KienlongBank plans to pay 50% dividend and offer additional shares

Kienlong Commercial Joint Stock Bank (KienlongBank; UpCOM: KLB) recently announced documents for the 2025 Annual General Meeting of Shareholders (AGM). In addition to business documents, the bank plans to submit a plan for profit distribution, stock dividends to shareholders, increase charter capital and prepare for listing on the Stock Exchange.

According to the published documents, KienlongBank plans to hold the 2025 Annual General Meeting of Shareholders on April 25 online. In addition to approving the reports of the Board of Directors, the Supervisory Board and the Executive Board, at this meeting, KienlongBank will submit to shareholders for approval the stock listing plan, the 2024 profit distribution plan and other contents on authorization and assignment of tasks to the Board of Directors...

The year 2024 marks the strong development of business activities at KienlongBank in the context of many market fluctuations. Under the leadership, direction and management of the new term Board of Directors, KienlongBank has marked many bright spots in its development journey. Accumulated during the year, KienlongBank's total pre-tax profit reached 1,112 billion VND, completing 139% of the set plan.

The Bank's total assets reached VND92,176 billion, up 5.98%; total capital mobilization reached VND82,575 billion, up 5.22%; outstanding credit reached VND61,432 billion, up 16.84% over the previous year. The bad debt ratio was controlled at 1.52%, a low level compared to the industry average and ensuring compliance with the requirements of the State Bank.

With the results achieved and the desire to clearly demonstrate the long-term orientation and commitment to the interests of shareholders, at this congress, KienlongBank plans to submit to shareholders for approval the profit distribution plan for 2024. Accordingly, the bank plans to submit a plan to pay dividends in shares to existing shareholders at a rate of 50%. This is the highest level in the bank's 30 years of operation and is among the top in the industry in terms of dividend rate. The bank also submits to shareholders a plan to increase charter capital by offering 50% of shares to existing shareholders.

If approved, the bank's charter capital is expected to increase from VND3,652 billion to VND7,268 billion. With the approval of the dividend and capital increase plan, KienlongBank will have additional capital sources, contributing to better meeting the safety indicators in operations according to the regulations of the State Bank. At the same time, this is also a solid foundation for the bank to promote technology application, expand scale, effectively control risks, improve capital adequacy ratio (CAR) and better meet international governance standards.

Also at this congress, KienlongBank submitted to shareholders for approval the listing of all outstanding shares on the Stock Exchange. The plan to submit to shareholders for listing shares is not only a commitment to increase publicity and transparency in operations but also demonstrates a long-term development strategy, aiming at international standards in corporate governance, internal control and information disclosure.

By 2025, KienlongBank aims to increase total assets to VND 102,000 billion, an increase of 10.66% compared to 2024. Total mobilized capital reaches VND 93,000 billion, outstanding credit balance reaches VND 71,000 billion with increases of 12.62% and 15.57% respectively compared to the end of the previous year. Pre-tax profit is targeted at VND 1,379 billion and the bad debt ratio continues to be controlled below 3%, ensuring compliance with regulations of the State Bank.

Through information transparency and listing shares on the stock exchange, KienlongBank will gradually affirm its brand as a professional, safe and effective bank. This not only demonstrates KienlongBank's long-term, transparent and sustainable development vision, but also strongly affirms its readiness to enter a new stage of development - modern, transparent and more deeply integrated, towards the proud 30-year milestone (October 27, 1995 - October 27, 2025).

PV

Source: https://congthuong.vn/kienlongbank-du-kien-chia-50-co-tuc-chao-ban-them-co-phieu-384687.html