Joint Stock Commercial Bank for Foreign Trade of Viet Nam announced the resolution of the 2014 Annual General Meeting as follows:
Article
1: Approving the reports of the Board of Directors, the Board of Management, the
Board of Supervisors on their activities; the audited financial statements for
the year 2013 and profit distribution plan for 2013 of Vietcombank with the
following important points.
1. Business
results in 2013:
-
Total assets: VND468,994 billion
-
Loans outstanding: VND274,314 billion
-
Fund mobilization from the economy: VND340,260
billion
-
Profit before tax: VND5,743 billion
-
Number of staffs: 13,864 persons
-
Salary expenses/profit before tax (excluding
salary): 33%
-
New branches and transaction offices: 22
-
NPL ratio: 2.73%
2. 2013
profit distribution:
-
Profit after tax in 2013: VND4,273,245
million
-
Adjustment profit based on the 2012 audited
FS: (VND6,214) million
-
Profit after tax for distribution: VND4,267,031
million
-
Deduction for additional charter capital
reverse fund: VND213,352 million
-
Deduction for reverse financial fund: ND426,703
million
-
Deduction for bonus & welfare fund: VND685,677
million
-
Dividend (12%): VND2,780,901 million
-
Retained earnings: VND160,398 million
Article
2: Approving the business plan for 2014 with some main targets as follows:
-
Total assets: VND520,583 billion, increasing
11%
-
Loans outstanding: VND309,975 billion,
increasing 135
-
Fund mobilization from the economy:
VND384,493 billion, increasing 13%
-
Profit before tax: VND5,500 billion
-
Number of staffs: =<14,834 persons,="" increased=""><>
-
Salary expenses/profit before tax (excluding
salary): 37%
-
New branches: 16
-
NPL ratio: below 3% total loans
-
Dividend payout: 10%
The
General Meeting authorized to the Board of Directors to implement the
aforementioned approved plan and to adjust targets as needed.
Article
3: Approving the remuneration of the Board of Directors and the Board of
Supervisors in 2014: 0.35% of profit after tax, from the Bank’s approved salary
budget.
Article
4: Approving plan of charter capital raising in 2014 as follows:
1. The
expected charter capital to increase in 2014: VND3,476,125,610,000 (the actual
increased capital may be smaller the above number due to the resolution of the
odd shares). The charter capital after capital raising: VND26,650,296,370,000
2. Stock
type: common shares, VND10,000/share
3. Total
issued shares: 347, 612561 bonus shares to existing shares from surplus capital
and retained capital with the ratio of 15%.
4. Objects
of the offering: The existing shareholders in the shareholders’ list at the
date of registration shall be entitled to receive bonus shares in accordance
with the regulation of laws and the capital raising plan approved by the AGM.
5. The
General Meeting authorized to the Board of Directors to report and to obtain
the approval from the competent authorities, to review and amend as per the
request of the competent authorities in accordance with laws.
Article
6: Approving the amending the company’s regulation.
Article
7: This resolution takes effect as from April 23, 2014.
