Banks prohibited from paying dividends in cash in 2022
 |
| Photo: Duc Thanh/baodautu.vn |
Additionally, in the preceding year 2021, the State Bank of Vietnam (SBV) instructed banks to refrain from paying cash dividends in order to spend resources on lowering interest rates for individuals and companies. Thus, banks will be prohibited from paying cash dividends to shareholders for the second consecutive year in 2022.
In 2021, just three state-owned banks paid cash dividends, namely Vietcombank, VietinBank, and BIDV.
In which, Vietcombank paid a cash dividend of 12 per cent, BIDV 2 per cent, and VietinBank 8 per cent.
As a result, the aforementioned cash dividends at all three banks are subtracted from the retained undistributed after-tax earnings from 2020, while the profit in 2021 has been authorised by shareholders to retain all of them for future uses in a bid to assist banks’ growth.
Besides this, the SBV also compels commercial banks to carefully adhere to directives of management agencies on currency, foreign exchange, and banking operations. Regular inspection and supervision of the compliance status are essential in order to quickly resolve infractions.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:Related Contents
Latest News
More News
- Central Bank of Cuba chief visits Hanoi to work with VBSP (November 22, 2024 | 15:49)
- Credit sees steady growth towards year-end (November 21, 2024 | 17:46)
- HDBank wins three titles at Vietnam Listed Company Awards (November 21, 2024 | 10:01)
- VLCA’s corporate governance mission (November 21, 2024 | 10:00)
- The promotion of ESG via banking (November 21, 2024 | 09:32)
- Standard Chartered committed to Vietnam’s financial success (November 21, 2024 | 09:24)
- Full ESG adoption the priority for Agribank (November 21, 2024 | 09:07)
- Banks entice youth with tech advances (November 21, 2024 | 08:00)
- Banks shaping the future as business advisors (November 20, 2024 | 21:00)
- ESG represents a shift towards sustainability for banks (November 20, 2024 | 13:00)
Latest News
Mobile Version