• Home
• Media Outreach
• VPBank announced important business plans and targets for 2022 at AGM

Jumat, 29 April 2022 16:44:00

VPBank announced important business plans and targets for 2022 at AGM

HANOI, VIETNAM - Media OutReach - 29 April 2022 - Vietnam Prosperity Joint Stock Commercial Bank (VPBank) successfully held its Annual General Meeting (AGM) in Hanoi today, announcing various important business plans and targets for 2022, as part of an attempt to prepare for the bank's next phase of growth in the future.

At the AGM, VPBank was given a go-ahead by its shareholders to issue/offer its shares to staff under the ESOP scheme, and at the same time carry out the plan to further strengthen its capital via the share issuance from equity and the private placement with a strategic investor.

30 million of treasury stocks, accordingly, will be available for the bank staff at the preferential price of VND10,000 a share. Meanwhile, the bank decided to distribute 50% stock dividend to existing shareholders, using the bank's undistributed profit after tax and reserve. The total value of the share issuance will increase the chartered capital from VND45.06 trillion to VND67.43 trillion.

In addition, the private placement worth up to 15% of the chartered capital to strategic foreign investor, once completed, will eventually bolster the bank's chartered capital to VND79.33 trillion. The bank will accordingly lift its foreign ownership limit to 30% of the chartered capital to accommodate the private placement to the foreign investor accordingly. The proceeds obtained from the share issuance will be utilised to enhance VPBank's financial and management capabilities, in order to extend the operation scale of the bank to serve growing credit demand.

Within the scope of the AGM, VPBank was also permitted to go through with the acquisition of OPES Insurance Company to expand its business lines to non-life and health insurance, to pair with its current life insurance business collaborated with AIA Vietnam. On the other hand, the bank will contribute VND20 trillion towards its securities arm of ASC – a subsidiary obtained earlier in the year, to tap into the investment banking and wealth management segments.

Aiming high for the year, VPBank set its business targets for 2022 with total assets growing at 27 per cent to VND697.4 trillion, credit growth at 35% to VND518.4 trillion and profit before tax bolstering by 107% to approximately VND29.7 trillion.

Last year, VPBank recorded a consolidated profit before tax of VND14.36 trillion, an increase of 10.3% year-on-year. Its total assets grew by 30.6 per cent to VND547.4 trillion while credit to customer jumped 18.9% to VND384.03 trillion, accomplishing 111% and 102% of the annual target, respectively.

About VPBank
Established in 1993, VPBank is currently one of biggest private banks in Vietnam. The bank operates in wide ranges of business including retail banking, corporate banking, wealth management and consumer finance. The objective of VPBank is to become a top-ranking retail bank among joint stock commercial banks in Vietnam in terms of business scale, market share and service quality. On that basis, VPBank shall make the highest profits for its shareholders, create stable jobs and career development opportunities for employees, and make considerable contributions to the State Budget and to the general development of the economy and society as well.

2 minggu lalu

Hitachi Construction Machinery Meluncurkan Kampanye Merek Global Terbaru Menjelang Perubahan Nama Perusahaan dan Merek Menjadi "LANDCROS" pada April 2027

Di saat yang sama, seiring makin beragam dan kompleksnya tantangan yang dihadapi para pelanggan di lokasi kerja mereka, peran yang diharapkan dari kami pun turut berubah secara sig

satu bulan lalu

Kaimirra Opens Boutique at Pavilion Damansara Heights and Kiosk at Pavilion Kuala Lumpur

The Pavilion Damansara Heights boutique held its grand opening on 9 October 2026 with a ribbon-cutting ceremony and lion dance. The kiosk brings the brand to Bukit Bintang, Kuala L

3 bulan lalu

JSCCIB Joins Forces with Public Sector and World Bank to Launch "The Bangkok Business Summit 2026: Reinvent Thailand, Resilient ASEAN"

This event serves as a milestone paving the way toward the IMF-World Bank Group Annual Meetings 2026, which Thailand will proudly host in Bangkok in October 2026, as well as Thaila

3 bulan lalu

Memperluas Cakrawala: Mahasiswa Asal Uzbekistan, Dulatkhan, Meniti Masa Depan di CUHK

Dulatkhan aktif menjalani kehidupan kampus dengan mengikuti kompetisi bola voli antarkolese dan judo, sekaligus menikmati keindahan alam Hong Kong melalui kegiatan mendaki. Semanga