VPBank's charter capital to reach 3.3 billion USD by 2022
By issuing stock dividends and private offering from equity and issuing stocks for foreign investors, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) is expected to raise its charter capital to 75 trillion VND (3.3 billion USD).
At a VPBank transaction office. (Photo courtesy of the bank)
Hanoi (VNS/VNA) - By issuing stock dividends and private offering fromequity and issuing stocks for foreign investors, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) is expected to raise its charter capital to 75 trillionVND (3.3 billion USD).
Atan online meeting with analysts and individual investors on August 12, VPBank’sleader said that besides the recent plan to issue shares with a total rate of80 percent, including 62.15 percent to pay dividends and 17.85 percent to beissued from equity, the bank plans to increase charter capital through sourceslike the sale of 49 percent of FE Credit's capital for nearly 1.4 billion USD andthe private offering of 15 percent of capital for strategic foreignshareholders.
Ifthese deals are completed, VPBank’s charter capital will increase to 75trillion VND by 2022. This is even higher than that of State-owned banks suchas Vietcombank, BIDV and VietinBank, making it the bank with the highestcharter capital in the market.
VPBankis consulting shareholders in writing on the issuance of stock dividendsand additional issuance from the development investment fund and the reservefund for supplemental charter capital.
Accordingly,the bank is expected to issue a maximum of nearly two trillion new shares,equivalent to the total issuance value of 19.76 trillion VND to increasecharter capital. Shareholders with 10,000 shares of VPBbank will receive atotal of 8,000 new shares, including 6,215 shares from dividends and 1,785shares from equity.
Afterthe issuance, the bank's charter capital will increase to nearly 45.1 trillionVND. This is one of the three sources for the capital rise mentionedabove.
Regardingbusiness results, the bank’s leader said that its total revenue climbed 22.5 percentin the first six months of the year. Of which, net interest income reached 18trillion VND, up 17 percent./.
VPBank recorded pre-tax profit of more than 4 trillion VND (173.2 million USD) in the first quarter of the year, an increase of 38 percent over the same period last year.
Vietnam Prosperity Joint Stock Commmercial Bank (VPBank) handed over more than 1,000 ventilators to 19 cities and provinces in the southern region as the fourth wave of COVID-19 infections has caused a severe shortage.
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At a VPBank transaction office. (Photo courtesy of the bank) 
