On the afternoon of April 21, Vietnam Maritime Commercial Joint Stock Bank (MSB) held its 2022 annual general meeting of shareholders with many plans presented and shareholders' opinions solicited.
Presenting at the congress, Mr. Nguyen Hoang Linh, General Director of MSB, said that this year the bank aims to achieve pre-tax profit of VND 6,300 billion, an increase of 9% compared to 2022; outstanding credit increased by 15%; capital mobilization increased by about 10%.
The 2023 plan is set on a cautious basis, maintaining effective growth while ensuring capital safety, minimizing credit risks, and controlling bad debts. In particular, the bank said it will accelerate the progress of capturing market share in the retail banking segment so that this segment becomes the main growth driver of MSB.
MSB shareholders meeting afternoon of April 21
Notably, the bank's Board of Directors (BOD) will submit to the shareholders' meeting for approval the merger of a credit institution, a commercial bank operating normally in Vietnam, with criteria on total assets and equity at the average level in the market, and good credit quality.
MSB representative said the purpose of the merger is to take advantage of the network system, human resources and business activities of the acquiring bank, thereby increasing the scale of operations and successfully implementing the banking digitalization strategy.
The Board of Directors submits to the General Meeting of Shareholders for approval the authorization for the Board of Directors to perform all work and contents related to the implementation and execution of the merger.
General Director Nguyen Hoang Linh said that MSB has experience merging with MDB Bank (in 2015), the Board of Directors as well as the Executive Board are very cautious when making decisions to merge any bank. Based on the presentation to shareholders, the Executive Board will make a choice to decide.
"The issue of bank merger was not decided by the Board of Directors but was submitted to shareholders for approval and this matter will ultimately depend on the final decision of the State Bank. They will check and evaluate whether MSB's capacity is sufficient or not before approving. This is the policy. Shareholders can vote to agree or disagree" - Chairman of the Board of Directors Tran Anh Tuan explained to shareholders.
The voting results at the meeting showed that MSB's shareholders' meeting did not approve the proposal on the plan to merge with another bank. Only over 56% of the shareholders attending agreed with the merger plan, not reaching the required rate of 65%.
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