Vietnam International Bank (VIB) has published Financial Statements FY20, a year with many prosperities in terms of growth rate, quality, and high technology. As of December 31, 2020, VIB's total assets grew strongly, reached VND245 trillion, increased 33% compared to 2019. Credit growth has been on the good trend with total exposure was VND171 trillion. This is one of the banks that has the highest retail credit portfolio, accounting for 84% of total credit, with low concentration risk and over 95% of retail loans book is secured loan. Non-performing loans plummeted to below 1.5% and no outstanding loans at VAMC since 2018. Non-interest income was over VND2,700 billion, accounting for 24% of total operating income and 41% increase compared to 2019. VIB has increased its investment in the application of modern technology, Big Data, AI, and Cloud computing to drive businesses to adapt to the drastic change of customers' demand for cashless payments in the new age. Hence, VIB has achieved a breakthrough growth of 300% in the number of customers registering for digital banking through MyVIB application, helping VIB's customers reached over 3 million. In 2020, the bank applied new modern technologies such as e-KYC, e-Signature into the credit card approval and issuance process. It takes only 15-30 minutes for application to be fully approved. The bank is also seen as leading bank in terms of growth in the number of credit cards and card spending in 2020, about 1.5 to 2 times higher than the industry average according to Mastercard report. Focusing on developing service quality, transaction banking, and digital banking in recent years, VIB's non-credit activities have grown strongly, especially CASA, credit cards, and Bancassurance. CASA balance increases by 30%, especially retail banking CASA grew impressively with 72% growth in 2020. The bank's profit before tax was VND5,800 billion, increased 42% compared to 2019. After 4-year-transformation out of 10-year roadmap of 2017-2026 with a basis of flourish and sustainable business, the 5th year, 2021 is believed that the bank will be in the momentum of these successes, will keep the leading position in retail banking segment along with technology investment and achieve more challenging business goals in 2021. SOURCE: Vietnam International Bank