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| With the goal of improving financial capacity, increasing operating capital scale and competitiveness in the market, BVBank submitted to the congress a plan to increase charter capital and was approved. |
Complete the plan with growth metrics.
At the General Meeting of Shareholders, the Board of Directors and the Executive Board of BVBank reported the results achieved in the 2024 fiscal year. Accordingly, with a retail orientation and appropriate strategy, flexible in management and operation in response to market developments but still ensuring effective control of operations, BVBank has maintained stable growth momentum, completing the plan set for the whole year 2024.
Specifically, total assets reached more than VND 103,500 billion, up 18%. Outstanding loans to customers reached more than VND 68,000 billion, up about 18% compared to 2023. Total mobilization scale reached VND 95,400 billion, up 19% over the previous year, of which customer deposits reached VND 75,000 billion, up 12%. Total number of customers increased by nearly 30% compared to the beginning of 2024, reaching more than 2.3 million customers. Pre-tax profit recorded at VND 390 billion. The ratio of bad debt to total outstanding debt as prescribed in Circular No. 31/2024/TT-NHNN is 2.69%.
The effectiveness of retail operations is clearly demonstrated through the shift in loan portfolio and deposit size with 67% of outstanding loans being for production and business, and 85% of deposit size being for small customer groups.
In addition, digital transformation activities recorded many milestones with a 40% growth compared to 2023 in total transaction volume, as well as the number of new customers (92% of new customers come from digital channels), and successfully deployed the comprehensive payment solution Digistore for sellers.
In 2024, in parallel with effective business operations, ensuring maximum benefits for shareholders, BVBank always accompanies customers and people to recover and develop production, business and life through loan packages with reduced interest rates according to the policies of the Government and the State Bank, and at the same time, resolutely deploy biometric authentication according to Decision No. 2345/QD-NHNN and Circular No. 17 and 18/2024/TT-NHNN of the State Bank to ensure maximum safety and information security for customers when transacting online.
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| BVBank's retail performance is clearly demonstrated through the shift in loan portfolio and deposit size with 67% of outstanding loans being for production and business, and 85% of deposit size being small customer groups. |
2025 profit target increases by 41% compared to 2024
Strategic orientation 2025 BVBank continues to adhere to the goal of becoming a modern, multi-functional retail bank, targeting individual customers and small and medium-sized enterprises, while accelerating the digital transformation roadmap.
It is forecasted that by 2025, the economy will still face many challenges, so seizing business opportunities and improving competitiveness will be dual factors to achieve strategic goals, specifically: growth in scale, growth in customer base, mobilization and lending continue to shift to small retail customers, promoting digital transformation activities and information technology capacity.
At the congress, BVBank proposed a business plan with pre-tax profit reaching VND550 billion, up 41% compared to 2024. In addition, BVBank set a target of total assets reaching VND122 trillion, up 18%; loans reaching VND80,500 billion, up 18%; mobilization from customer deposits reaching VND91,400 billion, up 22%. The bad debt ratio continues to be controlled below 3%.
BVBank's Board of Directors also shared that although the general business environment in the first quarter of 2025 had many challenges, BVBank has effectively controlled its operations, completing 15% of the profit plan set by boosting credit from the beginning of the year and controlling costs. Profit in the first quarter of 2025 is expected to reach VND 80 billion, an increase of 16% over the same period.
Increased charter capital to nearly 7,700 billion VND
With the goal of improving financial capacity, increasing operating capital scale and competitiveness in the market, BVBank submitted to the congress a plan to increase charter capital and it was approved. Accordingly, the maximum charter capital after completing the plan to implement the capital increase plan in 2024 is 6,408 billion VND.
The charter capital is expected to increase by nearly VND 1,300 billion by 2025, through issuing shares to the public at a ratio of 6:1 and issuing shares to employees (ESOP). The total charter capital after the increase is VND 7,676 billion.
Source: https://thoibaonganhang.vn/linh-hoat-nam-bat-co-hoi-kinh-doanh-bvbank-dat-muc-tieu-loi-nhuan-tang-manh-163321.html
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