VIB is now one of the best performing joint stock banks in the country, with 154 branches and transaction offices nationwide and more than 8,000 correspondent banks in 61 countries. — VNS Photo

HA NOI (Biz Hub) — The Vietnam International Bank (VIB) earned VND940 billion (US$42 million) in accumulated profit before provision from January to September, up 25.9 per cent compared to the same period last year.

During this period, VIB's total operating income increased by 21 per cent year-on-year, the bank's business results, which were released on October 21, revealed. Its lending balance crossed VND53.37 trillion in the period, up 11.7 per cent year-on-year, while deposits saw an annual growth of 12.1 per cent, to approximately VND59.8 trillion.

Fee and commission incomes increased by 41 per cent against the same period last year, the bank said, adding that its total assets amount to VND88.61 trillion, a 5 per cent surge compared to end of 2015.

Notably, the bank's non-performing loan (NPL) rate has decreased in the past nine months to 1.54 per cent, from 1.84 per cent at the end of this year's second quarter. It was 2.07 per cent at the end of 2015.

The bank's capital adequacy ratio (CAR) stood at 15.6 per cent, much higher than the 9 per cent ratio required by the State Bank of Việt Nam (SBV).

On October 20, VIB's credit ranking was upgraded to B2, listing it in the group of banks with the highest credit rankings in the market, after the Vietnamese banks ranking report was published by Moody's.

Earlier, the central bank approved VIB's plan - passed at VIB's general shareholder meeting in April - to issue bonus shares in order to increase its charter capital to VND5.64 trillion from VND4.84 trillion. — VNS