Tien Phong Commercial Joint Stock Bank (TPBank TPB) has announced its success in buying 24 million treasury shares, completing 100 percent of the volume of shares registered previously. The transactions were carried out from June 11th to 18th by order matching or put through.
The average price is 26,117 dong per share. Accordingly, it is estimated that TPBank spent nearly 627 billion dong to buy 24 million shares, thereby holding a total of 30 million treasury shares, equivalent to 3.5 percent of the charter capital.
The capital source used for this treasury share purchase is the undistributed after-tax profit according to the bank’s audited financial statement as of December 31st 2018.
In Q1 2019, TPBank’s pre-tax profit reached 853 billion dong, up by 66 percent compared to the same period of 2018. The total assets of the bank were nearly 140 trillion dong, up by nearly three percent compared to the end of 2018. The bank’s equity reached 11.3 trillion dong. In 2019, TPBank targets a pre-tax profit of 3.2 trillion dong, up by 41 percent over 2018.
