HÀ NỘI — The State Bank of Việt Nam has approved Asia Commercial Bank (ACB)’s proposal to increase its charter capital from VNĐ11.25 trillion (US$479 million) to VNĐ12.88 trillion ($548.34 million).
Under the approval, the central bank has asked ACB to ensure that the capital increase is in accordance with the law, including regulations on stake ownership limits applied for shareholders and relevant persons.
ACB’s capital increase will be made through paying dividends in shares to existing shareholders.
At the end of July, ACB also announced it would pay dividends in shares to its shareholders at a ratio of 15 per cent in the third quarter of this year.
ACB reported a net profit of VNĐ2.46 trillion in the first half of the year, 2.5 times higher than the same period last year. The bank’s outstanding loans in the period rose by 11.7 per cent to VNĐ219.59 trillion while mobilised capital was up 10.9 per cent to VNĐ267.8 trillion.
At the end of June, the bank’s total assets had reached VNĐ309.96 trillion, up 9 per cent against the previous year. — VNS
Việt Nam Dairy Products Joint Stock Company (Vinamilk) has announced plans to finalise the list of shareholders that will receive its first round of dividend payments for 2018 in the form of cash and shares on September 6.
Only 15 per cent of business and investment conditions have been cut or simplified since the start of the year despite an instruction issued by Prime Minister Nguyễn Xuân Phúc to ministries and sectors at the start of the year to take drastic measures to cut administrative procedures.
The Ministry of Finance will collaborate with relevant ministries and agencies to review legal regulations to establish a customs bond system to facilitate customs clearance in Việt Nam in the 2018-19 period.
The failure of the Power Generation Corporation 3 (Genco 3) to sell its stake through initial public offering (IPO) has raised concerns about the upcoming IPO’s of the two other similar companies – Genco 1 and Genco 2 – at the end of this year.
Governor of the State Bank of Việt Nam (SBV) Lê Minh Hưng has recently directed the entire banking industry to strictly control foreign currency lending to better minimise dollar speculation and fight against dollarisation in the economy.
The southern province of Đồng Nai has attracted US$1.14 billion in foreign direct investment (FDI) so far this year, reaching 114 per cent of the annual plan, according to the Đồng Nai Industrial Zones Authority.