BIDV plans to raise charter capital this year
The Bank for Investment and Development of Vietnam (BIDV) planned to raise its charter capital by VND4,445 billion (US$193.2 million) to VND38,632 billion (US$1.67 billion) this year as said during its annual shareholders’ meeting in Hanoi on April 22.
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The plan will be conducted via the issuance of 2016 dividend-paying stocks worth nearly VND2,393 billion (US$104 million), shares for investors worth VND1,026 billion (US$44.6 million) and others for employees, known as Employee Stock Ownership Plan (ESOP) valued at VND1,026 billion.
As of the first quarter this year, BIDV posted a total asset of VND1,025 trillion (US$44.56 billion), up 1.8% from early this year, and before-tax profit of VND2,075 billion, marking a 9.2% increase annually.
As of December 31, 2016, the bank recorded a total asset worth VND1,006,404 billion (US$43.75 billion), up 18.3% year-on-year, accounting for 14% of the sector’s total asset value. The deposits and before-tax profit rose 21.1% and 3.2%, respectively to VND940,020 billion and VND7,709 billion.
The meeting elected a 10-strong board of directors for the 2017-2020 tenure led by Phan Duc Tu as General Director and Tran Anh Tuan as executive member.
