VIB increased its charter capital and ready to be listed on UPCOM

November 10, 2016 | 12:22

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Vietnam International Bank (VIB) announced to have completed all procedures of increasing its charter capital to VND5.6 trillion ($250.4 million) based on the 2016 charter capital increase plan approved by the State Securities Commission and the State Bank of Vietnam (SBV).

At the annual general meeting of shareholders in April 2016, VIB shareholders passed the charter capital increase plan and the 16.5 per cent bonus share distribution plan.

In recent years, VIB has been one of the domestic commercial banks gaining interest from shareholders and investors with high dividend rates including 9 per cent cash dividend and 14 per cent bonus share in 2014, 8.5 per cent cash dividend and 16.5 per cent bonus share in 2015.

VIB is now registering and conducting securities depository so that the bank’s securities can be ready to be traded on UPCOM. Being traded on the stock exchange in the coming time, VIB’s stocks are anticipated to attract special attention from many investors.

According to VIB’s business report of ten months this year, the bank had total assets of VND93 trillion ($4.16 billion), capital adequacy ratio (CAR) of 14.46 per cent, and non-performing loan decreased sharply to 1.49 per cent.

VIB now has more than 4,000 employees serving 1.6 million personal customers and 34,000 corporate customers. Commonwealth Bank of Australia, VIB’s strategic shareholder, with a 20 per cent stake at VIB, is one of the world’s 10 largest banks by market capitalisation, with more than 100 years of history.

By By Giang Hoang

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