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Sunday, June 16, 2024

ACB eyes VND22 trillion in profit this year

The Saigon Times

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HCMC – Asia Commercial Joint Stock Bank (ACB), whose ACB shares are traded on the Hochiminh Stock Exchange, aims for VND22 trillion in profit this year, an increase of 10% compared to 2023.

Documents prepared for its shareholders’ general meeting showed that ACB looks to increase its total asset value by 12% by the end of 2024. The bad debt ratio is targeted below 2%.

The bank’s board of directors planned to distribute a 25% dividend, with 15% in shares and 10% in cash. With this plan, ACB will increase its charter capital by VND5.8 trillion to VND44.7 trillion.

ACB’s general meeting for 2024 is scheduled to take place on April 4 at the Sheraton Saigon Hotel in downtown HCMC.

Closing the trading session today, March 14, ACB fell by 1.45% day-on-day to VND27,250, with 8.2 million shares transacted.

On the southern bourse, high selling pressure dragged the VN-Index down 6.25 points, or 0.49%, against yesterday’s session, at 1,264.26 points, with losers outnumbering winners by 292 to 193.

The total trading volume exceeded 1.05 billion shares, worth VND27.9 trillion, up by nearly 8% in volume and 6% in value against the previous session. Block deal transactions totaled nearly 36 million shares worth VND1.17 trillion.

Twenty-two stocks in the VN30 basket were in negative territory today, with MWG down by 2.7% to VND47,250 and MSN falling by 2.5% to VND78,900.

On the other hand, the most actively traded stocks were the trio of securities firms SSI, VND, and VIX. While SSI and VND saw marginal declines, with trading volumes of almost 40 million shares each, VIX soared by 3.5% to VND20,800, with over 46.8 million shares changing hands.

On the northern bourse, there were 100 stocks increasing and 82 stocks decreasing. The HNX-Index rose by 1.48 points, or 0.62%, reaching 239.68 points. There were nearly 162.8 million shares traded on the market, valued at VND3.4 trillion.

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