VietinBank set out business plan and dividend payout plan for 2024 Shareholders' Meeting
VIETNAM, April 19 -
HÀ NỘI — Việt Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank, stock code: CTG) is preparing to present a business plan and propose dividend payout plan at the 2024 Annual General Meeting of Shareholders.
For the period spanning 2024 to 2029, VietinBank sets an annual growth target of 9-10 per cent in total assets, credit balance and mobilised capital. The bank also aims for a return-on-equity (ROE) ratio of between 16-18 per cent while keeping the bad debt ratio below 2 per cent.
In the year 2024 alone, CTG projects to achieve an 8-10 per cent increase in total assets. Credit balance will be managed within the limits approved by the State Bank, and mobilised capital will align with credit growth. The bank aims to maintain a controlled bad debt ratio below 1.8 per cent.
CTG posted an after-tax profit of nearly VNĐ19.5 trillion (US$780 million) in 2023. After allocation of necessary funds, CTG retained VNĐ13.9 trillion, earmarked for stock dividend payments, subject to approval by relevant State agencies.
CTG shares dropped 3.4 per cent to close Friday at VNĐ31,600 ($1.26) per share. — VNS
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