Saigonbank unsuccessfully sells 8.26 million BVB shares

25-Sep-2021 Intellasia | NDH | 7:05 AM Print This Post

The HCM City Stock Exchange (HoSE) has announced the cancellation of the public offering of the shares in Viet Capital Commercial Joint Stock Bank (UPCoM: BVB) owned by Saigon Commercial Joint Stock Bank for Industry and Trade (UPCoM: SGB) as no investor registered to join the auction until September 17th.

This is Saigonbank’s second unsuccessful sale of BVB shares. Previously, the auction on July 14th was also cancelled for the same reason. The asking price at the two auctions were 22,800 dong per share with 8.26 million shares offered for sale, equivalent to 2.25 percent of VietCapitalBank’s charter capital.

Closing the session on September 21st, BVB share price dropped by 2.35 percent to 20,800 dong per share, 20 percent less than the peak in early Jun/2021.

In the first half of 2021, VietCapitalBank recorded a pre-tax profit of 330 billion dong, 5.5 times higher than the same period of last year, 16 percent exceeding the year plan. By the end of June, the bank’s total assets grew by nine percent compared to the beginning of the year, reaching 66.601 trillion dong. The lending to customers increased by 11 percent to 44.377 trillion dong, while customer deposits declined by four percent to 39.901 trillion dong. The total bad debts of VietCapitalBank rose by 12 percent to nearly 1.247 trillion dong, increasing the bad debt ratio from 2.79 percent to 2.81%. In which, the sub-prime debts declined by 17 percent while the doubtful debts increased by 20%.


Category: Finance, Vietnam

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