Viet Capital Bank gets approval to list 317.1mln shares on UpCOM

The first transaction day of BVB shares will be on July 9, with the reference price of VND10,700 ($0.46), according to information published by the Hanoi Stock Exchange. With the reference prices, the Vietnamese lender will have the market capitalization of VND3.4 trillion ($146.5 million).

The lender’s total assets stood at nearly VND53 trillion ($2.3 billion) as of end-March 2020, according to its consolidated earning report for first quarter. Among the total assets, outstanding loans was estimated at VND34,760 billion ($1.5 billion).

The bank's bad debt as of March 31, 2020 was VND1,004 billion ($43 million), equivalent to 2.89% of total outstanding loans.

In 2020, Viet Capital Bank targets total revenue to rise 29% from 2019 to VND1,453 billion ($62.5 million) and after-tax profit is projected to increase 27% to VND160 billion ($6.9 million).

In 2019, the lender reported VND126 billion ($5.4 million) after-tax profit, up 34 percent on-year.

Viet Capital Bank, formerly known as Gia Dinh Bank, was established in 1992. In 2012, the bank had its name changed to Ban Viet Commercial Joint Stock Bank.

In 2011, the bank increased its charter capital to VND3 trillion ($129 million) from VND2 trillion ($86 million). Between January 2012 and April 2013, the lender was operated under new leadership of chairwoman Nguyen Thanh Phuong. The position was later transferred to Le Anh Tai, according to VietnamFinance.

Currently, Phuong is a member of the Board of Directors and holds 14.7 million shares or 4.6% stakes in the bank.