Hanoi Stock Exchange (HNX) has made an announcement on the first trading day for shares of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank) on the Unlisted Market Company Market (UPCoM).
Accordingly, the stock code of Vietbank shares is VBB. The first trading day is Tuesday, July 30th 2019. The reference price on the first trading day is 15,000 dong per share. With a total 419 million shares registered for trading, Vietbank is valued at 6.285 trillion dong.
The price fluctuating range of VBB on the first trading day on the UPCoM is 40 percent. Thus, in the most optimistic scenario, VBB may rise to 21,000 dong per share after only one trading day, the corresponding capitalisation value may increase to 8.799 trillion dong.
According to Vietbank’s consolidated financial statement in the second quarter (Q2) of 2019, in the first half of the year, the bank attained a pre-tax profit of 249 billion dong, up by 24 percent compared to the same period of 2018.
Credit continues to be the bank’s core business when it brought 590 billion dong of net interest income to Vietbank, up by nine percent. Meanwhile, the trading of investment securities recorded up to 51.1 billion dong of net profit, although it was only one third of the realised number in the same period of last year.
Other businesses such as services and foreign exchange achieved respectively 12.6 billion dong and 7.9 billion dong of net profit.
Closing the first half of the year, Vietbank recorded 271 billion dong of net profit, down by 20 percent compared to the same period of 2018. However, due to the significant reduction of provisions for risks to 7.9 percent of net profit (from 40.7 percent in the first half of last year), Vietbank’s pre-tax profit still rose by 24 percent to 249 billion dong.
By the end of June 30th 2019, the total assets of Vietbank were 56.603 trillion dong, slightly up by 9.5 percent compared to the beginning of the year. The bank’s outstanding credit was 37.569 trillion dong, up by 5.8 percent. Its on-balance sheet bad debt ratio was 1.14 percent.
Regarding capital sources, Vietbank’s equity by the end of June 30th 2019 was 4.727 trillion dong, up by nearly five percent compared to the beginning of the year. Customers’ deposits reached 42.771 trillion dong, up by 7.3 percent.
