VietinBank 2024: Outstanding growth - Entering a new era

Việt NamViệt Nam09/01/2025

On January 6, 2025 in Hanoi, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank/VietinBank) held a Conference to review Party work, business activities (BOC) in 2024 and deploy tasks for 2025. Reports at the Conference showed that in 2024, VietinBank successfully completed all aspects of Party building work, completed and exceeded the plan set by the General Meeting of Shareholders (GMS), thereby creating a solid foundation for breakthrough growth in 2025.
Comprehensive leadership of the Party At the Conference, the achievements of the Party Committee and the VietinBank system in 2024 were highlighted through: Report on the results of Party building work in 2024; Report summarizing business activities in 2024 and deploying business tasks in 2025; Report summarizing inspection and supervision work. Accordingly, in 2024, the Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade promoted its comprehensive leadership role in all activities; resolutely and persistently led and directed the effective and sustainable implementation of business activities; upheld the principles of democratic centralism, discipline and discipline ; promoted the spirit of solidarity, proactiveness and creativity of cadres, party members and employees of the entire system in implementing the goals and tasks according to the Resolutions of the Party Congresses at all levels, the Resolution of the 10th Congress of the Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade, and was an important premise towards the Party Congresses at all levels for the 2025-2030 term.

Chairman of the Board of Directors Final Comrade Tran Minh Binh - Member of the Party Committee of the Central Enterprises Bloc, Party Secretary, Chairman of the Board of Directors of VietinBank delivered the opening speech at the Conference - Photo: XN

In the work of Party building, determining stability as a premise for development, in 2024, the Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade will prioritize: (i) Focusing on perfecting the organization according to Regulation No. 87-QD/TW, dated November 16, 2022 of the Secretariat on the functions, tasks, and organizational structure of the Party Committee at the grassroots level in State-owned enterprises and enterprises with State-owned capital ; (ii) Leading the improvement of the quality of activities of subordinate Party organizations after taking over and (iii) Focusing on preparing well the conditions for successfully organizing Party congresses at all levels towards the 11th Congress of Delegates of the Vietnam Joint Stock Commercial Bank for Industry and Trade Party Committee, term 2025 - 2030.

Mr. Cuong

Comrade Tran Kien Cuong - Standing Deputy Secretary of the Party Committee presented the Summary Report on Party Work in 2024. Photo: XN

The Party Committee of the Vietnam Bank for Industry and Trade continues to lead the serious, quality and effective implementation of political and ideological education work. Timely organize 8 conferences to study, disseminate and thoroughly grasp the directives and resolutions of the 13th Central Conference and regulations and study topics according to the plan and requirements of the Party at higher levels. Innovate the content, methods and forms of teaching and learning 8 political theory training courses for the subjects and organize 2 conferences to train professional Party work and Party congress organization work for Party committees and affiliated Party organizations to meet the requirements of the task. Improve the effectiveness of propaganda and press work through the methodical organization of the Composition Contest in response to the Golden Hammer and Sickle Award of the Party Committee of the Central Enterprises Bloc (with 1,100 entries) and respond to the Political Essay Contest on protecting the Party's ideological foundation in 2024 (with 378 entries) bringing high spreading value.
Party committees at all levels were reviewed and consolidated to ensure reasonable numbers and structures, meeting the standards and conditions before the congress. The Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade promptly adjusted the Personnel Project of the Party Executive Committee (EC) and the Standing Committee (SBC) of the Party Committee for the 2020-2025 term; consolidated the position of Deputy Secretary of the Party Committee at the same time as the position of General Director of VietinBank ; consolidated and supplemented the position of Chairman of the Inspection Committee (IC) of the Party Committee, consolidated and supplemented 3 members of the Party Standing Committee , 5 members of the Party Executive Committee , 1 member of the IC to hold the position of Deputy Chairman of the IC .

Awarding Ceremony for Solidarity Work

The Party Committee of the Central Enterprises Bloc handed over decisions on personnel work - Photo: XN

Within the framework of the Conference, the Party Committee of the Central Enterprises Bloc presented the Decision on appointing additional members of the Party Committee, the Decision on approving the Standing Committee member of the Party Committee and the Decision on approving the member of the Inspection Committee, Chairman of the Inspection Committee of the Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade for the term 2020 - 2025. The era of growth Promoting the role of a large State-owned commercial bank, VietinBank has pioneered in implementing the directions and orientations of the Party, the Government and the State Bank of Vietnam (SBV) in operating monetary policy, stabilizing exchange rates, interest rates and controlling inflation, reducing operating costs, creating conditions for further reduction of lending interest rates, supporting economic recovery and growth. Many solutions to promote business according to key topics, removing bottlenecks in mechanisms and policies have been drastically implemented by VietinBank to improve operational efficiency; effectively implementing the business plan assigned by the General Meeting of Shareholders and the SBV. Besides, VietinBank is also one of the units selected by the State Bank to promptly and effectively support gold price stabilization.

Sep Trung

Comrade Nguyen Tran Manh Trung - Deputy Secretary of the Party Committee, Member of the Board of Directors and General Director of VietinBank presented the Business Performance Summary Report for 2024 and Business Task Implementation for 2025. Photo: XN

With determination and outstanding efforts, the business performance of the VietinBank system has achieved and exceeded the 2024 plan targets with impressive growth: - VietinBank's total assets increased by 17%; revenue grew positively, profit reached and exceeded the set plan. - Accelerating the shift in income structure: Non-interest income contributed nearly 27% of total operating income with the main driving force from core businesses including: Guarantee fees, payments...; in which the growth rate of guarantee fees led the whole market (reaching 35%). - Outstanding credit grew by 16.88% compared to 2023, higher than the average growth rate of the entire Banking Industry and maintained stable growth throughout the year. - Total mobilized capital reached 1.8 million billion VND, an increase of 15% compared to the end of 2023. CASA scale grew by 30% compared to the average in 2023. CASA proportion reached 24.1% by the end of 2024, supporting the improvement of capital costs and enhancing VietinBank's competitiveness. - Paying the State Budget 8.6 trillion VND, an increase of 33% compared to 2023 and always being in the Top 10 Enterprises paying the highest State Budget. Focusing all resources on implementing the Digital Transformation Program, in 2024 VietinBank completed the important "run-up" phase with 45 initiatives prioritized for implementation. The birth of the Digital Factory in June 2024 has become an important highlight, applying the Agile working method to shorten the time to launch products, services and continuous improvement, bringing optimal experience to customers. Promoting the spirit of sharing, VietinBank has devoted many resources to social security work, bringing good values ​​to society and the community. Accordingly, VietinBank has spent more than 500 billion VND to carry out social security work, poverty reduction, and gratitude in 63 provinces and cities nationwide.

Final Countdown

Overview of the Conference - Photo: XN

Entering the " Era of national development", VietinBank identified 9 key tasks in business activities. At the same time, VietinBank continues to drastically implement measures to promote business activities, closely following the orientation and direction of the Government, the State Bank as well as market developments in parallel with implementing policies to support people and businesses. At the Conference, the leaders of the Party Committee of the State-owned Enterprises Bloc and the State Bank acknowledged, highly appreciated and commended the results achieved by the Party Committee of the Vietnam Joint Stock Commercial Bank in 2024. The leaders of the Party Committee of the State-owned Enterprises Bloc and the State Bank requested VietinBank to continue to promote its role as a state-owned commercial bank to perform well the leading role in leading the market; thereby, exceeding the business plan set for 2025. Receiving the instructions of the Party Committee of the Central Enterprises Bloc and the State Bank, Comrade Tran Minh Binh - Member of the Executive Committee of the Party Committee of the Central Enterprises Bloc, Party Secretary, Chairman of the Board of Directors of VietinBank affirmed: The Party Committee of the Vietnam Joint Stock Commercial Bank will continue to make efforts and promote the achieved results; closely follow and fully and seriously implement the policies and directions of the Central Committee, the Party Committee of the Central Enterprises Bloc, and the State Bank in implementing all aspects of activities to build a "Comprehensively clean and strong Party Committee", with the key task in 2025 being to successfully organize the 11th Congress of the Party Committee of the Vietnam Joint Stock Commercial Bank for Industry and Trade, term 2025 - 2030. At the same time, VietinBank looks forward to receiving the support of all levels, sectors, agencies, partners, customers, along with the efforts and high concentration of the entire system so that VietinBank can continue to develop and achieve more success in 2025 and the following years. 2025 is an important milestone, affirming an innovative, creative, customer - centric VietinBank that is always ready to adapt to lead , open up opportunities for sustainable development, take off with the country into a new era - "The era of national growth".
Source: https://www.vietinbank.vn/vi/tin-tuc/tin-tuc-va-su-kien/vietinbank-2024-tang-truong-vuot-troi-tien-buoc-vao-ky-nguyen-moi-20250108070404-00-html

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