Techcombank to launch securities arm

Wednesday, May 7, 2008
Technical and Commercial Joint Stock Bank (Techcombank)'s shareholders' meeting recently passed the plan to pay 2007 dividend of 25.25%. Up to the end of last year, the bank's chartered capital reached 2.521 trillion dong.

Although the capital market is facing many difficulties, the bank plans to set up some subsidiaries including securities company, fund management company under the 100% Techcombank-invested one-member limited company model in the forthcoming time.

The shareholders' meeting also passed the business plan this year with 70.469 trillion dong in total asset and 1.26 trillion dong from pre tax profit and dividend paying plan of 19%.