Company Overview of Vietnam Prosperity Joint Stock Commercial Bank
Vietnam Prosperity Joint Stock Commercial Bank (transaction name: VPBank), previously named the Vietnam Joint Stock Commercial Bank for Private Enterprises, was founded according to the License No. 0042/NH-GP dated August 12th, 1993 issued by the State Bank of Vietnam, and License No. 1535/QD-UB dated September 4th, 1993 issued by the People’s Committee of Hanoi City. The Bank has been formally run since September 10th, 1993. o The main function of VPBank include:
- To mobilize capital in short-term, middle-term and long-term, from operations and population with term and current deposit in Vietnam dong.
- To loan in short-term, middle-term and long-term with operations and residents based on purposes and capabilities of bank capital resource.
- To conduct foreign exchange trading, gold trade and international payment
- To discount in commercial paper, bond and valuable certificates.
- To supply transactions among customers and other bank service in accordance with stipulations of the State Bank of Vietnam.
- To borrow capital of the State Bank and other credit organizations.
- To make contribution, to establish joint venture and to purchase shares in compliance with the law o Charter capital: the original capital is 20 billions VND. After that, because of development demand, VPBank raise charter capital over time. In August 2006, this capital reaches 500 billions VND. In September 2006, VPBank is accepted to sell 10% charter capital for a foreign shareholder, OCBC Bank-the biggest bank in Singapore; as a result, charter capital rise to 750 billions VND. Shortly, charter capital of VPBank attained 1500 billions in July 2007. o VPBank’s network: VPBank has 134 branches over the country. o Subsidiary companies (with 50% or more of shares owned by VPBank):
Figure 4.1 – Subsidiaries of VPBank Source: VPBank’s
- To mobilize capital in short-term, middle-term and long-term, from operations and population with term and current deposit in Vietnam dong.
- To loan in short-term, middle-term and long-term with operations and residents based on purposes and capabilities of bank capital resource.
- To conduct foreign exchange trading, gold trade and international payment
- To discount in commercial paper, bond and valuable certificates.
- To supply transactions among customers and other bank service in accordance with stipulations of the State Bank of Vietnam.
- To borrow capital of the State Bank and other credit organizations.
- To make contribution, to establish joint venture and to purchase shares in compliance with the law o Charter capital: the original capital is 20 billions VND. After that, because of development demand, VPBank raise charter capital over time. In August 2006, this capital reaches 500 billions VND. In September 2006, VPBank is accepted to sell 10% charter capital for a foreign shareholder, OCBC Bank-the biggest bank in Singapore; as a result, charter capital rise to 750 billions VND. Shortly, charter capital of VPBank attained 1500 billions in July 2007. o VPBank’s network: VPBank has 134 branches over the country. o Subsidiary companies (with 50% or more of shares owned by VPBank):
Figure 4.1 – Subsidiaries of VPBank Source: VPBank’s