VIB to get listed on UPCoM in 2017

Wednesday, Nov 09, 2016 15:37

VIB expects to list on UPCoM early next year. — Photo VIB

HA NOI (Biz Hub) — The Vietnam International Bank (VIB) is implementing procedures to get listed on UPCoM early next year instead of 2018 as previously planned.

The bank's representatives said that getting listed on UPCoM will increase its value for the VIB investors, owing to its good liquidity.

The bank said it has completed procedures to increase its charter capital to VND5.644 trillion (US$251.96 million), as approved by the State Securities Commission and the State Bank of Viet Nam.

In April, at the VIB shareholders meeting, the plan had been approved to increase its charter capital from VND4.85 trillion VND5.644 trillion through issuing share dividends of 16.5 per cent.

As per the bank's financial report, its total assets touched VND93 trillion at end of October. Its capital adequacy ratio (CAR) and non-performing loans were at 14.46 per cent and 1.49 per cent, respectively.

The Commonwealth Bank of Australia (CBA) continues to be a strategic partner of the VIB, holding 20 per cent share.

VIB currently serves around 1.6 million individual customers and 34,000 corporate customers. — VNS

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