PR86665

HO CHI MINH CITY, Vietnam, Nov. 17, 2020 /PRNewswire=KYODO JBN/ -- 

Nearly 1 billion shares of Vietnam International Bank are listed on the Ho Chi

Minh City Stock Exchange (HOSE) with the reference price for the first day of

trading at VND 32,300 /share.

"It is an important step for VIB to list shares on HOSE and this is also the

basis to keep the dynamic, high-speed and sustainable growth that has been

established over the years. The listing will bring optimal value to customers,

shareholders, investors, employees and prosperous development of Vietnam's

financial market," Mr. Han Ngoc Vu, Chief Executive officer of VIB shared at the event.

Leading in business performance, stable dividend policy at a high rate

VIB is one of the leading commercial banks in terms of business performance.

The bank witnessed the total assets of more than VND 230 trillion, total credit

of VND 160 trillion and equity of more than VND 17 trillion. At the moment, VIB

has nearly 9,000 employees and a network of 165 business units in 27 provinces

and cities serving 3 million customers nationwide.

In the first 10 months of the year, VIB's pre-tax profit reached VND 4,570

billion, an increase of 40% compared to the same period last year, completed

100% of the 2020 plan. Accounting for 24% of total revenue, non-interest income

gained VND2,160 billion. Non-performing loan (NPL) ratio is 1.6%, capital adequacy

ratio (CAR) Basel II is over 9.5%, higher than the at least level 8% stipulated by

the State Bank. Average ROE is 29%, among the highest in the banking industry.

In recent years, VIB has maintained a stable dividend policy with the rate from

5% to 5.5% of cash dividend and bonus share distribution from 20% to over 40%.

In 2020, VIB and other banks do not pay cash dividends to reduce lending

interest rate on current outstanding loans and new loans in accordance with

Directive 02 / CT-NHNN of State bank of Vietnam (SBV).

Previously, the bank announced November 20 as the final date for shareholder to

register to receive bonus shares at the rate of 20% equity. This is a part of

VIB plan to increase its charter capital to over VND 11,094 billion that has

been approved by SBV.

Source Vietnam International Bank