Sacombank unexpectedly presents dividend distribution plan and acquisition of securities company to shareholders

The Board of Directors of Sacombank presented to shareholders a plan to increase its charter capital through issuing shares for dividend distribution and bonuses for employees. This capital will come from the bank’s retained profits. The specific dividend rate has yet to be determined, pending approval from the State Bank, as Sacombank has not distributed dividends for over 10 years. Additionally, Sacombank aims to acquire a securities company with a projected ownership of over 50% and an investment value of about 1,500 billion VND. The bank targets a pre-tax profit of 14,560 billion VND by 2025, along with plans for significant growth in assets, deposits, and credit loans. In 2024, Sacombank achieved a pre-tax profit of 12,720 billion VND, surpassing its target by 120%, and actively worked on handling bad debts, recovering nearly 10,000 billion VND in the past year.