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Techcombank’s Annual Shareholders Meeting 2013: Continue investment in human development and technology

Hanoi, April 13, 2013 – The Annual Shareholders Meeting 2013 of Vietnam Technological and Commercial Joint Stock Bank (Techcombank) was successfully held on the morning of April 13, 2013 at the Bank’s Head Office at 191 Ba Trieu Street, Hanoi.
 
At the Annual Shareholders Meeting, high consensus was achieved on retaining all profits of 2012 for the bank’s consolidation and development, increasing the bank’s equity capital to VND 13,290 billion. This is the 4th consecutive year that Techcombank receives strong support and investment commitments from shareholders for its sustainable and long-term development. 
 
According to the profits distribution plan of 2012 approved by the Annual Shareholders Meeting, the charter capital of Techcombank in 2013 will increase to VND 8,878 billion by issuing an additional of 3 million shares or VND 30 billion as rewards for high performers, and as a talent acquisition tool. This is an important policy of the bank to retain and develop the highly qualified, experienced, and visionary workforce. The remaining profits will be for increasing reserves fund for charter capital increase.
 
The Annual Shareholders Meeting also approved the investment plan for 2013, under which nearly VND 222 billion will be invested on information technology systems. With this continued focus on large scale IT investment, Techcombank is well positioned to deliver to its customers with diverse products and applications through alternative channels besides traditional ones, with the aim of bringing optimal convenience for customers.
 
Regarding 2013 budgets, given various challenges facing the economy, for actively sharing with enterprises’ difficulties, the Annual Shareholders Meeting also reached high consensus on the budgets proposed by the Board of Directors and the Board of Management. Accordingly, profit before tax  is planned to increase by 52% in comparison with that of 2012, an equivalent of VND 1,543 billion, 8% increase in total assets or VND 194,986 billion, 12% increase in deposits or VND 124,344 billion, and 12%  credit growth, or VND 105,575 billion.
 
Speaking shortly after the meeting, Mr. Ho Hung Anh - Chairman of Board of Directors said: “The Annual Shareholders Meeting achieves great successes with support and high consensus among the shareholders on the investment strategy for long-term development and business plan in 2013 of the Bank. This reflects the shareholders’ confidence in the development potential of Techcombank.
 
 
The Board of Directors and the Bank’s Leadership will make further endeavours for Techcombank’s continuously sustainable development in the best interests of the shareholders in the future.”