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VPBank prepares to list shares

VietnamProsperity Joint-Stock Commercial Bank, or VPBank, is preparing tolist shares on the stock market to comply with regulatory rules, Viet Nam News reported March 30.

VPBank Chairman Ngo Chi Dung said the bank is just awaitingguidance from the State Securities Commission of Vietnam. The State Bank ofVietnam had earlier asked all domestic banks to list shares on regularexchanges or the unlisted public company market before the end of 2016.

Further, the bank plans to pay stock dividends in 2016 toraise its charter capital to 11 trillion dong from 9.2 trillion dong. It alsoexpects pretax profit to reach 3.2 trillion dong in 2016.

As of March 29, US$1was equivalent to 22,309 Vietnamese dong.