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Sunday, July 21, 2024

Lender VCB allowed to raise charter capital

The Saigon Times

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HCMC – The State Bank of Vietnam has allowed Vietcombank, the nation’s biggest listed lender by market cap, to increase its charter capital by issuing shares to pay dividends from the retained earnings of 2019 and 2020.

Once the issue is completed, its charter capital will increase by nearly VND8.6 trillion to around VND55.9 trillion from over VND47.3 trillion, thereby surpassing VietinBank and BIDV to become the second largest bank by charter capital after VPbank.

In the first quarter, the bank made VND11.2 trillion in consolidated profit, up 14% year-on-year and achieved 26% of the 2023 full-year profit plan.

This year, the lender looks to increase its pre-tax profit by at least 15% over 2022, at VND43 trillion.

Closing the trading session today, June 5, VCB was the main driver on the Hochiminh Stock Exchange. It contributed over 3.7 points to the benchmark index with a gain of 3.27% from Friday to VND98,000 per share and a matching volume of nearly 1.3 million shares.

The VN-Index added 6.98 points, or 0.64% from the previous session, to 1,097.82 points, with 201 winners and 199 losers.

Trade on the southern bourse inched down 8.55% in volume and 4.3% in value over the session earlier with 948.3 million shares worth over VND17.5 trillion changing hands. Nearly 54.4 million shares traded in block deals contributed more than VND1.2 trillion to the overall value.

Lender SHB took the lead by liquidity on the southern market today with a matching volume of 44.9 million shares, followed by securities broker VND with 38.1 million shares traded.

On the northern bourse, the HNX-Index of the Hanoi Stock Exchange inched up 0.53 points, or 0.24% from the previous session, to 226.56 points.

Trade on the northern market amounted to more than VND1.6 trillion with 107.2 million shares changing hands.

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