HCMC – The Government has proposed injecting VND20,695 billion, equivalent to around US$815 million, into the state-run lender Vietcombank, according to the Vietnam News Agency.
At its ongoing eighth session in Hanoi on October 23, the National Assembly looked into the Government’s proposal and a review report on the policy to inject additional public capital into Vietcombank.
Deputy Prime Minister and Minister of Finance Ho Duc Phoc emphasized the need for injecting state money from the bank’s retained 2021 profit to strengthen the efficiency and competitiveness of state-owned businesses. He noted that the move is crucial to ensure these enterprises can maintain their leadership and foundational role in key sectors.
The Government’s proposal suggests using share dividends received from Vietcombank in 2018, along with the bank’s retained profit from 2021, as the funding source for the capital injection.
Traditional methods, such as issuing shares to private investors, issuing bonds, or increasing capital through other means, are not considered viable options under current conditions.
If approved, the capital injection would raise Vietcombank’s charter capital to VND83,557 billion, although this figure still falls below the minimum required level.
Phoc said the additional charter capital will be used to support Vietcombank’s business operations, investments in infrastructure, and digital transformation. These investments are expected to bolster resources for initiatives that support economic growth and business development.
