VIB’s pre-tax profit surges 52 percent in Q3
admin 13-10-2020, 21:28

VIB’s pre-tax profit surges 52 percent in Q3

Transactions at VIB. — Photo courtesy of the bank



Hanoi (VNS/VNA) –
The Vietnam International Bank ( VIB ) posted pre-tax profit of over 166 trillion VND (72 million USD) in the third quarter of 2020 up 30 percent month-on-month and 52 percent year-on-year, according to its third quarter 2020 financial report published recently. 


In the first nine months of this year, VIB’s total revenue surpassed 785 trillion VND, up 34 percent year-on-year. Of which, its fee income reached more than 163 trillion VND, accounting for 21 percent of total revenue. 


During the period, the bank’s  pre-tax profit saw a yearly increase of 38 percent to over 4 trillion VND. Its return on equity ratio (ROE) was 28.9 percent, among the highest in the banking industry.


As of September 302020 the bank’s total assets reached over 213 trillion VND while its credit over 151 trillion VND, up 14.2 percent year-over-year, triple the industry average, according to the data. 


From January to September, the bank has continued to invest in technology, branch networks and people, recruiting more than 1500 employees.


On October 5 VIB’s shareholders approved to cancel its trading on UPCOM. That will allow the bank to list nearly one billion shares to Ho Chi Minh Stock Exchange next month.


Previously, the bank also got the approval of the State Bank of Vietnam to divide bonus shares at the rate of 20 percent for existing shareholders to increase its charter capital to over 11 trillion VND. 


For many years, VIB has always maintained its position as one of the leading banks in the trend of digital banking services with special emphasis on mobile phone platforms. VIB is the only bank in Vietnam that has won a customer experience award for four consecutive years and Digital Bank of the Year award for three consecutive years by  The Asset  magazine.


The bank has launched a new version of MyVIB application and officially applied e-KYC into issuing e-banking accounts for VIB customers, that allows registration and transactions on the phone after just a minute./.


VNA