Monday, October 23 2017

VietNamNews

SHB to increase charter capital to US$527.9 million

Update: September, 20/2017 - 14:45
Transactions at a branch of SHB in Hà Nội. — Photo baodautu.vn
Viet Nam News

HÀ NỘI — The State Bank of Việt Nam (SBV) has permitted Sài Gòn-Hà Nội Commercial Joint Stock Bank (SHB) to raise its charter capital to over VNĐ12 trillion (US$527.9 million).

This increase from the current VNĐ11.2 trillion ($492.7 million) was allowed as part of a plan approved at this year’s SHB shareholder meeting.

SHB will take responsibility for implementing the plan, according to the relevant laws and regulations including the stock ownership limit of its shareholders.

After completing procedures to issue shares, the bank is required to submit an application to the SBV to revise the charter capital.

This year, SHB targeted assets of VNĐ270 trillion, posting a 15 per cent year-on-year increase and capital mobilisation of VNĐ217.3 trillion, or 20 per cent higher than that of last year. Its total outstanding was estmiated at VNĐ191.6 trillion with a pre-tax profit of VNĐ1.75 trillion, representing 18 per cent and 50 per cent increases respectively.

It also planned a dividend payment of 9 per cent while the bad debt rate was less than 3 per cent. — VNS

 

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