At a recent shareholder meeting, Sacombank's management board was authorised to boost stake transfer to strategic foreign partners. — Photo Sacombank.com.vn

HA NOI (Biz Hub) — Sacombank will issue about 32.2 million common shares for its key officials within a month from May 24 under a plan approved at its recent shareholder meeting.

The shares would have a combined value of over VND322 billion (US$15.3 million) with a face value of VND10,000 ($0.47) per share. Transactions of the shares would be restricted within a year after the issuance.

This year, the bank planned to raise its charter capital by 53 per cent to VND16.4 trillion ($781 million) and achieve VND2.8 trillion ($133.3 million) in pre-tax profits, an increase of 113 per cent over last year.

It was expected to reach a deposit growth rate of 16 per cent, a lending growth rate of 12 per cent and a bad debt ratio of below 3 per cent, as well as pay a dividend of 9-10 per cent.

At the meeting, shareholders authorised Sacombank's management board to develop plans and boost negotiations for stake transfers to strategic foreign partners by 2015 with a maximum transfer ratio reaching 20 per cent of its total equity.

Reports said the bank would concentrate on maintaining financial security and efficiency until 2020 in the face of continuing economic difficulties. This year, the bank would accelerate retailing activities, enhance the capacity to manage risks and deal with overdue debts, and complete restructuring operations. — VNS

At a recent shareholder meeting, Sacombank's management board was authorised to boost stake transfer to strategic foreign partners. — Photo Sacombank.com.vn

HA NOI (Biz Hub) — Sacombank will issue about 32.2 million common shares for its key officials within a month from May 24 under a plan approved at its recent shareholder meeting.

The shares would have a combined value of over VND322 billion (US$15.3 million) with a face value of VND10,000 ($0.47) per share. Transactions of the shares would be restricted within a year after the issuance.

This year, the bank planned to raise its charter capital by 53 per cent to VND16.4 trillion ($781 million) and achieve VND2.8 trillion ($133.3 million) in pre-tax profits, an increase of 113 per cent over last year.

It was expected to reach a deposit growth rate of 16 per cent, a lending growth rate of 12 per cent and a bad debt ratio of below 3 per cent, as well as pay a dividend of 9-10 per cent.

At the meeting, shareholders authorised Sacombank's management board to develop plans and boost negotiations for stake transfers to strategic foreign partners by 2015 with a maximum transfer ratio reaching 20 per cent of its total equity.

Reports said the bank would concentrate on maintaining financial security and efficiency until 2020 in the face of continuing economic difficulties. This year, the bank would accelerate retailing activities, enhance the capacity to manage risks and deal with overdue debts, and complete restructuring operations. — VNS

At a recent shareholder meeting, Sacombank's management board was authorised to boost stake transfer to strategic foreign partners. — Photo Sacombank.com.vn

HA NOI (Biz Hub) — Sacombank will issue about 32.2 million common shares for its key officials within a month from May 24 under a plan approved at its recent shareholder meeting.

The shares would have a combined value of over VND322 billion (US$15.3 million) with a face value of VND10,000 ($0.47) per share. Transactions of the shares would be restricted within a year after the issuance.

This year, the bank planned to raise its charter capital by 53 per cent to VND16.4 trillion ($781 million) and achieve VND2.8 trillion ($133.3 million) in pre-tax profits, an increase of 113 per cent over last year.

It was expected to reach a deposit growth rate of 16 per cent, a lending growth rate of 12 per cent and a bad debt ratio of below 3 per cent, as well as pay a dividend of 9-10 per cent.

At the meeting, shareholders authorised Sacombank's management board to develop plans and boost negotiations for stake transfers to strategic foreign partners by 2015 with a maximum transfer ratio reaching 20 per cent of its total equity.

Reports said the bank would concentrate on maintaining financial security and efficiency until 2020 in the face of continuing economic difficulties. This year, the bank would accelerate retailing activities, enhance the capacity to manage risks and deal with overdue debts, and complete restructuring operations. — VNS