Accordingly, the Board of Directors of VIB proposes a business plan for 2021 with a pre-tax profit target of VND 7,510 billion, an increase of 29.4% compared to 2020. The scale of assets is expected to increase to over 300,000 billion VND, the level of growth is 25.5%.
Total credit balance (including customer loans, corporate bonds and debt purchase) is expected to reach VND 224,800 billion. Raising capital from customer deposits and issuing valuable papers is expected to reach VND 234,790 billion this year.
Besides the business plan for 2021, another important content that VIB Board of Directors submits to the AGM is the plan to increase charter capital.
Specifically, VIB proposes a plan to increase capital in the form of bonus shares distribution from undistributed net profit and reserve fund to supplement charter capital and increase capital by issuing shares.
Accordingly, VIB plans to use more than VND 4,437 billion of undistributed profit after tax and reserve fund to supplement charter capital to increase the maximum capital scale to more than VND 15,531 billion, corresponding to the number of additional shares. 443 million units.
After implementing capital increase in this form, the Board of Directors proposes the AGM to approve the capital increase plan through a maximum offering of more than 46.5 million shares. Charter capital after offering is at most 15,997 billion dong.
The mobilized amount is expected to use 4,403 billion VND to enhance credit, the rest to invest in liquid assets, investment in facilities, technology, products, risk management capacity, investment investment in upgrading the branch network.
VIB’s 2021 annual shareholder meeting will be held on March 24.
Regarding business results in 2020, VIB recorded net interest income of VND 8,496 billion, an increase of more than 36% compared to 2019. Profit before tax grew stronger at 42%, earning VND 5,803 billion for the whole year. 2020.
Asset scale at the end of 2020 reaches VND 244,676 billion. Credit balance reached 171,545 billion VND, capital mobilization reached 178,908 billion VND, increased 29% and 28% respectively compared to 2019.
NPL ratio at the end of 2020 will decrease to 1.46%, while at the end of 2019 it is 1.68%.
VIB shares opened on March 1, 2021 at the price of VND 41,000 per share. Market capitalization is estimated at over VND 44,000 billion.
Source: vietnamfinance.vn – Translated by fintel.vn