Military Bank to issue new shares to hike chartered capital

Military Joint Stock Commercial Bank (MB) announced that it has started receiving applications to register to buy shares at the first tranche from April 15 to 30 and will receive money to buy its shares from May 1 to 15.
In the first tranche, existing shareholders will be allowed to buy a volume of shares equivalent to 40% of the total shares that they currently possess, of which 30% of these shares are bought at a price of one million dong each and 10% of the shares are bought at a negotiated price.
Total raised capital, after the two issues (315 billion dong, equivalent to 315,000 shares with the par value of one million dong) will be used to raise the chartered capital of MB to 780 billion dong by the end of 2006.
It is reported that MB has successfully completed its targets set for the first quarter of 2006, of which total deposits of the bank reached 83% of the full-year target.
Particularly, the “Enjoy the Spring together with MB” programme starting from January 1 has brought back about 732 billion dong for MB, double its anticipated plan.
Total assets of MB, by March 31, had reached nine trillion dong, equalling 78% of the full-year plan. MB also earned 60 billion dong in pre-tax profit, touching 32% of its full-year profit target.
Intellasia analyses that if MB continues maintaining this growth speed, it surely will see over every 2006 target soon. Added to very positively quantitative targets, other projects such as restructuring its operation towards risk management and customers, modernising info-tech, human resource development, branding management and enhancing cooperation with local and international partners are being boosted strongly.

 

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