Viet Nam International Bank has been given permission to issue 60 million shares to existing stockholders to raise its charter capital to VND3 trillion (US$157 million) from VND2.4 trillion ($126 million).
The individual face value of the shares will be VND10,000.
FPT Securities will act as consultant for the issuance, which will be traded from February 10.
The Ha Noi-based bank last Friday paid a 13.2 percent dividend for 2009.
In October, the bank announced that it planned to raise its charter capital to VND4 trillion (US$210 million) by the end of the year. VIB did not explain why it had changed its plans.
Up until the end of the third quarter, VIB earned VND496 billion ($20.11 million) in pre-tax profit – twice that of the same period last year. It has also exceeded its revenue plan for the whole year.
Total deposits reached VND44 trillion ($2.3 billion), up 38 percent on the same period last year. Total outstanding loans were VND25.5 trillion ($1.3 billion), up 29 percent on the same period last year.
The bank’s bad debt ratio was under 1.5 percent.