MB Shinsei Finance Company Limited (Mcredit) has just announced periodic information on its financial situation for the first 6 months of 2024.
Accordingly, at the end of the first half of 2024, Mcredit recorded a slight decrease in equity of 3.6% compared to the same period last year to VND 3,038 billion.
The company reported a 7.6-fold decrease in after-tax profit compared to the first 6 months of 2023, from VND 328 billion to VND 43 billion. As a result, the after-tax profit/equity ratio (ROE) decreased from 21.92% to 1.39%.
In 2023, Mcredit also reported a profit of VND240 billion, a significant decrease compared to the previous year. In 2021 and 2022, Mcrdeit's after-tax profit was VND479 billion and VND950 billion, respectively.
Notably, Mcredit's debt/equity ratio increased from 6.69 times in the same period last year to 8.19 times, corresponding to an increase in debt from VND 21,087 billion to VND 24,881 billion.
Of which, the company's bond debt/equity ratio decreased from 0.73 times to 0.36 times, equivalent to the debt balance decreasing from VND 2,301 billion to VND 1,094 billion.
Mcredit's capital adequacy ratio as prescribed by specialized laws at the end of June 2024 has decreased from 14.42% to 13.35%.
In addition, Mcredit also updated the situation of interest and principal payments on bonds in the first half of 2024. Accordingly, the company spent nearly 57 billion VND to pay interest and 500 billion VND to pay principal on bond lots.
According to updated information on the Hanoi Stock Exchange, up to now, Mcredit has only issued 1 batch of bonds to the market this year.
Specifically, the MSFCLH2430001 bond lot was issued on June 26, 2024, with a total value of VND 300 billion. The bond lot has a term of 6 years, expected to mature in 2030. The issuance interest rate is 6.98%/year.
At the same time, in addition to the above bond lot, there is only one more bond code of Mcredit circulating normally on the market, MSFCLH2225002, worth 300 billion VND, issued on April 29, 2022, term of 36 months, expected to mature in 2025.
Issuance interest rate is 6.7%/year. The depository organization is Vietnam Securities Depository and Clearing Corporation.
Introduced on the website, MB Shinsei Finance Company Limited (Mcredit) was established in 2016, is a joint venture finance company between Military Commercial Joint Stock Bank (under MB Group) and SBI Shinsei Bank (Japan).
The Chairwoman of the Board of Members of the company is Ms. Vu Thi Hai Phuong. Before taking on the above position, she held many important positions at MB such as Director of Dien Bien Phu branch and Deputy General Director (concurrently Director of Large Customer Division and Network - Distribution Division).
During the period 2014 - 2019, she was Head of MB Supervisory Board and Vice Chairman of MB Board of Directors for the term 2019 - 2024. Ms. Phuong is currently Vice Chairman of MB Board of Directors, Chairman of MB Risk Management Committee.
Source: https://www.nguoiduatin.vn/mcredit-bao-lai-nua-dau-nam-2024-giam-8-lan-so-voi-cung-ky-204240831101436202.htm
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