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|VIB is one of joint stock banks taking the lead in retail lending market share|
This is the second consecutive year VIB’s profit annual growth was almost doubled.
Its revenue rose 48 per cent, in which interest income and non–interest income increased by 40 per cent and 92 per cent, respectively.
Non-interest income contributed 20 per cent to the total revenue. The cost to income ratio (CIR) reached 44 per cent, an efficient level, which reduced by 13 per cent compared to last year.
The return on average equity ratio (ROAE) sharply increased to 22.5 per cent, putting VIB among banks with highest ROE.
|Retail banking business continued making key contribution with revenue growing up by 90 per cent at VIB.|
Retail banking business continued making key contribution with revenue growing up by 90 per cent.
Wholesale banking and treasury banking businesses also gained significantly in profit growth at 22 per cent and 49 per cent, respectively.
As of December 31, 2018, the bank’s total asset amounted to about VND140 trillion ($6.08 billion) and its deposit rose by 22.7 per cent against last year.
The lending balance reached VND98.933 trillion ($4.3 billion), up 17.5 per cent, of which retail lending came to VND74.3 trillion ($3.2 billion), up 48 per cent in 2018 after having jumped by 83 per cent in 2017.
Thanks to this impressive growth rate, VIB surpassed many big joint stock banks in terms of retail lending and affirmed its position as one of joint stock banks taking the lead in retail lending market share.
The bank’s equity touched VND10.662 trillion ($463.5 million), the capital adequacy ratio (CAR) under Basel II was 10.2 per cent, and the NPL ratio was 2.2 per cent with zero legacy loans sold to state bad debt bank ,VAMC.