Friday, November 8, 2024 4:19:24 PM - Markets closed
VN-INDEX 1,252.56 -7.19/-0.57%
HNX-INDEX 226.88 -0.61/-0.27%
UPCOM-INDEX 92.15 -0.17/-0.18%
VIB: Raises $260 million in international syndicated loans
Vietnam News - 3/21/2022 3:24:51 PM
 (0 ratings. You must sign in to rate.)
VIB has raised US$260 million in international syndicated loans from the Asian Development Bank (ADB), United Overseas Bank Limited (UOB) and nine Asian financial institutions.
 
The funding comprises a direct ADB loan of $100 million and a syndicated loan of $160 million arranged by ADB and United Overseas Bank Limited (UOB) from nine banks headquartered in mainland China, Thailand, Taiwan, India, Cambodia and Singapore.
 
The syndicated loan agreement is expected to enhance access to finance for small and medium-sized enterprises (SMEs), individual businesses and promote capital financing for quality housing for individual customers in Việt Nam, VIB said in a statement. 
 
According to the agreement, VIB also cooperates with ADB to implement the Technical Assistance (TA) programme for female entrepreneurs with a budget of $500,000 from the Women Entrepreneurs Financial Initiative Fund (WE-FI). This is the first TA grant provided in Việt Nam that exclusively helps a bank to promote women's entrepreneurship.
 
“The agreement affirms our existing partnership with ADB and the parties’ efforts in promoting financial access for individual and SME clients," said CEO of VIB Hàn Ngọc Vũ. 
 
"This is a very timely action, especially in the context that SMEs are in great demand for capital to restore and develop production and business after the COVID-19 pandemic, as well as contribute to the improvement of living conditions for individual customers,” Vũ said. 
 
ADB Director General for Private Sector Operations Suzanne Gaboury emphasised the vital role of banks in addressing the issues of financial access for SMEs and individual household borrowers, to ensure an inclusive and sustainable development path for Việt Nam.
 
She added this agreement is one item of the project to strengthen Việt Nam's banking sector and help financing access become easier to individual customers and SMEs.
 
The successful mobilisation of foreign capital contributes to affirming VIB's brand reputation in the international financial market. Particularly in Việt Nam, VIB has continuously led the industry thanks to a solid and effective foundation for business, operations, digital transformation and risk management, successfully transformed into a retail banking model with a retail lending ratio of nearly 90 per cent of the credit portfolio, twice the industry average.
 
In the five years from 2017 to 2021, VIB's pre-tax profit increased 11 times; capital and total assets both increased three times. Since 2018, VIB has continuously been on the top of the industry and far exceeded the industry average in terms of operational efficiency with the return on equity (ROE) in 2021 reaching 31 per cent, 1.7 times higher than the average of the industry at 18 per cent.
 
After more than one year of listing on the Hồ Chí Minh City Stock Exchange, VIB stock is highly appreciated for its positive growth rate. As of December 31, 2021, VIB's market capitalisation reached more than $3.2 billion, ranking in the top five in terms of market capitalisation among joint-stock commercial banks. — VNS
 
Read original article here
 
Newer News
03/12 FUEDCMID: Thông báo thay đổi giá trị tài sản ròng ngày 10/03/2024
03/12 FUESSVFL: Thông báo thay đổi giá trị tài sản ròng ngày 11/03/2024
03/12 FUESSVFL: Kết thúc giao dịch hoán đổi ngày 11/03/2024
03/12 E1VFVN30: Kết thúc giao dịch hoán đổi ngày 11/03/2024
03/12 FUEDCMID: Kết thúc giao dịch hoán đổi ngày 11/03/2024
03/12 FUEDCMID: Báo cáo hoạt động đầu tư năm 2023
03/12 E1VFVN30: Báo cáo hoạt động đầu tư năm 2023
03/12 FUEDCMID: Báo cáo tổng kết hoạt động quản lý quỹ năm 2023
03/12 E1VFVN30: Báo cáo tổng kết hoạt động quản lý quỹ năm 2023
03/12 LEC: Báo cáo kiểm toán nội bộ 2022
Older News
21/03 TDC: Report insider transaction
21/03 SSB: Notification affiliated person trade
21/03 RDP: Announcement of the change of listing
21/03 HPG: Notification insider transaction
21/03 GMH: RECORD DATE FOR CASH DIVIDEND OF 2021
21/03 EVG: Decision on the change of listing
21/03 DXG: Report insider transaction
21/03 ADG: Report insider transaction
21/03 HDG: RECORD DATE FOR CASH DIVIDEND OF 2021
21/03 YEG: Report on changes in ownership of major shareholder (Tran Uyen Phuong)
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,252.56 -7.19/-0.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.