Proactively increase capital, improve financial capacity

On November 14, 2024, the State Securities Commission issued a document confirming the receipt of the full report on the issuance of shares to pay dividends of Vietbank. Accordingly, based on the approval document of the State Bank as well as the confirmation of the State Securities Commission, Vietbank will carry out the remaining procedures to complete the increase in charter capital according to the Charter Capital Increase Plan approved at the 2024 Annual General Meeting of Shareholders.

Specifically, Vietbank will increase its charter capital by VND 1,428 billion by issuing 142.8 million shares to pay dividends from retained earnings until December 31, 2023, equivalent to a dividend ratio of 25% of the total outstanding common shares, including shares issued to existing shareholders according to Resolution 01/2023/NQ-ĐHĐCĐ.

The additional capital is expected to be used for asset investment, supplementing capital sources for development, expanding the operating network, ensuring compliance with safety ratios in operations and generating profits for Vietbank's business activities. The expected completion date is no later than December 31, 2024.

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Thus, Vietbank's charter capital will increase to VND7,139 billion, 36 times higher than when it was established in 2007, demonstrating its continuous efforts to improve its financial capacity. The bank's representative said that Vietbank always prioritizes and is steadfast in its goal of safe, sustainable and effective growth. During its operation, Vietbank has always strived and aimed to perfect its governance and management mechanisms according to international standards, meeting the requirements of the Law on Credit Institutions, the Law on Enterprises and the Law on Securities as a large-scale public company.

To strengthen the supervisory role of the Board of Directors and flexibility in governance and management, on November 15, 2024, Vietbank completed the process of collecting written opinions from shareholders on amending and supplementing the Bank's Charter as prescribed. This is creating favorable conditions for the bank to focus on its strategy of expanding its network and increasing convenience for customers.

Nationwide network coverage, prioritizing digital transformation

In November, Vietbank will open two new branches in Ca Mau and Binh Phuoc, affirming its steady progress in its development strategy in the Southern market. The bank's management board expects that Vietbank Ca Mau and Vietbank Binh Phuoc will fully meet the financial needs of individual and corporate customers, especially capital needs, thereby contributing to the overall development of the local economy.

Along with the opening of Ca Mau and Binh Phuoc branches, Vietbank will continue to open new transaction points such as: Vietbank Bai Chay (Quang Ninh province), Vietbank Thanh Hoa (Thanh Hoa province), Vietbank Ben Cat (Binh Duong province), Vietbank Buon Ho (Dak Lak province), Vietbank Lam Dong (Lam Dong province). Thus, by the end of 2024, Vietbank is expected to have 132 branches and transaction offices, confidently meeting the financial needs of an increasing number of customers. Thereby, connecting economic sectors, contributing to growth in localities across the country.

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In addition to developing its transaction network, Vietbank also focuses all resources on digital transformation, diversifying and improving service quality. The bank continues to maintain and strengthen its facilities and information technology to ensure regular, continuous and safe business operations.

With efforts to improve financial capacity, perfect governance and management mechanisms, expand network and digitize operations, Vietbank has taken steps to create a solid foundation for development momentum in 2025 and the following years.

Bui Huy