Techcombank plans to list in FY2011

19-Apr-2011 Intellasia | VnEconomy | 8:32 PM

Vietnam Technological Commercial Joint Stock Bank (Techcombank) has said that ending 2010, its total assets were 150.291 trillion dong, up 62 percent against 2009′s, exceeding 17 percent against the year’s plan, pre tax profit at 2.744 trillion dong, up 22 percent against 2.253 trillion dong in 2009 and equalling to 98 percent of the year’s target.

In 2011, Techcombank targets to gain total assets at 182 trillion dong, a year-on-year rise of 21 percent, total deposits at 140 trillion dong, up 65 percent y-o-y, total outstanding loans at 63.513 trillion dong, growing 20 percent y-o-y.

The bank also expects to gain pre tax profit at four trillion dong, up 46 percent y-o-y and develop its network to 342 sites, up 22 percent y-o-y.

Also in the fiscal year 2011, Techcombank plans to hike its chartered capital from 6.932 trillion dong to 8.788 trillion dong. Thus, the bank needs to raise about 1.856 trillion dong via offering 177.589.500 shares (equalling to nearly 1.776 trillion dong) to distribute to the shareholders at the 25.62 percent ratio, another eight million bonus shares for the bank’s employee. The share issuance is scheduled to finalise on June 30, 2011.

The raised capital will be invested in assets for the head office, network equipments (about 2.8 percent), information and technology system (about 47.1 percent) and support the working capital (50.1 percent).

Additionally, the bank’s AGM also plans to list shares on the stock market within this year.

Techcombank plans to organise its annual general meeting (AGM) on April 23 at Melia Hotel, 44B Ly Thuong Kiet, Hanoi.