MSB postpones 2024 Annual General Meeting of Shareholders

Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) recently issued an unusual information announcement announcing the change in the time of holding the 2024 Annual General Meeting of Shareholders (AGM).

Accordingly, the Board of Directors (BOD) of MSB has approved a Resolution to postpone the meeting from April 10 to April 23. The reason is to complete the preparation for the meeting. In the previous announcement, the bank said the venue is 54A Nguyen Chi Thanh, Lang Thuong Ward, Dong Da District, Hanoi City. The expected last registration date for the right to attend is March 8, 2024.

It is expected that the General Meeting of Shareholders will organize the election of up to two additional members to the MSB Board of Directors for the 2022-2026 term. However, as of February 26, MSB has not yet received any nominations or candidacies from any shareholders to become members of the Board of Directors.

According to information on the bank's website, MSB's Board of Directors currently has 7 members, with the Chairman of the Board of Directors for the 2022-2026 term being Mr. Tran Anh Tuan, 2 Vice Chairmen being Ms. Nguyen Thi Thien Huong, Mr. Nguyen Hoang An and 4 members being Ms. Le Thi Lien, Mr. Nguyen Hoang Linh and independent member Mr. Ta Ngoc Da.

Regarding business performance, MSB ended the fourth quarter of 2023 with a profit after tax of VND 483.7 billion, down 37.4% over the same period last year. Accumulated for the whole year, the bank's profit after tax was VND 4,644.2 billion, up 0.6%.

As of December 31, 2023, MSB's total assets reached more than VND 267,000 billion, an increase of 25% compared to 2022. Total deposits as of this date were over VND 132,000 billion, an increase of 13% over the same period in 2022. Of which, term deposits reached VND 97.2 trillion, an increase of 21% over the same period; deposits from individual customers were approximately VND 76 trillion in 2023, accounting for 57% of the total portfolio, an increase of 26% over the same period; CASA balance accounted for 26.54% of total capital mobilization .

Source