Vietcombank is now the second largest shareholder at Eximbank

Share this on: Hanoi, Oct 18 2024 - 07:07 AM
Vietcombank is now the second largest shareholder at Eximbank

Vietcombank is now the second-largest shareholder of Eximbank, trailing only Gelex, according to Eximbank's recent published shareholder list.


Vietcombank is now the second-largest shareholder of Eximbank, trailing only Gelex, according to Eximbank's recent published shareholder list.

One of the Big4 banks now holds 78.79 million Eximbank's shares (EIB), representing a 4.51 per cent ownership of Eximbank's charter capital.

The State-owned banking giant Vietcombank has maintained a significant stake in EIB for over a decade.

Initially owning over 8.19 per cent of Eximbank's capital before 2012, Vietcombank later reduced its ownership to 4.5 per cent, in compliance with regulatory directives.

The original cost of the 78.9 million EIB shares purchased by Vietcombank was close to VNĐ400 billion. But at the current market price, the deal is worth about VNĐ1.4 trillion (US$55.6 million).

Over the past few months, Eximbank's shareholder composition has seen notable fluctuations following the entry of Gelex Group. Currently, Gelex is the leading shareholder with 174.7 million shares, representing a ten per cent ownership stake.

Gelex made its debut on the bank's shareholder roster in July and has since boosted its ownership from 4.9 per cent to 10 per cent.

Eximbank also has three shareholders who own over 1 per cent of the charter capital: VIX Securities JSC, Lương Thị Cẩm Tú and Lê Thị Mai Loan.

On the stock market, EIB shares closed the day at VNĐ18,800, up 1.9 per cent.

EIB shares witnessed a substantial price increase since September 23, followed by a significant sell-off on October 14.

The sell-off was triggered by rumors circulating in stock forums about a document suggesting personnel changes within the bank. These speculations caused apprehension among investors, especially given Eximbank's ongoing efforts to fortify its management structure amid significant changes.

Eximbank clarified that the document shared on social media, concerning serious risks to operational safety and the potential collapse of the Eximbank system, is neither an official communication from the Eximbank Control Board nor endorsed by the bank.

Eximbank said that this unverified document's origins are unclear. The bank is now seeking official assistance to investigate the motives behind circulating this document, aiming to protect the legal rights and interests of the bank, customers, shareholders and partners.

Eximbank assures that it operates steadily, safely and effectively, catering to diverse financial needs. Financial data is transparent, audited to international standards. Key indicators are robust, meeting capital and liquidity requirements, and resilient to market risks. The bank complies with regulations, ensuring transparency.

In the first nine months of 2024, Eximbank saw positive growth with profit before tax of over VNĐ1.47 trillion, up slightly over last year. — VNS



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