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Sacombank authorized to issue bonds worth $300 mln
Sacombank, Vietnam’s second-biggest bank by market value, will issue VND5 trillion (US$300 million) in bonds this year, according to Sacombank’s message sent to Thanh Nien Daily Wednesday.
The bank, known in full as Saigon Thuong Tin Commercial Joint Stock Bank, said it had received the central bank’s approval for the issue.
Sacombank said it would be responsible for setting the interest rate for the bonds, and other necessary procedures for the issuance are also in the process of being completed.
The bank, which is the only listed bank on the Ho Chi Minh Stock Exchange, last month issued certificates of deposit in Vietnamese dong, US dollar and the euro that totaled more than $237 million.
It received permission last month to become the first Vietnamese lender to open branches in Laos and Cambodia.
The Ho Chi Minh City-based bank said January-April gross profit jumped 40 percent to VND536 billion ($33.5 million).
Total assets at the end of April were worth VND73.25 trillion ($4.58 billion), down 2.6 percent from March’s figures.
The World Bank’s International Finance Corp., Dragon Capital and ANZ Bank together own 30 percent of Sacombank, the ceiling for foreign ownership of listed banks in Vietnam.
Thanhnien
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