Bắc Á Bank set for IPO by 2020

HÀ NỘI Viet Nam News -— Bắc Á Bank plans to make its initial public offering (IPO) during 2016-2020, Thái Hương, the bank’s general director, said yesterday at the annual shareholder meeting.

The bank will also try to become one of the leading banks in the sector in business efficiency, information technology and human resources, she said.

The shareholders have also approved the bank to establish the Bắc Á Remittance Company Limited with charter capital of VNĐ77 billion (US$3.4 million).

This year, Bắc Á Bank plans to make after-tax profits of VNĐ400 billion and a total asset of VNĐ71 trillion, an increase of 7 per cent and 12 per cent from last year.

In 2015, the bank received an after-tax profit of VNĐ359 billion, an increase of one-third from the previous year’s figure and its bad debt ratio fell to 0.65 per cent from 2.15 per cetn in 2014. — VNS

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