Vietcombank maintains its leading position, making a breakthrough with a green mark.

ANTD.VN - At the end of 2024, facing many challenges from the macroeconomic environment and the entire industry, Vietcombank continued to achieve high growth in scale, shifted its business structure in the right direction, maintained controlled quality, and increased efficiency; actively contributing to economic recovery, development, and social welfare.

On January 10, 2025, the Vietnam Foreign Trade Commercial Bank (Vietcombank) held a conference to summarize Party work and business activities in 2024 and to implement tasks for 2025.

Mr. Nguyen Thanh Tung - Member of the Executive Committee of the Party Committee of the Central Business Bloc, Secretary of the Party Committee, and Chairman of the Board of Directors of Vietcombank - delivered the opening speech at the Conference.

Maintaining its leading position in the banking industry.

Vietcombank continues to be the leading commercial bank in Vietnam in terms of financial capacity, operational quality and efficiency, market capitalization size, and contribution to the state budget.

Ms. Nguyen Thi Hong - Member of the Central Committee of the Communist Party of Vietnam, Governor of the State Bank of Vietnam (fourth from the left) presents the Emulation Flag of the State Bank of Vietnam and the Governor's Certificate of Merit to 04 units of Vietcombank.

By December 31, 2024, Vietcombank's total assets exceeded VND 2 trillion for the first time, a 13% increase compared to the end of 2023. This growth was driven by lending activities to the economy and effective capital management in the interbank market. Deposits from the primary market reached VND 1.53 trillion, an increase of over 8% compared to 2023, achieving 100% of the plan.

Total outstanding credit reached over VND 1.44 trillion, an increase of nearly 14%. Wholesale and retail credit both grew well, by more than 15% and 12% respectively compared to 2023. Credit growth always goes hand in hand with credit quality control to ensure implementation in accordance with the motto of safe, sustainable and effective growth. The non-performing loan ratio is at 0.97%, better than the general average and within the control ceiling of the State Bank of Vietnam (SBV) and the General Shareholders' Meeting. Off-balance sheet debt collection increased by 79% compared to 2023.

Thanks to implementing fundamental solutions to increase revenue and reduce costs, Vietcombank continues to be the number one bank in terms of profit size with a diversified revenue structure. Pre-tax profit reached over 41,000 billion VND, the highest in the banking industry and fulfilling the plan assigned by the State Bank of Vietnam.

Profitability indicators such as Net Interest Margin (NIM), Return on Assets (ROA), and Return on Equity (ROE) reached high levels, at 3.04%, 1.7%, and 18.5% respectively. International payment and trade finance sales increased by 20% compared to 2023, achieving 108% of the plan; market share reached 19.82%, the highest in the industry. Payment and card usage sales grew strongly by 58% compared to 2023, achieving 140% of the plan.

The new customer acquisition efforts yielded remarkable results, with the number of new customers growing by double digits compared to 2023. New VCB Digibiz customers increased by 50%; new Priority customers increased by 48%....

Representing Vietcombank, Mr. Le Quang Vinh - Member of the Standing Committee of the Party Committee, Deputy General Director in charge of the Executive Board, received the Certificate of Commendation from the General Department of Taxation.

On October 17, 2024, Vietcombank officially took over the mandatory transfer of Vietnam Construction Commercial Bank (CB) under the plan approved by the Government , affirming its role in implementing the Government and State Bank of Vietnam's policy on restructuring credit institutions.

As a leading bank in terms of scale, market share, and market regulation capabilities, on November 30, 2024, Vietcombank received approval from the National Assembly to increase its charter capital from retained earnings, raising it to VND 83,600 billion, the highest in the credit institution system, affirming its role as the "leading institution" in the financial and banking sector in accordance with the direction of the Party and Government.

The mark of Green Banking - Digital

In a year marked by significant economic volatility and weak credit demand, Vietcombank has made substantial strides in green growth and digital transformation. Following the government and State Bank of Vietnam's (SBV) direction on sustainable development, Vietcombank has implemented solutions outlined in the Green Banking Project as a key component of its development strategy to 2025, with a vision to 2030.

The Vietcombank leadership presented tokens of appreciation and flowers to representatives of three exceptionally outstanding units in 2024: the Head Office Branch (fourth from the left), the Thanh Cong Branch (third from the left), and the Nam Saigon Branch (second from the left).

In 2024, Vietcombank successfully issued VND 2 trillion in green bonds to finance projects in the field of environmental protection and environmental benefits. This event marks the first time a commercial bank in Vietnam has issued green bonds that meet international standards, receiving a high rating of Medium Green (ranked 2nd out of 6 according to S&P Global's Shade of Green rating framework).

The bank also serves as the lead arranger of financing for a series of key national projects such as the Block B gas project chain between PVN and EVN, Component 3 - Essential works in the airport under the “Long Thanh International Airport Construction Investment Project - Phase 1”; the Ho Chi Minh City - Long Thanh section expansion project under the Ho Chi Minh City - Long Thanh - Dau Giay Expressway Project…

Total outstanding credit for priority sectors increased by 10% compared to the end of 2023, accounting for 40% of the total credit volume. Of this, green credit reached nearly VND 48,000 billion, an increase of 3.6% compared to the end of 2023.

To realize its digital transformation strategy, the bank actively participates in the implementation of Project 06, the electronic authentication policy of the Ministry of Public Security. Vietcombank is the only bank that has provided full biometric authentication methods (via chip-embedded citizen identification cards and the VneID application) since the initial implementation (July 1, 2024). To date, more than 10 million Vietcombank customers have used biometric authentication, meeting the requirements of the State Bank of Vietnam regarding electronic banking transactions.

Over the past year, the bank launched the new generation VCB Digibank for individual customers, recording over 11 million successful customer conversions. This includes the "An Vui" Digibank version for the elderly, with nearly 78,000 elderly customers downloading the application and receiving much positive feedback.

In November 2024, Vietcombank successfully went live with its new server and storage system for Core Banking, covering the period 2024-2028. This project is of particular importance; it increases the performance and responsiveness of the Core Banking system; ensures safe, stable, and continuous 24/7 service operation, thereby meeting the digital transformation goals as well as the development of new products and services for Vietcombank during the period from 2024-2028.

Thanks to the synchronized implementation of optimal cost management solutions, Vietcombank has sustainable resources to implement many programs and policies to reduce lending interest rates to support people and businesses in accordance with the policies and directives of the Government and the State Bank of Vietnam; helping businesses, units, and organizations access capital at reasonable costs.

In 2024, Vietcombank implemented 26 preferential loan interest rate programs with reductions ranging from 2% to 5% per year depending on the loan term. By the end of 2024, it is estimated that more than 110,000 customers received interest rate reductions, with outstanding loans totaling approximately VND 900,000 billion, accounting for 63% of total outstanding loans, and the total interest reduction amounting to over VND 6,000 billion.

By the end of 2024, Vietcombank had committed 861 billion VND and implemented 571 billion VND for social welfare programs in many localities. Vietcombank also leads the banking industry and is one of the largest contributors to the state budget, paying over 12,000 billion VND in taxes.

High credibility from reputable international organizations.

With outstanding achievements in 2024, Vietcombank received positive recognition from international and domestic credit rating agencies. The bank received awards in all four categories from the prestigious HRAA awards; was recognized for the ninth consecutive year by Anphabe as the bank with the best working environment in Vietnam; had the highest brand value in Vietnam for two consecutive years according to Brand Finance; was named the strongest bank in Vietnam for the seventh consecutive year by The Asian Banker; and was ranked among the top 50 listed companies in Vietnam by Forbes for 12 consecutive years.

Notably, Vietcombank consistently ranks among the leading banks in ESG practices in Vietnam and is among the Top 20 listed companies with the best Sustainable Development Index (VNSI) in 2024.

In 2025, closely following the directives of the Government and the State Bank of Vietnam on the implementation of banking sector tasks, and adhering to the motto: "Innovation, Efficiency, Sustainability," and the guiding principles of "Responsibility - Discipline - Connection - Creativity," Vietcombank strives to achieve the highest possible results for the goals and targets set out in the Vietcombank Development Strategy to 2025 and the restructuring plan associated with handling bad debts of Vietcombank for the period 2021-2025.

Besides strongly shifting its operational structure towards quality and sustainability, Vietcombank will build and develop an ecosystem, promote connectivity; strengthen fundamental capabilities in data and technology, digital transformation, optimize operations and governance according to best practices; ... creating a solid foundation for realizing the 2030 goals that have been set.

Building on the more than 60-year history of a heroic unit and the solid foundations already established, Vietcombank is continuing its strong transformation, aligning itself with the nation's era of progress.

Source: https://www.anninhthudo.vn/vietcombank-vung-the-dan-dau-but-pha-voi-dau-an-xanh-post600880.antd