AsemconnectVietnam - Saigonbank (code: SGB) has just announced documents for the 2025 General Meeting of Shareholders (AGM) held on April 24 in Ho Chi Minh City, with pre-tax profit reaching VND300 billion, three times higher than the level achieved in 2024.

Total assets are expected to reach VND34,900 billion, up 5%; Total outstanding loans target VND24,700 billion, up 10% compared to the level achieved in 2024; Mobilized capital reaches VND30,100 billion, up 5%; foreign payments 300 million USD.
To achieve the target, the bank said it will continue to maintain a balance between capital sources and capital use on the principle of ensuring liquidity and optimizing business efficiency. At the same time, apply many diverse capital mobilization channels developed on digital platforms, complying with the State Bank's regulations on interest rates.
Regarding the profit distribution plan, the Bank's remaining profit in 2024 after setting aside legal funds is more than VND63 billion. The expected profit in 2024 used to issue shares to increase equity capital from equity is more than VND24.2 billion.
Accordingly, the Bank plans to issue nearly 33.88 million shares at a rate of 10% to increase equity capital from equity. The implementation time is in 2025, after consulting the General Meeting of Shareholders and completing legal procedures. If the above issuance plan is completed, the Bank's charter capital will increase from VND3,388 billion to VND3,727 billion.
Saigonbank plans to use the additional capital to invest in facilities, technology infrastructure, invest in digital transformation information technology infrastructure innovation; gradually meet the charter capital requirements of the State Bank; expand credit scale, capital business...
N.Nga
Source: VITIC/Tinnhanhchungkhoan