VietinBank earns 3.538tr dong from selling stake to IFC

Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) has recently reported the use of the proceeds from selling stake to International Finance Corp (IFC) on March 10, 2011.
Accordingly, VietinBank successfully offered over 168.5 million shares priced at 21,000 dong each for IFC. After spending on expenditures, VietinBank posted a net earning of over 3.538 trillion dong.

Under which, the bank used over 1.826 trillion dong to strengthen its credit capacity, 238 billion dong to expand its network, 476 billion dong for infrastructure and 998.3 billion dong to expand investments, joint ventures and capital contribution.

Not long ago, on August 18, the State Bank of Vietnam (SBV) in principle approved for the bank’s second chartered capital increase from 16.858 trillion dong to 20.23 trillion dong via issuing more shares priced at par value to the existing shareholders at the ratio of 20%. – Vietbiz24

Tags: Vietinbank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Sep 9 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry