VIB Shareholders' Meeting: Cash Dividends and Stock Bonuses Amounting to 29.5%, VND 12,045 Billion Profit Plan for 2024

VIB Shareholders' Meeting: Cash dividends and stock bonuses totaling 29.5%, profit plan of VND 12,045 billion in 2024

This morning, April 2, 2024, Vietnam International Bank (VIB) organized the General Meeting of Shareholders (AGM) in Ho Chi Minh City.

According to the announcement of the Shareholder Status Inspection Committee, at 8:30 a.m., there were 142 shareholders attending representing and authorizing more than 82% of VIB's total voting shares.

VIB Shareholders' Meeting: Cash dividends and stock bonuses totaling 29.5%, profit plan of 12,045 billion VND in 2024- Photo 1.

Representative of the Shareholder Eligibility Inspection Committee at the VIB Shareholders' Meeting

Speaking at the opening of the Congress, Mr. Dang Khac Vy, Chairman of the Board of Directors (BOD) of VIB, said that in the context of the international economy and the domestic business market with many challenges, the International Bank has concluded Ending the fiscal year with positive results in many important strategic goals, continuing to be the market leading bank in key business segments, along with positive financial indicators, strongly developing the banking system.

 customer base and continues to be a brand trusted by customers, highly appreciated by the State Bank, major institutional organizations, and international business rating agencies. These results once again confirm the right steps in VIB's strong and sustainable development strategy.

2024 will continue to be a year of many difficulties and challenges for the Vietnamese economy in general and the banking industry in particular. In the new business conditions, VIB will focus on developing business activities with quality and safety as the core, with creative solutions aimed at customers, focusing on technology and banking platforms. digital, cultivate brand reputation, take the lead in applying international standards, ensure compliance and strong risk management.

During this year's Annual Meeting of the General Meeting of Shareholders, VIB shareholders will discuss and approve the Reports and Proposals presented by the Board of Directors and the Supervisory Board as agendas and documents. has been sent to shareholders.

Mr. Dang Khac Vy reports on VIB's 2023 operations and 2024 plan

Business efficiency is at the top of the industry, profits grew an average of 48% per year during the 7 years of transformation

According to the report of the Board of Directors presented by Chairman Dang Khac Vy at the General Meeting of Shareholders, after 7 years of the 10-year strategic transformation journey (2017-2026), VIB has established a solid foundation for outstanding growth. in terms of scale, quality and brand value, bringing the Bank into the industry's leading group in terms of business efficiency, growth in asset scale and revenue, effective cost management, and strict risk control.

  VIB's profits have achieved an average growth rate (CAGR) of 48%/year over the past 7 years, with an effective return on equity (ROE) of 25%, top in the industry for many years. consecutive. The indicators of revenue growth, operational efficiency and cost control are all superior to the average of the top 10 listed banks.

VIB Shareholders' Meeting: Cash dividends and stock bonuses totaling 29.5%, profit plan of 12,045 billion VND in 2024- Photo 3.

The proportion of retail sales continues to lead the banking industry, up to 85%

Consistent with the strategy of becoming a leading retail bank in terms of scale and quality, VIB currently has the top retail proportion in the industry at more than 85% of the credit portfolio and continuously leads the market share in various segments. key businesses such as home loans, car loans, and credit cards.

In 2023, with the strategy of Leading the Card Trend, VIB continues to launch many new card lines with outstanding product features and are introduced for the first time in Vietnam. After 6 years, the total number of credit cards in circulation reached more than 700,000 cards, increasing 8 times, and customer spending via VIB credit cards grew more than 10 times, reaching a total spending milestone of 4 billion USD in 2023, Maintaining the top position in MasterCard market share in Vietnam.

The VIB digital banking ecosystem continues to expand, providing diverse products and services to serve the different needs of customers, making an important contribution to helping VIB add 1 million new customers in 2023. The number of transactions on digital platforms will reach more than 300 million transactions, an increase of more than 130% compared to 2022 and an increase of 60 times after 7 years, bringing the proportion of transactions via digital channels to 94% of the total number of transactions. retail.

VIB Shareholders' Meeting: Cash dividends and stock bonuses totaling 29.5%, profit plan of 12,045 billion VND in 2024- Photo 5.

Strong risk management and brand reputation are increasingly enhanced

According to the report of the Board of Directors, VIB is the bank with the highest retail lending ratio in the market with more than 85% retail lending. In addition to the best level of risk dispersion in the market, VIB also demonstrates a cautious risk appetite, including areas with high potential risks,

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