Illustrative photo (Source:VNA)

Hanoi (VNA) - Vietnam International Bank (VIB) has been named "Bank of the Year 2015" by The Banker, one of the world's leading journals in economics, finance and commerce.

The award was presented to VIB CEO Vu Han at the annual awards ceremony in London on December 2.

Selected by The Banker's judges, the annual award aims to honour the leading bank in each country. It is the world's longest running and most prestigious international banking title and is regarded as 'the Oscar' of the banking industry.

In 2015, The Banker honoured the most outstanding banks in each of the 152 participating countries.

VIB has been named 'Bank of the Year' in Vietnam for its financial strength, sound business model and the prudent risk management consistently adopted by the bank.

Besides VIB's efforts in business operations reflected by Tier 1 capital, total assets, net profit and non-performing loan ratio, The Banker praised the bank for its sustainable growth strategy, advanced banking technologies, continuous innovation and efficient and effective marketing activities during the year.

VIB has been increasingly recognised by prestigious organisations nationally and internationally.

Recently, VIB strengthened its leading position in the assessment of the local banking market strength by Moody's International rating agency. Besides receiving "The Best Segment Solution Award" from MasterCard thanks to its classic debit MasterCard solution, VIB has also been awarded "Vietnam's Outstanding Innovative Banking Product/Service Award" for 2015 by the International Data Group.

From January through September, the bank recorded a pre-provision profit of 747 billion VND (33.2 million USD), while before-tax profits reached 370 billion VND (16.5 million USD), up 58 percent.-VNA