VIB strives to become a leading retail bank, issuing bonus shares at 35%

Thursday, Mar 17, 2022 14:09


The 2022 Annual General Meeting of VIB in HCM CIty on Wednesday. — Photo

Vietnam International Bank (VIB) held its 2022 Annual General Meeting (AGM) in HCM City on Wednesday.

During the event, the bank’s shareholders approved the plan to distribute bonus shares to existing shareholders at 35 per cent and to increase the charter capital to more than VNĐ21 trillion. They also approved a profit target of VNĐ10.5 trillion set for 2022.

This plan comes from the bank's capital needs for investment projects in technology systems, networks, and credit extension, meeting the capital adequacy ratio in business in accordance with the provisions of the law.

In the next period, VIB sets sustainable growth targets, pioneers a strong governance foundation and leads in digitalisation. It is also consistent with the goal of becoming the country’s leading retail bank in terms of quality and scale.

VIB is striving for at least 30 per cent compound annual profit growth for the 2022-26 period, the customer base to be nearly tripled, and market capitalisation expected to grow impressively.  

As of December 31, 2021, VIB's market capitalisation reached more than VNĐ70 trillion (US$3.2 billion), 2.4 times higher than the first day it shifted to the Hồ Chí Minh Stock Exchange.

It was also recognised as one of the top 5 private commercial joint stock banks while placing 22nd among enterprises with the largest market capitalisation on the southern bourse. —VNS

Comments (0)