On March 3, locally-invested lender Bac A Bank officially listed 708.5 million shares on the Hanoi Stock Exchange (HNX) under the transaction code of BAB.
Bac A Bank has stopped transactions on the Unlisted Public Company Market (UPCoM), where it has been traded since late December 2017, and shifted to the HNX.
|Bac A Bank has officially been listed on the Hanoi Stock Exchange |
Under Decision No.765/QD-SGDHN enacted by the HNX in late January 2021, Bac A Bank was allowed to list 708,500 million common stocks under the code of BAB.
“Bac A Bank's listing on the HNX is in line with the bank’s development roadmap, affirming the prestige and status of the bank, increasing benefits for all stakeholders, and breaking open a new long-term capital mobilisation channel. This will also help make the bank’s information more transparent and increase its values and ability to approach new investors – this is a firm foundation for Bac A Bank to continue strongly and grow comprehensively in the time to come,” the bank said in a press release.
In late October 2020, Bac A Bank completed the registration of supplementary transaction for 58.5 million stocks in a bid to issue stocks to pay dividends in 2019. Accordingly, Bac A Bank raised its total charter capital from VND6.5 trillion ($282.6 million) to VND7.085 trillion ($308 million).
Bac A Bank ‘s total assets were valued at VND117.3 trillion ($5.1 billion) as of the end of the 2020 fiscal year, up 8.6 per cent compared to the figure in the beginning of the year, with the asset quality increasingly ensured.
The bank’s capital mobilisation activities have continued flourishing under its plan to increase the mobilisation of middle and long term capital. As of December 31, 2020, deposits at Bac A Bank reached VND92.455 trillion ($4 billion), up 12.2 per cent against the year’s beginning.
Credit growth has been controlled properly, with high safety and quality ensured. The bank’s loans as of December 31, 2020 totalled VND79.44 trillion ($3.45 billion).
The ratio of bad debts at the bank sat at 0.79 per cent, which was lower than the common level of the whole banking system.
In 2020, Bac A Bank completed its revised business plan, with VND624.5 billion ($27.1 million) in after-tax profit. In the 2016-2020 period, the average after-tax profit of the bank grew 12.27 per cent per year.