January, 25 2014 10:25:50

BIDV seeks foreign strategic investors

HCM CITY (VNS)— The Bank for Investment and Development of Viet Nam has set a goal to win foreign strategic partners later this year or no later than the first half of 2015, according to the bank's chairman Tran Bac Ha.

"Morgan Stanley (a consulting firm) has provided us a shortlist of over 20 potential investors that are commercial banks, financial groups and major investment funds in Asia, Europe and America," Ha said during a ceremony at the bank's first trading session at the HCM Stock Exchange yesterday. The listing facilitates liquidity for its over 2.8 billion shares.

He added that special interest had been shown by investors from Japan.

The bank has been working out criteria for the selection of foreign strategic shareholders, drafting information memos and forming a database as part of its preparation.

It also plans to issue new shares to increase legal capital.

BIDV expects to have pre-tax profit of at least VND6 trillion (US$285.7 million) this year.

The bad debt rate will be controlled at no more than 2.6 per cent. Return on assets (ROA) will be 0.78 per cent and return on equity (ROE) will be 13.3 per cent.

Shareholders will be able to receive dividends of between 8-9 per cent. By end of last year, the bank's total assets stood at VND550 trillion ($26.2 billion).

Its pre-tax profits totalled VND5.233 trillion ($249.2 million), up almost 21 per cent over the 2012 figure.

Exchange-traded funds expected in third quarter

Speaking at the event,Nguyen Son, the head of the State Securities Commission's market development department, revealed that stock market management bodies had been making every legal and technical preparation for the establishment of the country's first Exchange-Traded Funds (ETFs) and its certificate trading in the third quarter.

The two exchanges in Ha Noi and HCM City are completing related regulations and the mechanism for the trading of ETF certificates.

In addition, the Viet Nam Securities Depository is working on the implementation of clearing ETF certificate transactions. — VNS

Send Us Your Comments:
Your E-mail address:

VietNamNews may edit your comments and not all emails will be published.


Mountains of coal sludge still threat to lives in Quang Ninh Mountains of coal sludge still threat to lives in Quang Ninh

Wiping sweat from his forehead, 36-year-old Trinh Duc Sang took big strides along a road covered with muddy coal sludge and dirt to the place that was his home until just three weeks ago. He climbed a rickety ladder that buckled under his weight to reach his neigh-bour's house overlooking a creek. From there, he crossed into his old home.

Doctors treat patients for free at clinic in Ha Noi Doctors treat patients for free at clinic in Ha Noi

For more than 20 years, Dang Thi Nhan, 67, has been waking up about 30 minutes earlier each day to bake cakes or prepare tea for two retired doctors in a clinic near her house in Ha Noi's Giap Bat Ward.

Wounds begin to heal between US, Viet Nam 1    Wounds begin to heal between US, Viet Nam

Pham Ba Lu swore thousands of times that he "would not live under the same sky as the United States".

Water resources, eroding land need saving Water resources, eroding land need saving

Water management has become a major topic of discussion in recent years among Viet Nam's lawmakers, experts and society. The country has been struggling to deal with water-related issues such as a rising sea level, land subsidence and saline intrusion in the Mekong Delta. Lawmakers and experts shared their views on water management with Viet Nam News reporters Thu Van and Hoang Anh.