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DongA Bank Organizing the 19th annual general meeting of Shareholders in 2010 In the morning of 12.3.2011, at the White Palace Conference Center, DongA bank has held 19th annual general meeting of shareholders with participation of leaders of the State Bank, Board of Director, General Management of DongA bank and hundreds of shareholders in the whole country. The meeting mainly focused on operation report in 2010 and development orientation in 2011.
Overview of
19th Annual general Meeting of stockholders
Meeting to be presided by Leadership of DongA Bank - from left side: Ms. Vu Thi Vang - Standing Vice-chairman, Mr. Pham Van Bu - Chairman and Mr. Tran Phuong Binh - General Director of Dong A Bank The year of 2010 ended with a bit higher economic growth than expected, but, there are also many challenges: inflation, interest rates, differences in exchange rates, trade deficit etc. However, with actual experience, waiting in front of advantages and disadvantages in the general context and with the goal of "Advancing and Sustainability" in 2010, Dona bank has successfully completed the main objectives to be set out at the beginning of this year such as: completing the increase of chartered capital to 4,500 billion dong, growth of total assets of 55,873 billion dong (rising of 31.4% against that of the beginning of year), total of mobilized capital of 47,756 billion dong (rising of 30% compared with that of the beginning of year), total outstanding loans of 38,436 billion dong (rising of 10.8% compared with that of the beginning of year) and profit of 858 billion dong. DongA bank’s trade brand continues to be maintained its strong position in the field of individual customers and banking technology, winning the support of almost 5 million customers for products and superior services such as Phone Banking, the new version of Mobile Banking, ATM gold Machines, DongA Multi-functional Card etc. These are the prominent markers that help DAB affirm its prestige and maintain its activity achievements.
Mr. Tran Phuong Bin
sharing the operation results in 2010 with Shareholders Answering of some comments by shareholders on the results of profits in
2010, Mr. Tran Phuong Binh – General Director of DongA bank, Member
of Board of Directors said that "Pre-tax profit in 2010 reaching
at 858
billion is a very honorable achievement of DongA bank. In
addition, DongA bank also meets important criteria, such as high ROE rate,
with 18.58%, capital
adequacy ratio according to Circular 13 reaching of 10.84%, bad debt of 1.59%,
dividend payment ensuring for shareholders'
interests and especially, with short time payment, compared with
those in other
banks and quarterly payment of dividends . " Entering into
2011, although the situation of the world economy as well as Vietnam
economy expectedly will be much difficult, however, with
sustainable resources and fully-prepared quality
in past few years, DongA bank is confident to set out ambitious
targets but with steady foundation for acceleration phases, starting
from 2011. Details can be that, with the orientation of "Development -
Sustainability," important criteria will be given out, such as total
assets increase of 70,000 billion dong (rising of 27% compared with
that in 2010), profit of 1,300
billion (ising
of 43% compared with that in 2010 ) and dividend
payment for shareholders reaching at least 15% per year, outstanding loans to customers of
46,000 billion (ising
of 20% compared with that in 2010), the total mobilized
capital of 60,000 billion (ising
of 26% compared with that in 2010).
Mr. Pham Van Bu – Chairman of Board of Directors presenting targets and plans in 2011 In order to implement the objectives set up in the year, DongA bank will focuson promoting the activities of capital mobilization and loan lending, raising the efficiency of investment activities, business and other subsidiaries, as well as efficiency of capital use. Besides, the existing products and services will be applied at maximum and developing more new products based on basic application of modern banking technology. DongA bank will also prioritize the control of the lowest operating costs, continuing to complete the executive management, improvement for the quality of the whole system, restructure of the organization, training and re- training and human resource, aiming at meeting the development needs of the system. Regime and policies must be completed for creating of incentives to encourage business units, subsidiaries, the functional blocks of the main headquarters, they are also a focus, this year. For medium and long term goals , DongA bank is oriented to be the best financial group in Vietnam in 2015, in which , DongA bank keeps the core position and the member companies promote the synergy strength, making a solid foundation for the formation of DongA financial Group
Mr. To Duy Lam – Vice Director of State bank, Hochiminh city branch – highly appreciated operation efficiency as well as management ability of DongA bank’s leadership in the context of economic – social fluctuation in 2010 Speaking in the meeting, Mr. To Duy Lam - Vice Director of State Bank- HCM City branch highly appreciated operation efficiency as well as management ability of DongA bank’s leadership in the context of economic – social fluctuation in 2010. In addition, he also analyzes and shares more about the operation direction of the banking system in general, and DongA bank in particular, in current economic situation, as well as wishing shareholders to share, sympathize for pressures, difficulties and challenges faced by leaders of all banks. Shareholders agree to vote for passing contents of meeting The 19Th Annual General Meeting of Shareholders has approved
the charter capital increase from 4,500 billion to 6,000 billion, of
which, existing shareholders are allowed to take of 600 billion and
foreign partners to take of 900 billion. The rate of purchase rights for
existing shareholders is 15:2; i.e. the existing shareholders
holding 01 share will receive 01 right to buy, every 15 purchase
rights will be benefited for 02 additionally issued shares. Time of share
issuance
expectedly is in quarter 4 in 2011, right after DongA
completes all the necessary procedures and to be permitted securities
offering. Regarding the distribution of profits in 2010, the
dividend sharing to shareholders will be approved in the resolution
of the Meeting with 14% per year. Alone those that were approved on
29.12.2010, they will be added 0.5% .
Some pictures taken in the Meeting:
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