On the afternoon of September 24, the National Assembly Standing Committee gave its opinion on the policy of state capital investment at the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
Presenting the report, Governor of the State Bank Nguyen Thi Hong stated that the Government proposed that the National Assembly Standing Committee consider and submit to the National Assembly for decision the policy of additional state capital investment at Vietcombank and include it in the general resolution of the 8th session.
Accordingly, the policy of investing additional state capital to maintain the state capital contribution ratio at Vietcombank with an amount of more than VND 20,695 billion was approved.
Additional investment capital from stock dividends distributed to state shareholders from accumulated remaining profits up to the end of 2018 and remaining profits in 2021 of Vietcombank.
The order and procedures for deciding on additional state capital investment at Vietcombank from the remaining accumulated profits up to 2018 and the remaining profits in 2021 are implemented according to regulations.
State Bank Governor Nguyen Thi Hong stated that additional state capital investment at Vietcombank is very urgent.
Because the additional investment of state capital in Vietcombank helps Vietcombank improve its financial capacity to strive to reach the region and be in the top 100 largest banks in Asia; affirming its leading role in the banking and finance industry according to the orientation of the Party and Government.
The additional state capital investment at Vietcombank is to meet the minimum capital safety ratios as prescribed.
This also helps Vietcombank have the potential to implement State policies and support the economy such as credit policies serving agricultural and rural development; interest rate support policies and obligations to the State budget.
The Governor of the State Bank added that this is a necessary condition for Vietcombank to have enough resources to support the restructuring of weak credit institutions assigned by the Government and the State Bank, ensuring system safety, contributing to the healthy and stable development of the banking sector and the economy.
The additional charter capital for Vietcombank is expected to be used to invest in facilities, headquarters, information technology, digital transformation, and business expansion.
Examining this content, Chairman of the Economic Committee Vu Hong Thanh said that the Standing Committee agreed with the Government's proposal to include this content in the general resolution of the 8th session of the 15th National Assembly.
The auditing agency proposed that the Government continue to review and propose specific content to be included in the session's general resolution to report to the National Assembly for resolution.
It clearly states that the Government is responsible to the National Assembly for the accuracy of data and scale of additional state capital investment at Vietcombank.
At the meeting, Politburo member and National Assembly Chairman Tran Thanh Man expressed his agreement with the Government's proposal on supplementing state capital at Vietcombank and agreed to include this content in the General Resolution of the 8th session.
However, National Assembly Chairman Tran Thanh Man suggested that when submitting to the National Assembly, it is necessary to carefully and thoroughly assess the impact on the effectiveness of additional state capital investment at Vietcombank.
Mr. Tran Thanh Man requested the Government to urgently complete the dossier and report to the National Assembly based on the opinions of the agencies.
