Vietbank will increase its charter capital to VND7,139 billion through the issuance of shares to pay dividends from retained earnings. Accordingly, the bank will pay dividends in 2024 in shares at a rate of 25%, which is quite high compared to the general market level. The plan to increase charter capital is one of the important conditions for Vietbank to consolidate and improve its financial capacity in accordance with the roadmap committed to the State Bank of Vietnam , ensuring the capital adequacy ratio (CAR) according to the regulations of the State Bank; thereby expanding its scale, competitiveness and meeting the plan to develop its transaction network. The capital increase is expected to be completed by the end of 2024.

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Kicking off its strategy to expand its transaction network, on September 26, Vietbank opened its Bac Ninh branch - the first branch in its plan to open 5 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, while bringing the bank closer to people across the country.

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

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In 2024, Vietbank aims for pre-tax profit of VND1,050 billion, an increase of 29% compared to 2023. Total assets reach VND150,000 billion; capital mobilization reaches VND116,000 billion. Total outstanding loans are VND95,000 billion. This bank aims to expand market share, increase total asset size in both quality and quantity, and control bad debt below 3% according to regulations of the State Bank. Vietbank also aims to increase total assets to VND170,000 billion by 2025, mobilize capital from market 1 to VND135,000 billion; total outstanding loans to VND110,000 billion; charter capital to VND10,000 billion and pre-tax profit to VND1,600 billion, and bad debt to be controlled below 3% according to regulations.

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Over the years, in addition to effectively implementing business activities, Vietbank has always demonstrated its responsibility to the community through social security activities. In the face of the severe damage caused by storm No. 3 ( Yagi storm) recently, Vietbank has quickly issued practical financial support solutions, accompanying the community to overcome difficulties after the storm. Specifically, the bank reduced loan interest rates from 0.5% to 1.2%/year for customers affected by storms and floods, helping to reduce financial burdens, creating favorable conditions for people to restore production and business activities. In addition, Vietbank also organized charity fundraising activities from officers and employees with donations reaching more than 1.8 billion VND to support people in the northern provinces affected by Yagi storm. The activity attracted nearly 2,600 Vietbank staff to participate at 119 transaction points, both online and in person.

Bui Huy