The State Bank of Vietnam has approved a plan to increase OCB’s charter capital through a stock dividend issuance to existing shareholders at a rate of 20%, with a maximum amount of VND 4,109 billion. This decision follows the approval of the plan by the bank’s General Meeting of Shareholders.
In recent years, OCB has been one of the most active banks in continuously increasing its charter capital. It is now among the largest private banks in the system in terms of charter capital. Along with its continuous business growth plans, the capital increase is essential to enhance the bank’s financial capacity. Specifically, it will enable OCB to expand its scale, increase its competitiveness, and support its network expansion strategy. Additionally, the bank will continue investing in technology systems to modernize its operations, develop new products, and enhance customer service experiences. In the current economic environment, charter capital plays a crucial role as a “buffer,” providing banks with the necessary resources to navigate challenges and unstable economic conditions. It also facilitates banks’ lending activities and enables them to continue providing capital support to the economy, aligning with the government’s directives.
For 2024, OCB targets a pre-tax profit of VND 6,885 billion, representing a 66% increase compared to 2023. By the end of 2024, the bank aims to reach total assets of VND 286,562 billion, a 19% increase from the beginning of the year. The bank also plans to achieve VND 197,346 billion in total market 1 capital mobilization and VND 177,592 billion in total market 1 loan balance, reflecting a 17% and 20% increase, respectively.
As of July 3, 2024, OCB’s share price stood at VND 14,400 per share, reflecting a growth of over 2% since the beginning of the month and more than 8% since the start of the year. The average trading volume was nearly 3 million shares per day.
Despite the current market adjustments, bank stocks are expected to lead the market and attract investment capital in the coming period. The economic recovery is anticipated to support the growth momentum of bank stocks. According to data released by the General Statistics Office, Vietnam’s economy grew by 6.42% year-over-year in the first half of 2024, significantly outpacing the 3.72% growth rate recorded in the same period last year.
| OCB Share Price Movement since the Beginning of the Year |
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