Vietnam’s Eximbank targets VND5 trillion in pre-tax profit in 2023

, Vietnam’s Eximbank targets VND5 trillion in pre-tax profit in 2023


Vietnam Commercial Joint Stock Export Import Bank, which trades EIB shares on the Hochiminh Stock Exchange (HOSE), has set ambitious goals for 2023, with plans to increase its total assets by 13.5% to VND210 trillion and pretax profit by 34.5% to VND5 trillion.

The bank also aims to increase its cash deposits by 11% to VND165 trillion and outstanding debt by 12.3% to VND146.6 trillion.

In 2022, the bank outperformed its targets, thanks to a sharp reduction in its bond portfolio and a focus on lending to businesses and consumers.

The bank’s asset value increased 11.6% to VND185 trillion, cash deposits rose to VND148.6 trillion, and before-tax profit more than doubled to VND3.7 trillion, exceeding its full-year target by 48%.

On March 20, the EIB stock dropped by 4.09% to VND18,750, its second consecutive losing session, while the VN-Index on the southern bourse fell 2.11% to 1,023.1, with 369 decliners and 48 advancers.

The HOSE saw over 567.3 million shares worth VND9.7 trillion traded, with block deals accounting for around 91 million shares worth over VND1.7 trillion.

The Hanoi Stock Exchange’s HNX-Index also closed down 1.39%, with 51 winners and 127 losers, and over 54.5 million shares worth VND800 billion traded.

The most active stock of the day was HPG, with nearly 23 million shares changing hands.

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