VPBank, Techcombank expect to increase capital

Monday, Apr 03, 2017 16:13

Shareholders meeting of Techcombank is due on April 15. — Photo ndh.vn

VPBank and Techcombank will submit a proposal to increase capital at their annual shareholder meetings this month.

The meetings of VPBank and Techcombank are due on April 10 and April 15, respectively.

Techcombank expects to increase charter capital from nearly VND8.88 trillion (US$391 million) to VND13.88 trillion.

The bank’s stake will be offered for sale to existing shareholders. The sale is expected in the second or third quarter of this year. Share price will be decided by the bank’s board of directors, but it must be higher than the face value.

Techcombank this year plans to increase total assets to nearly VND280 trillion and earn pre-tax profit of more than VND5 trillion, up 26 per cent against 2016.

VPBank, meanwhile, hasn’t released its detailed capital raising plan yet. The State Bank of Viet Nam recently approved VPBank’s proposal to increase charter capital from VND9.18 trillion to VND10.77 trillion through the issue of bonus shares and by using profit left from the previous years. — VNS

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