BizLIVE - Ho Chi Minh City Development Commercial Joint Stock Bank (HDBank – ticker symbol: HDB) has just received approval from the State Bank of Vietnam to pay a 25% stock dividend, there by increasing its charter capital to more than VND 20,073 billion.
HDBank Pays 25% Dividend

The plan to pay dividends in 2020 in shares has been approved by the State Bank of Vietnam. Specifically, the Bank will issue more than 398 million shares to pay dividends to shareholders with a ratio of 25%. Capital source for issuance from undistributed profits have been audited and fully set aside according to regulations.

Closing the list of shareholders to receive dividends is expected to be completed in July 2021.

In the first quarter of 2021, HDBank recorded a pre-tax profit of more than VND 2,100 billion, an increase of 68% compared to the first quarter of 2020, and completed nearly 30% of this year target. Service income has doubled compared to the same period last year. Moreover, the potential of bancassurance, consumer finance, credit card and service products is highly promising.

Recently, HDBank has implemented Basel III and has received an upgrade by the international credit rating agency Moody's Investors Service (Moody's) from "Stable" to "Positive". The Asian Development Bank (ADB) also decided to increase the trade finance limit and revolving credit limit for HDBank from $85 million to $150 million. Many international financial institutions highly regard HDBank's stability and development prospects, enhancing bilateral cooperation.

With a new charter capital of over VND 20,073 billion, HDBank is ready for a high growth plan in accordance with the bank’s strategy. 

THANH MAI