Customers make transactions at VIB. — VNS Photo

The proposal suggests the charter capital will increase from VND4.85 trillion (US$216 million) to VND5.64 trillion ($251 million) by distributing bonus shares, equivalent to 16.5 per cent, at the upcoming shareholders meeting here.

If approved, the shareholders would enjoy total 25 per cent, including divident in cash and bonus shares, which is rather impressive when compared with the rates of other banks in this context, the bank said in its statement.

Last year, VIB shareholders also enjoyed a dividend rate of 23 per cent, including 9 per cent in cash and 14 per cent in bonus shares.

During the reviewed period, the bank posted a profit before tax of VND655 billion and fulfilled the plan set by the general meeting of shareholders. The banks credit growth rate reached 24.9 per cent, while its total assets increased by 5 per cent compared to 2014. Its non-performing loan rate, meanwhile, decreased to only 2.07 per cent.

The bank targets achieving a pre-tax profit of VND675 billion and a credit growth rate of 25 per cent.

VIB has joined the ranks of banks with high-quality shareholder equity, reflected in its capital adequacy ratio (CAR) ranging from 17 per cent to 18 per cent. Besides this, of the 10 banks selected for the pilot Basel II programme, VIB had the highest readiness score thanks to its technology platform being securely in place and its CAR of nearly 13 per cent, based on Basel II standards, compared to the required CAR of 8 per cent. — VNS