MB will accept a forced transfer of a bank

According to the document of the annual general meeting of shareholders, Military Bank said, the bank “searched for and researched opportunities to participate in restructuring a credit institution and supported a number of personal credit funds.” people”.

This is done in accordance with the policy of the Government and the State Bank as well as helping MB take advantage of opportunities for rapid scale growth compared to the current rate, consolidating and upgrading its position in the market.

There are four weak banks subject to restructuring, including Dong A Bank (DongABank) and three compulsory buying banks, namely Construction (CB), Ocean (Oceanbank), and Global Petroleum (GPBank). At the beginning of February this year, the Prime Minister also urged to immediately implement the handling and restructuring of two weak commercial banks approved by the competent authorities and continue to develop a plan to deal with and restructure the two weak commercial banks. to the remaining two weak banks.

MB said that it has established a Steering Committee and a Project Implementation Committee to evaluate the feasibility and effectiveness of the credit institution restructuring plan and coordinate with agencies to carry out procedures as prescribed.

Therefore, MB’s Board of Directors will submit to the general meeting of shareholders (taking place on April 25) for consideration and approval of a plan to receive a compulsory transfer of a credit institution. The bank expects to successfully implement this plan, opening up opportunities to accelerate 1.5-2 times the growth rate of assets, credit, and network.

In 2022, MB aims to increase pre-tax profit by 23% to VND 20,300 billion. As for the difficult macroeconomic scenario, the target profit will grow by 15% to 19,000 billion).

At the upcoming meeting, MB will also submit to shareholders a plan to increase charter capital from VND 37,783 billion to VND 46,882 billion, including issuing shares to pay dividends, offering private shares and raising capital already approved. previously approved.

Specifically, MB wants to issue 755.6 million dividend paying shares at the rate of 20%. Ordinary shares issued to existing shareholders are not subject to transfer restrictions.

The Bank also plans to privately offer an additional 65 million ordinary shares to investors with sufficient financial potential, business and technology capabilities, and the ability to cooperate in developing business activities that are in line with their strategy. MB’s strategy.

In addition, the bank will continue to implement the plan to increase charter capital by VND 892 billion approved by the general meeting of shareholders in 2021, including the private placement of 70 million shares for Viettel, the issuance of more than 19 million shares. ESOP shares.

Quynh Trang