Vietnam Joint Stock Commercial Bank for Industry and Trade recently organized the online "2024 Investor and Analyst Conference" on February 29.
The conference had the presence of the Board of Directors and representatives of key departments, divisions and units at VietinBank headquarters. On the guest side, nearly 80 analysts came from more than 60 organizations, representing investment funds, securities companies, and fund management companies; shareholders of VietinBank; Potential investors interested in the opportunity to invest in CTG shares participate. At the event, VietinBank representatives shared the results achieved in 2023 and the development plan for 2024.
Business growth increased
In 2023, VietinBank will synchronously deploy business solutions, promote innovation, transform growth models, quickly shift income structure, and adopt a customer-centric strategy. At the same time, the bank also successfully increased its charter capital to more than 53.000 billion VND through issuing shares to pay dividends from 2020 profits, actively contributing to creating resources for business growth. .
By the end of December 31, 12, VietinBank's business targets all met the plan assigned by the State Bank and the General Meeting of Shareholders. Accordingly, total assets increased by 2023% compared to the end of 12,4 and this is the first year total assets reached more than 2022 million billion VND. Outstanding loans grow by 2% compared to the end of 15,6, among the highest growth in the entire banking industry. Customer deposits increased by 2022% compared to the end of 12,9. In a difficult market context, VietinBank's CASA still recovered at the end of 2022, increasing by 2023% compared to the end of 27,2; CASA proportion reaches 2022% (up 22,6% compared to 2,5).
Board of Directors member Pham Thi Thanh Hoai (seated 2nd, from left) chairs the "2024 Investor and Analyst Conference". Photo: VietinBank
Total operating income in 2023 reaches VND 70.700 billion, an increase of 10,2% compared to 2022. Non-interest income contributes 26,8% of total operating income with the main motivation from core operations including guarantees , trade finance, foreign currency trading... VietinBank's CIR ratio in 2023 reaches 28,9%, lower than 29,9% in 2022. Accordingly, net profit from business activities before expenses Risk provision fees in 2023 reach VND 50.200 billion, an increase of 11,8% compared to 2022 and the highest ever.
The ratio of bad debts and outstanding loans in the fourth quarter of 2023 is at 1,13%, lower than the bad debt ratio of the entire industry and is the only bank in the group of leading commercial banks to reduce the bad debt ratio compared to 2022. The bad debt coverage ratio in the fourth quarter of 2023 is 167,2%, continuing to remain at a high level. Pre-tax profit in 2023 will reach 25.100 billion VND, an increase of 18,8% compared to 2022, completing the plan target assigned by the general meeting of shareholders. NIM reached 2,91%, ROA and ROE reached 1,31% and 17,08%, respectively.
Accompanying the government and side by side with businesses for sustainable development, the bank has built a Sustainable Finance framework according to international practices, providing specific instructions for financing and managing accounts. Support for a portfolio of green and social projects.
VietinBank signed a cooperation agreement with the Ministry of Natural Resources and Environment, signed an agreement with MUFG to mobilize up to one billion USD at COP28... As of December 31, 12, the total outstanding green credit debt of VietinBank reached VND 2023 billion with nearly 47.465 customers (accounting for 1.000% of total outstanding credit loans).
Comprehensive digital transformation
In recent times, VietinBank's digital banking platforms for individual and corporate customers have continuously recorded positive results. VietinBank iPay Mobile application for individual customers continues to attract nearly 7,8 million users, reaching 1.180 million transactions. The proportion of transactions through iPay channel reached 91,6% of total individual customer transactions. For business customers, the eFAST application attracts 107.000 businesses to use regularly, reaching 32,5 million transactions. The proportion of transactions via eFAST channel increased to 82%.
In 2023, VietinBank selected the world's leading consulting unit to accompany the bank in building and implementing a digital transformation strategy for the period 2023 - 2025, vision 2030 with 4 pillars of digitization - data. materials – technology and organization. The digital transformation strategy is implemented with the expectation of creating competitiveness for the bank and providing optimal experience for customers.
Entering a new phase, with experience accumulated over a 35-year journey and confidence in the ability to overcome difficulties and the policy of safe operations - effective business - sustainable development, VietinBank will continue to step firmly on the path. development path to reach new heights in the banking and financial market.
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