TIẾNG VIỆT Vietcombank plans to issue unsecured bonds worth $252 million
Photo: thebank.vn
Interest for the nonconvertible bonds will be paid periodically every year, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (HoSE: VCB) said in a statement to announce it first bond issuance in 2020.
Money from the issuance will be used to add to the working capital and meet the demand for loans in medium and long-term projects, the Vietnamese lender said, adding the capital raised from bond issuance will help Vietcombank improve its financial capacity and ensure compliance with the safety criteria prescribed by the State Bank of Vietnam.
Vietcombank reported 2019’s pretax profit VND22,717 billion ($958 million), an increase of 26.5% compared to 2018, completing 114% of the whole-year plan.
As of December 31, 2019, bank's total assets reached more than $52 billion, up 14%. Customer loans increased by 16.3% while deposit balance increased by 15.8% compared to the end of last year.
Source: VCB
