HCM City (VNA) - The Vietnam International Bank (VIB) targets posting a pre-tax profit of more than 7.5 trillion VND (324.18 million USD) in 2021, a year-on-year rise of 29 percent, the bank’s extraordinary shareholder’s meeting on March 24 heard.

Under its business plan, the bank aims to have more than 300 trillion VND in total assets, up 26 percent against 2020.

With strong financial capacity and a specific business strategy, the bank decided to increase its capital by paying dividends in bonus shares and issuing stocks. With this, its charter capital will increase from over 11 trillion VND to nearly 16 trillion VND, helping it optimise asset growth while ensuring business safety ratios in 2021.

It will continue to develop new financial measures to bring an excellent experiences to customers.

VIB’s total assets increased 33 percent last year to 245 trillion VND. As its pre-tax profit grew 42 percent to more than 5.8 trillion VND, the return on equity (ROE) ratio reached 30 percent, helping VIB retain its top position in the banking sector in terms of business efficiency in the context of bad debts falling under 1.5 percent.

VIB is a pioneer in applying Basel III standards in risk management, after becoming the first bank in Vietnam to complete the three pillars of Basel II.

VIB began trading its stock on the Ho Chi Minh Stock Exchange in November 2020. The stock is now fluctuating around 43,800 VND./.