Who is the owner of PGBank?

Prosperity and Development Joint Stock Commercial Bank (PGBank - stock code: PGB) has just announced the list of shareholders holding 1% or more of charter capital according to the Law on Credit Institutions (amended) effective from July 1.

Accordingly, 3 organizations and 13 individuals owned up to 409 million shares, equivalent to 97.4% of the bank's capital.

Three enterprises currently owning approximately 40% of PGBank's charter capital are Cuong Phat International Joint Stock Company (13.541%), Vu Anh Duc Trading Joint Stock Company (13.36%) and Gia Linh Import-Export and Trade Development Company Limited (13.099%).

These three enterprises bought back 120 million PGB shares, equivalent to 40% of PGBank's charter capital, at the auction in April 2023 of the Vietnam National Petroleum Group (Petrolimex).

The revised Law on Credit Institutions, effective from July 1, reduces the ownership limit for institutional shareholders (including shares that such shareholders indirectly own) from 15% to 10%. The three above-mentioned shareholders of PGBank, according to the new regulations, own shares exceeding the ceiling.

Ownership ratio at PGBank is concentrated (Illustration: PGB).

The list of shareholders holding 1% of charter capital includes Mr. Dinh Thanh Nghiep, member of the Board of Directors, holding 4.3 million PGB shares, equivalent to 1.025% of charter capital.

The remaining 12 individual shareholders own 236.55 million PGB shares, equivalent to more than 56% of the bank's capital. These investors hold from 14 million to 21 million shares, equivalent to a ratio of 3.4% to 4.92%. Of which, Ms. Nguyen Thi Thu Ha holds 20.76 million shares (4.944%), Ms. Van Le Hang holds 20 million shares (4.78%), Mr. Trinh Binh Long owns 20.5 million shares (4.884%)...

Regarding operations, at the 2024 Extraordinary General Meeting of Shareholders held in August, PGBank approved the election of two additional independent members of the Board of Directors, Mr. Dao Quoc Tinh and Ms. Cao Thi Thuy Nga.

The General Meeting of Shareholders also unanimously approved the move of the headquarters to Thanh Cong Building, which is currently the headquarters of this Group and many other businesses in the TC Group ecosystem.

PGBank, formerly known as Petrolimex Petroleum Bank, was renamed at the end of last year after Petrolimex divested all its capital in April 2023. PGBank is a small-scale bank, with total assets of only VND59,600 billion.

In March, PGBank increased its charter capital after more than a decade. The bank issued 120 million shares, thereby raising its charter capital from VND3,000 billion to VND4,200 billion.

Regarding business situation, at the end of the first 6 months of the year, PGBank reported pre-tax profit of nearly 268 billion VND, down 7% compared to the same period.

This year, the bank plans to achieve pre-tax profit of VND554 billion, up 58% compared to last year. Thus, after the first two quarters of the year, PGBank has only achieved 48% of the set plan.

According to Thao Thu

Fica

Source: https://dantri.com.vn/kinh-doanh/ai-la-chu-cua-pgbank-20240920094020347.htm