The Vietnam International Bank (VIB) posted pre-tax profit of over 1.66 trillion VND (72 million USD) in the third quarter of 2020, up 30 percent month-on-month and 52 percent year-on-year, according to its third quarter 2020 financial report published recently.
Hanoi (VNS/VNA) -The Vietnam International Bank (VIB) posted pre-tax profit of over 1.66trillion VND (72million USD) in thethird quarter of 2020, up 30 percent month-on-month and 52 percentyear-on-year, according to its third quarter 2020 financial reportpublished recently.
In the first nine months of this year, VIB's total revenue surpassed 7.85trillion VND, up 34percent year-on-year. Of which, its fee income reached more than 1.63 trillion VND, accounting for 21percent of total revenue.
During the period, the bank's pre-tax profit saw a yearly increase of 38percent to over 4 trillion VND. Its return on equity ratio (ROE) was 28.9percent, among the highest in the banking industry.
As of September 30, 2020, the bank's total assets reached over 213 trillion VND while itscredit over 151 trillion VND, up 14.2 percent year-over-year, triple the industry average,according to the data.
From January to September, the bank has continued to invest in technology,branch networks and people, recruiting more than 1,500 employees.
On October 5, VIB's shareholders approved to cancel its trading on UPCOM. Thatwill allow the bank to list nearly one billion shares to Ho Chi Minh Stock Exchange next month.
Previously, the bank also got the approval of the State Bank of Vietnam todivide bonus shares at the rate of 20 percent for existing shareholders toincrease its charter capital to over 11 trillion VND.
For many years, VIB has always maintained its position as one of the leading banksin the trend of digital banking services with special emphasis on mobile phoneplatforms. VIB is the only bank in Vietnam that has won a customer experienceaward for four consecutive years and Digital Bank of the Year award forthree consecutive years by The Asset magazine.
The bank has launched a new version of MyVIB application andofficially applied e-KYC into issuing e-banking accounts for VIB customers,that allows registration and transactions on the phone after justa minute./.
Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
Despite a credit slowdown in the first half of 2020, some private commercial banks have still asked the State Bank of Vietnam (SBV) for a credit growth expansion to prepare for a peak lending season expected at the end of the year.
Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital.
Banks are pushing the sale of life insurance products (bancassurance) in the context of low credit growth since the beginning of this year due to the impacts of the COVID-19 pandemic.
All service vessels and out-of-province fishing boats docking at fishing ports in Lam Dong province will undergo 100% inspection to ensure compliance with paperwork, port entry/exit procedures, and fishing log requirements. Their positions and voyages will be tracked around the clock from departure to return via the VMS.
The roadmap to restrict the use of petrol-powered vehicles and encourage green ones in such major cities as Hanoi and Ho Chi Minh City is creating a strong boost to the EV market.
The Ministry of Industry and Trade is drafting a scheme on diversifying imported raw material sources for domestic production, with feedback from industry associations and businesses being incorporated into concrete proposals and support policies.
Notably, the hybrid segment recorded the strongest growth, with 7,112 units sold, a 72% year-on-year increase. The figures reflect a shift in consumer preference towards more environmentally friendly vehicles.
The project rolled out 21 pilot models, from goat and pig farming to coffee cultivation and the adoption of agricultural technology, helping farmers beef up production, spruce up livestock facilities, and improve market linkages.
Vietnam is ready to serve as an important gateway for Korean enterprises to enter the Southeast Asian market. Korean firms with experience and advanced technology to engage in energy transition and national infrastructure modernisation, said Party leader To Lam.
Two-way trade between Vietnam and Cambodia topped 7 billion USD in the first seven months of the year, up 16.3% against the same time last year. Vietnam’s exports to Cambodia hit 3.2 billion USD, rising 5.1%, while imports rose 28.1% to 3.8 billion USD.
The event took place within the Vietnam–RoK Economic Forum which is part of the Vietnamese leader’s state visit to the RoK. The documents span areas including energy, digital infrastructure, manufacturing, logistics, tourism, finance, and high-quality personnel training.
According to the Ministry of Agriculture and Environment, in May, June, and July, the country exported 7,745 batches of fresh durians totaling over 207,000 tonnes, more than 10 times higher than in the first four months of the year, as well as 560 batches of frozen durians weighing nearly 16,000 tonnes, up almost 64.3%.
The global bicycle market is projected to reach 69 billion USD by 2029, growing at 4.2% annually, according to consultancy and market research company Mordor Intelligence.
After a challenging first quarter, during which many companies recorded losses, the Vietnamese cement market has experienced a remarkable recovery, with several firms unexpectedly reporting substantial profits in the second quarter of 2025.
The Party leader said Vietnam is continuing to improve its institutions, enhance the investment and business environment, and address bottlenecks to unlock resources and push ahead with economic restructuring in tandem with renewing the growth model.
Export value to Thailand reached 33 million USD in the first six months, accounting for 10% of Vietnam’s total squid and octopus export revenue and making Thailand the country’s fourth-largest single export market.
Large-scale projects invested by Korean investors in strategic sectors such as semiconductors and energy are poised to give a strong boost to foreign direct investment (FDI) inflows into Vietnam, creating momentum to attract more high-value projects from global investors.
The recent administrative merger offers a unique opportunity to establish a unified and synchronised logistics system, turning the Southeastern Key Economic Region into a high-performing hub for trade, investment, and marine economy.
Vietnam’s state budget revenue from import-export activities reached over 261.37 trillion (9.97 billion USD) in the first seven months of 2025, equivalent to 63.6% of the annual estimate and 55.6% of the targeted goal, marking a 9.1% increase year-on-year, the Department of Customs reported.
Experts warned that excessive capital concentration in high-risk sectors like real estate and securities, risks of imbalances and non-performing loans could increase.
Demand for durians in the Chinese market is surging, prompting growing interest among importers in seeking supply from Vietnam. With its geographical proximity, short transport time and distinctive flavour, Vietnamese durian is highly regarded for both quality and long-term growth potential.
Transactions at VIB. — Photo courtesy of the bank 
