What's happening with Eximbank shares?

During the morning session on October 14th, Eximbank shares fell from 19,150 VND to 18,000 VND.

At 11 a.m., many banking stocks simultaneously dropped in price. Most notably, shares of Vietnam Export Import Bank (Eximbank) were heavily sold off by investors.

As a result, Eximbank shares fell from 19,150 VND to 18,000 VND per share (-5.76%), with trading volume exceeding 25 million shares.

Mr. CTC, a shareholder of Eximbank, said that early on October 14th, the market received rumors that the Eximbank Supervisory Board had sent a document to relevant authorities requesting and reporting on the bank's unsafe lending practices.

"This information might cause many people to worry that Eximbank shares will fall even further. Holding this stock would be risky, leading to a sell-off. Even I felt uneasy and sold thousands of Eximbank shares at a loss of 18,000 VND each," said Mr. CTC.

Speaking to the press, an Eximbank executive stated that the bank had checked and, to date, had not received any written requests or complaints regarding lending activities from the Eximbank Supervisory Board.

Regarding Eximbank, one of the major changes the bank plans to make in the near future is relocating its current headquarters to a different location.

Specifically, Eximbank will hold its 2024 Extraordinary General Meeting of Shareholders on November 28th in Hanoi , but the exact location has not yet been announced. Furthermore, Eximbank has not yet mentioned the location chosen for its new headquarters.

Previously, at the annual shareholders' meeting in April 2024, Eximbank submitted a proposal to relocate its head office from the 8th floor of Vincom Center, 72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, to the Fideco Center office building at 28 Phung Khac Khoan Street, Da Kao Ward, District 1, Ho Chi Minh City. However, this proposal was not approved by the shareholders' meeting.

The changes at Eximbank occurred after a new shareholder – Gelex Group Joint Stock Company (a company headquartered in Hanoi) – became a major shareholder of the bank, holding 10% of the shares.

Besides Gelex, according to the list as of August 13th, Eximbank also has shareholders holding over 1% of the capital, including: VIX Securities Joint Stock Company holding 62.3 million shares, equivalent to 3.58% of the charter capital; Ms. Le Thi Mai Loan holding 17.9 million shares, equivalent to 1.03% of the capital; and Ms. Luong Thi Cam Tu holding 19.5 million shares, equivalent to 1.12% of the capital.

Several members of Eximbank's Board of Directors were formerly leaders of businesses based in the northern region.

Source: https://nld.com.vn/co-phieu-eximbank-bat-ngo-bi-ban-thao-dieu-gi-dang-xay-ra-196241014115005438.htm