Business leaders shuffle, announce early shareholder meeting

Saigon - Hanoi Securities Joint Stock Company has approved the resignation of the CEO, the legal representative. ACB announces the plan to hold the annual shareholders' meeting in 2024 on April 4. MBBank will hold the meeting on April 19. LPBank also approves the plan to hold the meeting in April. VIB's annual shareholders' meeting is expected to be held in March 2024 in Ho Chi Minh City.

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Last week, the VN-Index dropped by 3.12 points to close at 1,172.55 points. The trading volume on the HoSE reached over 86,459 billion dong, an increase of 17.7% compared to the previous week. The HNX-Index also increased by 1.13 points to reach 230.56 points. The trading volume on the HNX reached over 6,658 billion dong, an increase of nearly 22% compared to the previous week.


According to statistics on the HoSE, foreign investors net bought 4.8 million units (a decrease of nearly 92% compared to the previous week) but the total value was net sold for 27 billion dong. On the HNX, foreign investors net sold 2.78 million units. However, the total value was net bought for 1.33 billion dong.

On the Upcom market, foreign investors net bought over 78 million units, the corresponding net buying value reached 1,327 billion dong. Therefore, in the trading week from January 29 to February 2, foreign investors net bought over 80 million units, with a total net buying value of 1,301 billion dong.


Early annual general meeting

Asia Commercial Joint Stock Bank

(stock code: ACB) has just announced its plan to hold its annual general meeting in 2024 on April 4. The last registration date to participate in the meeting is March 1.

ACB’s profit in 2023 ranks 7th in the industry.

In 2023, ACB achieved all its business targets approved by the annual general meeting, with a credit growth rate of nearly 18%, a mobilized capital increase of nearly 17%, and a profit before tax of over 20 trillion dong. As of December 31, 2023, ACB’s total assets reached 719 trillion dong, an increase of over 18% compared to the beginning of the year.

Similarly, Military Commercial Joint Stock Bank (

MBBank

– stock code: MBB) will hold its annual general meeting in 2024 on April 19. MBBank has finalized the list of shareholders eligible to participate in the meeting on January 18. Also on January 18, MBB finalized the shareholders eligible for election to the Board of Directors and the Supervisory Board for the 2024-2029 term.

In 2023, MBB’s consolidated profit before tax reached over 26,306 billion dong, an increase of nearly 16% compared to 2022. The bad debt ratio in 2023 was nearly 1.4%, an increase of about 0.2% compared to June 30, 2023. It is worth noting that MBB maintained a CASA ratio of over 40% in 2023.

In 2023, LPBank’s profit before tax reached 7,040 billion dong, an increase of 24% compared to 2022 and exceeded the set plan by 117%.

The Board of Directors of Vietnam Postal and Telecommunication Commercial Joint Stock Bank (

LPBank

– stock code: LPB) has also approved the plan to hold its annual general meeting in April 2024. The final registration date for shareholders and shareholder groups to nominate candidates for the Board of Directors and attend the general meeting is February 15.

In 2023, LPBank recorded a pre-tax profit of 7,040 billion dong, an increase of 24% compared to 2022 and exceeded the set plan by 117%. In particular, the profit from business activities before credit risk provisions was 9,865 billion dong. The return on equity (ROE) of this bank is estimated to be 19.16%.

It is worth noting that in the fourth quarter of 2023, the bank recorded a pre-tax profit of over 3,352 billion dong, a dramatic increase (286%) compared to the same period last year.

Vietnam International Commercial Joint Stock Bank (

VIB

– stock code: VIB) has announced that it will finalize the list of shareholders eligible to attend its annual general meeting in 2024 on February 26. The ex-dividend date will be on February 23. VIB’s annual general meeting in 2024 is scheduled to be held in March 2024 in Ho Chi Minh City.

Recently, VIB decided to allocate 1,500 billion dong to

temporarily pay a cash dividend

for 2023 at a rate of 6%, becoming the

first bank to announce

the payment of dividends in cash this year. The dividend payment date is expected to be on February 22.


High-level personnel changes

The Board of Directors of Saigon – Hanoi Securities Joint Stock Company (

SHS

– stock code: SHS) has just issued a decision approving the resignation of the CEO, the legal representative of the company, Mr. Vu Duc Tien, as requested by the individual. At the same time, Mr. Nguyen Chi Thanh – Deputy CEO – will be appointed to replace Mr. Tien.

Mr. Nguyen Chi Thanh.

The change in CEO, the legal representative of SHS takes effect from the approval of the State Securities Commission. Mr. Tien has nearly 30 years of experience in the financial sector and has been with SHS since its inception, serving as CEO since September 15, 2014.

After a long-standing dedication, Mr. Tien expressed his desire to retire to seek medical treatment. Despite stepping down as CEO, Mr. Tien will continue to serve as a Member of the Board of Directors of SHS.

Mr. Thanh has been Deputy CEO of SHS since May 5, 2014, and is currently the Chief Representative Officer of SHS in Hai Phong. He has also served as the Director of the Ho Chi Minh City Branch for many years.

In 2023, SHS achieved a total revenue of 1,465 billion dong (reaching only 75.4% of the target), and a pre-tax profit of over 684 billion dong (3.46 times higher than in 2022 but only reaching 62% of the target). As of December 31, 2023, SHS’s total assets reached 11,457 billion dong, an increase of 5.1% compared to the beginning of the year.

Eximbank has announced the resignation of Ms. Le Thi Mai Loan as a member of the Board of Directors of the bank for the seventh term (2020-2025) for personal reasons.

Ms. Le Thi Mai Loan.

Previously, at the extraordinary general meeting of Eximbank held on February 14, 2023, Ms. Loan was elected to the Board of Directors for the seventh term. Subsequently, Ms. Loan was appointed Deputy CEO from February 27, 2023.

However, after only 2 months, Ms. Loan submitted her resignation as Deputy CEO of Eximbank, following the conclusion of the 2023 annual general meeting of shareholders.

At the end of 2023, Eximbank reported a pre-tax profit of 2,720 billion dong, achieving 55% of the target set for the year. As of the end of 2023, Eximbank’s total assets increased by nearly 9%; mobilized capital increased by 6.5%; credit outstanding increased by 7.6%…