HDBank wants to reduce "foreign room" to 17.5%

Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank – HoSE: HDB) has just announced a proposal to the General Meeting of Shareholders on amending and supplementing the bank's charter.

In the document, HDBank said that in order to effectively implement items in HDBank's development strategy in the coming time, ensure compliance with regulations and suit the investment needs of foreign shareholders, HDBank submitted to the General Meeting of Shareholders for approval to amend and supplement a number of contents of the current charter.

Specifically, the bank wants to adjust the maximum foreign investor ownership ratio from 20% to 17.5%.

This ratio may be adjusted by decision of the General Meeting of Shareholders in accordance with relevant legal provisions.

HDBank wants to reduce "foreign room" to 17.5%.

HDBank will collect shareholders' opinions from 8:00 a.m. on June 13, 2024 to 8:00 a.m. on June 24, 2024. The method of collecting opinions is through electronic form on the bank's website. HDBank is currently one of the few large banks that have not selected foreign strategic shareholders.

Previously, HDBank's annual general meeting of shareholders approved many important contents including the 2024 business plan with total assets reaching over VND 700 trillion, a growth of 16% compared to 2023.

Pre-tax profit in 2024 will reach VND15,852 billion, up 22% compared to 2023. The bank also plans to pay a 30% dividend in 2023 (in cash and shares); the dividend target for 2024 is 30%.

Among the above targets, HDBank's General Meeting of Shareholders agreed to increase the dividend payout ratio for 2023 from 25% to 30%, based on the business results achieved last year.

At the same time, the bank also plans to increase its charter capital from VND29,076 billion by 5%, firmly consolidating its capital foundation, creating momentum for sustainable development goals in the following years.

On the stock market, at the end of the afternoon session on June 11, HDB shares decreased by 1.46% to VND23,550/share with a trading volume of nearly 6.4 million units .

Source: https://www.nguoiduatin.vn/hdbank-muon-giam-room-ngoai-xuong-17-5-a667899.html