1,406 VIB Staff to Receive Stock Bonuses

Joint Stock Commercial Bank for Foreign Trade of Vietnam (VIB, ISIN: VIB) has just announced a resolution approving the policy on issuing bonus shares to employees (ESOP) in 2025 and a list of 1,406 employees expected to receive shares in this issuance.

Previously, on May 9, the State Bank of Vietnam approved VIB to increase its charter capital by nearly VND 4,248.7 billion through the issuance of shares. Of this, over VND 4,170.7 billion will come from issuance to existing shareholders (a ratio of 14%) and about VND 78 billion from ESOP share issuance (a ratio of 0.26%).

Specifically, VIB plans to issue 7.8 million ESOP shares. The shares issued in this offering will be restricted from transfer for one year.

As of the record date of May 23, a total of 1,406 employees met the requirements for ESOP share awards. In this list, Mr. Le Quang Trung is the largest recipient with 435,846 shares.

Several other VIB leaders are also expected to receive shares in this issuance. Specifically, Mr. Ho Van Long, Deputy General Director and Director of the Retail Banking Division and CFO, will receive 132,240 shares. Mr. Tran Nhat Minh, Deputy General Director and Director of Banking Services and Information Technology, and Director of Information Technology, will receive 114,204 shares.

Mr. Nguyen Xuan Dung, Deputy General Director and Director of Corporate Customers, will receive 102,108 shares. Ms. Nguyen Thi Mong Tuong, new Deputy General Director and Director of Cards, will receive 99,174 shares. Board member and CEO Han Ngoc Vu will receive 87,150 shares.

In terms of business performance, in Q1/2025, VIB recorded a net interest income of VND 3,737 billion, down 14% year-on-year. Most non-interest segments also declined.

VIB reduced operating expenses by 6% to VND 1,759 billion and credit risk provisions by 55% to over VND 421 billion. As a result, pre-tax profit for Q1/2025 was nearly VND 2,421 billion, a slight decrease of 3% compared to the same period last year.

The Annual General Meeting of Shareholders in 2025, held on March 27, approved a 22% increase in pre-tax profit for 2025 compared to 2024, reaching VND 11,020 billion. Total assets are expected to reach VND 600,350 billion by December 31, 2025, up 22% from the beginning of the year. Total credit balance is projected to increase by 22% to VND 395,800 billion, including loans, corporate bonds, and debt purchases.

With the results of the first quarter, VIB achieved 22% of the profit target.

As of the end of Q1/2025, VIB’s total assets increased slightly by 1% from the beginning of the year to VND 495,727 billion. Loans to customers rose by 3% to VND 334,158 billion. Customer deposits increased by 2% to VND 282,298 billion.

In terms of asset quality, as of March 31, 2025, non-performing loans (NPLs) increased by 11% from the beginning of the year to VND 12,675 billion. Specifically, substandard loans increased by 26.5%, doubtful loans by 11.8%, and loss loans by 6%, accounting for 53.5% of total NPLs. The NPL ratio increased from 3.51% at the beginning of the year to 3.79%.