VietinBank sets profit before tax target of VND 8.8 trillion for 2017
At the 2017 Annual General Meeting of Shareholders (AGM), VietinBank has proposed to the AGM many major targets such as: Total asset increase of 14%, outstanding credit of VND 862.8 trillion, NPL ratio below 3%, total fund mobilized of VND 996.4 trillion; PBT of VND 8.8 trillion…
| Mr. Le Duc Tho - General Director of VietinBank giving a speech at the AGM |
2017 is expected to be another challenging year, however, it also offers opportunities to the financial and banking sector. This is also the last year of the 2015-2017 medium term business plan (MTBP) of VietinBank.
At the 2017 AGM, Mr. Nguyen Van Thang, Alternate member of the Central Party’s Committee, Member of the National Assembly, Chairman of the Board of Directors of VietinBank, has determined the focus of direction with 5 main missions of the year: Continuously and drastically promote business activities; Stay firm in the role of the pivotal state-owned commercial bank; grow effectively and tightly control asset quality; recover all debts sold to VAMC; develop modern products and services, especially in payment banking; standardize the entire aspects of operation; improve financial capacity, risk management, develop infrastructure, modernize IT technology according to international standards; create a steady platform towards the target of being the regionally qualified bank in 2018.
On behalf of VietinBank’s Board of Manager, Mr. Le Duc Tho – General Director of VietinBank, had presented the VietinBank’s business indicators of 2017 such as: total asset increase of 14%, amounting to VND 1,081,634 billion; outstanding credit of VND 826.8 trillion; total fund mobilized of VND 996.4 trillion; profit before tax of VND 8.8 trillion…
In order to fulfill the demand for economy development, VietinBank is required to immediately carry out imperative measures in 2017 to enhance the financial capacity and increase charter capital. VietinBank will develop equity increase plan from annual dividend retaining, increased capital contribution of shareholders, restructuring its own equity and propose a number of exclusive mechanisms for the Bank.
VietinBank will also drastically implement its business activities, stay strong as the pillar bank, supply the majority of capital to the economy and closely follow the growth direction under MTBP. VietinBank determines to make a breakthrough in SME and retail banking segments, in which special attention will be attached to super-micro and manufacturing enterprises, FDI segment will be developed with some focuses and VietinBank’s leading position in large corporate segment will be further elevated. Concurrently, VietinBank shall stick to the directives given by the SBV and prioritize allocating capital to sectors encouraged by the State.
| In 2017, VietinBank continued to set sky-high targets |
Minh Minh
