AsemconnectVietnam - On the morning of March 27, Vietnam International Commercial Joint Stock Bank (code VIB - HOSE) held its annual general meeting of shareholders (AGM) in 2025 to approve this year's business plan.

Profit in Q1 reached 22%, confident in the plan of VND11,020 billion
Speaking at the meeting, Mr. Dang Khac Vy, Chairman of VIB, said that the strategic orientation for 2025 is that VIB will continue its 10-year strategic transformation roadmap (2017-2026) with the vision of becoming "the most innovative and customer-oriented bank in Vietnam" and positioning itself as "The leading retail bank in Vietnam in terms of quality and scale" and "The leading partner bank of businesses and financial institutions".
The strategic transformation goals have been consistently communicated and comprehensively implemented, achieving high efficiency over the past years, including: Compound annual growth rate (CAGR) in lending, mobilization, card, insurance and customer base business indicators of 20-30%/year in 10 years of transformation; Compound annual growth rate (CAGR) in revenue and compound profit of 20-30%/year; Sustainable increase in market capitalization.
In 2025, VIB sets a business target with pre-tax profit of VND11,020 billion, up 22% compared to the level achieved in 2024. In addition, VIB sets a target of total assets increasing by 22%, reaching VND600,350 billion by the end of 2025, of which total outstanding credit increases by 22%, reaching VND395,800 billion. Capital mobilization reaches VND377,300 billion, up 26%; while the bad debt ratio continues to be controlled below 3%.
Regarding the business results of the first quarter of 2025, the Chairman of VIB also shared that the estimated profit reached about 20-22% of the total annual target. However, the first quarter of 2025 falls during the Tet holiday and February only has 28 days, so VIB expects that the profit will gradually increase in the coming quarters, especially the last quarters of the year will be 30-40% higher than the first quarter of the year and the annual profit target has a basis to be completed, because the Bank's credit is currently growing well compared to the whole industry.
As of March 10, 2025, the credit growth of the whole banking industry increased by about 1.2% and is forecasted to increase by nearly 2% by the end of the first quarter of 2025, while VIB increased by about 3%. This year, VIB sets a credit growth target of 22% and the average for the next 10 years will maintain 20%. In particular, the Bank has promoted lending to the retail segment, currently retail accounts for 80% of VIB's total outstanding loans.
21% dividend, 25% foreign room, looking for strategic investors
At the meeting, VIB submitted to shareholders for approval to pay cash dividends at a rate of 7%, issue bonus shares to existing shareholders at a rate of 14% and issue 7.8 million ESOP shares to employees. With the results achieved in the past year, after setting aside funds and paying cash dividends, VIB's remaining consolidated profit was more than VND4,059 billion, and individual profit was more than VND3,963 billion.
Accordingly, VIB will pay cash dividends at a rate of 7% of charter capital (charter capital as of December 31, 2024 is VND29,791 billion). The total amount used to pay dividends is more than VND2,085 billion. However, in addition to paying dividends in cash, VIB's Board of Directors also proposed a plan to increase charter capital through issuing bonus shares to existing shareholders and employees.
In addition, VIB will issue nearly 417.1 million shares to existing shareholders, equivalent to a rate of 14%, increasing charter capital by nearly VND4,171 billion; and issue 7.8 million bonus shares to employees, equivalent to a rate of 0.26%, increasing charter capital by VND78 billion.
In total, after completing the above two components, VIB's charter capital will increase from more than VND29,791 billion to more than VND34,040 billion, equivalent to a capital increase rate of 14.26%. The entire increased charter capital will be used by VIB to serve the bank's business operations, boost credit granting, invest in liquid assets, invest in facilities, technology infrastructure, expand the branch network, etc.
In particular, answering the shareholder's question about the recent divestment of strategic shareholder Commonwealth Bank of Australia (CBA), Mr. Vy said that VIB has had a very good shareholder and has mobilized resources effectively; conversely, CBA has also gained efficiency from its investment in VIB.
Specifically, CBA invested in VIB since 2010, with an initial capital of USD75 million, but when divesting, it earned (including dividends) nearly USD500 million. After CBA's divestment, the foreign room at VIB is about 25% empty. VIB is in the process of researching foreign partners to be able to choose an investor that will bring efficiency to the Bank as well as bring good benefits to shareholders. Upon completion, the Bank's Board of Directors will submit the proposal to shareholders for approval.
Latest update on March 17, 2025, Pyn Elite Fund currently owns more than 57.65 million VIB shares, equivalent to 1.94%; while Commonwealth Bank of Australia (CBA) no longer holds any VIB shares after nearly 15 years as a strategic shareholder.
N.Nga
Source: VITIC/Tinnhanhchungkhoan