As one of the leading taxpayers in Vietnam, VIB has consistently been recognized for its significant contributions to the state budget. The bank has received accolades for its “Outstanding Performance in Tax Collection and Payment to the Ho Chi Minh City State Budget” for multiple consecutive years. In 2024, VIB was ranked among the top 4 private banks and 11th overall among private enterprises in the country for its substantial contributions to the state coffers.
This remarkable achievement can be attributed to VIB’s successful implementation of a safe and sustainable retail model, which has resulted in impressive growth in scale and efficiency year after year. Since transitioning to this business model in 2017, VIB has contributed over VND 11,900 billion to the state budget in just 7 years, with an average growth rate of nearly 40%/year. This not only showcases VIB’s effective business operations but also highlights its valuable contributions to the nation’s overall resources.
In addition to its financial contributions, VIB actively engages in community initiatives. The bank has sponsored various programs, including the nationwide movement to eradicate temporary and dilapidated housing, provided support for victims of Typhoon Yagi, offered student scholarships, and promoted cultural, educational, and social initiatives.
On the business front, VIB recently announced positive Q3 results, with standout performance in credit and deposit growth, outpacing the industry by 12% and 8%, respectively. This success is a result of the proactive launch of competitive and attractive lending and deposit products in the market. In terms of risk management, VIB has demonstrated improvement in asset quality through effective debt management strategies and early prevention measures. As of the end of October, Group 2 debt has decreased by more than 30%, equivalent to over VND 4,500 billion compared to the beginning of the year. With a healthy credit growth trajectory and enhanced asset quality, the bank is well-positioned to deliver positive financial results and continue making significant contributions to the national budget.
Services
“VinFast Secures Backing from Vingroup and Chairman Pham Nhat Vuong to Fortify its War Chest and Accelerate its Ascent.”
On November 12, 2024, Vingroup and Mr. Pham Nhat Vuong announced a financial support package for VinFast. As part of this, Vingroup plans to provide VinFast with new loans of up to VND 35,000 billion by the end of 2026. In addition, Mr. Pham Nhat Vuong has committed to personally sponsoring VinFast with VND 50,000 billion. Furthermore, Vingroup will invest in VinFast Vietnam by converting the existing loan of approximately VND 80,000 billion into preferred shares, which will be eligible for dividends.
The Ever-Changing Landscape of SAM Holdings: Unveiling the New Chairman
On November 12, SAM Holdings Joint Stock Company (HOSE: SAM) announced changes to two key leadership positions: the Chairman of the Board of Directors and the General Director.
Investing in Funds: Buyers Still “Cautious”
Last week (04-08/11/2024), cautious investors increased their equity holdings as the VN-Index experienced volatility, fluctuating between downward pressure pushing it towards the 1,240-point range and a strong recovery during the US election session, followed by further adjustment pressures.
“Investing in Vietnam: Access to 65 of the World’s Top Markets”
On the morning of November 8th, Prime Minister Pham Minh Chinh attended a Vietnam-China business forum in Chongqing city. The forum was organized by the Ministry of Planning and Investment, the Committee for Management of State Capital at Enterprises, and the Vietnamese Embassy in China, in collaboration with the Chongqing municipal government.
The Deadline Has Passed, Yet Ninh Thuan Has Only Implemented 13 Out of 17 Special Policies
Over the past five years, the province has implemented only 13 out of 17 policies outlined in the Government’s Resolution No. 115, dated August 31, 2018, on the implementation of special mechanisms and policies to support the socio-economic development and stabilize production and people’s lives in Ninh Thuan Province for the 2018-2023 period.
