AsemconnectVietnam - Vietnam International Bank (VIB) has seen its pre-tax profit in the first six months of this year growing 7% year-on-year to VND303 billion (some US$13.58 million), meeting 45% of the full-year plan, according to its unaudited financial report.

Meanwhile, its outstanding loans neared VND51.32 trillion, a 7.4% pickup. This growth rate was higher than the average of the banking system.

Deposits at VIB rose by 7.4% to VND57.25 trillion in the six-month period while its revenues from service fees and other charges shot up 41% against the same period last year. The bank’s total assets inched up 3% from end-2015 to VND86.75 trillion.

As of June 30, its bad debt ratio had stood at 1.84%, below 2.05% at the end of quarter one and 2.07% at the end of last year.

The lender’s capital adequacy ratio (CAR) was over 16%, the highest in the system. VIB said it has complied with the central bank’s regulations on safe ratios for credit institutions.

The bank has paid a 2016 dividend of 8.5% in cash and plans to give bonus shares at 16.5% to shareholders as approved at the general shareholder meeting in April. VIB’s cash dividends and bonus shares are expected to jump to 24-25% in each of 2015 and 2016.

Last month, leaders of Commonwealth Bank of Australia (CBA), which holds a 20% stake in VIB, came to Vietnam to meet the Government, the State Bank of Vietnam and VIB. 

CBA general director Ian Narev said the Australian bank and VIB have cooperated efficiently over the past six years, especially in training human resources and sharing operation experience in an emerging market.

In the first half of this year, VIB carried out many programs and provided more products to better serve individual and corporate customers, and it reported a 700% year-on-year increase in sales of online banking products.    

Notably, the number of clients using VIB online and mobile banking apps leapt 20% and 89% against the same period last year, respectively.

Besides the digital banking division, VIB has established another division to serve foreign-invested enterprises, diversify its incomes and make the most of its good credit rating and governance in line with international standards.   

VIB has won many awards for its innovative products and services so far. Notably, it was recognized as the “Bank of the Year 2015” by The Banker magazine of the UK, one of the most prestigious banking publications in the world.

Source: Bizhub.vn