This increase from the current VND11.2 trillion ($492.7 million) was allowed as part of a plan approved at this year’s SHB shareholder meeting. SHB will take responsibility for implementing the plan, according to the relevant laws and regulations including the stock ownership limit of its shareholders.
After completing procedures to issue shares, the bank is required to submit an application to the SBV to revise the charter capital.
This year, SHB targeted assets of VND270 trillion, posting a 15 per cent year-on-year increase and capital mobilisation of VND217.3 trillion, or 20 per cent higher than that of last year. Its total outstanding was estmiated at VND191.6 trillion with a pre-tax profit of VND1.75 trillion, representing 18 per cent and 50 per cent increases respectively.
It also planned a dividend payment of 9 per cent while the bad debt rate was less than 3 per cent.