On June 1st, Orient Commercial Joint Stock Bank (OCB) finished issuing one trillion dong of non-convertible and unsecured bonds with no warrants. These bonds were issued based on bookkeeping method. The actual interest rate of the bond is fixed at 6.7 percent per annum with periodical interest rates paid every12 months.
Previously, the bank also completed the issuance of 200 billion dong of bonds with interest rate of 6.3 percent per annum and interest rate paid every 12 months.
In its 2019 annual statement, OCB set to achieve total assets of over 150 trillion dong, up by 27 percent compared to the end of last year. In particular, the mobilisation growth was 21 percent and growth of outstanding loans increased by 25 percent based on the approval of the State Bank of Vietnam (SBV).
The bank targets a pre-tax profit of 4.4 trillion dong, up by 36 percent over the previous year. The bank expects to pay dividends in 2020 at 25-27%.
In 2020, OCB aims to complete its charter capital increase by conducting private placement for foreign partners.
