Friday, December 4 2020


VIB: 2016 results positive; shares listed on UPCoM

Update: January, 09/2017 - 16:50
A representative from VIB hits gong to celebrate the banks’s debut on the UPCoM. - VNS Photo
Viet Nam News

HÀ NỘI — More than 564.4 million shares of Vietnam International Bank (VIB) made their debut on the Unlisted Public Company Market (UPCoM) on Monday.

The reference price on the first trading day was VNĐ17,000 per share. At this rate, VIB’s market capitalisation is nearly VNĐ9.6 trillion (US$423 million).

“VIB’s listing is aimed at creating transparency in our activities, market capitalisation and share liquidity so as to make it easier for investors to make investment decisions,” the bank said in its statement.

Last year, VIB maintained a stable growth momentum, as per the bank’s unaudited business results.

The bank made VNĐ1.3 trillion in profit before provisions and VNĐ702 billion profit before tax, which is 4 per cent higher than the target set by the General Council of Shareholders early in 2016, and 7 per cent higher than in 2015.

Its total lending balance was around VNĐ68 trillion, a 25 per cent growth against 2015, while its total assets amounted to approximately VNĐ105 trillion.

According to the latest data, the bank’s non-performing loan (NPL) rate continues to be under control at under 3 per cent while its loan-to-deposit ratio (LDR) was 66 per cent, much lower than the maximum limit of 80 per cent set by the State Bank of Việt Nam (SBV).

At the end of 2016, VIB shareholders’ equity was more than VNĐ8.7 trillion, while the bank’s charter capital increased to around VNĐ5.64 trillion, based on the General Council of Shareholders’ plan, which was approved by SBV.

Among the 10 local banks selected by the central bank for pilot implementation of Basel II, VIB has the highest readiness level and a high CAR of 10 per cent, based on Basel II standards.

In the past two years, VIB continued to have high dividend payment rates – it  was 23.5 per cent and 25 per cent in 2014 and 2015, respectively, including payment in cash and by bonus share.

This year, VIB has set a profit target that is 10 per cent higher than the 2016 target.

“VIB will continue to develop its core bank activities, focusing on personal customers, SME customers and foreign-invested enterprises,” it said, adding that the focus is on developing innovative solutions and using more technology to maximise its productivity, increase revenue and save costs. — VNS


Send Us Your Comments:

See also: