Representative from VIB receives the award. (Photo: VIB) Hanoi (VNA) - Vietnam International Bank (VIB) haswon the “Bank of the Year 2016” award, making it the first local bank toreceive the prestigious award for two consecutive years.
The award was presented by The Banker (Financial Times) magazine in London(United Kingdom) on December 7.
In addition to VIB’s efforts in business operations reflected by Tier 1capital, total assets, net profit, return on equity (ROE) and non-performingloan ratio, The Banker highly praised the bank for its transparent managementmodel, sustainable growth strategy, and efficient support for Start-up andsmall and medium-sized enterprises.
Besides, VIB’s application of advanced banking technologies, continuousinnovation, and efficient and effective marketing activities during the yearbased on its understanding of market segments were also well recognised by TheBanker, which then helped the bank make a difference on the market.
Over past 10 months, the bank’s total assets and capital adequacy ratio (CAR)reached more than 93 trillion VND (over 4 billion USD) and 14.46 percent,respectively and the bank's equity reached 8.38 trillion VND, while itsnon-performing loan ratio decreased sharply to 1.49 percent.
VIB is one of the few local banks selected by the State Bank of Vietnam (SBV)to pilot Basel II. Among the banks selected for pilot implementation of theBasel II, VIB has the highest readiness level with its CAR of approximately 13 percentaccording to Basel II standards. Specifically, VIB’s advanced technologyplatform is also well in place for Basel II.
Previously, VIB was approved by SBV to increase its charter capital to morethan 5.64 trillion VND in a move to help expand the bank’s business activities.
In the latest report by Moody’s, VIB had its credit rating upgraded to B2,making it continue to be in the top banks with the leading credit ratings inthe market.
The “Bank of the Year” award is exclusively granted to the top bank in eachcountry. It is the world’s longest running and most prestigious internationalbanking title.
Each year, The Banker selects one winning bank for each of the countriesjudged. Over 1,000 applications from 154 countries are collected and judgesselect winning banks based on evidence provided to determine the bank in eachcountry which saw the maximum overall progress in the past 12 months.
The judging is carried out by an editorial committee on the basis of submittedentries, data from The Banker's Top 1000 database and the editors' personalknowledge of the market.-VNA
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