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Tuesday, July 16, 2024

OCB seeks to revise up capital to VND20 trillion

The Saigon Times

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HCMC – Orient Commercial Joint Stock Bank (OCB) has announced plans to issue nearly 685 million shares to existing shareholders in a bid to boost its charter capital to over VND20 trillion this year.

If successful, the bank’s charter capital would rise from VND13.7 trillion to VND20.55  trillion, according to the documents for its 2023 annual general meeting of shareholders.

OCB looks to increase its total assets by 25% to VND242.152 trillion. The pre-tax profit target for 2023 is VND6 trillion, up 37% compared to 2022, while the non-performing loan ratio is controlled below 3%.

Currently, this bank has VND7.04 trillion in retained earnings, of which VND2.94 trillion is from 2022 and VND4.09 trillion from previous years. It has proposed using these retained sums and other sources from shareholders to spur capital and support its business operations.

The increase in charter capital is necessary to enhance financial capacity and improve the capital adequacy ratio (CAR), according to the bank.

OCB closed the trading session today, April 10, unchanged from the session earlier at VND16,900, and reported a matching volume of 1,009,600 shares.

Regarding stock news today, the VN-Index of the Hochiminh Stock Exchange slid 4.36 points, or 0.41%, at 1,065.35 points, with 173 advancers and 215 decliners.

Trade on the southern bourse totaled nearly VND15.06 trillion with 857.46 million shares changing hands, slumping 39.64% in value and 32.73% in volume over the previous session, including 68.25 million shares valued at about VND1.98 trillion traded in block deals.

The SHB stock continued to surge in the ATC session, with over 10 million shares transacted. At the end of the session, SHB advanced 3.4% to its daily high at VND12,000 per share with over 52.41 million shares transacted.

On the Hanoi Stock Exchange, the HNX-Index added 0.4 points, or 0.19%, to 212 points, with 84 winners and 86 losers.

The total matched trading volume reached 154.23 million units, with a value of over VND2.04 trillion.

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