KienlongBank to hold extraordinary 2025 AGM in July, proposes 60% dividend

KienlongBank plans to hold its extraordinary general meeting in July 2025 online. The bank will present significant reports including the adjustment of the profit distribution plan for 2024 and propose to increase its charter capital by issuing shares to pay dividends at a rate of 60%. In 2024, KienlongBank recorded a pre-tax profit of over 1,112 billion VND, exceeding the plan by 139%. In Q1 2025, the profit reached 356 billion VND, increasing by 66% year on year. The bank plans to streamline its workforce to enhance efficiency and support employee benefits. KLB shares have increased over 50% since the beginning of the year, reflecting investor optimism, and if the dividend plan is approved, the charter capital will rise from 3,652 billion VND to 5,822 billion VND, providing more resources for expansion and risk control.