ANTD.VN - Banks such as Nam A Bank, Vietbank, ABBank, Ban Viet... all have plans to switch to trading on the HOSE floor this year.
Four new faces
After a year of complete silence due to negative developments in the stock market, this year's shareholder meeting season, a series of banks have initiated plans to transfer their shares to the HOSE.
At the General Meeting of Shareholders (AGM) of An Binh Commercial Joint Stock Bank (ABBANK - stock code: ABB), along with the plan to issue shares to pay 10% dividend from 2021 after-tax profit, increasing charter capital to over 10,000 billion VND, the plan to transfer the floor from UPCoM to HOSE was also once again proposed by the bank's leaders and approved by shareholders.
ABBANK's Board of Directors has submitted to shareholders for approval the plan to transfer the trading floor from UPCoM to HOSE when market conditions are favorable. Shareholders have authorized the Board of Directors to decide the implementation time and carry out the necessary procedures for the transfer.
This is the plan set out by ABBANK at the 2022 Annual General Meeting of Shareholders, but it has not been possible to implement it yet due to the negative developments in the stock market over the past year.
This bank believes that if listed on HOSE, it will have more opportunities to raise capital and approach new investors, which is also a motivation to achieve better financial indicators.
Similarly, at the annual general meeting of shareholders of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank - VBB), the plan to list shares on HOSE was also approved by shareholders.
"The shareholders' meeting agreed to continue listing Vietbank's VBB shares on HOSE when the time and market conditions are favorable. Listing VBB shares on the stock market is important, transparent, and enhances operational capacity and competitiveness" - said a representative of Vietbank.
In addition, Vietbank also plans to increase capital by more than VND1,000 billion through issuing shares to existing shareholders at a rate of 21%.
 |
Many banks have to suspend plans to change floors in 2022 |
Another bank that also plans to list on the stock exchange is the Vietnam Joint Stock Commercial Bank (BVB). At the recent shareholders' meeting of this bank, the Vietnam Joint Stock Commercial Bank submitted to shareholders for approval the transfer of BVB shares from UPCoM to listing on the HOSE to create more favorable conditions for shareholders to trade shares. Along with that, the English abbreviation is changed to BVBank to facilitate the naming and communication activities of the bank.
For Nam A Commercial Joint Stock Bank (NAB), the bank's shareholders have also agreed to the plan to register to list NAB shares on the HNX or HOSE (depending on market conditions).
This is also the plan approved by the 2022 General Meeting of Shareholders, but Nam A Bank then proactively postponed it due to the unfavorable macro environment and unpredictable stock market developments.
At the same time, this Bank also plans to expand its network, multinational business market share, establish a bank with 100% capital of Nam A Bank or a bank branch abroad (expected to be in Asia).
Conservative business plan
Along with the plan to list on HOSE, the common point of banks is to set out relatively cautious business plans in this difficult year.
In 2022, ABBANK did not achieve many of the planned targets approved by shareholders, mainly due to insurance premiums not being as expected.
Accordingly, ABBANK aims to collect a large amount of prepaid fees from its insurance partners. However, last year, the bank failed to select an insurance partner to collect the revenue, and even had to pay a fee of 223 billion to FWD, because this partner could not guarantee ABBank's benefits.
From the above factors and the impact of other macro factors, the profit of the entire ABBank system decreased by over 1,000 billion VND, the bank's after-tax profit last year was 1,353 billion VND.
The bank’s shareholders have agreed on a pre-tax profit target of VND2,826 billion this year. Although up 68% compared to 2022, this is considered a modest figure in the context of last year’s low profits.
At Nam A Bank, in the context of the general difficulties of the whole market, the Bank also only set a target of consolidated pre-tax profit of VND 2,600 billion, up 14.6%; total assets of VND 205,000 billion, up 15.4%; capital mobilization increased by 12.8%; outstanding loans increased by 10.4% compared to 2022... This Bank also proposed to pay dividends in shares at a rate of 25%, increase charter capital... to strengthen financial resources, especially medium and long-term capital.
For Vietbank, in 2022, the Bank achieved pre-tax profit of 656 billion VND. The Bank plans to increase pre-tax profit for the whole year of 2023 by 46%, equivalent to 960 billion VND. Although the growth rate is high, this target profit level is also set in the context that last year Vietbank did not complete the annual profit target (only completed 82% of the annual plan).
As for Ban Viet, the Bank said that in 2023, the economy is forecast to face many difficulties, and the banking industry in general and Ban Viet in particular will face many challenges. Therefore, in terms of general orientation, Ban Viet Bank sees the need to be especially cautious in the first 6 months of the year, closely following market developments to have flexible response policies.
Therefore, the bank's business plan is also cautious, with total assets expected to reach VND86,600 billion, up 10%, capital mobilization reaching over VND69,000 billion, up 16%; outstanding credit balance reaching nearly VND60,000 billion, up 12% (credit growth rate depends on the approval of the State Bank).
The bank also set a pre-tax profit target of VND502 billion, up only 10% compared to last year.
Source
Comment (0)