VIB officially listed nearly 1 billion shares on HOSE

HO CHI MINH CITY, Vietnam, Nov. 17, 2020 /PRNewswire/ -- Nearly 1 billion shares of Vietnam International Bank are listed on the Ho Chi Minh City Stock Exchange (HOSE) with the reference price for the first day of trading at VND 32,300 /share.

"It is an important step for VIB to list shares on HOSE and this is also the basis to keep the dynamic, high-speed and sustainable growth that has been established over the years. The listing will bring optimal value to customers, shareholders, investors, employees and prosperous development of Vietnam's financial market," Mr. Han Ngoc Vu, Chief Executive officer of VIB shared at the event.

Leading in business performance, stable dividend policy at a high rate

VIB is one of the leading commercial banks in terms of business performance. The bank witnessed the total assets of more than VND 230 trillion, total credit of VND 160 trillion and equity of more than VND 17 trillion. At the moment, VIB has nearly 9,000 employees and a network of 165 business units in 27 provinces and cities serving 3 million customers nationwide.

In the first 10 months of the year, VIB's pre-tax profit reached VND 4,570 billion, an increase of 40% compared to the same period last year, completed 100% of the 2020 plan. Accounting for 24% of total revenue, non-interest income gained VND2,160 billion. Non-performing loan (NPL) ratio is 1.6%, capital adequacy ratio (CAR) Basel II is over 9.5%, higher than the at least level 8% stipulated by the State Bank. Average ROE is 29%, among the highest in the banking industry.

In recent years, VIB has maintained a stable dividend policy with the rate from 5% to 5.5% of cash dividend and bonus share distribution from 20% to over 40%. In 2020, VIB and other banks do not pay cash dividends to reduce lending interest rate on current outstanding loans and new loans in accordance with Directive 02 / CT-NHNN of State bank of Vietnam (SBV).

Previously, the bank announced November 20 as the final date for shareholder to register to receive bonus shares at the rate of 20% equity. This is a part of VIB plan to increase its charter capital to over VND 11,094 billion that has been approved by SBV.