Vietcombank (VCB), the most valuable bank in Vietnam, recently set two records in one day. VCB shares surged over 3%, reaching a peak of 66,700 VND/share, while the market capitalization exceeded 557 trillion VND (22 billion USD), confirming its position at the top of the Vietnamese stock exchange and making it the first bank to reach a market cap of half a trillion VND. On March 13, Vietcombank will finalize the shareholder list to distribute a 49.5% stock dividend for 2023, increasing the circulating shares to nearly 8.36 billion, the largest in the stock market. Following the issuance, the charter capital will rise from 55.891 trillion VND to about 83.557 trillion VND. In 2024, Vietcombank’s profit is projected to reach 33,853 billion VND, with credit growth at 13.7% and total assets surpassing 2 trillion VND for the first time. However, non-performing loans also increased by 11%, with a slight reduction in the non-performing loan ratio to 0.96%.
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