VietABank General Meeting of Shareholders: Charter capital increased to 11,582 billion VND

VietABank Annual General Meeting of Shareholders 2025

VietABank exceeded the assigned 2024 plan target.

At the end of 2024, VietABank's pre-tax profit reached VND 1,086 billion, VietABank's total assets reached VND 119,832 billion, completing 102% of the yearly plan; Customer deposits and issuance of valuable papers reached VND 92,434 billion, reaching 100% of the plan; Outstanding credit reached VND 79,916 billion; Pre-tax profit reached VND 1,086 billion, reaching 103% of the plan. The bad debt ratio decreased to 1.37% compared to 1.59% at the end of 2023.

VietABank's total assets and credit in 2024 have grown well according to the orientation. VietABank has focused on diversifying customers, optimizing the credit portfolio structure, continuing to effectively restructure the capital structure, increasing CASA and low-interest capital, causing capital mobilization costs to decrease by VND 2,080 billion, down 29.54% over the same period. Therefore, net interest income in 2024 increased by VND 518 billion, up 28.63% over the same period last year.

Income from service activities improved, increasing by 52 billion VND, equivalent to an increase of 67.95%, contributing positively to increasing the bank's profits, with the improvement and diversification of products provided to all customer segments of VietABank.

Credit risk provision expenses in 2024 decreased by VND 132 billion, down 85.7% compared to the same period last year due to debt settlement and urging customers to pay debts being carried out continuously and effectively, and the financial situation of borrowers continuing to improve.

Continuing growth momentum, reaching out strongly in 2025 with explosive plan targets

At the congress, the bank's Board of Directors presented to shareholders the 2025 business plan with pre-tax profit expected to reach VND 1,306 billion, an increase of more than 20% compared to the 2024 plan. In addition, VietABank's General Meeting of Shareholders approved important development targets such as: Total assets reaching VND 128,381 billion, an increase of VND 8,999 billion compared to 2024; Customer deposits and issuance of valuable papers reaching VND 101,007 billion, an increase of VND 8,573 billion compared to 2024; NPL ratio controlled below 3%, in compliance with the regulations of the State Bank; target credit balance increase of 10.3% to VND 88,110 billion, depending on the approval of the State Bank from time to time.

VietABank 2025 Annual General Meeting of Shareholders elected 2 additional members of the Board of Directors, Mr. Nguyen Van Trong and Mr. Thai Nguyen Hoang Nha.

Electing 02 additional members to the Board of Directors to complete the bank's senior management apparatus

The Congress also elected 02 additional members of the Board of Directors for the 2023 - 2028 term. Specifically, the Board of Directors for the 2023 - 2028 term of VAB consists of 7 members including: Mr. Phuong Thanh Long, Mr. Phan Van Toi, Mr. Nguyen Hong Hai, Mr. Le Hong Phuong, Mr. Tran Tien Dung, Mr. Thai Nguyen Hoang Nha and Mr. Nguyen Van Trong.

This addition is to suit the scale and management needs at VietABank in the new period and at the same time affirm VietABank's compliance with the provisions of the Law on Credit Institutions 2024.

Increased charter capital to 11,582 billion VND

In order to consolidate financial resources, increase medium and long-term capital to expand the network and develop business, VietABank's General Meeting of Shareholders approved the plan to increase charter capital by VND 6,182 billion, an increase equivalent to 114.5%. Accordingly, VietABank plans to increase capital through 3 forms: Issuing more than 285 million shares to increase equity capital from equity and remaining undistributed profits with an implementation rate of 52.8%; Issuing 20 million shares to employees (ESOP) with a rate of 3.7%; Issuing 313 million shares for sale to existing shareholders with an implementation rate of 100:58. After completing the issuance of shares through the above 3 forms, VietABank's charter capital is expected to reach VND 11,582 billion.

In addition, the VietABank General Meeting of Shareholders continues to assign the Board of Directors (BOD) to carry out and complete the procedures to list the bank's shares on the HOSE in parallel with the listing of bonds issued by VietABank to the public in the period from the date of completion of the 2025 Annual General Meeting of Shareholders to the date of completion of the 2026 General Meeting of Shareholders.

The plans and orientations approved by the General Meeting of Shareholders will be the basis for VietABank to continue to develop sustainably, aiming to become one of the most prestigious and productive banks in Vietnam.

Source: https://thoibaonganhang.vn/dai-hoi-dong-co-dong-vietabank-tang-von-dieu-le-dat-11582-ty-dong-163419.html