Nam A Bank to list 456.4 mln shares on Vietnam’s main exchange

In early October, the Vietnamese lender listed the shares on the unlisted public market with the reference price of VND13,500 ($0.58) apiece. The share price has increased five percent to VND14,200 ($0.61).

At the UPCoM listing ceremony, the bank’s leaders announced to have the shares to be listed on HoSE in 2022. The lender which got approval from shareholders on the listing is seeking strategic investor.

In 2020, Nam A Bank targeted VND1 trillion pre-tax profit target and decided to increase charter capital to VND7 trillion from VND3.89 trillion ($168 million).

Earlier, the bank got approval from the State Bank of Vietnam to raise capital to VND5 trillion ($216 million) from VND3.89 trillion.

In the first 9 months of 2020, the lender’s pre-tax was reported at VND387.7 billion ($16.7 million), down 33 percent, completing 48 percent of the whole-year plan.

Total assets as of the end-September were more than VND119,474 billion ($5.17 billion), up 26 percent.

Credit increased by 27 percent to VND86,016 billion ($3.7 billion), while none performance loans was at VND1,963 billion ($85 million), up 47 percent. Bad debt ratio increased to 2.2 percent from 1.9 percent from end-2019. Customer deposits increased by 31 percent to VND92,453 billion ($4 billion).