Maritime Bank sets a profit target of VND 6,800 billion in 2022, will divest FCCOM

Vietnam Maritime Commercial Joint Stock Bank (MSB) has just announced the documents of the 2022 Annual General Meeting of Shareholders. Accordingly, MSB’s pre-tax profit this year is expected to reach VND 6,800 billion, up 34% year-on-year. 2021.

Total assets are expected to increase 14% compared to 2021, reaching VND 233,000 billion. Capital mobilization from market 1 and mobilized bonds reached VND 123,808 billion, an increase of 15% compared to the previous year. Credit balance increased by 25% to 130,752 billion dong. Bad debt ratio is controlled below 3%.

Notably, the bank plans to issue nearly 458.3 million shares to pay dividends in 2021, with an expected division ratio of 30%. If the issuance is successful, the bank’s charter capital will increase by VND 4,582.5 billion to VND 19,857.5 billion.

Sources used to issue dividend-paying shares are undistributed profits and share capital surplus that can be used to pay dividends and increase capital after fully appropriating funds according to the audited financial statements at as of December 31, 2021.

In addition, the bank will present to shareholders a plan to issue up to 14.25 million bonus shares under the employee selection program in 2022 (ESOP), which is expected to be implemented after the issuance of shares to pay dividends. ie 30% rate. Charter capital will increase by 142.5 billion VND after completing the issuance of ESOP.

Also at the next meeting, MSB will present to shareholders about the divestment of Finance Community One Member Limited Company (FCCOM) with charter capital of VND 500 billion and 100% ownership of MSB.

By the end of 2021, FCCOM’s total outstanding loans were VND 358 billion, revenue reached VND 151 billion in the year. Profit before tax is 1.97 billion VND, profit after tax is 0.98 billion VND.

MSB is expected to find a strategic partner to transfer a part of its capital at FCCOM for long-term cooperation with a strategic partner or transfer 100% of its contributed capital at FCCOM so that the bank can focus all its resources on the field. Main business.


By Business and Marketing

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