OCB plans listing on HCM City Stock Exchange

VNStockNews.com - Extraordinary shareholder meeting of Orient Commercial Bank
(OCB) last Saturday passed a plan for using money [that should be for advancing 10 percent dividend of 2009] to buy additionally issued shares within this year. The deadline to close the shareholder list will be announced later.

Also, the bank will issue extra 20 percent of its chartered capital to existing shareholders at face value.

OCB plans to spend about $3.350 million on purchasing card issue and payment system. Tran Van Vinh, the general director expected that the profit from the card system will contribute 5-8 percent to OCB's total profit.

Furthermore, the bank plans listing on Hochiminh Stock Exchange in 2010.

Till late November 2009, the bank posted average deposits of 8.169 trillion dong a month, average outstanding loans of 8.526 trillion dong/month and bad debt ratio of 3 percent, total profit of 1.236 trillion dong, pre-tax profit of 261 billion dong in first 11 months. The 2009 profit is estimated at 270 billion dong.