The State Bank of Viet Nam (SBV) has approved TPBank to increase its maximum charter capital by VND4.1 trillion (US$177.8 million) through the issuance of common shares to existing shareholders.

Accordingly, the bank plans to issue more than 410 million common shares to existing shareholders at a rate of 35 per cent, meaning shareholders holding 100 TPB shares will receive 35 new shares. Issued shares are not subject to transfer restrictions.

The issuance source is from retained earnings that have not yet been distributed after provisioning according to the resolution of the Annual General Meeting of Shareholders in 2021.

After completing the issuance, TPBank's charter capital is expected to rise to nearly VND15.82 trillion, up nearly 26 per cent compared to the current charter capital of nearly VND11.72 trillion.

In the third quarter of 2021, TPBank increased its charter capital by VND1 trillion through private offering, bringing the total charter capital of the bank to nearly 11.72 trillion VND.

As of September 30, the bank's total fund raising reached over VND230.6 trillion, up 24.73 per cent over the same period last year and approximately 4 per cent higher than the whole year plan.

In the first three quarters of the year, the bank's profit before tax was nearly VND4.4 trillion, equivalent to 75.76 per cent of the annual target. — VNS