More VIB was officially approved to list shares on HoSE

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The Ho Chi Minh City Stock Exchange (HoSE) has just announced its approval of listing shares to Vietnam International Commercial Bank with stock code VIB, the number of listed shares is more than 924.49 million shares.

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More than 924 million shares of VIB have just been approved by HOSE to list.

VIB shares are traded on the UPCoM market from January 9, 2017 up to now. More than a week ago, VIB also approved to cancel the transaction registration on UPCoM to list on the HoSE.

Thus, VIB is the second bank approved to list on the HoSE stock exchange in 2020, after LienVietPost Bank. MSB and ACB also applied to list on HoSE.

VIB shares ended October 16 session at 33,200 dong / share. This stock is up about 70% in the last 3 months.

VIB also announced Q3 business results of VND 1,668 billion in pre-tax profit, up 30% compared to quarter 2/2020 and up 52% compared to quarter 3/2019.

In the first 9 months, total revenue of VIB reached 7,854 billion dong, up 34%; Profit before tax reached VND 4,025 billion, an increase of 38% compared to the same period last year. Revenue from service activities reached VND 1,637 billion, accounting for 21% of total revenue, the ratio of operating expenses to revenue remained at 40%. Provision expenses increased by 27% over the same period last year. Average ROE is 28.9%, one of the highest in the industry.

On September 30, VIB’s total assets reached over 213 trillion dong, credit outstanding balance was over 151 trillion dong, up 14.2 percent from the beginning of the year, nearly 3 times higher than the industry average. NPLs ratio is below 2%, lower than Q2.

VIB has a charter capital of 9,244 billion dong. In September, the bank was approved by the State Bank to increase its charter capital from VND 9,244 billion to VND 11,093 billion from VIB’s equity by dividing bonus shares at the rate of 20% for existing shareholders.

Source: ndh.vn – Translated by fintel.vn