Vietnam Export Import Joint Stock Commercial Bank (Eximbank, coded EIB) has just announced 2018 business plan.
This is also the second year that Eximbank carries out this project with the expectation of a comprehensive restructuring strategy of this bank. Eximbank expects to earn 1.6 trillion dong profit in 2018, an increase of 1.5 times from the profit achieved last year. Looking back the past six years, if the plan can be completed, this is the highest profit level of this bank since 2011.
Under the plan, the total assets at the end of 2018 are targeted to increase 19 percent to 178 trillion dong. The capital mobilisation is expected to increase by 30.5 trillion dong, equal to the growth rate of 26 percent. The capital mobilisation plan this year is much higher than 2017 (17.2 percent) and in fact, the annual deposit growth last year only hit 14.4 percent.
The aforementioned capital mobilisation plan is assessed to be rather brave as this bank is caught up in many cases related to customers’ deposits, of which, the two sides still cannot reach a common consensus with the amount worth 245 billion dong of Chu Thi Binh, wife of Minh Phu Seafood JSC.
Meanwhile, Eximbank’s outstanding loans are expected to grow 12 percent only. Similar to Eximbank, many other banks are also assigned with lower credit growth target than the previous year. The room for the system’s outstanding loans in 2018 is 17 percent, lower than the growth rate of the previous year (18.17 percent).
