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MSB's annual general meeting (AGM) for 2026 was held in Hanoi on 24 April 2026 with several proposals discussed, including the business plan, profit distribution, share capital increase, a plan to contribute capital to a fund management company, and other matters. The meeting featured a discussion on dividends: 'Paying dividends in stock will be better than cash dividends due to MSB's liquidity.' The construction of a new headquarters is expected to be completed by July, and the bank's main office will move there. Chairman Nguyen Hoang Linh stated that MSB's stock trades have become more active recently and the stock price is near its book value, which bodes well for current and future periods. MSB has historically distributed 20% as a dividend; given the stock's high liquidity, paying dividends in stock would provide greater economic benefits to shareholders. MSB's charter capital is planned to reach 37,440 billion VND, up from 31,200 billion, after issuing up to 624 million new shares, representing 20% of the outstanding shares. The new capital would come from the equity capital increase plan; the issuance would raise charter capital to 37,440 billion. MSB also proposed to invest in (or participate in) a fund management company to become a subsidiary. The meeting also approved the plan to convert TNEX Finance into a comprehensive financial company (a full-service financial company). The company will pursue expanding in securities and asset management to serve priority banking clients, leveraging MSB's 8 million customers. MSB estimates that by mid- to long-term, TNEX could be valued at 1-2 billion USD based on technology investments, customer base, and profitability of consumer finance. In the medium term, MSB does not plan to dispose of TNEX. The group also discussed asset quality, with NPL at about 1.7% by end of Q1 2026, and LDR at 42.9%, with CASA at 26.49%. MSB's 2025-2026: The total assets were 412.9 trillion VND as of Q1 2026, up 31.2% from end-2025; consolidated credit growth 3.81%; customer loans 205 trillion; loan growth around 10 trillion in Q1; interest-bearing borrowings up 18.93% to 193.8 trillion; adequate capital and liquidity; LDR 42.9%; CIR 34%. Profit before tax target: 8,000 billion VND in 2026, up 13% year-on-year. Charter capital target 37,440 billion; The bank plans to issue up to 624 million shares, representing 20% of the share count, to be funded from undistributed profits and reserves. Capital-raising to strengthen MSB's competitiveness by expanding scale, improving safety indicators, supporting mid- and long-term lending, upgrading facilities and IT systems. Concerning adding to the financial group, MSB aims to complete the ecosystem with a securities company, wealth management to serve potential customers; The 8 million customers would benefit. The board also approved moving TNEX Finance to a general financial company to broaden its scope. Finally, the AGM also approved the plan to contribute capital and acquire shares in the fund management company to become its subsidiary, and to convert TNEX Finance to a comprehensive financial company. Board expansion: 1 more member to HĐQT, and 2 more BKS; All motions passed.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
