Vietnam Joint Stock Commercial Bank for Industry and Trade 2020 AR2
The report highlights VietinBank's performance in 2020, during which the company successfully completed its Restructuring Plan for the 2016-2020 period and met Basel II capital adequacy ratio requirements. Despite the challenges of the COVID-19 pandemic, the bank achieved a consolidated profit before tax of VND 17,085 billion, representing a 45% increase year-on-year. VietinBank actively supported the economy by lowering lending rates and offering fee exemptions for affected businesses, while also buying back all outstanding VAMC special bonds. Additionally, the company advanced its digital transformation with significant user growth on its iPay Mobile and eFAST platforms and contributed nearly VND 400 billion to social welfare initiatives.
Company: Vietnam Joint Stock Commercial Bank for Industry and Trade
Sector: Financials
Country: Vietnam
Year: 2020
Type: AR2
Pages: 117
Vietnam Joint Stock Commercial Bank for Industry and Trade
Annual Report
The report highlights VietinBank's performance in 2020, during which the company successfully completed its Restructuring Plan for the 2016-2020 period and met Basel II capital adequacy ratio requirements. Despite the challenges of the COVID-19 pandemic, the bank achieved a consolidated profit before tax of VND 17,085 billion, representing a 45% increase year-on-year. VietinBank actively supported the economy by lowering lending rates and offering fee exemptions for affected businesses, while also buying back all outstanding VAMC special bonds. Additionally, the company advanced its digital transformation with significant user growth on its iPay Mobile and eFAST platforms and contributed nearly VND 400 billion to social welfare initiatives.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Women in Management
Employees