ABBank pays 7.4 per cent stock dividend
ABBank pays 7.4 per cent stock dividend
An Binh Commercial Joint Stock Bank (ABBank) has paid a 7.4 per cent dividend for 2017 in shares.
The 39 million shares increased the lender’s charter capital from over VND5.3 trillion (US$229.13 million) to VND5.7 trillion ($246.16 million).
Dao Manh Khang, its chairman, said: “Increasing the charter capital plays an important role in creating a better financial foundation for ABBank. The consensus of shareholders in issuing shares to pay dividends and increase charter capital proved the trust and expectation of shareholders in ABBank’s development potential. ”
Among the bank’s strategic goals for this year are adopting digital banking technologies to come up with competitive products for the retail customer and small and medium-d businesses, cut costs and improve efficiency and focus on risk management.
At its annual general meeting recently, shareholders approved a number of business targets for 2019, including deposits of VND82.6 trillion and loans outstanding of VND61.3 trillion.
The bank targets pre-tax profit of VND1.22 trillion, a 35 per cent increase from last year.
