VPBank plans share listing

The Viet Nam Prosperity Bank, or VPBank, is dealing with procedures to list shares on the stock market, a shareholders' meeting heard on Monday.

VPBank Chairman Ngo Chi Dung said the listing scheme was in accordance with regulations of the State Bank of Viet Nam, which asked all domestic banks to list shares on regular exchanges or the unlisted public company market by the end of this year.

The bank was waiting for guidance from the State Securities Commission, he said.

This year, the bank plans to increase its charter capital from VND9.2 trillion to VND11 trillion (from US$408.9 million to $488.9 million) by paying dividend in shares. It projects a pre-tax profit of VND3.2 trillion and a total asset value of VND246.2 trillion in 2016.

Last year, the bank reported a pre-tax profit of VND3.1 trillion and a total asset value of VND193.9 trillion.

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