The Military Commercial Joint Stock Bank (MB) has announced the completion of a private placement of 2.5 trillion dong of registered certificates of deposits (CDs) to institutional customers in July 2020. The products have a par value of 10 billion dong, interest rates of 3.4 four percent per annum, and terms from six to 18 months.
Previously, MB had four issuances of CDs in 2020. In June, the bank offered one trillion dong of products with interest rate of 3.5 percent per annum on a term of seven months. In March April, 4.990 trillion dong of CDs were issued with terms ranging from one to 24 months and interest rates from 3.3 to five percent per annum. Meanwhile, in February, 359 billion dong of CDs were offered with interest rate of 4.1 6.75 percent per annum on terms from one to 36 months.
MB has issued a total of nearly 7.850 trillion dong of CDs from the beginning of the year with decreasing interest rates.
By the end of June, the bank’s issuance of valuable papers grew by 27 percent to 33.302 trillion dong. Customer deposits were 257.378 trillion dong, down by six percent.
MB’s total assets by the end of June were 421.635 trillion dong, up by 2.4 percent compared to the beginning of the year. Meanwhile, the bank’s lending to customers increased by four percent to 261.384 trillion dong. The bank’s bad debts rose by 23 percent to 3.576 trillion dong, the bad debt ratio increased from 1.15 percent to 1.36%.
