Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank, LPB) recently announced the finalisation of shareholders list on 28th February 2019 to organise the 2019 Annual general Shareholding Meeting (scheduled to be held on 28th March 2019) in HCM City.
In addition to the familiar contents such as the 2018 operating report and 2019 business plan, profit distribution plan, etc., it is noted that LienVietPostBank will approve the plan to issue shares to increase its chartered capital.
Last year, the general Meeting of Shareholders approved the plan to increase its chartered capital to over 10.3 trillion dong by issuing nearly 287 million LPB shares to existing shareholders and employees. However, the plan was not completed and by the end of 2018 the bank’s chartered capital was only 7.5 trillion dong.
At the same time, the bank plans to move LPB shares from UPCoM to HCM City Stock Exchange (HOSE) for listing this year.
In 2018, the bank’s pre-tax profit reached 1.213 trillion dong, down 31.4 percent compared to 2017 but exceeding the target of 1.2 trillion dong. At the end of 2018, LienVietPostBank’s total assets reached 175.095 trillion dong, up 7.1 percent compared to the beginning of the year. Outstanding loans to customers increased by 18.4 percent to 117.71 trillion dong. Deposit mobilisation of the bank reached 124.948 trillion dong, a slight decrease of 2.6 percent.
