Vietnam Export Import Commercial Joint Stock Bank (Eximbank - HoSE: EIB) has just announced its 2023 business results with total assets increasing by 8.8% compared to the beginning of the year to VND 201,417 billion; capital mobilization increased by 6.5% to VND 158,329 billion; outstanding credit increased by 7.6% to VND 140,524 billion.
Service activities such as foreign exchange, card, and remittance trading all grew compared to 2022; liquidity and safety indicators in operations are always well controlled and comply with the regulations of the State Bank. Eximbank reported pre-tax profit in 2023 of VND 2,720 billion, completing 54.4% of the annual plan.
The bank said that the reason for not achieving the plan was due to the influence of factors proactively reducing lending interest rates to support customers in accordance with the State Bank's policy to stimulate demand in the context of economic difficulties and to retain customers in the situation where banks are enticing customers to borrow capital.
The impact of high capital mobilization interest rates in the market in the last months of 2022 and the first quarter of 2023 has significantly increased the cost of paying deposit interest in 2023;
Bad debt increased due to customer difficulties, causing provisioning costs to increase, affecting Eximbank's profits.
Faced with difficult developments in the world and domestic economy, Eximbank has made efforts and achieved certain results.
Although the plan has not been reached, the main business indicators regarding the scale of operations have all grown and maintained the bank's operations to be safe and sustainable.
Eximbank has always accompanied and shared difficulties with customers. In 2023, Eximbank has repeatedly reduced lending interest rates to support customers in borrowing capital, restructured debt for customers according to Circular 02/2023/TT-NHNN, and reduced interest and fees to support customers with overdue debts to arrange debt repayment.
In addition, Eximbank has also promoted investment in digital technology transformation activities, cashless payment activities, and improved electronic banking products and services to ensure security and safety, increase convenience and customer satisfaction such as: Eximbank Ebiz for corporate customers, electronic chip-embedded Citizen Identification application on Eximbank Edigi channel, etc.
At the same time, Eximbank expands cooperation with service providers and payment intermediaries to diversify payment channels on the Digital Banking platform.
Although business performance has low growth, Eximbank still focuses on controlling the quality of operations well in the context of economic difficulties, and always maintains operations within the scope of ensuring safety ratios in operations in compliance with regulations of the State Bank .
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