VPBank to raise capital to VND5.05T

VPBank approved a resolution to raise its chartered capital by VND1.05 trillion to VND5.05 trillion in 2011 financed from capital surplus and dividend fund.

The lender will spend VND500 billion out of the VND1.05 trillion for raising working capital, extending its networks, promoting sales and D&R activities.

The unlisted lender will also upgrade its IT system, build headquarter office and other equipments, it said.

The AGM also approved 2011 targets of VND80 trillion total assets, 50% growth in total deposits, 20% credit growth and 200 transaction offices.