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Banking & Finance

VIB releases Q1 results

Released at: 08:23, 14/05/2015

VIB releases Q1 results

Pre-tax profit of $6.39 million among impressive figures for Vietnam International Bank in first quarter.

by Hung Nguyen

Vietnam International Bank (VIB) has announced its business performance for the first quarter, with profit before tax of VND139 billion ($6.39 million) and profit before setting risk provisions reaching VND280 billion ($12.88 million), increases of 170.31 per cent and 41 per cent, respectively, against the same period of 2014

Total assets stood at VND78.02 trillion ($3.59 billion) and charter capital VND8.65 trillion ($398.07 million), while total revenue increased 11 per cent and revenue from services rose 79 per cent compared to the first quarter of 2014.

Mobilized capital reached VND48.04 trillion ($2.21 billion), a decline of 2.05 per cent quarter-on-quarter, and outstanding credit VND39.48 billion ($1.81 billion), an increase of 3 per cent. Non-performing loans were 2.2 per cent, a 0.3 per cent decline compared to the end of 2014, and the capital adequacy ratio (CAR) was 19.6 per cent.

VIB now employs around 4,000 staff in 160 offices throughout Vietnam, serving over 1 million individual customers and some 20,000 corporate customers.

For 2015 the bank has set targets of increasing its total assets by 9 per cent to VND88.25 billion ($4.09 million) and an 8 per cent growth in deposits, to VND53 trillion ($2.46 billion), with a 9 per cent cash dividend and a stock dividend payout rate of 12 per cent.

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