Business

Vietinbank to issue ten-year bonds worth 88 mln USD

The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) will issue 200,000 non-convertible, non-guaranteed ten-year bonds, worth 2 trillion VND (88.04 million USD).
Vietinbank to issue ten-year bonds worth 88 mln USD ảnh 1Vietinbank will issue 200,000 non-convertible, non-guaranteed ten-year bonds, worth 88 million USD, this week. (Photo: VNA)

Hanoi (VNA) – The VietnamJoint Stock Commercial Bank for Industry and Trade (Vietinbank) will issue200,000 non-convertible, non-guaranteed ten-year bonds, worth 2 trillion VND (88.04million USD) this week.

The commercial bank announced lastweek that the bonds will be offered at 10 million VND (440 USD) each with afloating interest rate.

Investors are required to purchase atleast ten bonds, equivalent to 100 million VND, and must register for purchasefrom October 25 to November 13 this year at the bank’s branches and offices.

Last week, the bank was named in theTop 10 of 500 most profitable companies in Vietnam in 2017 (Profit500) byVietnam Report and Vietnamnet News.

Vietinbank posted a pre-tax profit ofapproximately 8.57 trillion VND (377 million USD) and a total asset of 948.7trillion VND (41.74 billion USD) in 2016. Its Return on Equity (ROE) and Returnon Assets (ROA) were estimated at 11.8 percent and 1 percent, respectively.

In the first half of this year, itspre-tax profit grew 12 percent, fulfilling 54 percent of the bank’s yearlytarget.-VNA
VNA
#Vietnam Joint Stock Commercial Bank for Industry and Trade #Vietinbank #bond #non-convertible #non-guaranteed #ten-year bond #2017 #banking #business #Vietnam business #Vietnam news #Vietnamplus
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