VnExpress International
The most read Vietnamese newspaper
Vietnamese Edition
| Contact us | Follow us on       
Business DataSpeaks Property Billionaires Companies Markets Economy Money Quiz
reddit Share via X Print

VPBank to become Vietnam’s largest lender by charter capital next year

By Dat Nguyen   August 12, 2021 | 10:25 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
VPBank to become Vietnam’s largest lender by charter capital next year
A staff assists a customer in a VPBank office. Photo courtesy of VPBank
VPBank is set to triple its capital to VND75 trillion ($3.29 billion) next year, which will make it highest of any Vietnamese bank’s.

It plans to issue new shares to existing shareholders at a rate of 80 percent, its management told analysts and stock investors Thursday.

The bank will also make a private placement of a 15 percent stake to a foreign strategic partner to increase its capital.

Its current charter capital is VND25.3 trillion.

Vietnam’s biggest lender by charter capital is BIDV (VND40.2 trillion).

VPBank’s pre-tax profits for the first half of 2021 jumped by 37 percent to VND9.04 trillion.

The bank is also eyeing new businesses such as investment banking and wealth management.

Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
 
 
go to top