Vietcombank organized a discussion with investors about business results in the fourth quarter of 2023

Representative of Vietcombank, Mr. Do Viet Hung – Member in charge of Vietcombank’s Board of Directors chaired the announcement and met with investors. At the meeting, the Investor Relations team of the Strategy Committee and the Secretary of the Board of Directors provided overview information about the world and Vietnam macroeconomics in 2023 as well as updated Vietcombank’s business operations. in the fourth quarter and the whole year 2023. At the same time, Vietcombank also shared comments on world economic developments and financial markets and Vietcombank’s development orientations and prospects in 2024.

Vietcombank assesses that Vietnam has passed 2023 with positive macroeconomic results with a GDP growth rate of 5.05%, among the fastest growing economies in the world with significant contributions. included in disbursement of public and commercial investment and attracting FDI direct investment capital.

The Government of Vietnam and the State Bank have managed the macroeconomy stably, controlled inflation strictly and flexibly, the exchange rate was stable, FDI disbursement capital was estimated at 23.18 billion USD, recorded as the highest level of performance in the past 5 years.

With the determination and efforts of the whole system, Vietcombank has successfully completed key business targets and continues to maintain the No. 1 position in the banking system in terms of operational efficiency with controlled asset quality. Good. In 2023, Vietcombank’s pre-tax profit will reach a record of 41.2 trillion VND, the highest in the industry with return on average equity (ROAE) maintaining a high level (~21.7%).

Regarding risk management, in the context of the volatile domestic and world economic situation, Vietcombank continues to maintain a prudent operating stance, well controlling asset quality, reflected in the bad debt ratio. at 0.98%, the lowest among large-scale banks in the market.

Entering 2024, the world economy is forecast to gradually stabilize but there are still many potential risks. Vietcombank estimates that Vietnam’s economic outlook in 2024 will be more optimistic than the world’s economic outlook thanks to the effective and timely management efforts of the Government and the State Bank that continue to be effective.

In the context of the above domestic and international situation, Vietcombank sets a growth target for 2024 in accordance with the country’s overall growth target; Thoroughly grasping the action motto: “Transformation, Efficiency, Sustainability”, the operating direction perspective “Responsibility – Aggressiveness – Creativity” to successfully implement business goals. Vietcombank always appreciates the investor community’s interest in quarterly events. This is a good opportunity to enhance the exchange and provision of information between banks and investors. Vietcombank will continue to coordinate with investors to continue to have updated information on business operations as well as investment prospects in Vietcombank.

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