Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) will organise its shareholders’ meeting on March 19 with an important plan to increase its current charter capital.

VPBank aims to increase its charter capital from VND15.7 trillion (US$689.7 million) to more than VND27 trillion ($1.18 billion) in 2018. — Photo vietnamfinance.vn

The bank aims to increase its charter capital from VND15.7 trillion (US$689.7 million) to more than VND27 trillion ($1.18 billion) in 2018.

At the meeting, VPBank will discuss plans to distribute its profit, increase charter capital by paying stock dividend, issue shares and review its licence.

VPBank targets a pre-tax profit of VND10.8 trillion in 2018, increasing 33 per cent from last year.

To increase its charter capital, VPBank will continue to issue shares for domestic and foreign investors. The total volume of ordinary shares to be offered for sale is 15 per cent of the total number of ordinary shares at the time of issuance. — VNS