Kienlongbank set a 2018 profit goal of VNĐ405 billion

(04/27/2018)

2018 Annual General Shareholders Meeting was successfully held on 26th April 2018 in Rach Gia City (Kien Giang Province) and participated by Kienlongbank shareholders, holding 284,873,500 shares, corresponding to 96.18% of the voting shares.


Shareholders are fulfilling procedures for attending the 2018 Kienlongbank Annual General Shareholders Meeting

The Meeting was recorded with the shareholders’ approval for the 2017 Income Statement and 2018 business direction; 2018 profit distribution plan; auditor selection for the fiscal year 2018; chartered capital increase plan; election of members of the Board of Directors (BOD) and Supervisory Board (SB) for the period of 2018-2022 and other important contents under the shareholders’ authority.


A panorama of the Kienlongbank's Annual General Shareholders Meeting in 2018

With response to the guidelines released by of the State Bank of Vietnam, the Bank restructuring roadmap has been being launched in the second phase (2016-2020) by Kienlongbank. Following the great success of the five-year development strategy (in the period of 2013-2017), Kienlongbank is recorded with stable growth, reasonable profit and safe business index.

2017 witness Kienlongbank’s strong transformation when its shares were officially listed and traded on Upcom (ticker: KLB), facilitating the information transparency, improving liquidity of KLB shares for the shareholders, gradually launching the roadmap to officially list KLB shares on the trading floor in the coming time.

Kienlongbank's profit increased 66.32% in 2017

By the end of 2017, Kienlongbank has successfully completed business targets and gained an impressive growth compared to that in 2016: Total assets hit VNĐ37,327 billion, increasing 22.58%; total deposit reached VNĐ33,152 billion, increasing 25.73%; outstanding loans obtained VNĐ24,686 billion, increasing 24.89%; profit before tax gained VNĐ252.19 billion, fulfilling 100.88% compared to the 2017 plan; bad debt ratio decreased to 0.84%; share-based dividend yield was 5% and rate of issuing bonus shares to increase capital for existing shareholders from additional reserve fund to increase the chartered capital was 3%. The operational safety index was complied with SBCV’s regulations, many customer incentive offerings and programs were successfully initiated, the network of branches and transaction offices was spaciously expanded and invested, while employee’s living quality is constantly improved.

 

Shareholders adopt programs, content, voting rules, reports at the 2018 Kienlongbank General Shareholders Meeting

Planning a profit growth of 60.59% in 2018

With 2017 positive performance, the 2018 business plan targets of Kienlongbank was adopted by the General Shareholders Meeting, concretely: Total assets reached VNĐ44,000 billion, increasing 17.88%; total deposit hit VNĐ39,500 billion, increasing 19.15%; outstanding loans obtained VNĐ30,206 billion, increasing 22.36%; pre-tax profit reached VNĐ405 billion, increasing 60.59%; controlled bad debt ratio was under 2.5%; expected dividend yield was 8%. In addition, Kienlongbank will continue to expand its network and open more 17 branches, transaction offices with 134 transaction outlets in 28 provinces and cities, nationwide.


 Shareholders vote on voting papers and ballot papers

The General Shareholders Meeting also approved the plan to increase the Bank's chartered capital from VNĐ3,000 billion to VNĐ3,236.96 billion through the issuance of shares to existing shareholders. Whole funds raised from such share issuance are expected to invest in fixed assets, expansion of operational network and supplementing investment capital in profitable business.

By the end of Quarter I/2018, Kienlongbank's significant business performance has been acknowledged: total consolidated assets reached VNĐ39,395 billion (increasing 5.54% against 2017); total mobilized capital reached VNĐ35,095 billion (increasing 5.86% against 2017); outstanding loans reached VNĐ26,386 billion (increasing 6.89% against 2017); consolidated profit hit VNĐ73.80 billion.

Mr. Nguyen Van Kiet - Director of State Bank of Vietnam in Kien Giang Province delivered his directions at Kienlongbank’s 2018 Annual General Shareholders Meeting

Introduction of the new Kienlongbank's Board of Directors and Supervisory Board in the period of 2018-2022

Eight members of the Board of Directors and three members of the Supervisory Board for the new period of 2018-2022 were also unanimously elected by the General Shareholders Meeting, including: Ms. Tran Tuan Anh, Mr. Le Khac Gia Bao, Mr. Bui Thanh Hai, Ms. Nguyen Thuy Quynh Huong, Mr. Pham Tran Duy Huyen, Mr. Mai Huu Tin, Mr. Tran Van Trong and Mr. Le Trung Viet as members of the Board of Directors; Mr. Nguyen Cao Cuong, Mr. Nguyen Thanh Minh and Mr. Dang Minh Quan as members of the Supervisory Board.

At the first meeting of the Board of Directors and Board of Supervisors for the period of 2018-2022, members agreed to elect Mr. Le Khac Gia Bao as the Chairman of the Board of Directors; Mr. Mai Huu Tin as Vice Chairman of the Board of Directors, Mr. Pham Tran Duy Huyen as Vice Chairman of the Board of Directors and Mr. Nguyen Cao Cuong as Head of the Supervisory Board.

Members of the Board of Directors and Supervisory Board in the period of 2018-2022 are introduced at the General Shareholders Meeting

Mr. Le Khac Gia Bao was born in 1979, holding a Master's degree in Business Administration with more than 17 years of experience in Auditing and Finance and Banking. After more than 5 years working in Kienlongbank as the Head of the Supervisory Board, he has made many positive contributions to the Bank's operations in the period of 2013-2017.

Mr. Le Khac Gia Bao, New Chairman of Kienlongbank's Board of Directors, Representative of Kienlongbank's Board of Directors in the period of 2018-2022, delivered the speech at the General Shareholders Meeting

As a Doctorate in Business Administration, Mr. Mai Huu Tin, born in 1969, has extensive experiences in managing and operating large multidisciplinary businesses. He was the Vice Chairman of the Board of Directors in the period of 2013-2017 and he has made many significant contributions to the Bank's operations in the period of 2013-2017.

Mr. Pham Tran Duy Huyen, born in 1979, has a BA in Economics with more than 17 years of experience in accounting, finance, securities, banking, etc. After more than 5 years working in Kienlongbank as a Standing Member of the Board of Directors, he has made a series of significant contributions to the Bank's operations in the period of 2013-2017.

At the General Shareholders Meeting, the members of the Board of Directors have totally agreed (100%) to invite Mr. Vo Quoc Thang to continue to share and support the Board of Directors as a Kienlongbank Adviser for the period of 2018-2022 in particular and the Kienlongbank's Board of Management, staff, collaborators in general. In his speech, Mr. Vo Quoc Thang expressed his great devotion to Kienlongbank and accepted the offer as an advisor, affirming his ceaselessly loyalty and commitment to Kienlongbank in his new role.

Mr. Vo Quoc Thang - Chairman of the Meeting gave a closing remark and accepted the invitation to join as Kienlongbank Adviser

Mr. Nguyen Van Kiet - Director of the State Bank of Vietnam (left) and Mr. Mai Huu Tin - Vice Chairman of Kienlongbank (right) offered flowers to Mr. Vo Quoc Thang - Former Chairman of the Board of Directors.

Kienlongbank is currently supported by a solid foundation of qualified and extensively experienced human resources and team of experienced professional managers and more than 4,000 professional, devoted and enthusiastic staff and collaborators; diversified and cutting-edge products and services; nationwide network system; market advantage promoting and customers understanding, focusing on the retail banking segment, individual customers and rural areas. It is strongly believed that Kienlongbank shall successfully fulfill its 2018 business targets, becoming one of the top 15 retail banks in Vietnam in the near future.

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