SHB approved to increase charter capital to 1.16 billion USD
The Saigon-Hanoi Commercial Joint Stock Bank (SHB) was given approval from the State Bank of Vietnam to increase its charter capital from the current 19.2 trillion VND (843.2 million USD) to 26.6 trillion VND (1.16 billion USD).
Hanoi (VNS/VNA) – The Saigon-Hanoi Commercial Joint Stock Bank (SHB) wasgiven approval from the State Bank of Vietnam to increase its charter capitalfrom the current 19.2 trillion VND (843.2 million USD) to 26.6 trillion VND (1.16billion USD).
Ofwhich, the bank would add 2 trillion VND by issuing shares to pay dividends witha rate of 10.5 percent from its after-tax profit after setting aside funds in2020. Another 5.3 trillion VND would be added to the charter capital by issuingshares to existing shareholders with the offering price of 12,500 VND pershare.
Thecharter capital increase aims to improve SHB’s financial potential, expandlending scale, and invest in information technology. Especially, it would helppromote the bank's digitisation, realising the goal of becoming a modern retailbank with optimal financial products and services according to Industry 4.0standards.
Earlier,SHB successfully issued more than 175 million shares to pay the 2019 dividendin May 2021, raising its charter capital to more than 19.2 trillion VND.
Inthe first half of the year, SHB reached before-tax profit of 3 trillionVND, posting an 86.5 percent year-on-year increase, meeting half of its wholeyear set target. Its return on equity (ROE) reached 24.3 percent.
Asof June 30, its total assets reached 458 trillion VND, increasing 11 percentfrom the beginning of the year and meeting 99.5 percent of the set target.
Morethan 1.9 billion shares of SHB would be moved from the Hanoi Stock Exchange(HNX) to the Ho Chi Minh Stock Exchange (HoSE) from October 5.
Withthe capitalisation of over 51.6 trillion VND, SHB has been one of the mostinfluential stocks on HNX. The move from listing SHB to HoSE will reduce themarket capitalisation of HNX by more than 12 percent./.
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Staff at SHB (Photo courtesy of the bank) 
