The State Bank of Vietnam (SBV) is the largest shareholder in Vietcombank, with 77.11% stake amounting to VND2,200 billion (roughly US$98.58 million) dividends paid in cash for 2016 year.
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has announced that it will pay 2016's dividends in cash at the rate of 8% to shareholders on October 16th.
The total dividend payment is estimated at nearly VND3,000 billion (roughly US$132.59 million). Of which, the SBV, the largest shareholder of Vietcombank, with 77.11% of shares, will receive nearly VND2,220 billion (roughly US$98.58 million).
Prior to that, the plan to pay dividends in 2016 was approved by the general shareholders' meeting of Vietcombank.
Vietcombank is the largest listed bank with a market capitalization of about US$6 billion. The total assets of Vietcombank reach nearly US$38.5 billion, ranking third among listed banks after BIDV and Vietinbank.
In the first half of this year, Vietcombank's pre-tax profit grew by 23% yoy to VND5,255 billion (US$232.38 million). The bank aims to reach VND9,200 billion (~US$407.88) pre-tax profit in 2017.
The total assets of the bank was VND849 trillion (US$37.93 billion) till June 30, up 8% from the beginning of the year. Lending grew by 14% during the same period, much higher than the 9.1% growth of the whole banking sector.
Japanese bank - Mizuho Bank - currently holds a 15% stake in Vietcombank. Last year, the bank plans to sell its stake to GIC, a Singaporean government's investment company. But the deal has not been approved so far.
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