VietinBank sets pre-tax profit target of VND 26,300 billion for the whole year 2024

Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank - HoSE: CTG) has just announced the Resolution of the Board of Directors approving and officially announcing the bank's 2024 business plan targets.

Accordingly, in 2024, the bank aims to increase total assets from 8% to 10%. Outstanding credit is implemented according to the limit approved by the State Bank and the credit management policy orientation of the State Bank in each period.

Mobilized capital is consistent with credit growth rate, ensuring safety ratios according to the regulations of the State Bank. The bank's bad debt ratio according to Circular 11 is below 1.8%. VietinBank sets a target of pre-tax profit of VND 26,300 billion. Operational safety ratios comply with the regulations of the State Bank.

VietinBank sets a target of VND26,300 billion in pre-tax profit in 2024.

Previously, at the Annual General Meeting of Shareholders held in April 2024, all of the above targets were approved, except for the separate pre-tax profit plan at that time proposed by the bank, which was approved by the competent State agency.

Regarding business performance, at the end of the first 6 months of 2024, VietinBank recorded net interest income of VND 30,513 billion, up 20%. The bank reported pre-tax net profit of VND 12,960 billion, and after-tax profit of VND 10,412 billion, up 3% compared to the first 6 months of 2023. Thus, after the first half of the year, the bank has achieved 49% of the set profit target.

During the period from 2024 to 2029, VietinBank expects the growth rate of total assets, outstanding credit and mobilized capital to reach 9 - 10%/year. The bad debt ratio will be controlled below 2% and the capital safety ratio will be guaranteed according to regulations.

On October 17, VietinBank plans to hold the 2024 Extraordinary General Meeting of Shareholders in person at VietinBank Human Resources Training and Development School, An Trai Village, Van Canh Commune, Hoai Duc District, Hanoi .

The last registration date to exercise the right to attend the Extraordinary General Meeting of Shareholders is September 16, 2024. The General Meeting of Shareholders is expected to elect additional members of the Board of Directors for the 2024 - 2029 term and other contents according to the provisions of law and the Bank's Charter (if any).

The candidate nominated for election to the bank's Board of Directors for the 2024 - 2029 term is Mr. Nguyen Tran Manh Trung - Deputy General Director of VietinBank.

According to information provided by the bank, Mr. Nguyen Tran Manh Trung was born on September 21, 1983, with a bachelor's degree in Banking and Finance from the National Economics University (2001-2005) and a master's degree in Banking and Finance from the Banking Academy (2016-2018).

Mr. Trung has nearly 20 years of experience in the field of finance and banking. From 2005 to present, he has held many different roles and positions while working at VietinBank.

On VietinBank's website, the bank's Board of Directors currently has 9 members with the Chairman of the Board of Directors being Mr. Tran Minh Binh.

Source: https://www.nguoiduatin.vn/vietinbank-chot-muc-tieu-lai-truoc-thue-26300-ty-dong-ca-nam-2024-20424100918584365.htm