Eximbank to divest capital from Sacombank hinh anh 1Illustrative image (Source: baodautu)
HCM City (VNA) – 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.

Eximbank General Director Le Van Quyet affirmed this during the bank’s annual general 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 of Vietnam, Quyet said, highlighting that the bank will seek a suitable partner to offload its Sacombank shares.

According to Eximbank’s executive board, the bank earned a profit of 168 billion VND (7.4 million USD) in the first three months of this year and saw no credit 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 billion VND (26.4 million USD). Credit activities are expected to grow 14 percent, with outstanding loans of nearly 108.9 trillion VND (USD).-VNA