ACB to Pay Dividend at 40.9 per cent This Year

The Asia Commercial Bank (ACB), the largest joint stock commercial bank, is expected to pay dividend at 40.9 per cent in 2007 and take several steps to speed its business growth rate, Vietnam Economic Times reported Thursday.

 

At first, the bank will increase its chartered capital investment to VND2.536 trillion (US$158.5 million), fixing its outstanding debts of VND24 trillion and aiming for pre-tax of VND1.2 trillion (US$75.3 million).

 

ACB’s staff will also be expanded to 1,200.

 

Besides, the bank will open another 33 transaction centers and branches.

 

Currently, ACB through its affiliates is expanding and penetrating many services including fund management, finance leasing, real estate, and gold and gemstone business, while conducting a campaign to attract quality staff by raising 60 per cent of salaries, as high as in foreign-invested banks.

 

Other rights and benefits are pledged by the bank. (Vietnam Economic Times)