Hanoi – Date 17/6/2017 - Techcombank submitted to the General Shareholders the proposal to repurchase shares from existing shareholders. The acquired shares will be kept as treasury shares.

It demonstrates Techcombank’s appreciation of valued shareholders, who prefer to get their returns after 6 years of investment since the Bank decided not to pay dividends and use retained earnings for long-term development.

According to the plan of repurchasing shares as treasury shares via public tender offer, Techcombank proposes the GSM to approve also an arrangement with HSBC in which HSCB will contemplate the potential divestment of its interest in Techcombank through the repurchase proposal.  HSBC has no involvement in Techcombank’s business operations since 2012.

These proposals are put forward when Techcombank has strong capacity to pay due attention to shareholders’ benefits and avoid the negative impact on Techcombank’s prudent ratios and profitability.

These proposals are being considered by Techcombank GSM and state agencies. At the same time, Techcombank intends to postpone the plan on charter capital increase as per its development roadmap to be in line with the law when implementing its plan to repurchase shares from existing shareholders.  The plan on charter capital increase will be considered in proper time in 2017 by BOD.