AsemconnectVietnam - On May 29, the Board of Directors of Vietnam International Commercial Joint Stock Bank (VIB) issued a resolution approving the implementation and implementation of the plan to increase charter capital for the subsidiary.

Specifically, the Board of Directors of VIB decided to implement and implement the plan to increase the charter capital of the one member limited liability company Debt Management and Asset Exploitation of Vietnam International Commercial Joint Stock Bank (VIBAMC) from VND350 billion to VND850 billion, equivalent to an additional increase of VND500 billion. The capital for implementation is from VIB's equity.
On November 18, 2022, VIBAMC had its charter capital increased from VND100 billion to VND350 billion by VIB, corresponding to an additional increase of VND250 billion from VIB's equity.
VIBAMC's main business is handling loan security assets, accepting mortgages, pledges and guarantees of bad debts under VIB system for management, exploitation, commercialization in the form of a one-time collection of money, in addition to warehousing and storage of goods.
VIBAMC was established in 2009 and is a 100% owned subsidiary of VIB. Head office is at 12th floor, Coninco Tower, 4 Ton That Tung, Trung Tu ward, Dong Da district, Hanoi.
As of December 31, 2022, the Company's total assets reached VND464 billion. The company has an asset valuation network of 24 units in VIB's operating areas.
Regarding VIB, by the end of the first quarter of 2023, VIB recorded revenue of VND3,362 billion, up 18% over the same period last year; pre-tax profit reached VND2,694 billion, up 18% over the same period last year.
Regarding the business plan for 2023, VIB's Annual General Meeting of Shareholders also approved the targets including expected profit before tax of VND12,200 billion, up 15.3% over the previous year; total assets increased by 25% to VND428,500 billion; credit balance also increased by 25% to VND292,500 billion; capital mobilization increased by 26.2% to VND292,600 billion.
Besides, VIB's General Meeting approved the plan to increase charter capital to VND25,368 billion, up 20.36%; paying 35% dividend, with maximum 15% cash dividend, 20% bonus shares.
Thus, by the end of the first quarter of 2023, VIB has completed 22% of the plan for profit before tax for the whole year.
N.Nga
Source: VITIC/Tinnhanhchungkhoan