Vietnam Proposes Major Capital Injection for Vietcombank
The Vietnamese government plans to inject over twenty trillion dong into Vietcombank to improve its efficiency and competitiveness. Deputy Prime Minister Ho Duc Phoc emphasized using retained profits from 2021 and share dividends from 2018 for funding. This capital injection aims to bolster Vietcombank's infrastructure, digital transformation, and economic growth initiatives.
During a session in Hanoi, the National Assembly considered a proposal to inject twenty trillion six hundred ninety-five billion dong, approximately eight hundred fifteen million U.S. dollars, into Vietcombank.
This initiative aims to enhance the bank's operational efficiency and competitiveness.
Deputy Prime Minister and Minister of Finance Ho Duc Phoc suggested utilizing the bank's retained profits from 2021 and share dividends from 2018 to fund this capital boost.
The proposal, if approved, will raise Vietcombank's charter capital to eighty-three trillion five hundred fifty-seven billion dong.
This effort seeks to support the bank's business operations, infrastructure investments, and digital transformation, ultimately fostering economic growth.
This initiative aims to enhance the bank's operational efficiency and competitiveness.
Deputy Prime Minister and Minister of Finance Ho Duc Phoc suggested utilizing the bank's retained profits from 2021 and share dividends from 2018 to fund this capital boost.
The proposal, if approved, will raise Vietcombank's charter capital to eighty-three trillion five hundred fifty-seven billion dong.
This effort seeks to support the bank's business operations, infrastructure investments, and digital transformation, ultimately fostering economic growth.
