VIBBank targets 700b dong profit

Saturday, May 17, 2008
Vietnam International Commercial Joint Stock Bank (VIBBank) recently announced that it would organise its shareholders' meeting on May 21 to pass this year's business plan with 700 billion dong from pre tax profit, 52.5 trillion dong in total asset, between 21.76 billion dong and 23.4 billion dong in outstanding loans, ROE at 20% and dividend of 15%.

Last year, VIBBank set a plan of 2.5 trillion dong in chartered capital, but at the end of 2007, the bank's chartered capital reached two trillion dong due to the bank has not found its foreign strategic partner yet.

In 2007, VIBBank's shareholders' meeting also granted authority to the director board to list shares. However, the bank's director board announced that the best time to list shares is after selling shares to foreign strategic partner.