VIB's journey to large retail bank Vietnam International Bank (VIB) aims to earn pre-tax profit of VNĐ4.5 trillion (over US$193 million) in 2020, up 10 per cent year-on-year. 

Banks step up bad debt resolution Some banks are speeding up the recovery of non-performing loans (NPLs) this year despite the impacts of the COVID-19 pandemic.

VietinBank to sell 50 per cent of capital in Vietinbank Leasing The bank will sell 49 per cent of its capital in Vietinbank Leasing to Mitsubishi UFJ Lease & Finance Co Ltd and 1 per cent to another domestic investor.

APICORP Receives Credit Rating of 'AA' with a Stable Outlook from Fitch Ratings, Reflecting Strong Credit Profile and Continued Growth APICORP Receives Credit Rating of 'AA' with a Stable Outlook from Fitch Ratings, Reflecting Strong Credit Profile and Continued Growth

Techcombank targeted VNĐ13 trillion pre-tax profit in 2020 Techcombank (TCB) has set a pre-tax profit target of VNĐ13 trillion (US$559.3 million) in 2020, increasing slightly one per cent from last year.

SHB to raise capital to US$832 million The bank will issue bonus shares at a rate of 10 per cent in the third or fourth quarter of the year to raise capital.

GBG and CredoLab partner to extend digital fraud risk management for Southeast Asia's unbanked, new-to-credit and gig economy workers to onboard and transact easily GBG and CredoLab partner to extend digital fraud risk management for Southeast Asia's unbanked, new-to-credit and gig economy workers to onboard and transact easily

Restructuring, bad debts prevent banks from paying dividends

At Sacombank’s annual general meeting held on June 5 its permanent vice chairman Phạm Văn Phong said that in 2019 the bank’s pre-tax profit increased by 43.2 per cent to VNĐ3.2 trillion (US$137.5 million), which was 21.4 per cent above the target.

HDBank to pay dividend at a rate of 65%, focus on digital transformation The HCM City Development Joint Stock Commercial Bank (HOSE: HDB) plans to pay 2019 dividend at a ratio of 65 per cent, with 50 per cent in stocks and 15 per cent in bonus shares.

Sacombank sets to achieve $110.6 million in pre-tax profit in 2020

Shareholders of Saigon Thương Tín Commercial Joint Stock Bank (Sacombank) approved the bank’s financial statements for last year, a number of targets for this year, profit distribution plans and other important proposals at its annual general meeting held online on June 5.