BIDV lists 608 million additional shares

Wednesday, Nov 18, 2015 14:35

A BIDV transaction office. The bank will list some 608 million more shares on the HCM City Stock Exchange. — Photo

HA NOI (Biz Hub) — The Bank for Investment and Development of Viet Nam (BIDV) has received approval from the HCM City Stock Exchange to list nearly 608 million more shares on the southern bourse.

The bank said in an online report on November 16 that of these shares, 336.92 million shares were for swapping with shares of the Mekong Housing Bank, which merged with the BIDV last May.

About 270.59 million shares have been issued additionally for BIDV's existing shareholders in 2015.

The bank said it was finalising procedures for the shares to be officially traded this month, bringing its total shares in circulation to nearly 3.42 billion.

The report said that BIDV performance had been stable and secure this year, and as of the end of September, the bank has been among the leading joint stock commercial banks in the domestic market in terms of asset, deposits and outstanding loans.

On September 30, the bank's charter capital reached VND34.19 trillion (US$1.52 billion), about VND6 trillion ($266.67 milllion) higher than the equity it posted before the merger.

Its total assets reached more than VND786 trillion ($34.93 billion), an increase of 31 per cent over the same period last year.

Deposits at the bank grew by 21 per cent in the first nine months of the year at VND625 trillion ($27.78 billion), while its lending expanded by 15 per cent during the period, hitting about VND570 trillion ($25.33 billion).

In nine months, its operational incomes totalled VND16.98 trillion ($754.67 million) in nine months, up 18 per cent year-on-year, while its pre-tax profits reached VND5.54 trillion ($246.22 million), a year-on-year rise of 25 per cent.

In Q3/2015, US-based financial services firm Standard&Poor's rated the BIDV with a stable outlook, forecasting that the bank's financial capacity would remain solid in the face of business challenges in Viet Nam within the next 12 months. — VNS

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