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VietinBank 2024: Outstanding Growth - Stepping into a New Era

Việt NamViệt Nam09/01/2025

On January 6, 2025, in Hanoi, the Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ) held a conference to summarize its Party work and business activities in 2024 and to implement tasks for 2025. Reports presented at the conference showed that in 2024, VietinBank had excellently completed all aspects of Party building work, achieving and exceeding the targets set by the General Shareholders' Meeting, thereby creating a solid foundation for breakthrough growth in 2025.
Comprehensive Party Leadership: At the Conference, the achievements of the Party Committee and the VietinBank system in 2024 were prominently displayed through: the Report on the results of Party building work in 2024; the Report summarizing business activities in 2024 and implementing business tasks in 2025; and the Report summarizing inspection and supervision work. Accordingly, in 2024, the Party Committee of VietinBank played a comprehensive leadership role in all activities; resolutely and persistently led and directed the implementation of effective and sustainable business activities; maintained the principles of democratic centralism, discipline, and order ; promoted the spirit of unity, initiative, and creativity of cadres, Party members, and employees throughout the system in implementing the goals and tasks according to the Resolutions of the Party Congresses at all levels, the Resolution of the 10th Party Congress of VietinBank , and served as an important foundation towards the Party Congresses at all levels for the 2025-2030 term.

Chairman of the Board of Directors Final Comrade Tran Minh Binh - Member of the Executive Committee of the Party Committee of the Central Business Bloc, Secretary of the Party Committee, Chairman of the Board of Directors of VietinBank, delivered the opening speech at the Conference - Photo: XN

In Party building work, recognizing that stability is a prerequisite for development, in 2024 the Party Committee of VietinBank prioritizes: (i) Concentrating on consolidating the organization according to Regulation No. 87-QĐ/TW, dated November 16, 2022, of the Secretariat on the functions, tasks, and organizational structure of the Party committee at the grassroots level in State-owned enterprises and enterprises with controlling State capital ; (ii) Leading the improvement of the quality of activities of subordinate Party organizations after taking over; and (iii) Focusing on preparing well the conditions for successfully organizing Party congresses at all levels leading to the 11th Congress of the VietinBank Party Committee, term 2025 - 2030.

Mr. Cuong

Comrade Tran Kien Cuong - Standing Deputy Secretary of the Party Committee, presented the Report summarizing the Party's work in 2024. Photo: XN

The Party Committee of the Vietnam Bank for Industry and Trade (NHCT) continued to lead the serious, high-quality, and effective implementation of political and ideological education. It promptly organized eight conferences to study, disseminate, and thoroughly understand the directives and resolutions of the 13th Central Committee Conference and the regulations and thematic studies according to the plan and requirements of the higher-level Party organizations. It innovated the content, methods, and forms of teaching and learning in eight political theory training courses for various target groups and organized two training conferences on Party work and the organization of Party congresses for subordinate Party committees and organizations to meet the requirements of the tasks. It enhanced the effectiveness of propaganda and press work through the well-organized creative writing competition in response to the Golden Hammer and Sickle Award of the Party Committee of the Central Business Bloc (with 1,100 entries) and the political commentary competition on protecting the Party's ideological foundation in 2024 (with 378 entries), achieving high levels of dissemination.
Party committees at all levels were reviewed and restructured to ensure a reasonable number and structure, meeting the standards and conditions before the congress. The Party Committee of VietinBank promptly adjusted the Personnel Plan for the Party Committee Executive Board and the Party Committee Standing Committee for the 2020-2025 term; restructured the position of Deputy Secretary of the Party Committee simultaneously with the restructured position of General Director of VietinBank ; restructured and supplemented the position of Chairman of the Party Committee's Inspection Committee; restructured and supplemented 3 members of the Party Committee Standing Committee , 5 members of the Party Committee Executive Board , and 1 member of the Inspection Committee holding the position of Deputy Chairman of the Inspection Committee .

Handing over the work of the cadres

The Party Committee of the Central Business Bloc presents decisions on personnel matters - Photo: XN

Within the framework of the Conference, the Party Committee of the Central State-Owned Enterprises Bloc awarded the Decision appointing additional members to the Party Committee, the Decision approving the Standing Committee members, and the Decision approving the members of the Inspection Committee and the Chairman of the Inspection Committee of the Party Committee of VietinBank for the 2020-2025 term. A period of growth : Leveraging its role as a large state-owned commercial bank, VietinBank has pioneered the implementation of directives and orientations from the Party, Government, and the State Bank of Vietnam (SBV) in managing monetary policy, stabilizing exchange rates and interest rates, controlling inflation, reducing operating costs, creating conditions for further reductions in lending interest rates, and supporting economic recovery and growth. Many solutions to promote business according to key priorities and remove bottlenecks in mechanisms and policies have been decisively implemented by VietinBank to improve operational efficiency; effectively carrying out the business plan assigned by the General Meeting of Shareholders and the SBV. In addition, VietinBank is also one of the units selected by the State Bank of Vietnam to implement timely and effective support for stabilizing gold prices.

Sep Trung

Comrade Nguyen Tran Manh Trung - Deputy Secretary of the Party Committee, Member of the Board of Directors and General Director of VietinBank, presented the report summarizing business activities in 2024 and outlining business tasks for 2025. Photo: XN

With unwavering determination and outstanding efforts, VietinBank's business operations achieved and surpassed the 2024 plan targets with impressive growth: - VietinBank's total assets increased by 17%; revenue grew positively, and profits met and exceeded the set plan. - Significant shift in income structure: Non-interest income contributed nearly 27% of total operating income, driven primarily by core operations including guarantee fees and payment services; with guarantee fees leading the market growth rate (reaching 35%). - Credit outstanding increased by 16.88% compared to 2023, higher than the average growth rate of the entire banking industry and maintaining stable growth throughout the year. - Total mobilized capital reached VND 1.8 million billion, a 15% increase compared to the end of 2023. CASA (Current Account Savings Account) scale experienced a breakthrough growth of 30% compared to the 2023 average. The CASA ratio reached 24.1% by the end of 2024, supporting improved capital costs and enhancing VietinBank's competitiveness. - Contributed VND 8.6 trillion to the State budget, a 33% increase compared to 2023, consistently ranking among the Top 10 enterprises contributing the most to the State budget. Focusing all resources on implementing the Digital Transformation Program, VietinBank completed a crucial "launching" phase in 2024 with 45 prioritized initiatives. The establishment of the Digital Factory in June 2024 became a key highlight, applying the Agile working method to shorten product and service delivery times and ensure continuous improvement, providing optimal customer experience. Upholding the spirit of sharing, VietinBank has dedicated significant resources to social welfare activities, bringing positive values ​​to society and the community. Accordingly, VietinBank has allocated over 500 billion VND to social welfare programs, poverty reduction, and acts of gratitude and remembrance in all 63 provinces and cities nationwide.

Final Panorama

Overview of the Conference - Photo: XN

Entering the " Era of National Resilience," VietinBank has identified nine key tasks in its business operations. Simultaneously, VietinBank continues to aggressively implement measures to promote business activities, closely following the direction and guidance of the Government and the State Bank of Vietnam, as well as market developments, while simultaneously implementing policies to support people and businesses. At the conference, the leaders of the Party Committee of the Central Business Bloc and the State Bank of Vietnam acknowledged, highly appreciated, and commended the achievements of the VietinBank Party Committee in 2024. The leaders of the Party Committee of the Central Business Bloc and the State Bank of Vietnam requested VietinBank to continue to leverage its role as a state-owned commercial bank, effectively leading the market; thereby, exceeding the business plan set for 2025. Responding to the directives from the Party Committee of the Central Business Bloc and the State Bank of Vietnam, Comrade Tran Minh Binh - 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 VietinBank - affirmed: The Party Committee of VietinBank will continue to strive and build upon the achievements already made; closely follow and fully and seriously implement the policies and directives of the Central Committee, the Party Committee of the Central Business Bloc, and the State Bank of Vietnam in carrying out all aspects of activities to build a "clean, strong, and comprehensive Party Committee," with the key task in 2025 being to successfully organize the 11th Congress of the Party Committee of VietinBank, term 2025-2030. At the same time, VietinBank hopes to receive the support of all levels, sectors, agencies, partners, and customers, along with the high level of effort and focus of the entire system, so that VietinBank can continue to develop and achieve even more success in 2025 and the following years. 2025 is a significant milestone , affirming a VietinBank that is innovative, creative, customer-centric, and always ready to adapt to lead , opening up opportunities for sustainable development and soaring with the country into a new era - "The era of national progress".
Source: https://www.vietinbank.vn/vi/tin-tuc/tin-tuc-va-su-kien/vietinbank-2024-tang-truong-vuot-troi-tien-buoc-vao-ky-nguyen-moi-20250108070404-00-html

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