VietinBank eyes 29 pct charter capital hike – VnExpress International


By Dat Nguyen  &nbspNovember 17, 2020 | 02:47 pm GMT+7
VietinBank eyes 29 pct charter capital hike  VietinBank eyes 29 pct charter capital hike - VnExpress International WEBshutterstock568928311 16055 1989 5069 1605587895

The logo of VietinBank in front of a building in Ho Chi Minh City. Photo by Shutterstock/TK Kurikawa.


State-owned VietinBank plans to increase its charter capital by nearly 29 percent to VND47.9 trillion ($2.07 billion) by issuing shares to pay dividends.

It is seeking shareholders’ approval, saying the task is urgent since its charter capital has not been increased since 2013.

The lender plans to use the profits of the last three years to pay dividends to shareholders at a rate of 28 shares for every 100 held.

Charter capital is an important criterion for ratings, and an increase in charter capital would allow it to expand lending, the bank said in a statement.

With the new issuance, the bank plans to increase its assets by 1-3 percent and credit by 4-8.5 percent this year.

The State Bank of Vietnam holds a 64.46 percent stake in the bank, and Japan’s MUFG Bank owns 19.37 percent.

VietinBank and the rest of the “big four” state-owned lenders have been seeking to increase their charter capital for years to meet international capital adequacy ratio norms.

The wholly state-owned Agribank received approval in May to increase its capital by 11.5 percent to VND34 trillion.

Vietcombank and BIDV hiked their capital last year after years of waiting, but industry insiders said they need to increase it further.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

VietinBank eyes 29 pct charter capital hike – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
error: Content is protected !!
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF