The Vietnam International Bank (VIB) posted pre-tax profit of over 1.66 trillion VND (72 million USD) in the third quarter of 2020, up 30 percent month-on-month and 52 percent year-on-year, according to its third quarter 2020 financial report published recently.
Hanoi (VNS/VNA) -The Vietnam International Bank (VIB) posted pre-tax profit of over 1.66trillion VND (72million USD) in thethird quarter of 2020, up 30 percent month-on-month and 52 percentyear-on-year, according to its third quarter 2020 financial reportpublished recently.
In the first nine months of this year, VIB's total revenue surpassed 7.85trillion VND, up 34percent year-on-year. Of which, its fee income reached more than 1.63 trillion VND, accounting for 21percent of total revenue.
During the period, the bank's pre-tax profit saw a yearly increase of 38percent to over 4 trillion VND. Its return on equity ratio (ROE) was 28.9percent, among the highest in the banking industry.
As of September 30, 2020, the bank's total assets reached over 213 trillion VND while itscredit over 151 trillion VND, up 14.2 percent year-over-year, triple the industry average,according to the data.
From January to September, the bank has continued to invest in technology,branch networks and people, recruiting more than 1,500 employees.
On October 5, VIB's shareholders approved to cancel its trading on UPCOM. Thatwill allow the bank to list nearly one billion shares to Ho Chi Minh Stock Exchange next month.
Previously, the bank also got the approval of the State Bank of Vietnam todivide bonus shares at the rate of 20 percent for existing shareholders toincrease its charter capital to over 11 trillion VND.
For many years, VIB has always maintained its position as one of the leading banksin the trend of digital banking services with special emphasis on mobile phoneplatforms. VIB is the only bank in Vietnam that has won a customer experienceaward for four consecutive years and Digital Bank of the Year award forthree consecutive years by The Asset magazine.
The bank has launched a new version of MyVIB application andofficially applied e-KYC into issuing e-banking accounts for VIB customers,that allows registration and transactions on the phone after justa minute./.
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Transactions at VIB. — Photo courtesy of the bank 
