Vietnam International Bank (UpCom: VIB) on Wednesday launched a new-model branch in Binh Duong Province’s Thu Dau Mot City, demonstrating its commitment to meet the financial needs of personal, corporate and institutional customers.

With a friendly, modern transaction space following a new sales and service model of international standards, VIB Binh Duong, located at 306 Binh Duong Avenue in Phu Hoa Ward, delivers banking and financial services that include deposits, lending, payments, mortgages, discounts, as well as other services such as loans for automobiles, mortgages and personal expenses, and loans for home businesses and small- and medium-sized enterprises.

The new branch is part of VIB’s roadmap for its new sales and service model that has put customers at the centre of its operations since 2009, said Han Ngoc Vu, VIB’s general director.

With more than 13 years of operation in the province, VIB has become one of the leading joint-stock commercial banks, serving more than 23,000 local customers, including personal customers and SMEs, and focusing on lending and deposits.

Since 2017, VIB has ranked among banks with profit over VND1 trillion (US$42.9 million).

According to its unaudited financial statements for the first half of the year, VIB’s net revenue increased by 56 per cent year-on-year to VND2.7 trillion ($115.87 million), while its operating expense reached nearly VND1.3 trillion, up 16 per cent year-on-year.

That resulted in the bank’s strong rise in pre-tax profits of 216 per cent, hitting VND1.15 trillion.

The bank’s non-performing loan ratio was 2.3 per cent.

The most important contribution to VIB’s growth and profitability came from its retail banking business, which gained a year-on-year revenue rise of 100 per cent in the first half of the year.

The bank expects the 2018 pre-tax profit will be over VND2.5 trillion, 25 per cent higher than the target agreed to by its shareholders. — VNS