Four banks to organise AGM this week

LienVietPostBank will organise the annual general meeting of shareholders on March 28. - Photo LienVietPostBank

At the AGM on March 28, LienVietPostBank will elect members of the board of directors and the supervisory board for the 2018-2023 period, including a new chairman to replace Nguyen Duc Huong.

On the same day, SCB will also hold the AGM, where it will report to shareholders a pre-tax profit target of VND224 billion and its plans to raise the charter capital to VND16.6 trillion (US$731.3 million), as well as issue 60 million bonus shares to the existing shareholders in 2018.

At the AGM of MB on March 29, the bank is expected to submit a profit plan of VND6.8 trillion in 2018, up 47 per cent against last year. The total targeted asset will increase 11 per cent to VND347.6 trillion, while the mobilised capital and outstanding loans will rise by 11 per cent and 15 per cent, respectively.

The MB will also ask shareholders for plans to increase the charter capital to VND21.6 trillion and pay dividends and bonus shares to shareholders in a total ratio of 25 per cent.

The solution to achieve the bank’s plan is to invest in the technology infrastructure capacity, carry out digital banking projects, pilot the automated trading model and invest in brand identity, the bank said in a written document sent to shareholders before the AGM.

On March 29, VIB’s AGM will also ask shareholders for approval plans to increase its charter capital to VND8.1 trillion by offering treasury shares, issuing new shares and paying bonus shares.

The VIB is expected to set a pre-tax profit target of more than VND2 trillion in 2018, an increase of 43 per cent compared with 2017. In addition to this, the bank will also propose that shareholders authorise the board of directors to select the appropriate time for the listing of the bank’s share on the HCM Stock Exchange.