Eximbank to divest capital from Sacombank

The Vietnam Export Import Commercial Joint Stock Bank (Eximbank) will sell its 165 million shares at the Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) in a proper time.

Friday, April 21, 2017 17:05

Eximbank to divest capital from Sacombank ảnh 1

Illustrative image (Source: baodautu)

HCM City (VNA) – The Vietnam Export Import Commercial Joint StockBank (Eximbank) will sell its 165 million shares at the Sai Gon Thuong TinCommercial Joint Stock Bank (Sacombank) in a proper time.

Eximbank General Director Le Van Quyet affirmed this during the bank’s annualgeneral meeting in 2017 held in Ho Chi Minh City on April 21.

The bank has pushed up divestment process as requested by the State Bank ofVietnam, Quyet said, highlighting that the bank will seek a suitable partner tooffload its Sacombank shares.

According to Eximbank’s executive board, the bank earned a profit of 168billion VND (7.4 million USD) in the first three months of this year and saw nocredit growth in the period.

The bank sets a target of having total asset of 150 trillion VND (6.6 billion USD)in 2017, a year-on-year surge of 16 percent, and pre-tax profit of 600 billionVND (26.4 million USD). Credit activities are expected to grow 14 percent, withoutstanding loans of nearly 108.9 trillion VND (USD).-VNA

VNA

#Eximbank #Sacombank #divestment process

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