OCB eyes spot among 5 best private bank in Viet Nam

Tuesday, Jan 26, 2021 11:11

OCB’s pre-listing road show in HCM City late last week. — VNS Photo

Orient Commercial Join Stock Bank wants to become one of the top five private banks in Viet Nam, its chairman, Trinh Van Tuan, has said.

Speaking at the bank’s re-listing road show in HCM City last week, he told prospective investors the bank is set to increase its profits, assets and charter capital by 20- 25 per cent annually.

“Priority customer segments, sustainable growth, improving asset quality through an international standard risk management system, and optimising technology and digital banking platforms to drive growth and efficiency are our main focuses.”

OCB said it plans to list over 1 billion shares on the HCM City Stock Exchange on the 28th of this month at a minimum price of VND22,900, taking its market capitalisation to nearly 26 trillion (US$1.1 billion) and ranking it in the top 30 on the exchange.

It restructured in 2011-15 with a focus on strengthening operations and risk management.

From being a mid-level bank, it climbed to the top of the private bank group in terms of growth, safety and efficiency.

It has steadily maintained high profit growth, increasing it from less than VND500 billion ($21.6 million) as of 2015 to VND4.4 trillion ($190 million) by 2020.

Its assets grew from VND49.4 trillion ($ to VND152.7 trillion in the period.

In 2017 it became the first bank to achieve Basel II norms in Viet Nam.

One of the main focuses of OCB is digital transformation. — VNS

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