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VPB: VPBank's charter capital to reach $3.3 billion by 2022
Vietnam News - 8/16/2021 2:48:46 PM
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By issuing stock dividends and private offering from equity and issuing stocks for foreign investors, VPBank is expected to raise its charter capital to VNĐ75 trillion (US$3.3 billion).
 
At an online meeting with analysts and individual investors on Thursday, VPBank’s leader said that besides the recent plan to issue shares with a total rate of 80 per cent, including 62.15 per cent to pay dividends and 17.85 per cent to be issued from equity, the bank plans to increase charter capital through sources like the sale of 49 per cent of FE Credit's capital for nearly $1.4 billion and the private offering of 15 per cent of capital for strategic foreign shareholders.
 
If these deals are completed, VPBank’s charter capital will increase to VNĐ75 trillion by 2022. This is even higher than that of State-owned banks such as Vietcombank, BIDV and VietinBank, making it the bank with the highest charter capital in the market.
 
VPBank is consulting shareholders in writing on the issuance of stock dividends and additional issuance from the development investment fund and the reserve fund for supplemental charter capital.
 
Accordingly, the bank is expected to issue a maximum of nearly two trillion new shares, equivalent to the total issuance value of VNĐ19.76 trillion to increase charter capital. Shareholders with 10,000 shares of VPBbank will receive a total of 8,000 new shares, including 6,215 shares from dividends and 1,785 shares from equity.
 
After the issuance, the bank's charter capital will increase to nearly VNĐ45.1 trillion. This is one of the three sources for the capital rise mentioned above. 
 
Regarding business results, the bank’s leader said that its total revenue climbed 22.5 per cent in the first six months of the year. Of which, net interest income reached VNĐ18 trillion, up 17 per cent. — VNS
 
Read original article here
 
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