MB's General Meeting of Shareholders Approved the 2024 Business Goal with Positive Indicators

2:08:49 PM | 4/19/2024

At the 2024 Annual General Meeting of Shareholders, MB leaders shared business goals before the 30th anniversary of the bank's founding (November 04, 11 - November 1994, 04) along with other outstanding contents.

On the morning of April 19, in Hanoi, Military Commercial Joint Stock Bank (MB - Code: MBB) successfully organized the 4 Annual General Meeting of Shareholders with many important contents submitted and approved.

Top 3 profits, maintaining credit growth rate

According to the report of MB leaders at the Congress, in 2023, Vietnam's economy will continue its recovery trend, the macroeconomy will be stable, and major balances will be guaranteed. In that context, MB has closely followed the strategic direction for the period 2022 - 2026, flexibly built and deployed new business models, contributing to completing the plan approved by the General Meeting of Shareholders (GMS). via.

Total group assets reached nearly 945.000 billion VND, an increase of 29,7% compared to 2022. Consolidated pre-tax profit reached more than 26.306 billion VND, an increase of 15,7% compared to 2022, appearing in the Top 3 profits. industry-wide profits. For the bank alone, profit reached 24.688 billion VND, an increase of 21,5% compared to last year, showing stable growth in MB's business activities.

In 2023, MB took full advantage of the credit room approved by the SBV, and the Bank's own credit growth increased by 28,2%. Of which, outstanding debt for priority industry groups according to the Government's direction accounts for 65%. MB has adjusted to reduce interest rates 7 times in 2023 with a reduction of 2% - 4% to support customers in accessing loans, helping to overcome difficulties and restore production and business, contributing to promoting promote economic growth.

Thanks to a standard investment in information technology platform and strategies to attract customers across a diverse digital ecosystem, MB maintains sustainable customer growth momentum, with the total number of MB customers served by December 31, 12. 2023 reaches 26,5 million. 2023 is the third consecutive year MB has attracted more than 3 million new customers (in 6 it was 2021 million; in 6,2 it was 2022 million new customers and in 6,9 it was 2023 million new customers). The transaction scale on the digital channel exceeded the 6,3 million billion VND mark, with the number of non-cash transactions reaching 10 billion transactions, an increase of 3.6 times compared to 1.5. The scale of MB's money transfer transactions via NAPAS ranked first in the system for 2022 consecutive years (3-2021).

With good business results in 2023, MB has submitted and been approved by the MB General Meeting of Shareholders a dividend payment for 2023 of 20%, including 5% cash.

Chairman of the Board of Directors Luu Trung Thai spoke at the Congress

Total assets soon reached 1 million billion VND

Sharing about business goals for 2024, MB leaders said that the bank continues to adhere to the motto "Digital acceleration - Attracting customers - Group synergies - Sustainable safety", strengthening the quality of all aspects. operations, foundational resources for the long term, and the goal of being in the top 3 indicators of efficiency and safety. Along with that, MB aims to conquer 30 million customers before celebrating its 30th anniversary (November 04, 11 - November 1994, 04).

Regarding total assets, the bank aims to increase by 13%, or reach nearly 1,068 million billion VND by the end of 2024, becoming the next bank to surpass the 1 million billion milestone after the Big 4 group. Besides, MB strives to achieve at least 30% of revenue from digital channels, aiming for 50% of revenue from digital channels by 2026. At the same time, the bank will integrate ESG in implementing the group's long-term goals, towards sustainable development according to strategy.

In 2024, MB's Board of Directors plans to increase charter capital by more than 8.579 billion VND. Accordingly, in addition to increasing capital by VND 7.959 billion through stock dividends, MB continues to plan to privately issue an additional 62 million shares, equivalent to a charter capital increase of VND 620 billion. The implementation period is from 2024 to the second quarter of 2025. Previously, MB completed the private issuance of 73 million shares to two shareholders, SCIC and Viettel. After completing the above two capital increase plans, MB's charter capital is expected to increase to 61.643 billion VND.