Asia Commercial Joint Stock Bank (ACB) ‘s Board of directors had approved the implementation of the plan to transfer all shares listed from the Hanoi Stock Exchange (HNX) to the Hochiminh City Stock Exchange (HoSE). The execution time was from Q3/2020 to the completion of the procedure.
At the same time, the bank also stopped paying dividends in 2019, on the rate of 30 percent in shares with the final registration date of August 21. The performance source came from usable profits. Expectedly, ACB would issue a maximum of nearly 499 million shares in this payment.
By the end of June, ACB had 9.328 trillion dong of undistributed net profit. The total assets were at 396.76 trillion dong, an increase of three percent compared to the beginning of the year. Loans to customers at the bank were 283.755 trillion dong, 5.6 percent higher compared to the beginning of the year. The bank’s bad debt was 1.917 trillion dong, increased by 32 percent YoY. The non-performing loan (NPL) ratio increased from 0.53 percent to 0.67%. The customer deposits were at 330.551 trillion dong, an increase of seven percent compared to the beginning of the year. The valuable paper issuance was worth 23.09 trillion dong, 11 percent higher than the beginning of the year.
In the first six months, the bank’s pre-made net profit was over 4.351 trillion dong, up 17%. The provision expenses grew by 4.5 times to 532 billion dong, bringing pre-tax profit down to 3.819 trillion dong, increased by five percent, equivalent to 50 percent of the year plan. The profit after tax increased by 5.5 percent to 3.058 trillion dong.
