Vietnam Public Joint Stock Commercial Bank (PVcomBank) has just held its 2024 annual general meeting of shareholders. In addition to reporting on the results achieved in governance, management, and business activities in 2023, PVcomBank passed many other important contents at the meeting.
In 2024, PVcomBank will continue to restructure according to the approved roadmap, control risks, and set appropriate business goals.
In 2023, the bank basically completed the set goals, the scale of operations grew selectively and sustainably, ensuring operational safety.
Specifically, as of December 31, 2023, compared to the whole year plan, consolidated revenue was 148.4%; consolidated pre-tax profit was 100.3%. For the parent bank alone, revenue and pre-tax profit achieved compared to the 2023 plan were 151.1% and 116.5%, respectively.
Compared to 2022, international payment and trade finance revenue recorded many positive signals with growth reaching 20%, foreign currency buying and selling revenue increased by 24%.
In the last months of 2022 and the first two months of 2023, mobilization interest rates continuously increased sharply. After the State Bank adjusted down the operating interest rates, PVcomBank flexibly managed capital mobilization activities.
As of December 31, 2023, the balance of capital mobilized from economic organizations and individuals reached VND 197,509 billion, a sharp increase compared to 2022, meeting business needs, ensuring liquidity and reducing capital costs of the bank. Total outstanding debt in 2023 reached VND 118,443 billion, a slight decrease compared to December 31, 2022.
PVcomBank has also focused resources on implementing the restructuring plan, strengthening debt collection with many drastic and synchronous solutions. As a result, the bank has recovered and processed 3,713.2 billion VND.
With the positive growth momentum of the economy in general, the banking industry is forecasted to have many prospects thanks to supporting factors. However, banks, including PVcomBank, still need to have a plan to respond to issues of increased credit risks and low credit growth when the capital absorption capacity of enterprises is still weak.
PVcomBank's goal in 2024 is to continue restructuring according to the approved roadmap, strictly control risks, set prudent business goals, in line with financial potential and based on assessments of market factors.
On that basis, PVcomBank reported and received approval from the congress on the business plan for 2024. In particular, the targets set for consolidated revenue and consolidated pre-tax profit are VND 19,334.5 billion and VND 108.5 billion, respectively.
To complete its business goals and plans, PVcomBank has identified five key solution groups: accelerating digital transformation; improving service quality; improving the efficiency of the risk management system; developing human resources and focusing on debt collection and settlement.
Along with its core business activities, PVcomBank focuses its resources on comprehensive digital transformation, improving service quality, and increasing customer service capabilities. The Bank has developed a digital transformation roadmap for the period 2025 - 2030 with the goal of increasing the proportion of transactions and operations conducted in the digital environment to 50% - 70% by 2025 and 70% - 90% by 2030. PVcomBank strengthens cooperation with partner IBM in developing an open banking system, working with Amazon to build a strategy to convert important applications to Cloud infrastructure to improve availability, scalability, optimize costs and minimize operational risks.
Source link
Comment (0)