Cross-ownership in banks has decreased sharply after the banks recently changed their top leaders at the 2018 annual general meetings of shareholders (AGMs) to meet the central bank’s new regulation.
After years of receiving low dividend payout rate by banks, shareholders of many banks are now happy with the high rates announced at this year’s annual general meetings (AGMs) of shareholders.
Vietnamese shares yesterday extended their losses for a second day on the two national stock exchanges as many large-caps in banking and securities suffered strong selling pressure.
The profits of many banks in the first quarter of this year are estimated to rise higher than that of the same period last year thanks to significant credit growth.
Banks are expected to make major changes in the selection of their top personnel for the upcoming term from 2018 to 2023 to meet the Government’s new regulation.
After gaining positive business performance last year, many banks have planned to hold annual general meetings (AGMs) for 2018 soon.