BAC A BANK increased its charter capital to VND 7,085 billion
admin 26-11-2020, 23:51

BAC A BANK increased its charter capital to VND 7,085 billion

Previously, BAC A BANK was approved by the State Bank to increase its charter capital in accordance with Document No. 5456 / NHNN-TTGSNH.

According to the proposal approved at the Annual General Meeting of Shareholders 2020, BAB will increase capital from the remaining profit after tax of the Bank in 2019, after setting up the funds. Specifically, BAC A BANK issued 58.5 million additional shares to pay dividend, with the ratio of 9.0%.

The increase in charter capital is an important step in the long-term development strategy of Bac A Commercial Joint Stock Bank, demonstrating the leadership’s determination to make BAC A BANK one of the leading joint stock commercial banks with oriented for safe, efficient and sustainable growth.

The additional charter capital is expected to be allocated and used 30 billion VND for investment in fixed assets and network development, 10 billion VND for other investments and 545 billion VND to be used to provide credit to customers. belong to the priority areas under the direction of the Bank.

In addition, in this year 2020, the Bank also intends to list all outstanding shares of BAB on the stock market.

In parallel with efforts to improve financial capacity, recently, BAC A BANK has continuously diversified the portfolio of banking and financial products, improving customer service quality; At the same time, she always shows her determination to pursue a different strategy as an investment advisory bank for businesses in the fields of high technology application in agriculture, rural areas, health care, education and sub-sectors. to support agriculture, to achieve the goal of bringing this generation of investors to a new height, integrating with the world.

Source: – Translated by