17:55 (GMT +7) - Thursday 27/10/2016

Banking & Finance

Vietcombank targets 13.5% increase in assets

Released at: 12:02, 08/04/2016

Vietcombank targets 13.5% increase in assets

Major targets for 2016 submitted to recent AGM.

by Hung Nguyen

Vietcombank has set a target of VND765.43 trillion ($34.33 billion) in assets this year, an increase of 13.5 per cent against 2015, according to documents submitted at its 2016 annual general meeting.

Other targets for the year include granting credit of VND452.96 trillion ($20.31 billion), an increase of 17 per cent against 2015, customer deposits and valuable paper issuance reaching VND578.45 trillion ($25.94 billion), an increase of 15 per cent, profit before tax of VND7.5 trillion ($336.45 million), an increase of 10 per cent, a dividend of a maximum of 10 per cent, and non performing loans to be lower than 2.5 per cent.   

The bank also set a target of increasing its charter capital via issuing bonus shares to existing shareholders and a private offering of shares to foreign investors, with a proportion of 35 per cent and 10 per cent of the bank’s charter capital at the time of issuance.

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