Bảo Minh Insurance plans to divest from MBB

January 24, 2021 - 06:43

Bảo Minh Securities Corporation (BMI) has registered to sell all of its shares in Military Commercial Joint Stock Bank (MBB), according to an announcement from the Hồ Chí Minh Stock Exchange (HoSE).

A customer performs a transaction at an MBBank transaction office. Photo MBBank

HÀ NỘI — Bảo Minh Securities Corporation (BMI) has registered to sell all of its shares in Military Commercial Joint Stock Bank (MBB), according to an announcement from the Hồ Chí Minh Stock Exchange (HoSE).

BMI is holding 1.242 million shares of MMB. The trading method will be matching orders or negotiation. The deal is expected to begin from January 20 to February 18.

Vũ Thái Huyền, chairman of the board of BMI, is a member of the board of MBB.

On the southern bourse, MBB declined 2.06 per cent to end Monday at VNĐ26,200. But since the beginning of 2021, MBB share price increased by nearly 9.4 per cent. With the current price, BIM can earn more than VNĐ32.5 billion from the deal.

In the third quarter, MBB reported an increase of 6.1 per cent year-on-year to more than VNĐ6,735 trillion in revenue. The bank’s profit after tax rose 8.3 per cent to VNĐ2.357 trillion. In the first nine months of last year, the profit after tax climbed 6.4 per cent year-on-year to nearly VNĐ6.332 trillion. VNS

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