No advisory bank bonds are overdue.
Responding to shareholders' concerns about Techcombank 's low-risk, high-profit business model at the Annual General Meeting on April 22nd, Chairman Ho Hung Anh stated that, regarding real estate, the bank will focus on good customers, good projects, and areas where Techcombank truly understands. This will enable them to weather difficult times.
"We will not spread ourselves too thin, but diversify. The bank will expand into other areas such as retail and SMEs, which are segments heavily invested in digitalization, helping Techcombank diversify its market segments," Mr. Hung Anh affirmed.
Techcombank has a high volume of real estate loans, but the majority are personal loans for home purchases. Regarding projects, the bank selects good clients and projects with complete legal documentation that continue to develop even during challenging times.
Regarding Masterise – a company within Techcombank's ecosystem – Mr. Hung Anh stated that, in reality, Masterise's role is not that of a real estate investment company, but rather a development unit that collaborates with investors to implement projects and collect fees.
"There was no credit financing provided to Masterise for investment in real estate projects," the Chairman emphasized.
Techcombank's 2023 Annual General Meeting of Shareholders in Hanoi .
Masterise's ongoing projects are all operating normally and meeting construction deadlines, with some projects delivering homes to customers on time despite the challenging period.
Regarding bonds, Techcombank always manages them as loans with collateral. The bank's bonds are managed from the perspective of their financial health, collateral, and repayment capacity.
The amount of advice provided to the retail market is substantial, and none of the bonds that the bank advised on have defaulted on interest or principal payments, demonstrating the effectiveness of bond risk management.
With Decree 08 and other government policies, the Chairman of Techcombank believes that the bond market will recover.
The stock market will recover quickly.
At the General Meeting, Techcombank shareholders also expressed concerns about purchasing shares offered privately by Techcombank Securities Joint Stock Company (TCBS), in order to increase their ownership stake in the company to over 94%.
According to Techcombank's leadership, TCBS has operated effectively over the past five years and has become a leading securities company with consistently high return on assets (ROA and ROE).
However, the company's potential for business expansion is limited by its equity capital (specifically, the bond investment limit is 70% of equity capital and the margin lending limit is 200% of equity capital).
Securities companies experienced fluctuations in 2022-2023, but the market will quickly recover.
Therefore, TCBS will offer 105 million shares to Techcombank at an expected offering price of VND 95,600 per share. The total amount raised at the expected price is VND 10,038 billion. After the offering, TCBS's charter capital will increase by VND 1,050 billion to over VND 2,176 billion.
Mr. Ho Hung Anh believes that securities companies experienced fluctuations in 2022-2023, but the market will quickly recover. TCBS is a leading unit in bond advisory and issuance consulting, so focusing on its strengths is appropriate.
The issuance plan will be implemented in accordance with the law and with the approval of competent authorities such as the State Bank of Vietnam and the State Securities Commission .
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