Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) has just announced information on increasing its charter capital to VND7,139 billion through the issuance of shares to pay dividends from retained earnings. Accordingly, the bank will pay dividends in 2024 in shares at a rate of 25%, which is quite a high payout rate compared to the general market level.
The charter capital increase plan is one of the important conditions for Vietbank to consolidate and improve its financial capacity in accordance with the roadmap committed to the State Bank of Vietnam, ensuring the capital adequacy ratio (CAR) as prescribed, thereby expanding its scale, competitiveness and meeting the transaction network development plan. The capital increase is expected to be completed by the end of 2024.
Kicking off the strategy of expanding its transaction network with the goal of opening 5 new branches in 2024, on September 26, Vietbank opened its Bac Ninh branch - the first unit in the plan to open 5 new branches in 2024. Currently, the bank has 120 transaction points, including 26 branches and 94 transaction offices. By the end of 2024, this number is expected to increase to 132 transaction points with 30 branches and 102 transaction offices. This affirms Vietbank's commitment to continuously improving service quality, while bringing the bank closer to people across the country.
In addition, Vietbank also announced the list of shareholders holding 1% or more of charter capital according to the amended Law on Credit Institutions, effective from July 1. This list includes 25 shareholders who are organizations and individuals. Of which, Mr. Duong Nhat Nguyen - Chairman of the Board of Directors and his family members are the group of long-term shareholders, holding the largest number of shares at 11.89%.
The announcement of the above shareholder list is a new provision of the Law on Credit Institutions. Accordingly, shareholders owning 1% or more of the charter capital of a credit institution must provide the credit institution with information about themselves and their related persons, including information about the number and percentage of shares they own and their related persons at that credit institution.
In 2024, Vietbank aims for pre-tax profit of VND 1,050 billion, an increase of 29% compared to 2023; total assets of VND 150,000 billion; capital mobilization of VND 116,000 billion; total outstanding loans of VND 95,000 billion. The bank aims to expand market share, increase total asset size in both quality and quantity, and control bad debt below 3%.
The bank also aims to increase total assets to VND170,000 billion by 2025, mobilize capital from market 1 to VND135,000 billion; total outstanding loans to VND110,000 billion; charter capital to VND10,000 billion and pre-tax profit to VND1,600 billion, and bad debt to be controlled below 3% according to regulations.
By 2025, Vietbank plans to increase total assets to 170,000 billion VND, total outstanding debt to 110,000 billion VND.
Over the years, in addition to effectively implementing business activities, Vietbank has always demonstrated its responsibility to the community through social security activities.
Faced with the severe damage caused by storm No. 3 (Yagi storm) recently, Vietbank has quickly issued practical financial support solutions, accompanying the community to overcome difficulties after the storm.
Specifically, the bank reduced loan interest rates from 0.5% to 1.2% per year for customers affected by storms and floods, helping to reduce financial burdens and create favorable conditions for people to restore production and business activities. In addition, Vietbank also organized charity fundraising activities from officers and employees with donations reaching more than VND 1.8 billion to support people in the northern provinces affected by storm Yagi. The activities attracted nearly 2,600 Vietbank officers to participate at 119 transaction points, both online and in person.
Source: https://dantri.com.vn/kinh-doanh/vietbank-tang-von-dieu-le-len-7139-ty-dong-cong-bo-danh-sach-co-dong-20240927135906622.htm
Comment (0)