The board of directors is authorised to select a consultant, prepare documents and decide a listing schedule. TCB shares will be floated on UPCoM and then shifted to HCM City or Hanoi exchange.

According to the Ministry of Finance’s Circular 180/2015/TT-BTC dated November 13 last year on registration of trading of unlisted securities on the trading system, public companies that have yet to float shares on an exchange must register for trading on UPCoM no later than December 31, 2016.

Techcombank’s board said floating shares on HCM City or Hanoi exchange is necessary to improve liquidity, ensure transparency and enhance the lender’s prestige.

Techcombank looks to attain VND3.54 trillion (US$158.8 million) in pre-tax profit this year, a 74 percent increase from a year earlier, as its credit growth is projected at 18 percent. Its market cap is expected to reach $5 billion and the return on equity (ROE) ratio at 20 percent by 2020.

In the coming years, Techcombank will concentrate more on the retail segment, boost lending to small enterprises and improve revenue from other business sectors. The bank wants to acquire an insurance company.

Techcombank’s total assets exceeded VND191.9 trillion and its pre-tax profit rose by 43.8 percent year-on-year to nearly VND2.04 trillion last year. Its capital mobilisation edged up 8 percent to VND142.24 trillion and outstanding loans leapt 39 percent to VND111.6 trillion.

The capital adequacy ratio (CAR) had reached 14.74 percent by end-2015.

Techcombank leaders decided not to pay a 2015 dividend in cash for shareholders to use profit for operation.

N.Nga

Source: cafeF.vn