Transactions at DongA Bank. The bank plans to increase its equity to assure payment and lending abilities. — Photo laisuat.vn

HCM CITY (Biz Hub) ― DongA Bank will strive to increase its charter capital from VND5 trillion, or US$238.10 million, to VND6 trillion, or $285.71 million, this year.

The charter capital target, which the bank failed to achieve last year, is aimed at assuring its payment and lending abilities.

This has been stated in the bank's report, which will be presented at its shareholder meeting in HCM City on April 26.

DongA will issue additional shares worth a total of VND1 trillion, or $47.62 million, to the existing shareholders at a rate of 5:1. It plans to achieve VND89 trillion, or $4.24 billion, in total assets, up 18 per cent over last year, and VND500 billion, or $23.81 million, in pre-tax profits, a year-on-year rise of 17 per cent.

Nguyen Quoc Hung, the deputy chief of the HCM City Party's Committee office, will take over as the bank's chairman after the current incumbent Pham Van Bu retires on April 26. ― VNS