Breakthrough growth in a challenging context

In 2024, the Vietnamese economy will face major difficulties such as declining growth, high interest rate pressure and fierce competition in the banking industry. In this context, Eximbank (EIB) not only maintained stability but also made a breakthrough with outstanding business results.

According to EIB's report, profit in 2024 will reach VND4,188 billion, up 54% compared to 2023. Total assets will increase by 18.9%, reaching VND239,532 billion. Outstanding loans will increase by 19.72%. Net profit from service activities will increase by 110.1% compared to 2023, reaching VND1,080 billion, profit from foreign exchange trading activities will increase by 38.7%, reaching VND674 billion.

In particular, the bank well controlled the safety indicators in operations according to the regulations of the State Bank (SBV) in the face of complicated developments of the economy: The ratio of short-term capital used for medium and long-term lending remained around 24 - 25%, lower than the SBV's maximum limit of 30%; the LDR ratio remained around 82 - 84% compared to the SBV's regulation of 85%; the capital safety ratio CAR fluctuated around the threshold of 12 - 13%, higher than the SBV's regulation of 8%.

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The unanimous efforts of the board of directors and staff have helped Eximbank achieve impressive business results in 2024. Photo: Eximbank

These figures contribute to affirming Eximbank's sound management strategy, flexible adaptability and strong commitment to serving customers. The bank has optimized operational efficiency, focusing on restructuring its loan portfolio in a safe and effective manner, especially in the SME and individual customer segments, and production, business and consumption needs. At the same time, Eximbank has proactively exploited opportunities from new and niche markets where the bank has a competitive advantage, and promoted the diversification of revenue sources, especially from non-credit activities such as payment services, foreign exchange trading, gold and effective bad debt handling. These solutions not only enhance the stability of business operations but also help the bank maintain its competitive position. In addition, strict management of operating costs and application of modern technology have contributed to improving operational efficiency and enhancing customer service capacity.

“The unanimous efforts of the board of directors and staff have helped Eximbank not only overcome difficulties but also strengthen the trust of customers, partners and shareholders. This is clear evidence of the sustainable development strategy that the bank is steadfastly pursuing,” the bank representative affirmed.

Increase charter capital - Strengthen financial capacity

One of Eximbank's notable milestones in 2024 is the State Bank's approval to increase its charter capital to VND18,688 billion. This is an important step forward, helping the bank consolidate its financial capacity, expand its scale of operations and improve its ability to meet capital safety standards according to international practices.

In 2024, the Asian Development Bank (ADB) increased the trade finance limit to 115 million USD, affirming Eximbank's reputation in the international financial market, while opening up opportunities for the bank to continue supporting Vietnamese enterprises in the field of trade finance and international payments. In particular, Eximbank has successfully raised international capital through the issuance of Tier 1 bonds in a private form, with a term of 5 years and no collateral. This success continues to affirm investors' trust in Eximbank's transparency, financial capacity, governance ability, as well as long-term development strategy.

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Eximbank was honored to receive the "Asia Pacific Enterprise Awards (APEA)" award in 2024. Photo: Eximbank

In addition, in 2024, Eximbank was also recognized with a series of prestigious awards such as: "Excellent International Payment Quality - STP Award" presented by the world's leading partner banks including: Bank of New York Mellon, Wells Fargo and JP Morgan; Asia Pacific Enterprise Awards (APEA) 2024; Sao Khue Award 2024 - in the field of digital banking; Outstanding Technology and Digital Transformation Product Award 2024; Top 10 Pioneering Enterprises in Outstanding Digital Technology Implementation in Vietnam 2024...

“With the achievements, Eximbank continues to affirm its commitment to accompany and develop sustainably with customers, shareholders, and partners, firmly on the path to conquer new goals, towards a prosperous future,” said an Eximbank representative.

Vinh Phu