HDBank to raise chartered capital to 389 million USD
The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) will increase chartered capital to almost 8.83 trillion VND (389 million USD) by issuing 56.7 million shares.
HCM City (VNA) – The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)will increase chartered capital to almost 8.83 trillion VND (389 million USD)by issuing 56.7 million shares.
Of the sum, 292billion VND (12.8 million USD) will be earmarked for building its headquarters andexpanding operations and 437 billion VND (19.2 million USD) will be used for medium-and long-term loans.
These targetsare parts of a plan approved at the bank’s annual stakeholders meeting held inHo Chi Minh City on April 21.
HDBank generaldirector Nguyen Huu Dang said the bank has expected to post 1.3 trillion VND (57.2million USD) pre-tax profits, a rise of 13 percent, and keep its bad debt rate below3 percent.
HDBank plans toincrease the number of transaction offices to 240 from the current 221 by theend of the second quarter.
Between 2017 and2021, HDBank will work to achieve an average annual ownership capital growth of15 percent. By the end of 2021, it plans to raise chartered capital to 15trillion VND (660 million USD) and pre-tax profits to 2.5 trillion VND (110million USD).
In 2016,HDBank’s pre-tax profits and credit outstanding balance exceeded 1.1 trillionVND (48.4 million USD) and 90.1 trillion VND (3.96 billion USD), respectively.-VNA
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Illustrative image (Source: VNA) 
