VietinBank to receive over 300 million USD in State capital

A transaction office of VietinBank (Photo: VNA)

Hanoi (VNA) – 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.

The approval will be the basis for VietinBank to carry out procedures for raising its charter capital, helping it continue expanding operations.

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

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

Last year, the bank posted 17.085 trillion VND in consolidated pre-tax profit while the non-performing loan ratio stood at 0.94 percent.

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

VNA