Viet Capital Bank wants to list on HoSE, change name to BVBank

Viet Capital Commercial Joint Stock Bank (Viet Capital Bank, UPCoM: BVB) has just announced the documents for the 2023 shareholders' meeting with contents such as the 2023 business plan, plan to increase charter capital, and transfer of stock listing to the Ho Chi Minh City Stock Exchange (HoSE).

In 2023, the bank aims to increase profit by 10% compared to the previous year to reach VND502 billion. Total assets increase by 10% to VND86,600 billion, of which outstanding credit is estimated to reach 12% to VND56,963 billion (depending on the approval of the State Bank).

Total mobilization is expected to grow by 16% to reach 69,000 billion VND.

Viet Capital Bank said that in 2022, capital mobilization activities grew by 7% compared to the previous year, reaching more than VND 59,600 billion due to limitations in credit room and institutional customers somewhat running out of money due to the impact of the macro economy and after the SCB event in October, the industry-wide mobilization interest rate increased by 1.71% compared to the previous year.

This year, Viet Capital Bank's Board of Directors plans to issue nearly 53 million additional shares to increase equity capital from owners' equity, equivalent to a maximum bonus share ratio of 10% of charter capital. The proceeds will be used to supplement lending capital and capital trading, investment , and other activities.

The bank's board of directors also plans to submit to shareholders a plan to issue an additional 15 million shares under the bank's employee stock option program (ESOP) to supplement lending capital. The implementation time for this content will be this year or the first or second quarter of 2024.

If the two above share issuance plans are all successful, Viet Capital Bank's charter capital can increase by 679 billion VND, to a maximum of 5,968 billion VND.

A notable content submitted by Viet Capital Bank to shareholders for approval is the plan to transfer BVB shares from UPCoM of Hanoi Stock Exchange (HNX) to listing on HoSE.

Finance - Banking - Viet Capital Bank wants to list on HoSE, change name to BVBank — BVB stock price movement (Source: TradingView).

BVB shares have been registered for trading on UPCoM since July 2020. After more than 2 years of trading, moving the trading floor to list shares on HoSE will create more favorable conditions for shareholders to trade shares.

Viet Capital Bank will also seek shareholders' opinions on changing its English abbreviation. For convenience in communication and transactions, in line with the BVB stock trading code, the bank will change its abbreviation from Viet Capital Bank to BVBank .

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