BIDV plans to raise charter capital this year

Hanoi (VNA) –The Bank for Investment and Development of Vietnam (BIDV) planned to raise its charter capital by 4,445 billion VND (193.2 million USD) to 38,632 billion VND (1.67 billion USD) this year as said during its annual shareholders’ meeting in Hanoi on April 22.

The plan will be conducted via the issuance of 2016 dividend-paying stocks worth nearly 2,393 billion VND (104 million USD), shares for investors worth 1,026 billion VND (44.6 million USD) and others for employees, known as Employee Stock Ownership Plan (ESOP) valued at 1,026 billion VND.

As of the first quarter this year, BIDV posted a total asset of 1,025 trillion VND (44.56 billion USD), up 1.8 percent from early this year, and before-tax profit of 2,075 billion VND, marking a 9.2 percent increase annually.

As of December 31, 2016, the bank recorded a total asset worth 1,006,404 billion VND (43.75 billion VND), up 18.3 percent year-on-year, accounting for 14 percent of the sector’s total asset value. The deposits and before-tax profit rose 21.1 percent and 3.2 percent, respectively to 940,020 billion VND and 7,709 billion VND.

The meeting elected a 10-strong board of directors for the 2017-2020 tenure led by Phan Duc Tu as General Director and Tran Anh Tuan as executive member. -VNA