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Thursday, July 25, 2024

Lender SHB allowed to raise charter capital

The Saigon Times

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HCMC – The State Bank of Vietnam has allowed Saigon Hanoi Commercial Joint Stock Bank (ticker: SHB) to increase its charter to over VND36.6 trillion.

The central bank made its decision after SHB had finished issuing over 43.5 million shares under an employee share ownership plan (ESOP).

With charter capital of over VND36.6 trillion, SHB continues to hold its position among the four largest privately held commercial banks in the country.

This will serve as the basis for the bank to continue implementing its 2024 charter capital increase plan, which among other issues was approved at the annual general meeting.

Specifically, SHB shareholders approved the plan to distribute 2023 dividends at 16%, including 5% in cash and 11% in shares, and raise the bank’s charter capital to VND40.6 trillion.

The bank has also planned to pay a dividend of 18% for 2024, while targeting total assets of VND701 trillion and pre-tax profit of VND11.3 trillion.

Closing the trading session today, June 28, SHB inched up by 0.88% to VND11,400, with 19.7 million shares changing hands on the southern exchange.

The VN-Index of the Hochiminh Stock Exchange dropped by 13.77 points, or 1.09%, at 1,245.32 points, with 355 losers and only 79 winners.

There were around 840.4 million shares worth VND20.86 trillion transacted, up by 40.78% in volume and 37.46% in value against yesterday’s session. Block deal transactions contributed nearly VND4 trillion to the overall value.

The index of the VN30 basket lost over 10 points, with only nine stocks advancing and 18 others declining.

Notably, GVR closed down 5% to VND34,200 by the end of the trading session, deducting more than 1.7 points from the overall index.

Large-cap stocks, such as BID, HPG, FPT and VPB, all closed at their lowest prices of the day.

On the flip side, some stocks saw modest gains. POW led the way, rising 1% to VND14,900 with a trading volume of 11.44 million units, while others inched up slightly, mostly under 0.5%.

On the northern bourse, the HNX-Index lost 2.48 points, or 1.03%, at 237.59 points. The total trading volume exceeded 66.38 million shares valued at a total of VND1.2 trillion.

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