Ms. Tran Thi Thu Hang became the female chairman of the Board of Directors of Kienlongbank at the age of 36
Kien Long Commercial Joint Stock Bank (Kienlongbank, UPCoM: KLB) recently announced the resolution to elect the chairman of the Board of Directors for the term of 2018-2022.
Accordingly, Ms. Tran Thi Thu Hang, Vice Chairman of Kienlongbank’s Board of Directors, holds the title of Chairman of the Board of Directors for the term 2018-2022 from May 26, 2021.
During the completion of relevant procedures, from May 3 to May 25, Ms. Tran Thi Thu Hang will take the role of Vice Chairman of the Board of Directors in charge of Kienlongbank’s Board of Directors.
Previously, Kienlongbank announced a resolution to resign from the position of Chairman of the Board of Directors for Mr. Le Hong Phuong, from May 3, 2021. Kienlongbank’s Board of Directors also approved a resignation letter from the position of member of the Board of Directors for the term of 2018-2022 according to Mr. Phuong’s expectation.
Ms. Hang was born in 1985, holds a Master of Banking and Finance – National Economics University. Ms. Tran Thi Thu Hang has more than 10 years of experience in the banking industry, from 2011 to 2018, she experienced several management positions at LienVietPostBank and MSB.
From 2019 to 2020, Ms. Hang moved to work in the real estate sector, is the general manager of Sunshine Group Joint Stock Company, vice chairman of the Board of Directors of Sunshine Homes Joint Stock Company, general director of Joint Stock Company. Sunshine Tech commercial investment.
From January 28, 2021 to January 31, 2021, she held the position of member of the Board of Directors of Kienlongbank. She has held the position of Vice Chairman of the Board of Directors of Kienlongbank from February 1, 2021 up to now.
VCBS: Inflation in May may decrease, interest rates will continue to be low
The expert group of Vietcombank Securities Company (VCBS), in its recently released analysis report, forecasts that inflation in May may decrease by 0.1% compared to April, as consumption is somewhat affected by the Latest epidemic waves occurred in Vietnam.
The consumer price index (CPI) in April decreased by 0.04% compared to March, corresponding to an increase of 1.27% compared to December 2020 and by 2.7% over the same period last year. On average, in the first 4 months of 2021, CPI increased by 0.89% over the same period last year, the lowest increase since 2016. Meanwhile, the basic inflation in 4 months increased by 0.74%.
Inflation is low so in April, interest rates mobilized and lending barely changed. At this stage, according to VCBS, the message of the State Bank continues to show consistency, strict control of credit flowing into business activities, real estate investment and the general orientation is to maintain low interest rates to support businesses in the context of the epidemic.
Regarding the pressure to raise interbank interest rates at the end of April, VCBS believes that the above movement is only seasonal when the end of the month is usually the time when banks close the data and the pressure is only recorded locally at one. bank number, which does not reflect the entire banking system.
Moreover, in the context of concerns about disease developments, credit expectations and demands are unlikely to be boosted. In particular, investment capital flows continue to find an ideal location like Vietnam.
“We maintain our view that market factors will support interbank interest rates to be maintained at a low level,” said VCBS.
A series of capital raising moves pushed the price of VPB’s shares to rise dramatically
Statistics show that since the beginning of the year until now, the share price of VPB of Vietnam Prosperity Commercial Joint Stock Bank (VPBank) has increased by nearly 90%, to above VND 60,000 per share and has not shown any signs of stopping.
In the recently published report, SSI Securities Company raised its recommendation to “positive” for VPB shares with a one-year target price after adjustment of VND 70,000 / share.
Steadily high annual profit growth is the foundation (the year 2021 is expected to increase profit before tax by 28%, only the parent bank will increase by 35-38%). The new capital increase is the driving force to help this stock sublimation.
According to SSI experts, the sale of capital at FE Credit will help VPBank record a profit after tax of about 23,000 billion dong in 2021, which also means that the bank’s equity will increase by 23,000 billion dong.
According to calculations by research firm FiinGroup, in the short term, money flowing into FE Credit is about 3,572 billion VND (equivalent to 154 million USD) because VPBank increased its charter capital FE Credit to 10,900 billion immediately before the transaction, most of the flow The remainder of the transaction of USD 1.2 billion will flow into VPBank’s pocket.
In addition, VPBank is likely to renegotiate a bancassurance contract with AIA insurance company, thereby increasing profits as well as equity.
Not stopping there, VPBank is also negotiating a private placement for a foreign strategic partner. This plan starts in 2019 and could be completed later this year.
SSI expects that VPBank will issue a private placement with a P / B valuation of about 2 to 2.5 times, then the bank’s book value will increase by about 8% to 12%.
VIB was approved to increase capital with a maximum of VND 4,437 billion
Vietnam International Commercial Joint Stock Bank (HoSE: VIB) has received Official Letter No. 3100 / NHNN-TTGSNH of the State Bank of Vietnam approving the increase of charter capital.
Accordingly, VIB was approved to increase its charter capital by a maximum of VND 4,437.6 billion from VND 11,093 billion, in the form of bonus share allocation to existing shareholders from unsistbuted net profit and additional reserve funds of charter capital.
According to the capital increase plan approved by the annual shareholder meeting in 2021, VIB plans to use more than 4,437 billion dong of undistributed profit after tax and the reserve fund to supplement charter capital to increase the capital scale to a maximum of more than 15,531 billion. VND, corresponding to the number of additional shares is over 443 million units.
After raising capital in this form, VIB plans to offer at most 46.5 million shares. Charter capital after offering is at most 15,997 billion dong. However, the State Bank has only approved for VIB to increase capital up to a maximum of 4,437 billion dong, so the above plan still needs to be submitted to the State Bank for consultation.
The mobilized amount is expected to use 4,403 billion VND to enhance credit, the rest to invest in liquid assets, investment in facilities, technology, products, risk management capacity, investment investment in upgrading the branch network.
Mr. Nguyen Duc Thuy is a Vice Chairman of the Board of Directors of LienVietPostBank
On May 6, 2021, the Board of Directors of Lien Viet Post Joint Stock Bank (LienVietPostBank) agreed to elect Mr. Nguyen Duc Thuy to be the Vice Chairman of the Board of Directors of LienVietPostBank.
Previously, at LienVietPostBank’s 2021 Annual General Meeting of Shareholders which took place on April 29, Mr. Nguyen Duc Thuy was elected to the Board of Directors for the 2018-2023 term with a support rate of 99.56%.
Thus, the Board of Directors of LienVietPostBank currently consists of 7 members, of which: Mr. Huynh Ngoc Huy is the Chairman of the Board of Directors.
3 vice presidents include: Mr. Pham Doan Son cum General Director, Mr. Nguyen Duc Thuy and Mr. Duong Cong Toan. The remaining 3 members of the Board of Directors are: Mr. Le Hong Phong, Ms. Chu Thi Lan Huong and Ms. Duong Hoai Lien – independent members of the Board of Directors.
Mr. Nguyen Duc Thuy is known as the founder of Thaiholdings Joint Stock Company (HNX: THD). He resigned from the position of Chairman of the Board of Directors of Thaiholdings from February 29, 2020, and was no longer a member of the Board of Directors.
The presidency of Thaiholdings is currently held by Mr. Nguyen Van Thuyet, Mr. Nguyen Duc Thuy’s younger brother.
However, Mr. Thuy is still a major shareholder of Thaiholdings, with a holding of more than 10 million units, equivalent to a 20% ownership rate.
Source: vietnamfinance.vn – Translated by fintel.vn