Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) plans to hike chartered capital continuously from 2011 to 2015. Till 2015, Sacombank targets to reach chartered capital of 28 trillion dong, 490 trillion dong of total assets and 11 trillion dong of profit, according to Dang Van Thanh, the bank's representative of director board.
Particularly, in 2011, STB's chartered capital would be 11.953 trillion dong, and it would be 15 trillion dong in 2012, nearly 19 trillion dong in 2013, 23.679 trillion dong in 2014 and 28.65 trillion dong in 2015.
STB's equity would also increase to 51 trillion dong in 2015, total assets from 198 trillion dong of 2011 to 490 trillion dong in 2015.
As for profit plan, STB's profit would be from 3.6 trillion dong in 2011 to 5.3 trillion dong in 2012, 6.7 trillion dong in 2013, 8.8 trillion dong in 2014 and 11 trillion dong in 2015.
Sacombank's shareholders' meeting passed pre tax profit plan 2010 of 2.4 trillion dong, increasing 26 percent year-on-year.
Also in 2010, the bank plans to issue shares to foreign markets with total value of $100 million.
STB also adjusted the offering price of shares to existing shareholders and the bank's employees from 15,000 dong per share to 12,000 dong per share.
Some targets in 2010 of Sacombank:
* Total assets: 146 trillion dong, a year-on-year increase of 48 percent.
* Chartered capital: 9.179 trillion dong, increasing 37 percent year-on-year.
* Total dong deposits: over 129 trillion dong, rising 50 percent y-o-y.
* Total outstanding loans in dong: 80 trillion dong, 45 percent rise y-o-y.
* Pre tax profit: 2.4 trillion dong, up 26 percent y-o-y.
* Dividend payment: 14-16 percent on chartered capital.
* Capital adequacy ratio (CAR): 9-11 percent.
* Ratio of lending on total deposits: 60-70 percent.
* Return on assets (ROA): 1.4-1.6 percent.
* Return on equity (ROE): 14-16 percent.
* Overdue debt ratio: less than 2 percent.
The lender plans to open three more branches in Viet Tri-Thai Nguyen, Tuyen Quang and Lao Cai.
In addition, STB will promote proceedings to upgrade Cambodia branch to become 100 percent Sacombank-invested subsidiary and establish branches or subsidiary in Burma after getting approval from the government.
STB is waiting for approval to set up finance arm and insurance arm.
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