|
HDBank plans to issue shares, bonds to raise capital
Housing Development Bank, known as HDBank, plans to raise VND1.45 trillion (US$81 million) from convertible bonds and a rights offer this year to double its registered capital.
The Ho Chi Minh City-based bank will sell VND1 trillion worth of two-year notes to shareholders and offer any left over to the public, General Director Nguyen Thi Phuong Thao said in an interview on Tuesday.
HDBank also plans to raise VND450 billion selling 45 million shares to shareholders and staff before the end of June to increase its registered capital to VND3 trillion from VND1.55 trillion, Thao said.
The lender expects to more than double its net income this year to VND128 billion, from VND60 billion last year, according to a company report. Outstanding debt will increase by 24 percent to VND7.6 trillion, it said.
HDBank’s bad debt ratio was 1.9 percent in 2008, and the bank would try to keep the rate below 3 percent even as the economy slows, chairman Nguyen Huu Thanh said.
thanhnien, Bloomberg
|
