Nam A Bank divests capital at AMC and still wants to buy finance company

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In 2021, Nam A Bank plans to reduce its stake in AMC from 100% of charter capital to a maximum of 11%, increasing its charter capital to VND8,564 billion through dividend payment in shares, public offering and individual offering.

On April 29, Nam A Bank held the 2021 Annual General Meeting of Shareholders in Da Lat.

Overview of the shareholders meeting of Nam A Bank. (Photo: Nam A Bank).

Nam A Bank AGM has passed important business plans in 2021 with total assets reaching VND 148,000 billion, increased 10.2% compared to 2020, mobilized personal capital, economic organizations and issued papers with a price of VND 122,000 billion, an increase of 16% compared to 2020, the target of combined pre-tax profit reached VND 1,400 billion.

Nam A Bank has determined that digitization continues to be a key strategy in all banking activities. Nam A Bank will continue to make strong strides in digital transformation with the goal of managing, operating on a digital platform, creating differentiated products and services for customers.

The meeting also approved the share dividend to increase charter capital with the dividend rate of 14.68%. At the same time, through the increase of charter capital in the next period to 8,564 billion VND through paying stock dividends, offering shares to the public for existing shareholders and a private offering.

Nam A Bank plans to pay stock dividends. (Photo: Nam A Bank).

Previously, in October 2020, Nam A Bank officially traded on UPCoM and the bank said that it had submitted its listing application to the Ho Chi Minh City Stock Exchange (HOSE) and is waiting for approval from competent authority. The decision on which trading floor (HNX / HOSE) as well as time will be decided by the Board of Directors.

At the meeting, the BoD presented to shareholders the approval of the report on reduction of South Asia Bank’s contributed capital at Debt Management and Asset Exploitation Company Limited (AMC) from 100% of charter capital to a maximum of 11% of charter capital, after being approved by the State Bank.

Regarding the purchase of shares in other finance companies, the bank’s management said that due to the negative impact of the COVID-19 epidemic, the bank could not deploy in 2020. The Board of Directors also submitted to the General Meeting of Shareholders for approval of the policy of establishing, acquiring subsidiaries, affiliated companies, contributing capital, buying shares of enterprises.

Source: – Translated by