VPBank's charter capital to reach 3.3 billion USD by 2022
By issuing stock dividends and private offering from equity and issuing stocks for foreign investors, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) is expected to raise its charter capital to 75 trillion VND (3.3 billion USD).
At a VPBank transaction office. (Photo courtesy of the bank)At an online meeting with analysts and individual investors on August 12, VPBank’s leader said that besides the recent plan to issue shares with a total rate of 80 percent, including 62.15 percent to pay dividends and 17.85 percent to be issued from equity, the bank plans to increase charter capital through sources like the sale of 49 percent of FE Credit's capital for nearly 1.4 billion USD and the private offering of 15 percent of capital for strategic foreign shareholders.
If these deals are completed, VPBank’s charter capital will increase to 75 trillion VND by 2022. This is even higher than that of State-owned banks such as Vietcombank, BIDV and VietinBank, making it the bank with the highest charter capital in the market.
VPBank is consulting shareholders in writing on the issuance of stock dividends and additional issuance from the development investment fund and the reserve fund for supplemental charter capital.
Accordingly, the bank is expected to issue a maximum of nearly two trillion new shares, equivalent to the total issuance value of 19.76 trillion VND to increase charter capital. Shareholders with 10,000 shares of VPBbank will receive a total of 8,000 new shares, including 6,215 shares from dividends and 1,785 shares from equity.
After the issuance, the bank's charter capital will increase to nearly 45.1 trillion VND. This is one of the three sources for the capital rise mentioned above.
Regarding business results, the bank’s leader said that its total revenue climbed 22.5 percent in the first six months of the year. Of which, net interest income reached 18 trillion VND, up 17 percent./.
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