GELEX has confirmed it will not participate in the management of the Vietnam Export-Import Bank (Eximbank), despite becoming its largest shareholder with a 10% stake. CEO Nguyen Van Tuan stated that this investment is a long-term strategic move aimed at generating profit rather than developing an ecosystem. GELEX is hiring consultants to improve the bank’s strategy without taking an active role in management, although they will intervene if needed to protect shareholder interests. In Q1 2025, GELEX reported a 16% revenue growth and a pre-tax profit of approximately 600 billion VND, an increase of 58% year-on-year. In 2024, consolidated revenue reached 33,752 billion VND, and pre-tax profit was 3,613 billion VND, exceeding planned targets. GELEX plans a 5% dividend payout for 2024, including cash and shares, with a further 10% dividend planned for 2025. The group aims to expand its markets in electrical equipment, renewable energy, clean water, and new industrial park developments.
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