2024.03.21 12:44:59
IFC investor group no longer VietinBank’s major shareholder
HÀ NỘI — The International Finance Corporation (IFC) investor group is now no longer a major shareholder of Vietnam Joint Stock Co妹妹ercial Bank for Industry and Trade (VietinBank), after selling more than 五 五. 七 million shares of the bank.
According to a filing on Ho Chi Minh Stock Exchange, IFC last week sold more than 一 八. 九 million shares while IFC Capitalization Equity Fund offloaded 三 六. 八 million shares in VietinBank, reducing their ownership from 六. 四 八 六 per cent to 四. 九 九 per cent. IFC now owns 六0. 九 million VietinBank shares, or 一. 六 三 per cent stake, while IFC Capitalization Equity Fund holds 一 二 四. 九 million shares, or 三. 三 五 per cent stake.
In November last year, the IFC investor group also sold nearly 五 七. 四 million shares of VietinBank, reducing their ownership from 八.0 二 七 per cent to 六. 四 八 六 per cent.
In 二0 一 一, IFC and IFC Capitalization Equity Fund invested nearly US$ 一 八 二 million in equity and $ 一 二 五 million in subordinated debt in VietinBank.
Currently, the State Bank of Việt Nam is the biggest shareholder in VietinBank with a 六 四. 四 六 per cent stake. Japan’s MUFG Bank is next with 一 九. 七 三 per cent ownership. The rest are held by other shareholders.
VietinBank, Việt Nam's third largest bank by assets, reported an 八 三 per cent increase in pre-tax profits to almost VNĐ 一 一. 五 trillion ($ 四 九 五 million) in 二0 一 九. The bank’s assets rose 六. 五 per cent to VNĐ 一. 二 四 quadrillion ($ 五 三. 二 九 billion). Its bad debt ratio was under 一. 二 per cent, down from 一. 五 九 per cent in 二0 一 八.
The bank targets 六- 八 per cent growth in assets this year, 八- 一0 per cent credit growth and an increase in pre-tax profits of 一0 per cent. It seeks to keep bad debts under 二 per cent.
VietinBank shares (CTG) closed at VNĐ 二 三, 六00 a piece on Tuesday morning session, up 一. 七 per cent from Monday.
The IFC Capitalization Equity Fund is a global equity and subordinated debt fund founded by IFC and the Japan Bank for International Cooperation (JBIC). — VNS
