ACB plans to spend 10,000 billion VND to repurchase bonds before maturity.

The Board of Directors of Asia Commercial Bank (HoSE:ACB ) has just issued a Resolution on the early repurchase of privately placed bonds issued for the fourth time in 2021.

Accordingly, ACB will repurchase four tranches of bonds, including ACBH2124005, ACBH2124006, ACBH2124011, and ACBH2124012, with a total face value of up to VND 10,000 billion.

These are four tranches of non-convertible, unsecured bonds that are not subordinated debt of ACB.

The repurchase dates for these four bond tranches are June 22nd, June 23rd, July 8th, and July 15th, respectively. The repurchase price is equal to the face value of the issued bonds.

The funds for the buyback will come from proceeds from medium- and long-term VND loans or other maturing loans/investments or other legitimate sources of funds maturing at the time of bond buyback.

These are four tranches of non-convertible, unsecured bonds that are not subordinated debt of ACB.

Regarding business performance, in the first quarter of 2023, ACB's pre-tax profit reached VND 5,156 billion, an increase of 25.3% compared to the same period last year.

During the period, most business segments recorded growth, except for profit from operations and investment securities trading (a loss of 1 billion VND).

Net interest income recorded a 14.2% increase, reaching VND 6,215 billion; net profit from foreign exchange trading increased by 44%, reaching VND 438 billion; and the securities trading segment generated VND 43 billion, compared to a loss of over VND 11 billion in the same period last year.

As of March 31, 2023, the bank's total assets increased by 0.6% to VND 611,224 billion. Of this, loans to customers decreased slightly by 0.6% to VND 411,289 billion.

Regarding asset quality, the bank's non-performing loan balance increased by 31.5% to VND 4,003 billion, pushing the non-performing loan ratio up from 0.74% at the end of 2022 to 0.97% at the end of the first quarter.

ACB is a bank that has been attracting a lot of attention recently, following Chairman Tran Hung Huy's dance performance of "Lonely on the Sofa" at the Gala celebrating its 30th anniversary .

Source: https://www.nguoiduatin.vn/acb-du-chi-10-000-ty-dong-mua-lai-trai-phieu-truoc-han-a612498.html