Vietnam Export Import Commercial Bank (Eximbank) has just updated the list of shareholders owning 1% or more of the charter capital, based on information provided by shareholders from July 1st to October 10th, 2024.

Accordingly, Gelex Group Joint Stock Company remains the largest shareholder in Eximbank with a 10% stake in the charter capital, equivalent to more than 174.695 million shares.

Notably, this list unexpectedly includes a name once familiar to Eximbank shareholders: Vietnam Foreign Trade Commercial Bank ( Vietcombank ).

According to the published list, Vietcombank is currently the second largest shareholder in Eximbank with a 4.51% stake, equivalent to more than 78.793 million shares.

The remaining three shareholders on the list to be disclosed include: VIX Securities Joint Stock Company with 3.58% (over 62.345 million shares); and two members of the Board of Directors, Ms. Luong Thi Cam Tu holding 1.12% (equivalent to over 19.359 million shares) and Ms. Le Thi Mai Loan holding 1.03% (equivalent to over 17.940 million shares).

Thus, compared to the most recent update on August 13th, this update includes Vietcombank. And in the two most recent updates, the shareholder list has successively included two "giants": Gelex and Vietcombank.

Vietcombank is no stranger to Eximbank's long-standing shareholders, as this state-owned banking giant was a major shareholder for many years. In December 2018, Vietcombank reduced its ownership stake in Eximbank from over 8% to 4.84% as required by Circular 36 of the State Bank of Vietnam, and subsequently divested all its shares in Eximbank through transactions on the HOSE stock exchange.

With its return to Eximbank, the exact timing of the acquisition was not disclosed, but it is estimated that Vietcombank spent over 1,000 billion VND to acquire a 4.51% stake in Eximbank's charter capital.

Regarding Eximbank, in the first nine months of 2024, total assets increased by 11% compared to the beginning of the year and by 16.9% compared to the same period last year. Total deposits increased by 9.1% compared to the beginning of the year and by 12.2% compared to the same period last year. Outstanding loans increased by 15.1% compared to the beginning of the year and by 18.9% compared to the same period last year.

Eximbank's pre-tax profit increased steadily across quarters (with pre-tax profit in Q3 increasing by 39% year-on-year). The capital adequacy ratio (CAR) is at 12-14%, higher than the 8% threshold stipulated by the State Bank of Vietnam.

Eximbank responds to rumors of 'urgent complaint'.

Eximbank responds to rumors of 'urgent complaint'.

Eximbank affirms that the document circulating information about a petition and urgent report regarding serious risks to the Eximbank system did not originate from the bank. Eximbank is requesting assistance from relevant authorities to verify and clarify the motives behind the dissemination.
At its first shareholders' meeting in Hanoi, Eximbank is considering relocating its headquarters.

At its first shareholders' meeting in Hanoi , Eximbank is considering relocating its headquarters.

Vietnam Export Import Commercial Bank (Eximbank) has just announced unusual information regarding the Board of Directors convening an extraordinary general meeting of shareholders in 2024. The two main topics are the meeting location, which will take place in Hanoi, and the relocation of the head office.
The State Bank of Vietnam has approved GELEX's acquisition of Eximbank shares.

The State Bank of Vietnam has approved GELEX's acquisition of Eximbank shares.

The State Bank of Vietnam has approved GELEX Group's purchase of shares in Eximbank. Following the transaction, GELEX will become a major shareholder of the bank.