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Wednesday, May 22, 2024

VIB targets VND12 trillion profit this year

The Saigon Times

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HCMC – Vietnam International Commercial Joint Stock Bank (VIB), which is listed on the Hochiminh Stock Exchange, looks to make over VND12 trillion in pre-tax profit this year, up by 13% against last year.

The lender aims to increase its total assets to VND492 trillion and maintain the ratio of bad debt to outstanding loans at below 3% this year.

Last year VIB made over VND22 trillion in total revenue, rising by 23% over 2022. Its pre-tax profit reached over VND10.7 trillion, while its return on equity (ROE) reached 25%.

As of December 31, 2023, VIB’s total assets were estimated at nearly VND410 trillion, up by 20% over the beginning of the year.

VIB’s general meeting for 2024 is scheduled for April 2 at the InterContinental Saigon Hotel in District 1, HCMC.

Closing the trading session today, March 19, VIB shares fell by 0.67% to VND22,100 per share, with a trading volume of more than 3.9 million shares.

On the southern bourse, the VN-Index lost 1.1 points, or 0.09%, against the previous session, at 1,242.46 points, with 216 winners and 242 losers.

Trading volume totaled over 914.6 million shares worth VND21.6 trillion, down by 46% in volume and 50% in value versus yesterday. Block deal transactions totaled over VND132 million shares worth a combined VND2.5 trillion.

The VN30 basket saw only nine stocks rising and 16 stocks falling, along with five stocks —  BVH, CTG, GVR, MBB and SSB — remaining unchanged.

Steel maker HPG inched up by 0.7% to VND29,800 per share, with nearly 27 million shares transacted, the highest trading volume in the VN30 basket. Meanwhile, EIB took the lead by liquidity with over 32.2 million shares traded. Its price rose by 1.1% to VND18,600 per share.

On the Hanoi exchange, the HNX-Index declined by 0.51 points, or 0.22%, to 236.16 points with 86 advancers and 85 decliners. There were over 82.5 million units worth VND1.6 trillion changing hands.

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