OCB gets approval to list 1 billion shares on exchange

Khanh Minh Wednesday | 12/30/2020 14:11

Photo: cafeF.vn

Orient Commercial Bank has got approval to list more than 1 billion shares on the Ho Chi Minh City Stock Exchange, according to exchange filing.

The OCB shares will be officially traded on the exchange in early 2021.

In 2020, the Vietnamese lender issued shares to raise capital for a foreign strategic partner Aoroza Bank. The Japanese bank invested $160 million for 15 percent stake in OCB.

As of end-November, OCB's customer deposit increased 18 percent to VND101,321 billion ($4.4 billion). Outstanding loan increased 22 percent to VND 86,543 billion.

The bank’s Jan.-Nov. cumulative pre-tax profit rose 30 percent year-on year to VND3,830 billion ($165.4 million), 18 percent higher than the profit in 2019.

As of end-November, OCB's total assets grew 13 percent from end-2019 to VND133,923 billion ($5.78 billion), equity increased sharply by 47 percent to VND16,969 billion ($733 million).

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