AsemconnectVietnam - SeABank (SSB) increased charter capital to nearly VND20,403 billion; Nam A Bank (NAB) expects VND2,400 billion dong pre-tax profit, 25% dividend. VIB General Meeting of Shareholders: Approved the plan to pay 35% dividend, profit VND12,200 billion. Eximbank (EIB) target VND5,000 billion profit, up 34% in 2023.

SeABank
Southeast Asia Commercial Joint Stock Bank (SeABank, stock code SSB) has officially completed the increase of charter capital to nearly VND20,403 billion through the issuance of shares to employees under the ESOP Program in 2022.
Accordingly, the State Bank of Vietnam has issued Decision No.177/QD-NHNN dated February 8, 2023 approving the adjustment of the charter capital on the operation license of SeABank from VND19,809 billion to nearly VND20,403 billion.
The increase in charter capital by VND594 billion was made through the form of stock issuance under the employee selection program (ESOP) in 2022, which was approved by the General Meeting of Shareholders of SeABank.
According to SeABank's ESOP Program in 2022, nearly 2,500 employees of the Bank can buy shares at a preferential price of VND15,000/share. This is a welfare program that SeABank periodically implements for many years, in order to appreciate the contributions of its employees and to link the employees' interests with the Bank's development.
By the end of 2022, SeABank has achieved positive business results with pre-tax profit of nearly VND5,069 billion and the Bank has maintained a stable growth rate with positive indicators: Total assets reached VND231,423 billion, up 9.34% compared to 2021; Return on average assets (ROA) and return on average equity (ROE) are 1.83% and 18.1%, respectively.
The Bank's Expense to Income Ratio (CIR) continued to decrease to 35.3% and NPL ratio decreased to 1.60%. Notably, net non-interest income (NOII) increased impressively by 43% compared to 2021, reaching VND2,641 billion. This ratio shows the effectiveness in diversifying the product structure, while effectively exploiting the existing customer file and developing a new customer network in the market.
With the results achieved, SeABank was honored by The Banker as the Best Bank in Vietnam 2022 at the "Bank of the Year 2022" Award Announcement Ceremony (Bank of the Year 2022). SeABank is the only representative of Vietnam and also one of 22 typical banks of the Asia-Pacific region honored at this year's awards.
Nam A Bank
Nam A Bank (stock code NAB) has announced the documents of the 2023 annual general meeting of shareholders scheduled to be held on March 17, 2023.
Accordingly, in 2023, this bank expects a pre-tax profit of VND2,400 billion, an increase of more than 9% compared to the realized level of 2022.
This profit is calculated on the basis of credit growth reaching the set plan and in accordance with the regulations of the State Bank, ensuring the prudential ratios according to regulations and stable macroeconomic conditions.
Nam A Bank expects total assets by the end of 2023 of the bank to be estimated at VND205,000 billion, up 15.4% compared to the beginning of the year. In which, credit growth in 2023 will reach 10.4%, outstanding loans will reach VND132,000 billion. Bad debt ratio does not exceed 3%. Mobilizing capital from individuals, economic organizations and issuing valuable papers reached VND155,000 billion, up 12.8% compared to the beginning of the year.
Regarding business strategy, the bank's management said that it will continue to transform its business model into a multi-service business model, in order to increase income from non-credit services in the total r structure income. Ensure service income increases 1.7 - 1.8 times/year, gradually bring the ratio of non-interest income/total income to 16% - 17% by 2025.
The bank also optimizes the use of credit room, focusing on retail customers; develop a strategy on cost control, structure of deposit portfolio, especially sustainable demand deposit in order to control the lower deposit interest rate of the industry. At the same time, there are solutions to breakthrough growth in customer base, increase customer exploitation through digital channels, expand partnerships with partners and Onebank ecosystem, etc.
Also at this annual meeting, the Board of Directors of Nam A Bank will propose to the general meeting of shareholders not to continue to increase charter capital according to the plan approved in 2022 from two sources of offering shares to the public for existing shareholders and private placement of shares.
Instead, the Board of Directors submitted a plan to increase capital by VND2,116 billion from the issuance of shares to pay a dividend, at the rate of 25%, equivalent to more than 211.6 million shares. If successful, the bank's charter capital will be increased from VND8,464 billion to VND10,580 billion.
Expected time to issue shares in 2023, after receiving written approval from the State Bank and the State Securities Commission (SSC). Expected proceeds from the issuance of shares to increase charter capital are allocated to purchase fixed assets and labor tools; building the physical base of current and future business units; additional capital for business activities.
In addition, Nam A Bank will also seek shareholders' opinions on listing Nam A Bank shares (Code: NAB) on HOSE or HNX depending on market conditions.
Previously, the plan to list shares was also approved by the 2022 Annual General Meeting of Shareholders. Bank leaders said that in the context of the unfavorable macro environment and unpredictable movements of the stock market, the Board of Directors proactively postponed the listing of shares on the Stock Exchange in 2022 to ensure the interests for shareholders.
Nam A Bank also said that it had received an official letter from the State Bank with instructions to ask the bank to proactively implement the plan to rearrange AMC Company in 2023.
In order to have a basis for implementing the rearrangement of AMC Company in 2023, the Board of Directors submitted to the General Meeting of Shareholders to consider assigning the Board of Directors to select and decide on the organizational form of AMC Company in accordance with current regulations of law. In which, it is possible to reduce the capital contribution of Nam A Bank in AMC from 100% of charter capital to a maximum of 11% of charter capital, after being approved by the State Bank.
In 2023, the bank has a policy of establishing, acquiring subsidiaries, affiliated companies or contributing capital to carry out business activities in the securities field; debt management and asset exploitation, remittances, foreign exchange business, gold, factoring, credit card issuance, payment intermediary services; credit information;...
Nam A Bank's Board of Directors also submitted to shareholders for consideration and approval the plan to continue participating in the restructuring of weak People's Credit Funds. Submitting to the General Meeting of Shareholders for approval the authorization for the Board of Directors in selecting and deciding the participation plan to submit to the State Bank for consideration and approval. In addition, the bank also plans to list and issue bonds to the public in the near future.
On the morning of March 17, 2023, Nam A Commercial Joint Stock Bank (NAB - UPCoM) successfully held the 2023 Annual General Meeting of Shareholders through many important contents such as the business plan for 2023, listing on HNX or HOSE, network expansion, branches in foreign countries…
Accordingly, the General Meeting approved the business plan for 2023 with the target of consolidated pre-tax profit of VND2,600 billion, total assets of VND205,000 billion (up 15.4%), capital mobilization increased by 12.8%, outstanding loans increased by 10.4% compared to 2022…
The congress agreed on a plan to expand the network and market share of multinational businesses, to establish a bank with 100% capital of Nam A Bank or an overseas bank branch (expected to be in the Asian region).
This activity is part of the long-term strategy of diversifying markets to exploit opportunities from potential foreign markets and develop a strong Nam A Bank system. This is also one of the activities in the trend of big banks to mark the process of network development to the world, an important tool to support the activities of Vietnamese enterprises abroad.
In addition, the 2023 General Meeting continued to approve the registration of listing all outstanding shares of Nam A Bank on HNX or HOSE depending on market conditions. The plan to list shares was approved by the General Meeting of Shareholders in 2022 but then actively postponed to ensure the interests of shareholders in the context of the unfavorable macro environment and unpredictable movements of the stock market.
For many years, Nam A Bank has accompanied the State Bank of Vietnam and is highly appreciated for its proactive and positive spirit in implementing the policy of restructuring the People's Credit Fund. The Bank has participated and successfully handled three People's Credit Funds which are specially controlled in Dong Nai province.
Following this success, the 2023 Annual General Meeting of Shareholders unanimously approved the plan to continue participating in the restructuring of People's Credit Funds. At the same time, authorize the Board of Directors to select and decide on the participation plan and submit it to the State Bank for consideration and approval.
Previously, in 2022, Nam A Bank was one of the few banks trusted by the State Bank to open 5 more branches and 27 transaction points nationwide.
In addition, the General Meeting approved a share dividend at the rate of 25%, an increase in charter capital... in order to strengthen financial resources, especially medium and long-term capital to accompany the Bank expand and develop business, bring long-term and sustainable value.
In 2022, the Bank achieved positive growth results in business, governance, and operations based on digital platforms.
As of December 31, 2022, Nam A Bank's total assets reached nearly VND180,000 billion, up 16%; consolidated pre-tax profit reached VND2,268 billion, up more than 26%; nearly 120 traditional transaction points and nearly 100 ONEBANK digital transaction points. In addition, Nam A Bank is one of the first four banks to announce the completion of the risk management standard according to international standards Basel III.
Vietnam International Bank (VIB)
On the morning of March 15, 2023, Vietnam International Bank (VIB) held the General Meeting of Shareholders (AGM) in Ho Chi Minh City. The dividend payment plan at the rate of 35% including cash dividends, bonus shares, and a profit before tax plan of VND12,200 billion in 2023 has been approved by the General Meeting of Shareholders.
According to the report of the Board of Directors at the General Meeting of Shareholders, in the first 6 years of the 10-year strategic transformation roadmap (2017-2026), VIB has established a solid foundation for outstanding growth in terms of scale, quality and brand value, putting the Bank in the leading group in the industry in terms of business efficiency, growth in asset size and revenue, effective cost management, and tight risk control.
VIB's profit has achieved an average growth rate (CAGR) of 57%/year during the past 6 years, the effective return on equity (ROE) has reached over 30% for many consecutive years, exceeding outperforming the average of the Top 10 listed banks.
Also according to the report of the Board of Directors, VIB is the bank with the highest percentage of retail loans in the market with 90%, and is also one of the banks with the lowest proportion of bonds in total outstanding loans in the industry accounting for 0.8% of total loans.
In 2022, the SBV ranked VIB among the highest in the industry based on assessments of capital adequacy, asset quality, governance capacity, profitability efficiency, liquidity management, and sensitivity indicators. VIB always adheres to the indicators set by the State Bank and regularly pioneers in the application of international standards, including Basel II, Basel III and IFRS.
Responding to shareholders at the meeting, Mr. Dang Khac Vy - Chairman of VIB's Board of Directors said that 2022 and 2023 will be difficult years for the real estate and corporate bond markets. In the recent update report, the total outstanding loans of corporate bonds accounted for VND1,800 billion of the total loans of the Bank of VND232,000 billion.
Real estate loans have VND3,800 billion, very small compared to other banks, real estate mainly lends to foreign companies operating in Vietnam.
VIB only has 3% of loans for bonds and real estate in total outstanding loans. As for the report of Moody's, the outstanding balance on equity is only close to 15%, while the vast majority of other banks are higher.
VIB has 90% outstanding loans in the retail banking segment, of which more than 90% of outstanding loans are secured by assets.
Housing loans accounted for 5%, business loans accounted for 17%, auto loans 18%-19%, the rest were home repair loans, card loans, mortgage loans with savings books.
Regarding VIB's business housing, unlike other banks, VIB does not provide housing loans for ongoing projects, condotels, etc., only loans for houses with pink and red books, multi-purpose loans for both business and residence. If the real estate market drops 30%-40%, the quality of VIB's collateral is safe.
VIB's General Meeting of Shareholders approved the plan to increase charter capital to VND25,368 billion, up 20.36%; paying 35% dividend, with maximum 15% cash dividend, 20% bonus shares.
VIB aims to attract 10 million customers by 2026, with a compound profit growth of 20% - 30% for the period 2022-2026.
According to the Chairman of VIB, the number of profit plans for this year has been considered based on many factors. VIB thinks that this year's profit plan is a reasonable number given VIB's operating model.
In the first months of 2023, NIM increased slightly, surpassing 4.6%. However, VIB recognized the measure that the State Bank of Vietnam introduced to reduce the operating interest rate to reduce the deposit interest rate, and at the same time must support customers to borrow capital and reduce lending interest. Therefore, VIB will bring NIM to about 4.5-4.6%.
Besides, with Bancassurance activities in 2022, there will be a slight influence due to market factors in the context of corporate bonds of other banks as well as some banks selling incorrect Bancassurance products, making reputation as well as bad. as the viewing angle towards this product is affected.
In 2022, Bancassurance and VIB will grow by 8%. VIB has balanced between selling insurance to borrowers as well as deposit customers. VIB is negotiating with Prudential to extend the contract for the next 13 years, creating practical benefits for participants buying insurance, loan insurance, and investment insurance. The bank believes that in 2023 Bancassurance activities will grow well.
In addition, VIB's General Meeting of Shareholders also approved the list of members of the Board of Directors for the IX term (2023 - 2027) with 5 members of the Board of Directors, including 1 independent member. Among the 5 new members of the Board of Directors, 4 members continued to be elected, including Mr. Dang Khac Vy, Chairman of the Board of Directors; Mr. Dang Van Son, Vice Chairman of the Board of Directors; Mr. Han Ngoc Vu member of the Board of Directors cum General Director; Mr. Do Xuan Hoang, member of VIB's Board of Directors.
The General Meeting elects 2 members of the Supervisory Board for a new term.
Eximbank
Vietnam Export-Import Commercial Joint Stock Bank (Eximbank, stock code EIB) has just announced the documents of the Annual General Meeting of Shareholders in 2023. Accordingly, the bank has set a target for total assets and pre-tax profit to increase sharply.
Eximbank said that 2022 is a year of many changes in the socio-economic situation in Vietnam. The post-Covid-19 impact is still ongoing while deposit and lending interest rates fluctuate strongly due to the influence of unfavorable information in the industry. Global inflation is difficult to predict, posing difficulties and challenges that the banking industry has to face.
At Eximbank, the BOD's personnel structure for term VII includes new members, inheriting and promoting the foundations of the previous term. The Board of Directors and the Board of Management have made great efforts to complete the set plans.
The business plan for 2023 was approved by the Board of Directors in Resolution No. 461A/2022/EIB/NQT-HĐQT dated December 2, 2022 with the targets of total assets and pre-tax profit both increasing sharply.
The goal of total assets in 2023 is VND210,000 billion, an increase of 13.5% compared to 2022. End-of-year capital mobilization will reach VND165,000 billion (up 11%), credit balance will reach VND 146,600 billion (up 12. 3%). On-balance sheet bad debt ratio was below 1.6% and pre-tax profit reached VND5,000 billion, up 34.5%
In terms of business results in 2022, Eximbank has exceeded many set targets with total assets of VND185,056 billion, an increase of 11.6% compared to the performance of 2021 and exceeding 3% of business targets. Capital mobilization reached VND148,615 billion, equaling 101% of the year plan. The company's pre-tax profit reached VND3,709 billion, exceeding 48% of the set target and increasing by 207.7% compared to 2021. With this result, Eximbank's profit in 2022 is three times higher than that of 2021.
Eximbank said that in 2022, the bank has sharply reduced its bond investment portfolio, especially corporate bonds, prioritizing loans for essential consumption, production and business, which has helped the bank increase business efficiency, contributing to liquidity safety, limiting the risk of revaluation of investment assets when interest rates rise rapidly.
The structure of the loan portfolio focuses on growth in the SME and individual customer segments, lending for production and business needs. Strictly control the loan portfolio in the direction of gradually reducing the limit of unsecured loans, reducing the proportion of high-risk groups.
Commenting on 2023, Eximbank assessed and forecasted that in 2023, the Vietnamese economy would face many difficulties and challenges. Increasing inflationary pressures and stronger monetary tightening pressures, especially in the US and developed economies, could lead to major fluctuations in the global financial markets, slowing down the growth momentum of Vietnam economy.
Vietnam's economy with the goal of 2023 continues to maintain macroeconomic stability, control inflation, promote growth, ensure a large balance of the economy, GDP target reaches 6.5%, only Consumer price index (CPI) 4.5% of total import-export turnover increased by 7-8% compared to 2022, trade balance continued to be in surplus, FDI attraction increased, foreign exchange reserves remained at 3. -4 months of import.
In 2023, the State Bank of Vietnam will operate a firm, proactive and flexible monetary policy with a credit growth orientation of 14-15%. Control credit growth reasonably, direct credit capital into production, business and priority areas, and strictly control credit in potential risk areas.
On the basis of analysis and assessment of factors affecting business operations, Eximbank has planned for 2023 with targets and solutions to achieve the set goals. In particular, the focus is on solutions on customer base, products and prices, risk management, operating technology, human resources, marketing and branding.
With the customer base, Eximbank continues to focus and maintain the development of the traditional customer base, find new customers, increase the level of use of products and services and the value of using products per customer, promote cross-selling.
N.Nga
Source: VITIC/Tinnhanhchungkhoan