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WHOLESALE BANKING | Cesar Tordesillas, Vietnam
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Vietinbank to increase chartered capital

The management board of Vietinbank has approved the proposal of increasing chartered capital in 2012 in two phases.

 

In the first phase, Vietinbank would advance 2011 dividend in shares at applied rate of 20 percent and allocate bonus shares at 9.6 percent. The bank would spend 5.988 trillion dong for purposes of dividend payment and bonus share allocation. The chartered capital was expected to be increased to 26.218 trillion dong after the first phase.

In the second phase, Vietinbank would negotiate with foreign strategic shareholders for offering shares with applied ratio of 15 percent or 4.527 trillion dong. After the second phase, the bank would have total chartered capital of 30.845 trillion dong.

The bank’s management board would decide the detailed schedule for the share issuance later.

 

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