ABBank seeks to hike capital through rights issuances of shares

By Dat Nguyen   April 13, 2021 | 03:12 pm GMT+7
ABBank seeks to hike capital through rights issuances of shares
Inside an ABBank office. Photo courtesy of ABBank.
ABBank plans to increase its charter capital by 65 percent to VND9.4 trillion ($407 million) through rights issuances of shares to existing shareholders.

There will be two issuances, one each in the second and third quarters of this year, the Hanoi-based lender said in a plan it outlined to shareholders.

The bank, established in 1993, plans to use the money raised for expansion and ensuring capital adequacy.

It targets increasing pre-tax profits by 44 percent this year to VND1.97 trillion. It achieved 10 percent profit growth last year.

 
 
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