VIB’s shareholders approved the bank’s business plan for this year. — VNS Photo

Vietnam International Bank (VIB) received shareholders approval to distribute 44.6 per cent dividend payment rate in 2016, including 5 per cent in cash and 39.6 per cent in bonus shares.

The rate is 25 per cent higher than the previous year, which included 8.5 per cent in cash and 16.5 per cent in bonus shares.

At their meeting in Ha Noi on Thursday, shareholders agreed to pay bonus shares to the bank’s employees at a rate of 0.4 per cent of the charter capital.

The bank’s shareholders also approved the business plan for this year, which includes pre-tax profit of VND750 billion (US$33 million), surging 7 per cent over last year’s figure, and VND120 trillion in total assets, up 15 per cent year-on-year.

VIB chairman Dang Khac Vy believed 2017 would be a promising year for the banking industry and the bank would focus on ensuring the quality of products and customer services and investing in human resources to reach the reviewed goals.

Han Ngoc Vu, VIB general director, said the bank would strive to enter into M&A deals and grasp opportunities to buy retail businesses of other banks.

Over the past three months, the bank posted after-tax profit of VND126 billion, up 14 per cent year-on-year.

During the reviewed period, its net interest income, net fee and commission income and gain from investment securities also experienced positive growth of 16 per cent, 31 per cent and 21 per cent, respectively.

Debts purchased from the Viet Nam Asset Management Company were handled well, resulting in a decrease of 2.19 per cent in the bank’s non-performing loan ratio as of March 31, lower than the 2.58 per cent seen at the end of 2016.

VIB shares (code VIB), meanwhile, dropped 0.5 per cent to close at VND20,000 on the Unlisted Public Company Market (UPCoM) on Thursday. — VNS