Vietcombank to be inspected in two months The Government Inspectorate plans to inspect operations of the Bank for Foreign Trade of Vietnam (Vietcombank) in 60 days.   Specifically, the Government Inspectorate will conduct an inspection of the observance of the law at Vietcombank, including credit operations, financial investment, and procurement in the 2014- 2015 period. The inspection team is led by Mr. Nguyen Quang Thia, Head of Department II. The monitoring team is headed by Mr. Nguyen Manh Ha, Deputy Head of the Department of Monitoring, Evaluation and Post-Inspection. Vietcombank General Director Pham Quang Dung said that this would be a normal inspection, which is included in the 2016 inspection plan approved by the Prime Minister. He said a similar inspection at Vietcombank took place nearly 20 years ago (1996). Vietcombank officially operated as a joint stock bank in 2008. On April 15, the bank will hold an annual shareholders' meeting. The bank plans to increase charter capital to VND39,575 billion, from the current figure of VND26,650 billion. Vietcombank will issue stocks as dividends at the rate of 35% for existing shareholders, equivalent to VND9,327 billion from the surplus and accumulate profits by the end of 2015. In addition, the Bank will issue stocks for foreign investors up to 10% of charter capital. The price, according to the plan to be submitted to the upcoming shareholders' meeting, shall be negotiated by the parties, with valuations of financial consultants. Vietcombank will offer shares to 10 investors, which may include present foreign investors. In 2015, Vietcombank’s total assets reached nearly VND674,400 billion. Profits before taxes were VND6,827 billion. The NPL ratio was 1.84%. In 2016, the bank expects to raise its total assets to VND765,438 billion, up 13.5% compared to 2015. Before tax profit is estimated at VND7,500 billion, up 10% compared to that of 2015. The debt ratio is targeted to be less than 2.5%. US$1 = VND22,300 S. Tung, VNN