Business

VietinBank to receive over 300 million USD in State capital

The Government has approved a plan to invest an additional 6.977 trillion VND (303.2 million USD) in State capital in the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) so as to maintain the State’s ownership percentage at this bank.
VietinBank to receive over 300 million USD in State capital ảnh 1A transaction office of VietinBank (Photo: VNA)
Hanoi (VNA) – The Government hasapproved a plan to invest an additional 6.977 trillion VND (303.2 million USD)in State capital in the Vietnam Joint Stock Commercial Bank for Industry andTrade (VietinBank) so as to maintain the State’s ownership percentage at thisbank.

The approval will be the basis for VietinBank tocarry out procedures for raising its charter capital, helping it continueexpanding operations.

The bank is expected to complete the issuance ofshares to pay dividends, at a rate of 29.0695 percent, in the third or fourthquarter of 2021.

Following the issuance, the bank’s chartercapital will increase by 10.824 trillion VND, from 37.234 trillion VND to 48.058trillion VND.

Last year, the bank posted 17.085 trillion VNDin consolidated pre-tax profit while the non-performing loan ratio stood at0.94 percent.

The respective figures were at 8.06 trillion VNDand 0.88 percent by the end of the first quarter this year./.
VNA
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