AsemconnectVietnam - Vietnam Thuong Tin Commercial Joint Stock Bank - Vietbank (UPCoM: code VBB) will hold its general meeting of shareholders (AGM) on April 26 to submit to shareholders for approval of this year's business targets.

Previously, the bank announced that the list of shareholders attending the meeting will be closed on March 25.
Accordingly, Vietbank expects total assets by the end of 2025 to reach VND180,000 billion, up 11% compared to the end of 2024. Total outstanding credit balance will reach VND112,000 billion, up 12% compared to last year; total capital mobilization will reach VND132,000 billion, up 17%. The number of customers will increase by 85% compared to last year. Pre-tax profit in 2025 is expected to reach VND 1,750 billion, up 55% compared to the level achieved in 2024. NPL ratio is controlled below 2.5%; ROE reaches 13.5%
Notably, in 2025, Vietbank plans to increase its charter capital from VND7,139 billion to VND10,919.7 billion through two rounds of share issuance to existing shareholders.
Specifically, in the first round, Vietbank plans to increase an additional VND1,071 billion through the issuance of shares from equity capital, including retained earnings and the Reserve Fund to supplement charter capital by the end of 2024. The number of additional shares issued is 107,091,199 shares, equivalent to 15% of the total number of common shares in circulation. After this issuance, the bank's charter capital will increase to VND8,210 billion.
The upcoming meeting documents include important presentations and reports such as the 2024 Business Performance Report, 2025 Business Plan Orientation; Approval of the Audited Financial Statement; Profit Distribution Plan; Report on the results of the implementation of charter capital increase and listing on the stock market for Vietbank shares according to Resolution of the General Meeting of Shareholders No. 01/2024/NQ-ĐHĐCĐ dated April 26, 2024; Presentation on the Charter Capital Increase Plan in 2025; Presentation on the selection of an independent auditing organization; Presentation on the policy of participating in the restructuring of the People's Credit Fund, etc.
Regarding the plan to switch to listing on the Ho Chi Minh City Stock Exchange (HOSE), the Board of Directors of VietBank said that at the 2024 General Meeting of Shareholders, the Bank submitted to shareholders for approval the plan to switch floors when the time and market conditions are favorable. Based on Vietbank's performance in 2022, 2023 and the plan to restructure operations and handle bad debts in the 2021-2025 period, Vietbank has fully met the conditions to transfer the listing floor. However, according to VietBank's Board of Directors, in 2024, in the context of the market and unfavorable market conditions, the stock market is being affected by interest rate pressure, interest rate policies... increasing the risks when listing. Therefore, this bank said that it will consider a more suitable time to implement the listing plan in 2025 or 2026. At the end of the 2024 fiscal year, Vietbank recorded positive business results when pre-tax profit reached more than VND 1,131 billion, up 39.3% compared to 2023, completing 108% of the plan. Total assets reached VND 162,855 billion, up 17.8% and completed 109% of the plan. Of which, total outstanding credit balance accounted for 57.5% of total assets.
The asset portfolio structure continued to be restructured towards increasing the proportion of profitable assets and always maintained at 96%. Total mobilized capital (including customer deposits and issuance of valuable papers) reached VND112,520 billion, up 10.8%. The capital structure was maintained with diverse terms, ensuring stability, safe liquidity, and reasonable capital costs. Total outstanding credit balance reached VND93,637 billion, up 16% (an increase of VND12,883 billion) and completed 98.6% of the plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan