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Friday, July 26, 2024

Eximbank has new chair

The Saigon Times

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HCMC – Vietnam Export Import Commercial Joint Stock Bank (Eximbank), whose EIB shares are traded on the Hochiminh Stock Exchange (HOSE), has elected Do Ha Phuong as board chairwoman, replacing Luong Thi Cam Tu.

Do Ha Phuong, aged 39, has over 15 years’ experience in the finance-banking field. She earned a bachelor’s degree in accounting in the U.S. and did a master’s degree in finance in the UK.

She became a member of Eximbank’s Board of Directors in February 2022.

At the beginning of this year, Eximbank held an extraordinary shareholders’ meeting to approve the resignations of two BOD members and elected three new members for the term of 2022-2025.

It was not until the second meeting in February that the election was accepted as the first one was unsuccessful due to the insufficient attendance of shareholders.

Following the acceptance of two additional resignations in the middle of April, Eximbank’s BOD now consists of only five members.

In the recent shareholders’ meeting, the bank set a target of increasing its total assets in 2023 by 13.5% over last year to VND210 trillion. The target for pre-tax profits was set at VND5 trillion, a 35% increase compared to 2022.

Closing the trading session today, EIB stock increased by 0.96% VND21,000 per share, with over 11 million shares changing hands.

After seven consecutive sessions of stock market gains, the profit-taking pressure in the real estate, steel, and securities sectors drove down the VN-Index of the Hochiminh Stock Exchange by nearly 13 points at the close today, June 29.

Market breadth turned negative as losers outnumbered gainers by 361 to 84. The main index lost 12.96 points, or 1.1%, from the session earlier, at 1,125.39 points.

Trade volume totaled over 906.8 million shares worth VND17.3 trillion, up 2% in volume and down 3% in value from the day earlier. There were 67.7 million shares valued at VND1.47 trillion traded in block deals.

Among blue-chip stocks in the VN30 basket, only VNM and VCB inched up to support the index. VNM increased by 1.8% to VND71,900, while VCB inched up by 0.8% to VND101,900.

Other 28 stocks experienced sharp drops, with SSI plunging by 4.1% to VND25,450 per share, NVL down by 3.8% to VND15,000, and HPG falling by 3% to VND25,800.

DIG took the lead in liquidity today, with over 48.1 million shares traded, the highest level since November 2022. Its shares plunged by 5.8% to VND21,100.

The steel stocks witnessed a significant downturn, with HPG plummeting by 3%, NKG down by 5%, and SMC dropping by 4.6%.

Meanwhile, the HNX-Index of the Hanoi Stock Exchange slid 2.77 points, or 1.2%, to 227.48 points, with 50 gainers and 148 losers. Over 94.1 million shares worth VND1.5 trillion changed hands.

VC3 was the best performer today as it surged by 8.4% to VND25,900 per share, with 0.82 million shares traded.

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