LienVietPostBank has planned to deposit shares at the Vietnam Securities Depository and listing on the UPCoM.

The news was released at the bank’s annual shareholders meeting on Saturday.

By December 31, 2016, the bank’s charter capital reached VND6.46 trillion (US$284.6 million), while total assets were nearly VND142 trillion. It plans to increase charter capital to VND7 trillion this year through the issue of 54 million shares.

The bank posted pre-tax profit of nearly VND1.35 trillion in 2016, 3.2 times higher than the previous year.

Thanks to a recoupment of VND509 billion of non-performing loans (NPL) in 2016, the bank’s NPL ratio by the end of 2016 stood at 1.08 per cent of total outstanding loans.

With nearly 140 branches and transaction offices nationwide, LienVietPostBank’s network ranks first among the country’s joint stock commercial banks. 

VNS