Asia Commercial Joint Stock Bank (ACB on HoSE) has recently updated its list of shareholders owning over 1% of its charter capital.
As of September 10, 2024, ACB added five new shareholders holding 6.774% of its charter capital. Among them are three organizations: Giang Sen Trading Investment JSC, Bach Thanh Trading Investment JSC, and Thien Huong International Education Village JSC.
Specifically, Giang Sen Trading Investment JSC currently holds nearly 80.3 million ACB shares, or 1.798%. A related party to this shareholder owns 228.1 million ACB shares, representing 5.107% of the bank’s charter capital.
Bach Thanh Trading Investment JSC owns 55.9 million ACB shares, equivalent to 1.252% of the charter capital. The number of shares held by a related party to this shareholder is over 250.2 million, making up 5.609%.
Thien Huong International Education Village JSC holds 58.57 million shares, or 1.311%. The number of shares owned by a related party to this shareholder is 107.75 million, representing 2.412%.
The two individual shareholders are Nguyen Thien Huong JENNY, holding over 60 million shares or 1.344%, and related parties holding over 113.8 million shares or 2.548% of the charter capital. The other individual shareholder, Nguyen Duc Hieu JONNY, holds over 47.73 million shares or 1.069%, with related parties holding over 126 million or 2.823%.
Previously, on July 30, ACB announced its shareholders owning over 1% of its charter capital, with Ms. Dang Thu Thuy, a member of the Board of Directors, holding the most shares at over 53.35 million, or 1.194%. Related parties of Ms. Thuy hold over 467 million shares, or 10.457% of ACB.
Following her is Mr. Tran Hung Huy, Chairman of the Board of Directors, holding 153 million ACB shares, or 3.427% of the charter capital. Related parties of Mr. Huy hold over 367 million shares, or 8.218%.
Prudential Vietnam Assurance Private Limited holds over 69.46 million shares, or 1.555% of the charter capital. Related parties hold 350,635 shares, or 0.008%.
Other major shareholders include SMALLCAP World Fund, Inc., holding over 112 million shares or 2.51%; Broadwalk South Limited, with nearly 82.3 million shares or 1.842%; and VOF FE Holding 5 Limited, holding over 76.6 million shares or 1.715%.
According to ACB’s published management report, Giang Sen Trading Investment JSC and Bach Thanh Trading Investment JSC are two entities related to Chairman Tran Hung Huy.
Recently, VCSC maintained its target price for ACB at VND32,000 per share and retained its “buy” recommendation. Notably, VCSC’s forecast for ACB’s net profit for 2024-2028 remains almost unchanged (corresponding to -1.6%/0.2%/-1.8%/-1.1%/0.3% for 2024, 2025, 2026, 2027, and 2028, respectively).
Additionally, there were no significant changes in VCSC’s forecast for total profit in 2024-2028 due to a 4.1% increase in non-interest income (NOII) from higher corporate lending, offsetting a 2.5% increase in impairment allowance as VCSC projected the NPL ratio for 2024 to rise to 1.0% from 0.8% in the previous forecast.
Meanwhile, the ratio of restructured loans under Circular No. 02 to total credit of ACB decreased from 0.45% in the first quarter of 2024 to 0.31% in the second quarter of 2024. VCSC attributed this to the lower demand for new loan restructurings and, to some extent, to the conversion of restructured loans into non-performing loans, leading to an adjustment in VCSC’s forecast for ACB’s NPL ratio for 2024.
On September 13, ACB shares closed slightly lower at VND24,400 per share.
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