SCB implements a plan to offer shares to the public

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Ngân hàng Sài Gòn (SCB) đã công bố việc triển khai phương án chào bán cổ phiếu SCB ra công chúng.

Saigon Bank (SCB) has just announced the implementation of a plan to offer SCB shares to the public.

Accordingly, SCB plans to increase its charter capital by VND 15,000 billion in the period 2020 – 2030, of which, in 2020-2021 alone, it will increase by VND 5,000 billion. According to the plan to increase charter capital by 5,000 billion VND in 2020-2021, SCB will offer 500 million shares (equivalent to 5,000 billion VND) to existing shareholders. On the basis of the total additional charter capital, SCB will prioritize adding to its business capital, focusing on investment in fixed assets, modernizing information technology and investing in building and repairing headquarters. The branch is in accordance with the annual plan orientation to meet the requirements of SCB’s development platform.

As of March 31, 2021, SCB’s asset size reached VND 660,580 billion, up 13.9% over the same period last year, maintaining its Top 5 position in the Vietnamese credit institutions system and being the private commercial bank with the largest total assets. In particular, customer lending reached VND 351,386 billion, up 5.5% over the same period last year. SCB still has good control over credit quality amid the spread of the Covid 19 epidemic, overdue debt and bad debts at the end of the first quarter of 2021 of 1.10% and 0.79%, respectively. In addition, mobilization from economic and population organizations continued to grow well, reaching VND 598,458 billion, up 19.7% compared to Q1 2020. Foreign exchange business and securities trading also achieved good results, reaching VND 419 billion, up 157.8% and equivalent to nearly 60% of the total income of this segment in 2020, contributing largely to the bank’s income component. Starting 2021 with many advantages, SCB’s pre-tax profit in the first quarter of 2021 reached VND 266.82 billion, with the main contribution from monetary services and business activities.

Source: enternews.vn – Translated by fintel.vn