AsemconnectVietnam - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV, stock code BID - HOSE) has just released its annual report, which sets the 2020 plan with a target of 12,500 billion dong of pre-tax profit, increased by 16.5 percent year-on-year.

At the same time, BIDV aims to increase credit balance by 9 percent, capital mobilization by 9 percent, bad debt ratio below 1.7 percent and expected dividend payout ratio of 7 percent.
Accordingly, BIDV will implement measures to improve financial capacity, ensuring capital adequacy ratios as prescribed. The efforts to implement plans to increase capital from stock dividend payments; continue promoting capital increase from issuing shares to foreign investors and new financial investors; At the same time, other measures to raise capital as planned.
In addition, BIDV will promote the development and diversify products - services, efforts to diversify revenue sources, contributing to the restructuring of income towards sustainability; develop and diversify banking products and services, especially non-credit products.
Synchronously deploying solutions to diversify revenue sources such as increasing service revenue with non-credit customers; promote insurance activities and telesales, increase service revenue on the basis of deploying new products with high technology content.
At the end of 2019, BID recorded consolidated pre-tax profit of the whole bank reached VND 10,732 billion, an increase of 14.3 percent compared to 2018, completing 104 percent of the plan approved by the General Meeting of Shareholders, ROA target of 0.61 percent, ROE reached 12.94 percent.
The total outstanding loans and investments as of December 31, 2019 reached VND 1,325,737 billion, of which credit balance of organizations, residents and corporate bonds reached VND 1,134,503 billion, up 12.2 percent, ensuring the credit limits assigned by the State Bank. BIDV's credit scale accounts for 13.8% of the industry's market share.
The total mobilized capital reached VND 1,374,765 billion, up 12.1 percent compared to the beginning of the year; in which the mobilized capital from organizations and people reached VND 1,187,093 billion, up 12.6 percent compared to 2018, exceeding the yearly plan. Especially in 2019, BIDV has successfully issued bonds to raise capital with a successful offering of over VND 19,000 billion, making an important contribution to improving financial capacity.
N.Nga
Source: Securities Investment Newspaper