“Vietbank Strengthens Financial Position and Expands Nationwide Network”
On November 14, 2024, Vietbank received confirmation from the State Securities Commission regarding the submission of documents related to its stock dividend issuance. Based on the approval from the State Bank and confirmation from the State Securities Commission, Vietbank will proceed with the necessary steps to complete its charter capital increase as per the plan approved at the 2024 Annual General Meeting of Shareholders.
Specifically, Vietbank will increase its charter capital by VND 1,428 billion by issuing 142.8 million shares as stock dividends from retained earnings as of December 31, 2023, equivalent to a dividend allocation rate of 25% of the total outstanding common shares, including shares issued to existing shareholders under Resolution 01/2023/NQ-ĐHĐCĐ.
The additional capital is expected to be utilized for investing in assets, supplementing capital for business development, expanding its network, ensuring compliance with safety ratios, and enhancing the profitability of Vietbank’s operations. The expected completion date for this capital increase is December 31, 2024.
With this capital increase, Vietbank’s charter capital will rise to VND 7,139 billion, a 36-fold increase compared to its establishment in 2007, reflecting the bank’s continuous efforts to enhance its financial strength. Vietbank remains committed to safe, sustainable, and efficient growth, striving for excellence in governance and compliance with international standards, and the requirements of the Law on Credit Institutions, Enterprise Law, and Securities Law as a large-scale public company.
To strengthen the role of the Board of Directors and enhance flexibility in governance and operations, on November 15, 2024, Vietbank completed the process of obtaining shareholder approval via written resolutions to amend and supplement the Bank’s Charter in accordance with regulations. This move facilitates the bank’s focus on its network expansion strategy and the introduction of new services for customers, thereby actively contributing to the country’s economic growth.
Nationwide Network Expansion with a Focus on Digital Transformation
In November, Vietbank will consecutively inaugurate two new branches in Ca Mau and Binh Phuoc, marking a significant step forward in its southern market expansion strategy. The management team is confident that Vietbank Ca Mau and Vietbank Binh Phuoc will meet the diverse financial needs of individual and corporate customers, especially their capital requirements, thereby fostering local and national economic development.
Along with the opening of the Ca Mau and Binh Phuoc branches, Vietbank will also establish new transaction offices, including Vietbank Bai Chay (Quang Ninh province), Vietbank Thanh Hoa (Thanh Hoa province), Vietbank Ben Cat (Binh Duong province), Vietbank Buon Ho (Dak Lak province), and Vietbank Lam Dong (Lam Dong province). By the end of 2024, Vietbank is expected to have 132 branches and transaction offices, confidently meeting the financial needs of a growing customer base. This expansion connects various economic sectors and contributes to growth in localities across the country.
In addition to network development, Vietbank is channeling its resources into digital transformation, service diversification, and quality enhancement. The bank remains committed to maintaining and strengthening its infrastructure and information technology systems to ensure uninterrupted and secure business operations.
With its focus on enhancing financial capacity, improving governance and operations, expanding its network, and embracing digital transformation, Vietbank has laid a solid foundation for its growth trajectory in 2025 and beyond.
Services
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