Bank publicly discloses list of shareholders owning 1% or more of charter capital

According to the provisions of the Law on Credit Institutions 2024, which took effect on July 1, shareholders owning 1% or more of a credit institution’s charter capital must provide the credit institution with information about themselves and related persons. Up to this point, a series of commercial banks have announced the list of shareholders owning 1% or more of the charter capital.

Specifically, most recently, Saigon-Hanoi Commercial Joint Stock Bank (SHB) announced the list of shareholders owning 1% or more of charter capital according to the Law on Credit Institutions and based on information provided by shareholders. Accordingly, institutional shareholders include T&T Group Joint Stock Company owning 7.85%, Saigon-Hanoi Securities Joint Stock Company (SHS) owning 1.46%, Handicraft Import-Export Joint Stock Company and related persons owning 2.44%.

Individuals owning more than 1% of SHB's charter capital include Mr. Do Quang Hien - Chairman of SHB's Board of Directors (2.72%), Ms. Do Thi Thu Ha (2.03%), Mr. Do Quang Vinh (2.77%), Mr. Do Vinh Quang (2.93%).

The information disclosure is to comply with Article 49 of the Law on Credit Institutions on public disclosure of information of shareholders owning 1% or more of charter capital.

According to the Law on Credit Institutions 2024, related persons to organizations and individuals are more widely covered than before. At the same time, according to the Law on Credit Institutions 2024, the ownership ratio limit for shareholders who are organizations is reduced from 15% to 10%, and for shareholders and related persons is reduced from 20% to 15%. In case this group owns shares exceeding the limit according to the new regulations, it will still be maintained but not increased, except in the case of receiving dividends in shares.

According to SHB representative, this bank always ensures shareholders' rights, paying annual dividends in shares at a rate of 10-18% in the past 5 years (dividends in 2023 will be paid in cash and shares). The bank continuously improves its capital base, capital safety ratios, and risk management always complies better than the regulations of the State Bank.

Previously, Vietnam Technological and Commercial Joint Stock Bank (Techcombank, code TCB) also announced a list of 13 shareholders, including 6 individuals and 7 organizations holding 1.84 billion TCB shares, equivalent to 52.265% ownership of the bank.

According to the list published by Techcombank, 4 foreign funds including the Singapore Government Investment Fund owns more than 1%, Morgan Stanley & Co. International Plc holds 1.45%, COG Investment I BV and related parties hold 7.9%, Vesta VN Investments BV and related parties hold 7.9%.

Masan Group Corporation and its affiliates hold 15.2%. In addition, there is also a company called Mapleleaf Limited Liability Company specializing in immigration consultancy that owns up to 4.96% of the bank's capital.

Of which, some individuals holding more than 1% of the capital are related to Mr. Ho Hung Anh, Chairman of Techcombank and his family members. Specifically, the wife of the Chairman of Techcombank holds nearly 5% and her relatives, including individuals and organizations, own more than 980 million TCB shares, equivalent to 27.8% ownership of the bank. Mr. Ho Hung Anh, Chairman of Techcombank, holds more than 1.1% of the charter capital. His three children hold nearly 12% of the shares.

Before SHB and Techcombank, Eximbank, VPBank, LPBank, OCB, MSB are also credit institutions that have announced the list of shareholders owning 1% or more of charter capital.

According to some economic experts, the disclosure of information about shareholders owning 1% or more of charter capital is a necessary measure to control cross-ownership. Previously, banks only had to disclose information about major shareholders holding 5% or more of capital or information about leaders and related people.

Financial-banking expert Dr. Nguyen Tri Hieu also acknowledged that the announcement and reduction of shareholder ownership ratio will help diversify the shareholder structure, increase public participation and limit domination and manipulation of banks.

“In addition, the reduction of the ownership ratio of the organization from 15% to 10% is also in line with the orientation of the project to restructure the credit institution system associated with bad debt settlement in the period of 2021-2025. From there, it will help the credit institution system become more public, transparent and safer,” Dr. Nguyen Tri Hieu shared.

Source: https://nhandan.vn/nhieu-ngan-hang-cong-khai-danh-sach-co-dong-so-huu-tu-1-von-dieu-le-tro-len-post838207.html