Last week: TPBank wants to sell 40 million treasury shares, OCB’s estimated Q1 profit is 1,275 billion VND

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Two business scenarios of Vietbank: Minimum expected profit of 390 billion, maximum of 1,100 billion

Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank, UPCoM: VBB) has just announced the documents of the 2021 annual general meeting of shareholders, expected to take place on April 26.

In 2021, the State Bank (SBV) assigned credit growth target to Vietbank as of December 31st of 4.5%, equivalent to a maximum of VND 51,267 billion. With the credit growth target above, Vietbank sets two business targets for the year 2021.

With the minimum business plan, Vietbank sets the credit balance target as of the end of 2021 to be 51,267 billion dong. Total assets of Vietbank up to this point are expected to grow by 20% compared to the beginning of the year, reaching VND 110,000 billion.

Along with that, total mobilization by the end of the year is expected to increase 21%, equivalent to 84,000 billion VND. Profit before tax in 2021 under this scenario is VND 390 billion, an increase of 2.6% compared to the actual figure of the previous year. NPL ratio controlled below 2%.

In the case that the State Bank considers to adjust the credit growth target, Vietbank sets the target of triple profit before tax, estimated at 1,100 billion dong.

It is expected that as of December 31, 2021, total assets of Vietbank will increase by 31% to 120,000 billion VND; credit balance increased 22% to 60,000 billion VND and customer deposits (including valuable papers) increased 31% to 91,000 billion VND.

TPBank wants to sell more than 40 million treasury shares, estimated to collect about 1,200 billion

The Board of Directors of Tien Phong Commercial Joint Stock Bank (TPBank, HoSE: TPB) has just issued a resolution approving a plan to sell up to 40 million existing treasury shares, equivalent to 3.73% of its charter capital.

The purpose of this treasury stock sale is to increase the number of outstanding shares, restructure capital sources and supplement working capital to invest in business activities.

Expected execution time is in the second quarter of 2021 by matching order and by agreement, after being allowed by the State Securities Commission. The principle of price determination is in accordance with current regulations of law.

Temporarily calculated according to the market price at the end of April 12 (29,150 VND / share), the total value of the treasury shares of TPBank reached nearly 1,200 billion.

Exchange rate is under pressure from many sides

In the recently released macroeconomic report, KB Vietnam Securities Company (KBSV) said that the interbank USD/VND exchange rate continued to fall in the first quarter and only slightly increased at the end of March due to bullish pressure from the USD.

By the end of March, the central rate increased by 0.5% at the beginning of the year while the interbank rate decreased by 0.1%. The exchange rate listed at commercial banks also fluctuated narrowly, at 22,970 / 23,180 due to the abundant supply of foreign currencies thanks to the surplus trade balance (estimated at $ 2 billion in the first quarter).

“Due to the excess supply of foreign currencies, we observed that in the first quarter, about 6.5 billion USD was sold by commercial banks to the SBV,” said KBSV.

On the black market, the exchange rate increased sharply due to the difference between the domestic and international gold prices. The gap between the domestic and international gold prices widened to 5-7 million VND / tael; The demand for hoarding increased sharply after Tet while the supply was limited and gold was not imported through a quota, leading to a sharp increase in the demand for gold smuggling. According to KBSV, this is the reason why the exchange rate on the free market soared recently.

On the international market, the multilateral nominal rate (NEER) and the multilateral real rate (REER) returned to the uptrend since late February, reflecting the appreciation of the dollar in the world. Combined with the widening gap between the black market rate and the interbank exchange rate, KBSV believes that the pressure to devalue the VND is even clearer.

Hoa Binh State Bank of Vietnam requires control of related loans spread suddenly

The State Bank of Hoa Binh province requires banks and credit institutions in the area to focus on implementing and directing departments and professional departments to inspect and review credit contracts of production and business households, focusing on the area where there is a movement to grow orchids and transactions to buy and sell genetically mutable orchids.

From there, banks and credit institutions promptly detect customers using loans invested in this field to warn of possible risks to customers; strictly controlling new loan projects, in the process of appraisal, it is necessary to coordinate with local authorities at all levels, street population groups, villages, neighbors … to grasp the basic information of the project and the project owner, be cautious when investing capital in the above-mentioned projects.

In addition, the State Bank of Hoa Binh province also requested banks and credit institutions to strengthen the inspection and supervision of the use of loans by customers to promptly detect violations of credit contract commitments, use loans for the wrong purposes, ineffectively, at risk of loan losses. , apply appropriate measures and sanctions to ensure the safety of bank loans.

At the same time, banks and credit institutions need to strengthen internal inspection and control, combine the capture of information from the authorities to detect and promptly handle officials, civil servants, public employees and bank employees related to the unusual purchase and sale of orchids mentioned above or acts of coding with those who take advantage of the purchase. , selling genetically muted orchids for fraud.

OCB is estimated at 1,275 billion dong of pre-tax profit, fulfilling 23% of the year plan

Phuong Dong Commercial Joint Stock Bank (HoSE: OCB) recently announced its business results for the first quarter of 2021 right before the annual shareholder meeting.

Accordingly, OCB recorded a total net revenue of over VND 2,000 billion, an increase of 3.3% over the same period in 2020. In which, net interest income increased by 15.7%, reaching VND 1,366 billion.

In contrast, non-interest and service revenues showed slight signs of decline, the ratio of net non-interest income to total net revenue of OCB in the first quarter of 2021 decreased slightly by 7%.

Closing the first quarter, OCB is estimated to collect 1,275 billion dong of pre-tax profit, up more than 15% over the same period in 2020. OCB’s NIM (net profit margin) increased sharply in the first quarter of the year to 4.19%, while the quarter I / 2020 is 3.86%. The operating expenses to total income (CIR) ratio of OCB slightly increased to 29.1% from 26.3% in the same quarter last year.

By the end of the first quarter of 2021, the total assets of OCB reached VND 160,418 billion, an increase of 34.7% over the same period last year. Market mobilization 1 (including investment trusts), reached 112,299 billion VND, up 24.6% over the same period in 2020.

Market 1 credit balance (including corporate bonds) reached 94,839 billion VND, an increase of 19.7% compared to the first quarter of 2020. In which, customer loans reached 93,400 billion VND, up 20.1%.

Shareholders’ meeting of VietinBank: There is no plan to adjust the ownership ratio of State shareholders

On the morning of April 16, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank, HoSE: CTG) held the 2021 annual general meeting of shareholders.

Sharing at the meeting about a separate profit plan of 16,800 billion VND, an increase of 2.14% compared to the implementation level in 2020 (16,448 billion VND), VietinBank Chairman Le Duc Tho said that the bank has proposed to the Bank. The State plans to increase profit in 2021 about 10-20% compared to 2020, but after balancing, the State Bank has decided to temporarily assign a profit plan of 16,800 billion VND as submitted at the meeting.

Explaining the submission of two dividend payment plans, the Chairman of VietinBank said that the difference is purely from the calculation of dividends before and after the capital increase. Basically, VietinBank will pay 5% cash dividend, the entire remaining capital after deducting the fund in accordance with regulations will be paid dividends in shares. “The bank’s point of view is a balance between ‘consumption’ (cash dividends) and ‘accumulation’ (stock dividends,” said Tho.

Regarding the issue of capital increase, Chairman Le Duc Tho said that until now, there is no plan to adjust the ownership ratio of State shareholders. The State ownership rate in VietinBank is currently at 64.45%, the lowest possible level according to current regulations.

Foreign ownership is currently approximately the maximum of 20%. “Just as much as IFC withdraws, the market will immediately absorb it,” said Tho.

Source: vietnamfinance.vn – Translated by fintel.vn