Vietcombank Headquarters
Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank – Code: VCB) announces March 26th as the deadline for registration to attend the annual general shareholders’ meeting in 2024, corresponding to the ex-rights transaction day on March 25th.
Accordingly, this year’s shareholders’ meeting will be held on April 26th, 2022 at the Vietcombank Human Resources Training and Development Center, Ecopark Urban Area, Cuu Cao Commune, Van Giang District, Hung Yen Province.
The meeting aims to approve agenda items such as: Management Board Report, Executive Board, Supervisory Board for 2023 business activities, 2024 orientation; Draft proposal on increasing charter capital from retained earnings in 2022; Proposal on approving audited consolidated financial statements and profit distribution plan for 2023; Remuneration of the Board of Directors and Supervisory Board,…
In terms of business results, Vietcombank recorded consolidated pre-tax profit of VND 41.244 trillion in 2023, a growth of 10.4% compared to 2022.
With these results, Vietcombank continues to surpass other “giants” such as BIDV (VND 27.650 trillion), MB (VND 26.306 trillion), Agribank (VND 25.400 trillion), VietinBank (VND 25.100 trillion), while setting a new record for profitability in the banking industry.
As of the end of 2023, Vietcombank’s total assets reached over VND 1,839 trillion, up 1.4% from the beginning of the year. Loans to customers exceeded VND 1,270 trillion, increasing by 10.9%. Customer deposits increased by 12.2% to nearly VND 1,396 trillion, with the term deposit ratio at 35.2%.
Vietcombank’s on-balance sheet bad debt as of December 31, 2023 was VND 12.455 trillion, an increase of 59.3% compared to the end of 2022. As a result, the bad debt ratio on total loans increased from 0.68% to 0.98%, while the coverage ratio decreased from 317% to 230%. However, Vietcombank still remains the bank with the lowest bad debt ratio and the highest coverage ratio in the banking system.
