Sacombank plans to acquire a securities company in the shareholders' meeting this year. According to the assessment of the Board of Directors and Executive Board of Sacombank , investment banking activities are a trend that creates a large source of income for the global and Vietnamese banking systems.
In order to meet the needs of high-end corporate and individual customers for comprehensive financial products, a number of Vietnamese commercial banks have been and are implementing the ownership of securities companies.
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| Chairman Duong Cong Minh: Sacombank does not buy back SBS Securities Company. |
Therefore, with the desire to increase service revenue and competitiveness for Sacombank, the Bank submitted to the General Meeting of Shareholders the policy of contributing capital/buying shares of a securities company to become a subsidiary of Sacombank. The ownership ratio of charter capital/shares at the securities company is over 50%.
In response to a shareholder's question about whether Sacombank intended to buy back SBS Securities Company, a former subsidiary of Sacombank, but the Bank had already divested all its capital, Mr. Duong Cong Minh said that the Bank would not buy back this securities company.
Ms. Nguyen Duc Thach Diem, Standing Vice Chairman of Sacombank's Board of Directors, also said that the Bank had a securities company very early on, but then sold its capital in SBS. Now, Sacombank sees many opportunities so it plans to buy back the securities company, but the Bank does not need to buy back the capital of SBS Securities Company, but chooses a new securities company.
The Standing Vice Chairman of Sacombank also said that the Bank will select securities companies that meet basic standards such as: clear and transparent financial reports, clear assessment of asset quality; full range of services provided to investors; appropriate capital scale. Stable operating system, ability to connect with partners; priority given to listed securities companies.
Source: https://baodautu.vn/chu-tich-duong-cong-minh-sacombank-khong-mua-lai-cong-ty-chung-khoan-sbs-d273322.html
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