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

By Dat Nguyen   August 12, 2021 | 10:25 pm PT
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.

 
 
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