BIDV mobilises more than 400b dong of bonds

25-Sep-2020 Intellasia | NDH | 6:02 AM Print This Post

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) announced the successful private placement of 418 billion dong of medium and long term bonds on September 17. In which, the bank offered to sell 250 billion dong of 7-year bonds, 162 billion dong of 8-year bonds and 6 billion dong of 10-year bonds.

Bonds are non-convertible, not accompanied by warrants, unsecured or guaranteed, issued and paid in VND, establishing direct debt repayment obligations, are secondary debts of BIDV and are satisfied the conditions to be included in the tier two capital of BIDV in accordance with current regulations.

At the end of August, the bank also successfully offered to privately offer 730 billion dong of medium and long-term bonds. At the same time, the bank also bought back 500 billion dong of 7-year bonds, issued from the end of 2018.

By the end of June, the bank’s total assets were at 1.45 quadrillion dong, down three percent. Loans to customers were at 1.14 quadrillion, an increase of two percent compared to the beginning of the year. Bad debt is 22.767 trillion dong, 15 percent higher than the beginning of the year, in which possible bad debt increases nearly 2 trillion dong. Non-Performing Loan (NPL) ratio increased from 1.74 percent to nearly two percent.

Customer deposits are 1.13 quadrillion, up one percent compared to the beginning of the year. Valuable papers issued increased 36 percent to 85.495 trillion dong, of which 48.832 trillion dong was in bonds to increase capital and more than 32.142 trillion dong certificates of deposit were issued.


Category: Finance, Vietnam

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