The Vietnam International Commercial Joint Stock Bank (VIB) racked up a nine-month, pre-tax profit of 124 percent of its yearly plan and double last year’s figure, fulfilling yearly targets three months before schedule.

VIB also made headway in capital mobilisation and granting loans. The bank’s total capital mobilised during the period was more than 44 trillion VND or 99 percent of its yearly target, representing a year-on-year increase of 38 percent.

Its total loans outstanding were 25.5 trillion VND, equivalent to 103 percent of the yearly plan and up 29 percent compared to 2008’s correspondent period.

The rate of controlled bad debts was kept low, about 1.5 percent of the total.

In October, the bank plans to offer 20 million shares at a face value of 10,000 VND per share in order to increase its chartered capital to 2.4 trillion VND from the current 2.2 trillion VND.

Early last month, VIB kicked off its overall business strategy in the 2009-2013 period through the launch of a trademark strategy and a new logo with the “Devoted Bank” slogan.

Under the overall strategy, in the next five years, the bank will offer new products and services to clients with focusing on products for individuals and small- and medium-sized enterprises.

As one of the leading commercial joint stock banks in Vietnam , the bank has performed well in recent years, doubling its growth annually.

VIB was ranked second among four leading Vietnamese banks in Moody’s August assessment of banks’ financial strengths./.