On July 5, 2011, Vietnam Export-Import Bank (Eximbank) was honored to receive the "Best Annual Report 2011" award from the Ho Chi Minh City Stock Exchange and the Securities Investment Newspaper. The 2011 annual report voting attracted 650 businesses to submit annual reports. Of these, 37 annual reports were selected for the finals and the organizing committee selected 7 units to win the best annual reports of 2011. This is the second consecutive year that Eximbank is honored to receive this title.
Eximbank is considered one of the professional banks in disclosing information, promoting transparency and always achieving high efficiency in operations. The bank is also aware of the role of a business in disclosing information. Especially when Eximbank has listed its shares on the centralized stock exchange. Therefore, EIB shares are of interest and highly appreciated by investors, because of the Bank's liquidity and sustainable development. In recent years, although the market has had certain difficulties, the industry's operations have faced difficulties since the global financial crisis occurred and the negative effects still last to this day, but at Eximbank not only confidently overcome challenges but also gradually assert themselves in the Vietnamese financial market.
As one of the joint stock banks with a large charter capital (10,560 billion VND) and a plan to increase capital by 17% this year, Eximbank's operating targets must always be worthy. Therefore, there is a lot of pressure on the Board of Directors as well as the Bank's Executive Board to ensure benefits for shareholders. However, with the 2010 results of pre-tax profit of VND 2,378 billion, reaching 108% of the set plan, Eximbank is considered one of the banks that successfully completed the profit target, despite the market there are many difficulties.
According to the plan approved by the General Meeting of Shareholders at the annual shareholders' meeting in mid-April 2011, Eximbank set this year's profit target at VND 3,000 billion; The Bank's expected dividend payout to shareholders this year is 15%. To achieve the above results, Eximbank said that the Bank's Executive Board has operated operations flexibly, promptly catching up with fluctuating market trends to proactively respond, minimize risks, and enhance efficiency in business, to ensure sustainable and safe development of banking operations and maximize profits for shareholders. With the specific activities of the banking industry, according to Eximbank, transparency is inevitable and indispensable in business, especially when EIB shares have been listed on the HoSE stock exchange. The disclosure of information must be complete, accurate, and timely according to the provisions of law and that demonstrates information transparency.
Eximbank believes that this is the foundation of sustainable development, especially for banking activities. Therefore, the Annual Report is a special publication that always receives the attention of Eximbank's Board of Directors and is produced by the Bank itself in both content and form. Specifically, in terms of content, except for the audited financial statements, which are jointly carried out by Eximbank and the auditing company, other contents are coordinated by the Business Development Department and edited according to a unified process. determined. In order for the Annual Report to achieve high quality content, Eximbank's editorial team is required to understand banking operations and grasp domestic and international situations to analyze and reflect aspects of the bank's operations during the year. 2011.
Eximbank will constantly improve its reporting system and operations to try to bring banking information to customers, shareholders, investors... in the fastest and most accurate way. On the other hand, the information must be complete, accurate, and timely according to the law, which means information transparency is demonstrated. Therefore, with IR (Investor Relations) work, Eximbank has a department in charge of providing information according to the regulations of the governing body as a listed company, ensuring transparent and fast information. quickly to investors. In addition, the information provision department is also responsible for establishing, expanding, maintaining and strengthening relationships with domestic and foreign investors as well as international organizations; Regularly welcome investors to learn about Eximbank's operational situation and strategic orientation in each stage.
With the above policy, Eximbank gradually affirms its position in the financial market, its operating results always surpass the set targets. Entering 2011, Eximbank's Board of Directors believes that there are certain difficulties in the context of rising inflation. Tight and cautious monetary policy to control inflation, so this year's credit growth rate is only allowed to be below 20%. However, based on Eximbank's operating situation in 2010, on the basis of internal resources as well as inherent strengths, Eximbank has built a business plan for 2011 on the basis of ensuring harmony between the general operating orientation of the Bank. SBV and its goal of acceleration, sustainability, safety and efficiency.