Seiji ImaiSenior Managing director of Mizuho Financial Group, a strategic shareholder of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) since 2011 with ownership ratio of 15 percent has just had a meeting with Vietcombank leaders. This is a high-level meeting, taking place in the framework of the regular meeting programme of the Cooperation Committee between Mizuho and Vietcombank.
Vietcombank leaders shared with Seiji Imai about the outstanding results of Vietcombank in 2018 as well as the orientations, development and growth goals of Vietcombank in 2019.
By the end of 2018, Vietcombank had strong developments in scale and quality, especially impressive and unprecedented business performance in the banking industry with the increase in profits of over 63%, reaching $500 million. Credit quality was effectively managed with non-performance loan (NPL) ratio below one percent, the lowest among credit institutions. This result contributed to enhancing Vietcombank’s reputation and increasing its share price in the stock market, thereby ensuring the interests of shareholders.
After annual meetings of the Cooperation Committee, technical assistance activities to improve the quality of Vietcombank’s human resources and business cooperation in areas such as Chinese yuan payment, deposits and foreign currency trading, etc. are actively implemented by both sides and progressed well.
Vietcombank representative shared: “The bank highly appreciates the trust and companion of strategic partner Mizuho in all fields, especially Mizuho’s participation in the capital increase in 2018. Vietcombank wants Mizuho continue to accompany Vietcombank in plans to increase capital in the future to maintain or increase the ownership rate at Vietcombank “.
Seiji Imai replied that the Group was committed to maintaining equity investment in Vietcombank. In addition to raising capital, he hoped that the two parties would continue to enhance technical and business cooperation activities to improve efficiency and operational models of both organisations on the basis of understanding each other after many years being strategic partners.
