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As of 8:55 AM, 244 shareholders participated, representing a total of more than 1.27 billion shares, corresponding to 72.9% of the shares entitled to vote. The GMS has approved the working regulations with a pass rate of 99%.
 Eximbank GMS held on the morning of 26/04/2024
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Bamboo Capital Chairman elected to the Board of Directors
At this congress, the Board of Directors submitted to the GMS for approval the dismissal of Ms. Le Thi Mai Loan from the position of Member of the Board of Directors. Previously, Ms. Loan resigned due to personal reasons on January 31, 2024. Ms. Loan was elected to the Board of Directors at Eximbank’s extraordinary GMS on February 14, 2023.
Eximbank will elect to add 1 member to the Board of Directors for term VII (2020-2025) according to the list of candidates approved by the State Bank. According to the documents announced at the congress, the candidate elected to be added is Mr. Nguyen Ho Nam – Chairman of Bamboo Capital Joint Stock Company.
Declared total dividend of 10% in cash and shares
In 2023, Eximbank made 2.146 billion VND in after-tax profit. After setting aside funds, Eximbank had 1.949 billion VND in retained earnings as of December 31, 2023. After setting aside funds for bonuses and welfare, the Bank had 1.740 billion VND to distribute as dividends to shareholders, equivalent to 10%. Of which, 7% in shares (1.219 billion VND) and 3% in cash (more than 522 billion VND).
After the dividend distribution, the Bank had nearly 59 billion VND in retained earnings.
Regarding the share dividend plan, Eximbank plans to issue an additional 121.86 million shares, equivalent to 7% (shareholders owning 100 shares will receive a maximum of 7 new shares).
The source of capital for the issuance is from retained earnings accumulated up to 2023 after setting aside funds. If the issuance is successful, Eximbank’s charter capital will increase from VND 17,470 billion to a maximum of VND 18,688 billion.
The additional capital will be used by the Bank for business operations such as investing in infrastructure, technology infrastructure, building offices, expanding the network of operations, and investing in fixed assets. The expected implementation time is within 2024.
Previously, in 2023, Eximbank paid dividends in shares twice, at the rate of 20% and 18%. The Bank paid dividends in shares for the first time in February 2023 from retained earnings of 2017, 2018, 2019, 2020, and 2021.
Pre-tax profit target for 2024 is 5,180 billion, an increase of 90%
With the additional capital, in 2024, Eximbank sets a pre-tax profit target of 5,180 billion VND, an increase of up to 90% compared to the 2023 results. It is expected that by the end of 2024, total assets will reach 223,500 billion VND, an increase of 11% compared to the beginning of the year. Capital mobilization and credit balance will reach 175,000 billion VND and 161,000 billion VND, respectively, an increase of 10.5% and 14.6%. The bad debt ratio is controlled at 1.8%.
Relocation of the head office
Eximbank also seeks shareholders’ opinions on changing the location of the head office. Eximbank said that the current head office is located in Vincom Center Building, 7 Le Thanh Ton, Ben Nghe Ward, District 1, HCMC, which Eximbank has leased as its head office since 2011.
After 13 years of operation, some technical and physical systems have deteriorated, limiting the promotion of the brand image and not commensurate with the Bank’s position.
Along with the orientation roadmap to continue implementing the investment in building the head office on the land plot at 7 Le Thi Hong Gam, District 1, HCMC is still a top priority to fully exploit the potential and value of this land plot. Currently, the project is being implemented to seek opinions from the City’s leaders on the implementation of local adjustments to the zoning plan to comply with the changes in the State’s planning and construction policies.
While waiting for the implementation of the head office construction at 7 Le Thi Hong Gam, Eximbank needs to rent other office buildings as its headquarters.
After the survey process, the Board of Directors found that the Office Building (Fideco Center) at 28 Phung Khac Khoan, Da Kao Ward, District 1, HCMC meets Eximbank’s needs and plans to submit to the GMS for approval to move the head office to this location.
To be updated…
