Dragon Capital no longer a major shareholder in Military Bank

December, 08/2020 - 07:10

A group of investment funds run by Dragon Capital announced Monday it has sold one million shares of Military Bank (MBB), reducing their ownership from 5 per cent to 4.97 per cent and is no longer a major shareholder of the Bank.

 

Customers use Military Bank services. MBB shares closed Monday at VNĐ20,900 per share. — Photo kinhtenongthon.vn

HÀ NỘI — A group of investment funds run by Dragon Capital announced Monday it has sold one million shares of Military Bank (MBB), reducing their ownership from 5 per cent to 4.97 per cent and is no longer a major shareholder of the Bank.

The transaction was conducted on December 2.

In the first nine months of this year, MBB recorded total revenue of VNĐ19.65 trillion (US$845 million), up by 9.4 per cent year-on-year.

Pre-tax profit totaled VNĐ8.1 trillion and after-tax profit reached VNĐ6.6 trillion, up 6.8 per cent and 7.4 per cent against last year, respectively.

In 2020, MBB plans to earn pre-tax profit of VNĐ9.03 trillion, down 10 per cent compared to 2019. However, under favourable market conditions, the Bank will adjust the pre-tax profit plan higher to reach VNĐ10 trillion, equivalent to 2019.

As of September 30, MBB's total assets increased by 4 per cent compared to the beginning of the year, at VNĐ421 trillion. In which, customer loans increased by 7 per cent while provision for loans increased by 50 per cent.

Regarding capital, MBB recorded a slight decrease of 1.3 per cent in customer deposits compared to the beginning of the year.

In terms of loan quality, the bank has a total VNĐ4 trillion in bad debts, an increase of 39 per cent compared to the beginning of the year. — VNS

 

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