The Board of Directors of Asia Commercial Joint Stock Bank (HoSE: ACB) has just issued a Resolution on the early repurchase of the 4th privately issued bonds in 2021.
Accordingly, ACB will buy back 4 bond lots, including ACBH2124005, ACBH2124006, ACBH2124011 and ACBH2124012 with a maximum total face value of VND10,000 billion.
These are 4 non-convertible bonds, without warrants, without assets and are not secondary debts of ACB.
The buyback dates for these 4 bonds are June 22, June 23, July 8 and July 15, respectively. The purchase price is equal to the par value of the issue.
The capital for the repurchase comes from revenue from medium and long-term VND loans or other maturing loan/investment sources or other legal capital sources maturing at the time of bond repurchase.
These are 4 non-convertible bonds, without warrants, without assets and are not secondary debts of ACB.
Regarding business situation, in the first quarter of 2023, ACB's pre-tax profit reached VND 5,156 billion, an increase of 25.3% over the same period last year.
During the period, most business segments recorded growth except for profits from operations and trading of investment securities (loss of VND 1 billion).
Net interest income recorded a growth of 14.2% to VND6,215 billion; net profit from foreign exchange trading grew by 44% to VND438 billion; the securities trading segment brought in VND43 billion while in the same period last year it lost more than VND11 billion.
As of March 31, 2023, the bank's total assets increased by 0.6% to VND 611,224 billion. Of which, customer loans decreased slightly by 0.6% to VND 411,289 billion.
In terms of asset quality, the bank's bad debt balance increased by 31.5% to VND4,003 billion, increasing the bad debt ratio from 0.74% at the end of 2022 to 0.97% at the end of the first quarter.
ACB is a bank that has attracted a lot of attention recently, after the dance performance 'Lonely on the sofa' by Chairman Tran Hung Huy at the Gala night celebrating its 30th anniversary .
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