The conference summarizing business activities in 2020 and implementing business plan for 2021 of Kienlongbank took place in Ho Chi Minh City in 02 days January 29, 2021 and 30 January 2021.
Ms. Tran Tuan Anh - Member of the Board of Directors, General Director of Kienlongbank delivered an opening speech and reported business results at the Conference
Ms. Tran Tuan Anh - Member of the Board of Directors, cum General Director of Kienlongbank said: “By the end of 2020, the total consolidated assets of Kienlongbank reached 57,282 billion VND, an increase of 12.09% compared to 2019. Total mobilized capital reached VND 52,071 billion, an increase of 12.22% compared to 2019; coutstanding credit reached 34,716 billion VND, increase 3.69% compared to 2019. Consolidated Profit before tax of Kienlongbank reached 158.21 billion VND, an increase of 84.14% compared to 2019 ”.
Mr. Vo Quoc Thang - Kienlongbank advisor shared at the Conference
In 2020, along with the general difficulties of the whole economy due to the impact of the Covid-19 epidemic, natural disasters, floods,... Kienlongbank has launched many solutions to accompany and support customers such as: interest exemption or reduction, rescheduling debt repayment terms, making new loans to support customers to restore production and business activities; implementing credit packages with preferential interest rates; adjusting many types of transaction fees.
The key goal that Kienlongbank sets in 2020 is to settle loans with collaterals are shares of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) under the Kienlongbank’s restructuring and bad debt settlement scheme approved by the State Bank. However, due to the unexpected appearance of Covid-19 in 2020, affecting the plan to handle STB shares, as of December 31, 2020, Kienlongbank has sold a portion of STB shares, reducing VND 369 billion bad debt. By that way, Kienlongbank's business result has not been achieved as the proposed plan.
Ms. Vo Thi Tuan Anh - Advisor Kienlongbank shared at the Conference
According to the General Director's report about handling of STB shares at the Conference, from January 1, 2021 to January 29, 2021, Kienlongbank continued to sell more STB shares. Kienlongbank's bad debt ratio has decreased to less than 3% and Kienlongbank has withdrawn 100% of related interest receivables, set up a risk reserve in accordance with regulations. Kienlongbank basically completed most of the contents in the restructuring plan associated with dealing with bad debts for the 2016-2020 period, which was approved by the State Bank of Vietnam. Kienlongbank also aims to complete the sale of all the above shares of STB and the payment of related debts no later than March 31, 2021.
The Advisory Committee, Mr. Mai Huu Tin expressed his gratitude to Mr. Le Khac Gia Bao (Former Chairman of the Board of Directors) and congratulated Mr. Le Hong Phuong - Chairman of the Board of Directors and Ms. Tran Thi Thu Hang - Vice Chairman of Kienlongbank's Board of Directors for the term of 2018 - 2022
With high determination right from the beginning of 2021, Kienlongbank has set the main targets for 2021 as follows: Total consolidated assets is 66,800 billion VND (increase 16.62%); mobilization in market 1 is VND 50,295 billion (increase 16.52%); outstanding credit is 44,600 billion dong (up 28.47%); profit before tax is 1,000 billion dong; the network of branches and transaction offices nationwide is 150 transaction points (increase 16 units). In 2021, Kienlongbank will actively promote the settlement of debts collateralized as STB shares and decrease the total bad debts of Kienlongbank to less than 2%/total outstanding loans; limit arising of new bad debts, strengthen inspection and supervision, improve management capacity, risk management; increase income from non-credit services; upgrade the core banking system, promote digital banking development according to the strategic direction of Kienlongbank in the period of 2021 - 2025. The business plan for 2021 will be completed by Kienlongbank and submitted to the Annual General Meeting of Shareholders in 2021 for discussion and decesion.
Mr. Le Hong Phuong - Chairman of Kienlongbank's Board of Directors for the term of 2018 - 2022
On January 30, 2021, the Board of Directors also met and voted for Mr. Le Hong Phuong to hold the title of Chairman of Kienlongbank's Board of Directors for the term of 2018-2022 from February 1, 2021. Thus, the Board of Directors for the 2018-2022 term of Kienlongbank will have the Chairman of the Board of Directors, Mr. Le Hong Phuong and 03 (three) Vice Chairmen of the Board of Directors, including Mr. Mai Huu Tin, Mr. Pham Tran Duy Huyen and Ms. Tran Thi Thu Hang.
Members of the Board of Directors of Kienlongbank
Members of Kienlongbank's Board of Directors
Ms. Tran Tuan Anh - Member of the Board of Directors, General Director of Kienlongbank gave the decision on business targets for 2021 to business units.
Previously, at the proposal of Mr. Le Khac Gia Bao, in order to promptly meet the management requirements in accordance with Kienlongbank's strategic direction of operation in the period of 2021 - 2025, we hope that Kienlongbank will constantly grow and develop sustainably. Realizing that the new member of the Board of Directors, Mr. Le Hong Phuong, has professional qualifications, capabilities and experience in banking governance operations, so Mr. Le Khac Gia Bao proposed to resign from the position of Chairman of the Board of Directors and nominated him. Le Hong Phuong holds the position of Chairman of the Board of Directors. After dismissing the position of Chairman of the Board of Directors, Mr. Le Khac Gia Bao continues to be a member of the Board of Directors for the term of 2018-2022.
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