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Wednesday, June 19, 2024

MBBank has new general director

The Saigon Times

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HCMC – Military Commercial Joint Stock Bank, or MBBank, announced Pham Nhu Anh has been named its new general director, with effect from May 18.

Since April 12, Anh, deputy general director, has served as the lender’s acting general director.

Anh, 43, holds a master’s degree in business administration from UBI Business School in Belgium, specializing in Business Administration, and a bachelor’s degree in economics, majoring in Business Administration from the University of Economics and Business Administration, Danang University.

In a career spanning nearly two decades in the finance and banking industry, Anh served as the bank’s branch director and head of corporate and institutional banking, and is a member of the board of directors.

His experience and expertise in finance and banking are expected to steer the bank toward greater achievements.

According to its first-quarter consolidated financial statement, the total assets of MBBank inched up 4.4% year-on-year to over VND760.7 trillion. Its profit before tax reached VND6.5 trillion, up 10% over the same period in 2022.

Its cost-to-income ratio (CIR) stayed below 30%. MBBank retained its leading position in the industry in terms of operational efficiency with a return on equity (ROE) ratio of 25.3%.

Closing the trading session today, May 19, its stock MBB inched up 0.3% from the previous session to VND18,650 per share with a matching volume of nearly 3.8 million shares.

The benchmark VN-Index of the Hochiminh Stock Exchange lost 1.24 points, or 0.12% lower than the session earlier at 1,067.07, with advancers outnumbering decliners by 168 to 212.

Trade on the HCMC bourse increased 16.3% in volume and 13.8% in value day on day, at around 755.5 million shares worth over VND13.3 trillion. Transactions in block deals accounted for VND1.7 trillion of the total value.

VND took the lead by liquidity today with over 72.1 million shares changing hands.

On the Hanoi exchange, the HNX-Index gained 0.9 points, or 0.42%, versus the previous session at 213.91, with 59 winners and 53 losers.

The northern market saw nearly 102.6 million shares valued at over VND1.6 trillion traded.

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