Vietbank will increase its charter capital to VND 7,139 billion through the issuance of shares to pay dividends from retained earnings. Accordingly, the bank will distribute dividends for 2024 in shares at a rate of 25%, a relatively high payout compared to the market average. This capital increase plan is one of the important conditions for Vietbank to strengthen and improve its financial capacity in accordance with the roadmap committed to the State Bank of Vietnam , ensuring the capital adequacy ratio (CAR) as stipulated by the State Bank; thereby expanding its scale, competitiveness, and meeting its network development plan. The capital increase is expected to be completed by the end of 2024.

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As the first step in its network expansion strategy, Vietbank inaugurated its Bac Ninh branch on September 26th – the first in a plan to open five new branches in 2024. Currently, the bank has 120 transaction points, including 26 branches and 94 transaction offices. By the end of 2024, this number is expected to increase to 132 transaction points, with 30 branches and 102 transaction offices. This affirms Vietbank's commitment to continuously improving service quality and bringing the bank closer to people across the country.

In addition, Vietbank also announced the list of shareholders holding 1% or more of the charter capital according to the amended Law on Credit Institutions effective from July 1, 2024. This list includes 25 shareholders, both organizations and individuals. Among them, Mr. Duong Nhat Nguyen - Chairman of the Board of Directors and related family members are the long-standing group of shareholders, holding the largest number of shares with an ownership stake of 11.89%.

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In 2024, Vietbank aims for a pre-tax profit of VND 1,050 billion, a 29% increase compared to 2023. Total assets are targeted at VND 150,000 billion; deposits at VND 116,000 billion. Total outstanding loans are projected at VND 95,000 billion. The bank aims to expand its market share, increase the scale of total assets both qualitatively and quantitatively, and keep non-performing loans below 3% as per the State Bank of Vietnam's regulations. Vietbank also aims to achieve a target of VND 170,000 billion in total assets by 2025, with market deposits reaching VND 135,000 billion; total outstanding loans at VND 110,000 billion; charter capital at VND 10,000 billion; and pre-tax profit of VND 1,600 billion, with non-performing loans controlled below 3% as per regulations.

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Over the years, in addition to effectively carrying out its business activities, Vietbank has consistently demonstrated its social responsibility through its social welfare programs. Following the severe damage caused by Typhoon No. 3 (Typhoon Yagi ) recently, Vietbank promptly implemented practical financial support measures to help communities overcome post-typhoon difficulties. Specifically, the bank reduced loan interest rates by 0.5% to 1.2% per year for customers affected by the storm and floods, helping to alleviate financial burdens and facilitate the recovery of production and business activities. Furthermore, Vietbank also organized fundraising activities among its employees, raising over 1.8 billion VND to support people in the northern provinces affected by Typhoon Yagi. The event attracted nearly 2,600 Vietbank employees at 119 transaction points, participating both online and in person.

Bui Huy