MB Bank postpones annual meeting

Friday, Mar 27, 2020 07:39

A MB Bank office. The bank has delayed its annual shareholders' meeting, which was previously planned for April 2020. – Photo vietnambiz.vn

The Military Commercial Joint Stock Bank (MB Bank) has decided to postpone its annual shareholders’ meeting.

The meeting was scheduled for April, but the bank has decided to put it off until the end of June.

The decision was made as the Government and authorities in Ha Noi attempted to prevent the spread of the coronavirus.

As of yesterday, there were 148 cases across the country.

Central and provincial governments have banned all events and meetings and closed stores and restaurants that attract large numbers of people.

MB Bank recorded VND10 trillion (US$429 million) in pre-tax profit in 2019, up 29 per cent year on year and 5 per cent higher than the annual target.

Total outstanding loans rose 15.5 per cent on-year to nearly VND240 trillion, and total assets were up 13 per cent on-year to VND400 trillion.

The bank's shares (HoSE: MBB) lost 3.8 per cent to end Thursday at VND15,050. – VNS

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