AsemconnectVietnam - Kien Long Commercial Joint Stock Bank (KienlongBank, code KLB - UPCoM) has just announced the documents of the 2023 Annual General Meeting of Shareholders (AGM), which will take place online on April 27 in Hanoi.

Regarding the business plan in 2023, KienlongBank sets a target of pre-tax profit of VND700 billion, up from the performance in 2022. Total assets are expected to increase to VND86 trillion. Total mobilized capital is expected to reach VND78,000 billion in 2023. Credit balance increased by 15.39%, reaching VND52,500 billion. NPL ratio is controlled below 3%, ensuring compliance with regulations of the State Bank.
At this meeting, in addition to the reports of the Board of Directors, Board of Management, and Supervisory Board on activities in 2022 and expected operation in 2023, KienlongBank is expected to submit to shareholders for approval a number of contents such as: Selection independent audit firm for the year 2023; Consolidated financial statements for 2022; Report on the end of the term 2018 - 2022 and introduce the list of personnel to elect members of the Board of Directors, members of KienlongBank's Supervisory Board for the term 2023-2027; The plan to increase charter capital in 2023 and some other important submissions.
By the end of 2022, KienlongBank has completed the targets set by the General Meeting of Shareholders. Specifically, KienlongBank's pre-tax profit in 2022 reached nearly VND682 billion, completing 103% of the plan. Total operating income increased by VND294.4 billion, up 12.70% compared to the previous year. Net profit from service activities increased by VND140.4 billion, or 54.92% higher than in 2021.
As of December 31, 2022, KienlongBank's total consolidated assets recorded nearly VND85,760 billion. Total capital mobilization reached VND75,843 billion. Total credit balance reached more than VND45,498 billion, up 16.12% compared to 2021. Bad debt ratio continued to be controlled below 1.18%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan