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HANOI, VIETNAM – Media OutReach – 29 April 2022 – Vietnam Prosperity Joint Inventory Industrial Financial institution (VPBank) efficiently held its Annual Basic Assembly (AGM) in Hanoi immediately, saying numerous vital enterprise plans and targets for 2022, as a part of an try to arrange for the financial institution’s subsequent section of development sooner or later.
On the AGM, VPBank was given a go-ahead by its shareholders to challenge/provide its shares to employees beneath the ESOP scheme, and on the identical time perform the plan to additional strengthen its capital through the share issuance from fairness and the personal placement with a strategic investor.
30 million of treasury shares, accordingly, will probably be out there for the financial institution employees on the preferential worth of VND10,000 a share. In the meantime, the financial institution determined to distribute 50% inventory dividend to current shareholders, utilizing the financial institution’s undistributed revenue after tax and reserve. The whole worth of the share issuance will enhance the chartered capital from VND45.06 trillion to VND67.43 trillion.
As well as, the personal placement price as much as 15% of the chartered capital to strategic international investor, as soon as accomplished, will finally bolster the financial institution’s chartered capital to VND79.33 trillion. The financial institution will accordingly carry its international possession restrict to 30% of the chartered capital to accommodate the personal placement to the international investor accordingly. The proceeds obtained from the share issuance will probably be utilised to boost VPBank’s monetary and administration capabilities, with the intention to lengthen the operation scale of the financial institution to serve rising credit score demand.
Inside the scope of the AGM, VPBank was additionally permitted to undergo with the acquisition of OPES Insurance coverage Firm to increase its enterprise traces to non-life and medical health insurance, to pair with its present life insurance coverage enterprise collaborated with AIA Vietnam. Alternatively, the financial institution will contribute VND20 trillion in direction of its securities arm of ASC – a subsidiary obtained earlier within the yr, to faucet into the funding banking and wealth administration segments.
Aiming excessive for the yr, VPBank set its enterprise targets for 2022 with complete property rising at 27 per cent to VND697.4 trillion, credit score development at 35% to VND518.4 trillion and revenue earlier than tax bolstering by 107% to roughly VND29.7 trillion.
Final yr, VPBank recorded a consolidated revenue earlier than tax of VND14.36 trillion, a rise of 10.3% year-on-year. Its complete property grew by 30.6 per cent to VND547.4 trillion whereas credit score to buyer jumped 18.9% to VND384.03 trillion, engaging in 111% and 102% of the annual goal, respectively.
About VPBank
Established in 1993, VPBank is at present one in every of largest personal banks in Vietnam. The financial institution operates in huge ranges of enterprise together with retail banking, company banking, wealth administration and client finance. The target of VPBank is to turn into a top-ranking retail financial institution amongst joint inventory business banks in Vietnam when it comes to enterprise scale, market share and repair high quality. On that foundation, VPBank shall make the very best income for its shareholders, create secure jobs and profession improvement alternatives for workers, and make appreciable contributions to the State Funds and to the final improvement of the economic system and society as properly.
#VPBank
The issuer is solely liable for the content material of this announcement.
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