% 1.28% 57.43% 56.22% 2.80% 7.02% TPB 2020 4.05% 1.70% 20.96% 8.12% 8.31 0.34% 1.51% 36.90% 1.17% 57.24% 56.18% 3.23% 2.91% VAB 2010 2.73% 1.11% 7.85% 14.10% 7.38 1.46% 0.59% 32.48% 2.52% 54.36% 39.01% 9.21% 6.42% VAB 2012 1.76% 0.67% 4.64% 14.36% 7.39 1.37% 0.05% 49.51% 4.65% 51.58% 60.95% 9.09% 5.25% 139 VAB 2013 2.06% 0.22% 1.68% 13.27% 7.43 0.83% 0.21% 40.83% 3.68% 52.51% 69.63% 6.59% 5.42% VAB 2014 1.31% 0.13% 1.31% 10.22% 7.55 0.64% 0.08% 43.25% 2.33% 43.93% 55.58% 4.08% 5.98% VAB 2015 3.01% 0.20% 2.09% 9.36% 7.62 0.67% 1.60% 28.02% 2.26% 47.85% 58.36% 0.63% 6.68% VAB 2016 1.49% 0.16% 2.47% 6.54% 7.79 0.40% 1.21% 36.89% 2.14% 48.82% 52.37% 2.67% 6.21% VAB 2017 1.93% 0.15% 2.40% 6.39% 7.81 0.34% 0.91% 41.25% 2.68% 52.61% 53.39% 3.52% 6.81% VAB 2018 1.69% 0.17% 2.80% 5.94% 7.85 0.27% 1.24% 46.77% 1.37% 52.63% 58.03% 3.54% 7.08% VAB 2019 1.44% 0.27% 4.67% 5.81% 7.88 0.26% 0.87% 46.72% 1.93% 55.15% 62.04% 2.80% 7.02% VBB 2011 4.63% 2.00% 11.80% 16.91% 7.26 1.81% 0.70% 46.63% 5.62% 44.73% 28.81% 18.68% 6.24% VBB 2012 4.51% 0.10% 0.54% 18.35% 7.23 5.41% 0.05% 44.57% 3.01% 51.16% 47.39% 9.09% 5.25% VBB 2016 1.34% 0.18% 2.19% 8.36% 7.56 1.66% 0.29% 82.45% 1.67% 71.08% 82.24% 2.67% 6.21% VBB 2017 1.98% 0.63% 7.88% 8.02% 7.62 1.41% 0.18% 79.44% 1.35% 68.55% 75.37% 3.52% 6.81% VBB 2018 2.20% 0.62% 7.14% 8.72% 7.71 1.12% 0.23% 63.72% 1.25% 68.10% 77.13% 3.54% 7.08% VBB 2019 1.97% 0.70% 9.68% 7.28% 7.84 1.14% 0.13% 61.37% 1.32% 58.87% 71.74% 2.80% 7.02% VBB 2020 0.66% 0.33% 5.68% 5.77% 7.96 0.93% -0.11% 37.27% 1.60% 48.45% 70.54% 3.23% 2.91% 2010 2.43% 0.69% 2.72% 25.27% 6.92 1.51% 0.51% 52.43% 0.10% 44.09% 38.68% 9.21% 6.42% 2011 2.81% 1.59% 8.18% 19.45% 7.23 1.02% 0.24% 34.55% 4.57% 25.54% 30.83% 18.68% 6.24% 2012 2.52% 0.99% 6.25% 15.80% 7.32 0.97% 0.54% 31.28% 5.94% 37.29% 49.82% 9.09% 5.25% VCA/ CAB VCA/ CAB VCA/ CAB 140 VCA/ 2013 2.31% 0.45% 3.20% 13.96% 7.36 1.75% 0.56% 21.36% 3.91% 42.97% 52.22% 6.59% 5.42% 2014 2.27% 0.63% 4.89% 12.85% 7.41 1.45% 0.31% 29.65% 1.50% 49.84% 56.97% 4.08% 5.98% 2015 1.60% 0.18% 1.61% 11.42% 7.46 1.30% 0.34% 72.51% 1.39% 54.24% 64.18% 0.63% 6.68% 2017 1.81% 0.08% 1.00% 8.38% 7.60 1.72% 0.36% 79.15% 3.78% 62.12% 67.72% 3.52% 6.81% 2018 1.88% 0.20% 2.74% 7.39% 7.67 1.65% 0.43% 71.12% 3.98% 63.05% 71.95% 3.54% 7.08% 2019 1.96% 0.24% 3.38% 7.21% 7.71 2.30% 0.33% 73.55% 5.22% 64.74% 67.98% 2.80% 7.02% 2020 1.95% 0.26% 4.13% 6.37% 7.79 2.06% 0.88% 59.00% 2.77% 64.26% 67.71% 3.23% 2.91% VCB 2010 2.77% 1.38% 20.37% 6.76% 8.49 0.52% 0.88% 37.34% 2.83% 55.65% 66.59% 9.21% 6.42% VCB 2011 3.52% 1.15% 14.65% 7.85% 8.56 0.71% 1.70% 33.17% 2.03% 55.65% 61.90% 18.68% 6.24% VCB 2012 2.74% 1.07% 10.60% 10.06% 8.62 0.88% 1.40% 37.41% 2.40% 56.91% 68.85% 9.09% 5.25% VCB 2013 2.38% 0.93% 10.29% 9.07% 8.67 0.87% 1.31% 37.33% 2.73% 57.11% 70.84% 6.59% 5.42% VCB 2014 2.11% 0.79% 10.55% 7.53% 8.76 0.77% 1.45% 36.37% 2.31% 54.81% 73.17% 4.08% 5.98% VCB 2015 2.37% 0.79% 11.80% 6.70% 8.83 0.75% 1.60% 35.92% 1.79% 56.13% 74.22% 0.63% 6.68% CAB VCA/ CAB VCA/ CAB VCA/ CAB VCA/ CAB VCA/ CAB VCA/ CAB 141 VCB 2016 2.43% 0.87% 14.24% 6.10% 8.90 0.72% 1.42% 36.10% 1.46% 57.46% 74.94% 2.67% 6.21% VCB 2017 2.18% 0.88% 17.33% 5.08% 9.02 0.60% 1.16% 36.49% 1.11% 51.71% 68.44% 3.52% 6.81% VCB 2018 2.74% 1.36% 23.52% 5.79% 9.03 0.61% 1.19% 31.52% 0.97% 57.87% 74.67% 3.54% 7.08% VCB 2019 2.93% 1.52% 22.88% 6.62% 9.09 0.55% 0.94% 31.15% 0.78% 59.23% 75.93% 2.80% 7.02% VCB 2020 2.83% 1.39% 19.63% 7.09% 9.12 0.64% 1.22% 29.82% 0.62% 61.87% 77.82% 3.23% 2.91% VIB 2010 2.41% 0.84% 12.00% 7.03% 7.97 0.24% 0.71% 44.98% 1.59% 43.97% 47.95% 9.21% 6.42% VIB 2011 4.02% 0.66% 7.83% 8.42% 7.99 0.30% 2.27% 40.67% 2.69% 44.16% 45.54% 18.68% 6.24% VIB 2012 5.28% 0.80% 6.17% 12.97% 7.81 0.62% 2.23% 49.32% 2.62% 51.23% 60.07% 9.09% 5.25% VIB 2013 2.97% 0.07% 0.63% 10.38% 7.89 0.47% 2.54% 57.84% 2.82% 44.64% 56.25% 6.59% 5.42% VIB 2014 3.09% 0.65% 6.15% 10.54% 7.91 0.45% 3.19% 44.63% 2.51% 46.23% 60.81% 4.08% 5.98% VIB 2015 2.88% 0.62% 6.05% 10.21% 7.93 0.47% 1.08% 56.34% 2.07% 55.78% 63.22% 0.63% 6.68% VIB 2016 2.60% 0.54% 6.43% 8.36% 8.02 0.36% 1.02% 58.71% 2.58% 56.61% 56.70% 2.67% 6.21% VIB 2017 2.92% 0.91% 12.79% 7.14% 8.09 0.30% 0.44% 53.37% 2.49% 64.08% 55.52% 3.52% 6.81% VIB 2018 3.58% 1.58% 20.57% 7.67% 8.14 0.25% 0.69% 41.46% 2.40% 68.45% 60.98% 3.54% 7.08% VIB 2019 3.47% 1.77% 24.32% 7.28% 8.27 0.20% 0.49% 39.16% 1.68% 69.32% 66.31% 2.80% 7.02% VIB 2020 3.57% 1.90% 25.83% 7.35% 8.39 0.17% 0.56% 37.72% 1.46% 68.57% 61.45% 3.23% 2.91% VPB 2010 2.11% 0.84% 9.67% 8.70% 7.78 0.59% 0.40% 35.53% 1.20% 41.96% 40.08% 9.21% 6.42% VPB 2011 2.79% 0.97% 13.34% 7.24% 7.92 0.45% 0.52% 43.54% 1.82% 34.86% 35.51% 18.68% 6.24% VPB 2012 3.36% 0.63% 9.69% 6.47% 8.01 0.42% 1.09% 48.83% 2.72% 35.61% 58.02% 9.09% 5.25% VPB 2013 3.96% 0.84% 13.17% 6.37% 8.08 0.35% 1.73% 52.52% 2.81% 42.77% 69.14% 6.59% 5.42% 142 VPB 2014 3.60% 0.77% 13.96% 5.50% 8.21 0.37% 1.27% 52.83% 2.02% 47.33% 66.38% 4.08% 5.98% VPB 2015 5.69% 1.24% 17.89% 6.91% 8.29 0.26% 2.85% 43.28% 2.69% 59.35% 67.19% 0.63% 6.68% VPB 2016 7.11% 1.72% 22.91% 7.51% 8.36 0.27% 3.73% 35.17% 2.91% 62.33% 54.11% 2.67% 6.21% VPB 2017 7.97% 2.32% 21.69% 10.69% 8.44 0.29% 4.46% 32.22% 3.39% 64.63% 48.08% 3.52% 6.81% VPB 2018 8.18% 2.28% 21.17% 10.75% 8.51 0.61% 5.15% 31.15% 3.21% 67.55% 52.85% 3.54% 7.08% VPB 2019 8.84% 2.19% 19.57% 11.19% 8.58 0.51% 5.41% 30.91% 2.95% 67.10% 56.72% 2.80% 7.02% VPB 2020 8.32% 2.49% 19.73% 12.60% 8.62 0.44% 5.11% 26.28% 2.90% 68.33% 55.71% 3.23% 2.91% 143 ... OVERVIEW OF FINANCIAL PERFORMANCE OF JOINT STOCK COMMERCIAL BANKS 2.1.1 Definition of financial performance 2.1.2 The indicators reflect the financial performance of commercial banks. .. are the determining factors affecting the financial performance of commercial banks in Vietnam?  What model and method to measure the financial performance of commercial banks in Vietnam?  How... 2.1.3 Indicators reflecting the financial performance of joint stock commercial banks according to the safety framework CAMEL 10 2.2 FACTORS AFFECTING THE FINANCIAL PERFORMANCE OF COMMERCIAL BANKS

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