BAC A BANK approved the plan to increase charter capital to nearly 9,900 billion VND
(Baonghean.vn) - On April 22, 2023, in Nghe An, Bac A Commercial Joint Stock Bank successfully held the 2023 Annual General Meeting of Shareholders. The Board of Directors presented to shareholders and approved the plan to increase charter capital to nearly VND 9,900 billion.
The 2023 Annual General Meeting of Shareholders of Bac A Commercial Joint Stock Bank (BAC A BANK) took place with the participation of shareholders, accounting for 94.06% of the shares with voting rights at the Meeting, along with representatives of the State Bank; Board of Directors, Supervisory Board, Executive Board and representatives of officers and employees of BAC A BANK.
 |
Panorama of the Congress. Photo: BAB |
Continued good growth
BAC A BANK's report stated: By the end of 2022, the bank's total assets reached nearly VND 130,000 billion, charter capital reached more than VND 8,134 billion, capital mobilization increased by 6.1% compared to 2021. With flexible management, closely following the capital market situation, BAC A BANK continues to achieve good growth results, ensuring liquidity and meeting capital sources for the bank's business operations.
 |
Deputy General Director Chu Nguyen Binh operates. Photo: BAB |
The figures shown show that credit growth always ensures compliance with the State Bank's credit limit regulations, credit quality is increasingly improved. Bad debt continues to be well controlled, bad debt handling has completed the set target, the bad debt ratio in 2022 is 0.55%, down 0.22% compared to 2021. Pre-tax profit reached VND 1,032 billion, completing 103.2% of the business plan assigned by the General Meeting of Shareholders. Investment consulting activities continue to be promoted for projects related to high-tech agriculture, healthcare, education, and resort tourism.
At this Congress, the Board of Directors of BAC A BANK presented to shareholders and approved the plan to increase charter capital to nearly VND 9,900 billion in 2 forms: Issuing common shares to pay dividends to existing shareholders and offering common shares to existing shareholders. When the issuance is successful, BAC A BANK's charter capital will increase to nearly VND 9,900 billion in 2023. The Congress also agreed on the 2022 stock dividend rate of 7.5%, the source of implementation is taken from the remaining after-tax profit of BAC A BANK in 2022, after setting aside funds.
In addition, BAC A BANK has completed Phase I of the Kiosk Banking Project, marking an important turning point in the digital transformation process. After the first phase of official operation, the Kiosk Banking system has operated stably and has initially received attention and positive feedback from customers.
Implementing the application of risk management standards according to the regulations of the State Bank and international practices, in 2022, BAC A BANK completed the entire 3-pillar risk management project according to Circular 13/NHNN applying Basel 2 standards, completed the internal assessment component on capital adequacy, and accepted a series of documents, processes, methods, and reports.
 |
Recognizing the positive contributions of shareholders to improve the bank's operations, the Presidium also satisfactorily answered all questions from shareholders. Photo: BAB |
Established in 1994, with a charter capital of 20 billion VND, after nearly 3 decades of construction and growth, Bac A Bank has chosen to take steady steps to achieve the goal of becoming a universal bank. From the early days until now, BAC A BANK has planned a clear and distinct direction, with a development strategy suitable to its operational capacity.
Efforts to prepare for launching Digital Banking products
In 2023, BAC A BANK will continue to follow the established direction, which is to build and develop a modern bank with advanced management, in accordance with Vietnamese and international practices and standards; fully and diversely meet the needs of financial and banking services of the economy; focus on investment consulting and lending to enterprises applying high technology in agricultural - forestry - fishery production, processing and supporting industries, healthcare, education, etc.
Bank leadership representative informed: BAC A BANK will continue to build and implement safe and effective business plan goals through solutions to increase the scale and quality of equity capital, resolutely handle bad debt, continue to improve the quality of asset portfolio, promote appropriate credit growth, restructure capital sources towards sustainability, develop network system, develop market and retail products and services, upgrade and synchronize information technology system.
 |
Shareholders vote at the 2023 Annual General Meeting of Shareholders. Photo: BAB |
Based on the business plan developed at the beginning of the year, in the 2023 business orientation plan of BAC A BANK, there have been adjustments in accordance with the operating situation and forecast of the business environment in 2023, compared to 2022. Accordingly, it is expected that: Total assets will increase by 7.9%; charter capital will increase by 21.2%; customer deposits will increase by 5.0%; outstanding loans will increase by 9.6%; revenue from services and guarantees will increase by 59%; pre-tax profit will reach VND 1,100 billion, the number of transaction points will increase by 12 points.
In the exciting atmosphere of the Congress, the attending shareholders discussed and asked questions related to the bank's development orientation in 2023, focusing on issues such as: Important indicators of the bank; management of deposit and lending interest rates; solutions and implementation activities of BAC A BANK; risk management in the context of very complicated global and Vietnamese economic developments; management of life insurance and corporate bonds at BAC A BANK.
 |
Hero of Labor in the renovation period, Vice Chairman of the Board of Directors, General Director Thai Huong spoke and answered shareholders. Photo: BAB |
Speaking at the Congress, Labor Hero Thai Huong - Vice Chairman of the Board of Directors, General Director of BAC A BANK said: In 2022, the domestic and world economies have just experienced a pandemic and crisis, but the Board of Directors has proactively led and been steadfast in directing the work so that BAC A BANK can firmly overcome all difficulties, always receiving the trust and support of customers, partners and shareholders.
Through difficult times, BAC A BANK has received positive guidance from the authorities to help the bank firmly step on the chosen path: Investment consulting for high-tech agricultural enterprises, personal loans for agriculture, cooperative loans... In 2023, BAC A BANK will promote cooperative loans with specialized products, exploit the customer system of new-style cooperatives, and expand market scale.
Keeping up with the digital transformation trend of the entire system, BAC A BANK has deployed Digital Banking services with large investment costs, expanded research and acquired world-class terminal technology, cooperated with leading consultants to choose the most correct and shortest development direction so that by 2024 - when BAC A BANK turns 30 years old - it will launch a true Digital Banking product to serve customers.
The 2023 Annual General Meeting of Shareholders of BAC A BANK was successfully held. The entire meeting process was carried out in accordance with the prescribed legal procedures. The minutes of the meeting were approved by 100% of the shareholders with voting rights attending the meeting and received the support and high consensus of all attending members./.
