Chairman of Bamboo Capital joined Eximbank’s Board of Directors

Answering who is the major shareholder of Eximbank, Ms. Do Ha Phuong – Chairman of the Board of Directors of Eximbank said that the bank does not have major shareholders (over 5% of charter capital). The bank is also looking for large investors and foreign investors to increase financial capacity.

Regarding the credit card case with an outstanding debt of 8.5 million VND but Eximbank charged interest of more than 8.8 billion VND, Mr. Nguyen Hoang Hai – Acting General Director of Eximbank said that this is a big lesson for Eximbank in operations. , experience in dealing with customers. In the newly updated policy, if the account is inactive, Eximbank will not charge a fee. However, if banking resources are opened but not used, there will be a way to handle it.

At this general meeting, shareholders approved the dismissal of Ms. Le Thi Mai Loan as a member of the Board of Directors. Previously, Ms. Loan resigned for personal reasons on January 31, 2024. Ms. Loan was elected to the Board of Directors at Eximbank’s extraordinary general meeting of shareholders on February 14, 2023. Mr. Nguyen Ho Nam – Chairman of Bamboo Capital Joint Stock Company, is also concurrently holding the position of Chairman at Bamboo Energy Joint Stock Company, Member of the Board of Directors at Fides Vietnam Fund Management was elected to be a member of the Board of Directors.

In 2023, Eximbank will have 2,146 billion VND in profit after tax. Regarding the stock dividend plan, Eximbank plans to issue an additional 121.86 million shares, at a rate of 7% (owning 100 shares will receive a maximum of 7 new shares). Capital source is from accumulated undistributed profits until 2023 after setting up funds. If the issuance is successful, Eximbank’s charter capital will increase from VND 17,470 billion to a maximum of VND 18,688 billion.

The increased capital will be used by the bank in business activities to invest in facilities, technological infrastructure, build headquarters, expand operational networks, and invest in fixed assets. Expected implementation time is in 2024. Previously, in 2023, Eximbank paid dividends in shares twice at the rate of 20% and 18%. The bank pays its first stock dividend in February 2023 from retained profits of 2017, 2018, 2019, 2020 and 2021.

With the additional capital, in 2024, Eximbank targets pre-tax profit to reach VND 5,180 billion, an increase of 90% compared to 2023 results. It is expected that by the end of 2024, total assets will reach VND 223,500 billion, an increase of 11%. compared to the beginning of the year. Capital mobilization and credit balance reached VND 175,000 billion and VND 161,000 billion, respectively, an increase of 10.5% and 14.6%. The bad debt ratio is controlled at 1.8%.