On the morning of April 14, Vietnam Export Import Commercial Joint Stock Bank (Eximbank, HoSE: EIB) held the 2023 Annual General Meeting of Shareholders (AGM) to approve the annual business plan.
Providing information to shareholders, Eximbank General Director Tran Tan Loc said that the bank's pre-tax profit in the first quarter of 2023 reached over VND900 billion, an increase of 16% over the same period last year. Therefore, Eximbank has a basis to set a profit plan for 2023 to increase by nearly 35% over the previous year. "The pre-tax profit plan for 2023 of VND5,000 billion has been carefully calculated, we have predicted the difficult economic situation and have an implementation plan," he said.
Previously, in 2022, Eximbank's pre-tax profit reached VND3,709 billion, up 207.7% compared to 2021. Last year, the bank reduced its bond investment portfolio, prioritizing loans for essential consumption and production and business. This helped the bank increase business efficiency, contributing to liquidity safety. The loan portfolio structure focuses on the small and medium-sized enterprise customer segment; individual customers; loans for production and business needs.
At the congress, a notable issue raised by shareholder Nguyen Van Do was the plan to build Eximbank headquarters at 7 Le Thi Hong Gam Street (District 1).
This is a "golden land" with a prime location in the center of Ho Chi Minh City with an area of over 3,500 m2. Mr. Do said that the decision to demolish the old headquarters at Le Thi Hong Gam by the former leaders of Eximbank was very regrettable. After the demolition, the land was left vacant, with no new construction since 2012.
Meanwhile, the bank spends 31 billion VND per year to rent its current headquarters (72 Le Thanh Ton, District 1).
“Our shareholders request the Board of Directors to consider a plan to build a sufficient headquarters, instead of more than 40 floors as previously intended. The headquarters only needs to meet the function, it can be completed in 1 year, not doing it soon will cause more damage,” said Mr. Do.
Responding to shareholders’ comments, Ms. Luong Thi Cam Tu, Chairwoman of Eximbank’s Board of Directors, said that the plan to build Eximbank’s headquarters at 7 Le Thi Hong Gam Street already exists but is facing legal and licensing issues. Many agencies, ministries and sectors have met and discussed; the plan is still awaiting approval from Ho Chi Minh City leaders.
At the same time, the new headquarters of Eximbank must be redesigned to suit the function of the building. The previous model, including headquarters, offices, hotels, apartments, was not in accordance with regulations. Therefore, it is necessary to update the design to suit the function, Eximbank headquarters only serves banking-related activities, and is used as an office.
According to Ms. Tu, Eximbank's Board of Directors sees the waste of having land for headquarters but not using it. However, the bank cannot arbitrarily build without a full license. In the coming time, the bank's Board of Directors will implement this issue more drastically, this is a key task for 2023.
Also at the congress, based on the resignation applications of Mr. Nguyen Hieu and Mr. Nguyen Thanh Hung as members of the Board of Directors on April 5, the Board of Directors submitted to the General Meeting of Shareholders the dismissal of the position of member of the Board of Directors. At the same time, the congress also elected an additional member of the Board of Supervisors for the 2020-2025 term according to the list of candidates approved by the State Bank. Ms. Doan Ho Lan is the additional candidate elected as a non-professional member of the Board of Supervisors.
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