(NADS) - Issuing an additional 582.6 million shares, increasing its charter capital to VND44,667 billion, Chairman Tran Hung Huy's Bank continuously received "good news" after surpassing Agribank to become the bank with the 6th largest charter capital in the Vietnamese banking system, only after "big guys" such as VPBank, BIDV, Vietcombank, VietinBank and MBBank.
In this issuance, ACB issued an additional 582.6 million shares with a dividend payout ratio of 15%, equivalent to each shareholder owning 100 shares receiving 15 new shares. The number of outstanding shares of ACB therefore increased from 3.88 billion to 4.46 billion shares. This move not only helps increase charter capital but also strengthens medium and long-term capital sources for credit activities, government bond investment, infrastructure investment and strategic projects of the bank.
In addition to issuing shares, ACB also pays cash dividends at a rate of 10%, meaning each share will receive VND1,000. With nearly 3.9 billion shares in circulation, the total amount that ACB will spend on this dividend payment is VND3,884 billion. Thus, the total amount that ACB will use to pay dividends in shares and cash to shareholders in 2023 is up to VND9,710 billion.
ACB's business results in the first quarter of 2024 were also very positive. The bank recorded net interest income of VND6,722 billion, up 8% year-on-year. However, due to a sharp increase in provisioning costs, ACB's pre-tax profit decreased slightly by 5% to VND4,892 billion. However, ACB still targets pre-tax profit of VND22,000 billion in 2024, up 10% compared to 2023.
ACB has been affirming its position in the Vietnamese banking market. Officially operating since 1993, ACB has grown strongly with a network of branches and transaction offices spanning 49 provinces and cities nationwide, and a team of more than 13,000 employees. The bank provides a wide range of diverse products and services, always meeting the increasing needs of customers.
With strategic steps and impressive achievements, ACB not only consolidates its position in the top banking system of Vietnam but also promises to continue bringing sustainable values to shareholders and customers in the future.
Source: https://nhiepanhdoisong.vn/acb-tang-von-dieu-le-len-hon-44-000-ty-dong-vuot-qua-mot-ong-lon-trong-big-4-viet-nam-14702.html
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