HDBank to raise chartered capital to 389 million USD hinh anh 1Illustrative image (Source: VNA)
HCM City (VNA) – The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) will increase chartered capital to almost 8.83 trillion VND (389 million USD) by issuing 56.7 million shares.

Of the sum, 292 billion VND (12.8 million USD) will be earmarked for building its headquarters and expanding operations and 437 billion VND (19.2 million USD) will be used for medium- and long-term loans.   

These targets are parts of a plan approved at the bank’s annual stakeholders meeting held in Ho Chi Minh City on April 21.

HDBank general director Nguyen Huu Dang said the bank has expected to post 1.3 trillion VND (57.2 million USD) pre-tax profits, a rise of 13 percent, and keep its bad debt rate below 3 percent.

HDBank plans to increase the number of transaction offices to 240 from the current 221 by the end of the second quarter.

Between 2017 and 2021, HDBank will work to achieve an average annual ownership capital growth of 15 percent. By the end of 2021, it plans to raise chartered capital to 15 trillion VND (660 million USD) and pre-tax profits to 2.5 trillion VND (110 million USD).

In 2016, HDBank’s pre-tax profits and credit outstanding balance exceeded 1.1 trillion VND (48.4 million USD) and 90.1 trillion VND (3.96 billion USD), respectively.-VNA