HCM City Housing Development Commercial Joint Stock Bank (HD Bank)'s shareholders' meeting on March 15 passed some important contents.
Accordingly, the lender plans to scale up chartered capital to 3.5 trillion dong within this year.
Accordingly, in the first phase, the bank will increase its chartered capital from 1.55 trillion dong to two trillion dong via offering more shares to the existing shareholders at the ratio of 4:1.16 and the offering price at 10,000 dong per share.
In the second stage, the bank will hike chartered capital from two trillion dong to 3.5 trillion dong through issuing 950 billion dong of shares to existing shareholders at the ratio of 3:1.425, 50 billion dong of shares to the bank's employees and 500 billion dong of shares to the bank's strategic partners. The offering price for existing shareholders and the bank's staff will be 10,000 dong per share. The share price for strategic partners will be decided by the bank's director board.
In 2009, the bank delayed issuing bonds and hiking chartered capital due to unfavourable market conditions to ensure interests of shareholders.
Also in 2009, HD Bank posted 19.127 trillion dong in total assets, 17.119 trillion dong of total deposits, 8.231 trillion dong of total outstanding loans, and non-performing loan (NPL) ratio at 1.1 percent, 255 billion dong of pre tax profit and after tax profit at 194 billion dong.
The lender also plans to pay 10 percent cash dividend for 2009.
HD Bank also invested in companies such as Vietnam Union Securities Investment and Fund Management Co, Phu Gia Gold Co and Cadif Investment Joint Stock Co.
In 2010, HD Bank will spend some 1.083 trillion dong to invest and buy shares into companies.
Also in 2010, HD Bank will support about 700 billion dong for the bank's medium and long term capital source to develop bond investment activities and medium and long term loans.
HD Bank plans to develop its network to 90 transaction offices and branches in big cities.
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