So which foreign investors are foreign investors who bought so many STB shares? Up to now, this is still a mystery to domestic investors. There are many speculations that foreign investors are a portfolio swap fund (ETF) called the Fubon FTSE Vietnam ETF. The Fund’s reference index is the FTSE Vietnam 30 Index. According to the announcement, this new fund will raise capital from March 24.
Fubon FTSE Vietnam ETF belongs to Fubon Financial Holdings Group from Taiwan. This is a financial giant. As of September 39, 2020, Fubon Financial Holdings’ total assets were NT $ 8,957 billion ($ 313 billion), second in size of assets among financial companies in Taiwan. However, according to the list that Fubon announced, the proportion of this fund buying STB shares only accounted for 2.12% in the VN30 basket. Meanwhile, so far, the amount of foreign money pouring into STB continued to increase strongly.
One individual, Mr. Tram Trong Ngan, currently holds more than 4% of STB
Currently, STB’s foreign room rate is only 13.8%. Statistics show that on 1/4 of foreign investors buying STB shares, accounting for 11.4% of total buying transactions on the market; On April 2, they continued to buy, accounting for 6.73% of the total market transaction; April 5 is 5.96% and April 9 takes 7%. This shows the heat of STB stock. This is also the only stock in the VN30 basket with a market price below 3x. And STB also has an individual investor holding more than 4% of the STB shares is Mr. Tram Trong Ngan, with a rate of 4.73%.
In 2021, STB sets a pre-tax profit target of VND 4,000 billion, an increase of 20% compared to the previous year. Total assets by the end of the year will be 533,300 billion VND, 8% higher than 2020, credit balance will increase 9% to 372,000 billion VND and mobilized capital will increase 9% to 485,500 billion VND. The bank will control the NPL ratio below 2%.
STB’s revenue from collecting and handling bad debts in the past year reached more than VND 15,200 billion. In which, VND 8,200 billion was withdrawn from the STB Restructuring Project after the merger with Southern Bank (Southern Bank).
From 2017 up to now, STB has handled nearly VND47,000 billion of bad debts and outstanding assets under the restructuring project, bringing the ratio of backlogged assets to less than 9%.
After deducting the deduction of funds, the cumulative retained consolidated profit of Sacombank is nearly 6,496 billion dong. The Bank plans to use all of this profit to pay dividends, increase charter capital to meet shareholders’ expectation and is waiting for the State Bank’s approval.
Source: enternews.vn – Translated by fintel.vn