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Tuesday, June 25, 2024

Sacombank deputy general director resigns

The Saigon Times

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HCMC – The Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) has relieved Le Van Ron from his posts of deputy general director and risk management director at the bank following his request, with effect from today, February 1.

Ron has 32 years’ experience in finance and banking. He started to work at Sacombank in 2017.

Regarding the commercial bank’s business performance, its pre-tax profit in the final quarter of 2022 reached almost VND1.9 trillion, expanding 65% against the same quarter in 2021.

Its before-tax profit in 2022 rose 44% year-on-year at more than VND6.3 trillion and surpassed last year’s target by 20%.

As of December 31 last year, the total assets of Sacombank totaled nearly VND592 trillion, up over 13% versus the end of 2021.

Closing the trading session today, February 1, the Sacombank stock, STB, plunged 5.35% over the session earlier at VND25,650.

The local stock market turned bearish.

With up to 351 decliners and 89 advancers, the benchmark VN-Index of the Hochiminh Stock Exchange shed over 35 points, or 3.17% against the previous session at 1,075.97.

Meanwhile, trade on the southern bourse surged to its two-month high as more than one billion shares worth VND17.6 trillion changed hands, up 38% in volume and over 30% in value versus yesterday. Of the total value, shares traded in block deals accounted for VND1.2 trillion.

Only HDB and VIB in the group of bank stocks increased and the rest ended in negative territory.

None of the securities stocks rose. Only APG closed unchanged.

Similarly, lots of steel stocks suffered losses, such as NKG, HPG and HSG.

Stocks in the Vingroup family also extended losses. Housing developer VHM and retailer VRE each slipped 5.7%, while property firm VIC inched down 3.3%.

As for market liquidity, steelmaker HPG took the lead with 51.9 million shares transacted, followed by VND with 47.9 million shares.

On the Hanoi exchange, the HNX-Index lost 6.42 points, or 2.89% day-on-day at 216.01, with 54 stocks rising and 123 others dipping. Nearly 132 million shares valued at VND1.9 trillion were traded on this bourse, soaring 49% in volume and 48% in value compared to the previous session.

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