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.
#VPBank
The issuer is solely responsible for the content of this announcement.
Services
STAKEHOLDER ENGAGEMENT
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
BUSINESS INTELLIGENCE
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
GOVERNMENT RELATIONS
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
BUSINESS & BROADER MARKET ACCESS
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
SECURITY CONCERNS IN CRITICAL VALUE CHAINS
The threat matrix has evolved to include information warfare, cyberspace incursions, big data and behavioural communications. Business leaders need to be aware of these threats to survive. What are you doing as a key stakeholder?
CHARTING THE FUTURE OF DATA RESILIENCE
Companies can now live or die based on their ability to generate and manage data. Effectively managing existential challenges is the opportunity that business leaders need to grasp for a sustainable future. Calling for speakers!
ADDRESSING WEAPONISED INFORMATION IN THE MEDIA
Corporations and their leadership often face weaponised information attacks in the media. Understanding these advanced business threats is crucial. Recently completed. View proceedings online.
DIGITAL RESILIENCE IN THE CORPORATE SECTOR
Special session: Cyberwarfare Waged on the Corporate Sector - Lessons from the Russia-Ukraine Crisis. Corporations are in a digital arms race that many don't realise. How does this relate to your organisation?
MGBF In The News
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
Trade and investment delegations will trickle back over the next few months, but the second half of the year should see considerable return of business travellers. It was learnt that over 50 per cent of international business chambers and industry associations surveyed will consider sending exploratory teams to Malaysia during […]
KUALA LUMPUR, 30 March 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Digital Resilience in the Corporate Sector’ was held in a hybrid setting yesterday at the Element by Westin Kuala Lumpur. The discussion focused on what business leaders need to understand, to ensure business resilience and […]
The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Addressing Weaponised Information in the Media’ was held in a hybrid setting today at the Hilton Kuala Lumpur. The discussion focused on addressing one of the most relevant threats to businesses in the digital economy – cyber threats causing physical and […]
The current floods that have impacted various parts of the country have given rise to an extensive commentary on the response cycles of various stakeholders. It has in turn led to continued crisis communications and statements in the media by agencies and ministries alike. This binary approach to the discussion […]
The formation of a special Cabinet committee to develop strategic measures to safeguard the economy amid the Covid-19 outbreak shows the Malaysian government is serious about creating a balance between the continued safety of the general population and the survival of the economy. In the global context, as many countries […]
Innovation, coupled with a radical departure from contemporary thinking, is required with a possible reality of a prolonged crisis becoming the new reality that people and companies must function through. Malaysia Global Business Forum founding chairman Nordin Abdullah said innovation and resilience from all stakeholders will be required to shape […]
The recent announcement that a committee jointly chaired by senior ministers in charge of security and economy clusters respectively demonstrates that the Malaysian government is serious about creating a balance between continued safety of the general population and the survival of the economy. In the global context, as many countries […]
Innovation, coupled with a radical departure from contemporary thinking, is required with a possible reality of a prolonged crisis becoming the new reality that people and companies must function through. Malaysia Global Business Forum founding chairman Nordin Abdullah said innovation and resilience from all stakeholders will be required to […]
Innovation, coupled with a radical departure from contemporary thinking, is required with a possible reality of a prolonged crisis becoming the new reality that people and companies must function through. Malaysia Global Business Forum founding chairman Nordin Abdullah said innovation and resilience from all stakeholders will be required to […]
The announcement that a committee jointly chaired by senior ministers in charge of security and economy clusters demonstrates that the government is serious about creating a balance between the safety of the population and the survival of the economy. In the global context, as many countries struggle to deal […]
THE Covid-19 outbreak has exposed the citizens of most countries to a dangerous virus. But perhaps more importantly, it has exposed the weaknesses in supply chains of nations.The government should be commended for setting up a task force to maintain critical supply chains as it’s an excellent step to ensure […]
In the last few days, the Movement Control Order (MCO) has awoken many to the fact that supply chains that we assume work without question have now become highly critical.The establishment of a special task force to maintain critical supply chains by the current government is an excellent step to […]
by Gunaprasath Bupalan (YouTube – Emjay Communications, The Malaysia Global Business Forum, News Hub Asia, Property360Digest) The CEO Series 2019 by REHDA Institute is more than a developer’s driven event; it is about the strategy made real, where property and its ancillary businesses will provide balance in social, economic and […]
I am the Managing Director of Lynas Malaysia and I’m writing to you on behalf of our employees and contractors and their families. In recent weeks you may have seen a campaign of false information by anti-Lynas activists. We have always welcomed informed debate, however, the spreading of false allegations […]
I am the Managing Director of Lynas Malaysia and I’m writing to you on behalf of our employees and contractors and their families. In recent weeks you may have seen a campaign of false information by anti-Lynas activists. We have always welcomed informed debate, however, the spreading of false allegations […]
I am the Managing Director of Lynas Malaysia and I’m writing to you on behalf of our employees and contractors and their families. In recent weeks you may have seen a campaign of false information by anti-Lynas activists. We have always welcomed informed debate, however, the spreading of false allegations […]
SALAM sejahtera, I am the managing director of Lynas Malaysia and I’m writing to you on behalf of our employees, contractors and their families. In recent weeks, you may have seen a campaign of false information by anti-Lynas activists. We have always welcomed informed debates; however, the spreading of false allegations and […]
KUALA LUMPUR • Malaysia could attract investments of up to RM100 billion (S$33 billion) in the rare earth sector over the next 10 years, once the government makes clear how it intends to regulate the industry. Speaking at the Malaysia Global Business Forum yesterday, Entrepreneurial Development Minister Mohd Redzuan Md […]
