BAC A BANK gets thumbs-up at Hanoi Stock Exchange
12:57 | 05/01/2021 Print Article
The Hanoi Stock Exchange has just released Decision No.765/QD-SGDHN approving BAC A BANK to list on the bourse, with a total listed share volume of more than 708.5 million at VND10,000 ($0.43) per share under the code BAB.
BAC A BANK was established in 1994 and has been operating on the Unlisted Public Company Market (UPCoM) since late December 2017. Recently, BAC A BANK’s charter capital has been continuously increasing to support its investment in fixed assets, network development, and provision of loans for customers.
|BAC A BANK has officially appeared on the Hanoi Stock Exchange |
On October 26, 2020, the bank completed the registration of a transaction for 58.5 million shares in order to pay dividends in 2019. Thanks to this, BAC A BANK raised its charter capital from VND6.5 trillion ($282.6 million) to VND7.085 trillion ($308 million), making it one of the banks with medium-sized charter capital and sound financial health.
In terms of business results, BAC A BANK’s pre-tax profit climbed at an average of 10-20 per cent in the 2012-2020 period.
In the first nine months of 2020, defying the difficulties caused by the health crisis, BAC A BANK’s pre-tax and post-tax profits hit over VND522 billion ($22.7 million) and more than VND418 billion ($18.2 million). Thus, after the nine months, BAC A BANK fulfilled 75 per cent of its VND700 billion ($30.43 million) pre-tax profit target for the whole year.
Over the course of the first three quarters of 2020, BAC A BANK’s total assets increased by 4 per cent to almost VND112.042 trillion ($4.87 billion). BAC A BANK’s loans went up 1 per cent to VND73.903 trillion ($3.2 billion) during the period while deposits ascended 14 per cent to reach VND86.904 trillion ($3.78 billion).
In the time to come, in addition to unceasing efforts to renew its financial and banking product portfolios, BAC A BANK will maintain investment consultancy services and loans for enterprises engaging in projects utilising high technologies, or those related to healthcare, education, and social security. BAC A BANK will also retain sustainable and stable growth in revenue and profit, bringing big values to its shareholders.