BAC A BANK increases its charter capital to VND 7,085 billion.

Phu Huong• November 26, 2020 15:15

(Baonghean.vn) - Recently, Bac A Commercial Joint Stock Bank (BAC A BANK) announced an increase in its charter capital from VND 6,500 billion to VND 7,085 billion, an increase of VND 585 billion.

BAC A BANK thường xuyên có các chương trình ưu đãi, cung cấp nguồn tín dụng ưu đãi cho khách hàng. Ảnh: P.V

BAC A BANK regularly offers promotional programs, providing preferential credit sources for customers. Photo: PV

BAC A BANKThe State Bank of Vietnam has approved the increase in charter capital according to Document No. 5456/NHNN-TTGSNH.

According to the proposal approved at the 2020 Annual General Meeting of Shareholders, BAB will increase its capital from the bank's remaining after-tax profit in 2019, after allocating funds. Specifically, BAB A BANK will issue an additional 58.5 million shares to pay dividends, with a dividend payout ratio of 9.0%.

The increased charter capital is expected to be allocated as follows: VND 30 billion for investment in fixed assets and network development, VND 10 billion for other investments, and VND 545 billion for providing credit to customers in priority sectors as directed by the bank.
In addition, in 2020, the bank also plans to list all of BAB's outstanding shares on the stock exchange.stock market.

BAC A BANK thông báo tăng vốn điều lệ từ 6.500 tỷ đồng lên 7.085 tỷ đồng. Ảnh: PV

BAC A BANK announced an increase in its charter capital from VND 6,500 billion to VND 7,085 billion. Photo: PV

Alongside its efforts to enhance financial capacity, BAC A BANK has recently been continuously diversifying its portfolio of banking and financial products, improving customer service quality; and consistently demonstrating its commitment to pursuing a differentiated strategy as an investment advisory bank for businesses in high-tech applications in agriculture, rural areas, healthcare, education, and supporting industries for agriculture, aiming to elevate this generation of investors to a new level and integrate them internationally.

The increase in charter capital is an important step in the long-term development strategy of Bac A Commercial Bank, demonstrating the leadership's determination to make BAC A BANK one of the leading commercial banks with a focus on safe, efficient, and sustainable growth.

Phu Huong