HDBank to hike capital to 3tr dong in 2009

VNStockNews.com - HCM City Housing Development Commercial Joint Stock Bank or HDBank held the annual shareholders' meeting on March 31 to report the 2008 performance and approve the 2009 business results.

Last year the bank posted total asset of 9.558 trillion dong, total outstanding loans of 6.175 trillion dong, total deposit of 7.772 trillion dong, 80 billion dong in pre-tax profit. The current chartered capital of HDBank reached 1.550 trillion dong.

Its bad debt ratio was 1.93% of total outstanding loans and the bank could still ensure a dividend of 6% for the shareholders in 2008.

Entering 2009, the bank continues carrying out the strategy of becoming a multi-functional bank with total asset of 13.5 trillion dong, up 41% year-on-year, total estimated deposit of 11 trillion dong, growing 42% against 2008, and profit of 172 billion dong.

In addition, the bank plans to invest in four member companies: Security Co, Asset Management Co, Fund Management Co, and a Securities Co.

This year the bank plans to raise the chartered capital to three trillion dong (2010 at latest) by issuing one million convertible bonds with a term of two-years and the face value of one million dong. Another 140 million shares will be offered to existing shareholders and domestic and foreign strategic partners.