Eximbank's announcement


Eximbank denied the news of being placed under special control

This afternoon, August 18, Mr. Pham Huu Phu, General Director of Vietnam Export-Import Commercial Joint Stock Bank (Eximbank), confirmed that information about this bank being put under special control is untrue.
This information spread on the stock market in the last two days and had a heavy impact on Eximbank's stock price.
In this morning's trading session, investors continued to sell more than they bought for this type of stock, causing the stock price to trade around 11,800 - 12,000 VND/share, down 600 - 800 VND/share compared to the reference price. show at the beginning of the day. Compared to last week, Eximbank's stock price has decreased by 11.85%.
Since the beginning of August, information from the State Bank of Vietnam (SBV) said that the results of the Eximbank inspection have been completed and will be announced this August. While the market waits for the results of the Eximbank inspection, the State Bank of Vietnam announced the results of the inspection of Dong A Commercial Joint Stock Bank (DongA Bank) and put DongA Bank under special control. The market immediately deduced the possibility that Eximbank would also fall into a similar situation.
Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam Ho Chi Minh City branch, said: "Inspections and inspection results are normal activities of the State Bank of Vietnam for credit institutions and banks. This is to ensure banks operate stably and develop sustainably. Rumors related to banks in recent days are completely inaccurate. Board of Directors, Board of General Directors, Board of Supervisors Banks like Eximbank or DongA Bank are currently operating normally as usual, with no information related to arrests."
Regarding the recent merger information between Eximbank and Nam A Commercial Joint Stock Bank (NamA Bank), Mr. Nguyen Hoang Minh affirmed that up to now, the State Bank has not received any proposals from the two banks for a merger. . The State Bank of Vietnam fully supports banks that voluntarily merge to become a bank with a larger scale and stronger financial capacity... However, in the bank restructuring project, both Eximbank and NamA Bank are subject to voluntary mergers. restructuring.

Previously, at the General Meeting of Shareholders of both Eximbank and NamA Bank, the issue of bank merger was not included in the content of shareholders' approval.
Mr. Nguyen Hoang Minh said: "The State Bank will proactively inform about issues related to the situation of banks, people should not listen to unofficial sources of information."

This afternoon, Eximbank widely announced data about this bank's operations. According to audit data conducted by Ernst & Young Auditing Company, by the end of the second quarter of 2015, Eximbank's consolidated capital adequacy ratio (CAR) reached 15%, the ratio of outstanding loans to total deposits. maintained at 75%, bad debt ratio 2.09%, pre-tax profit reached 567 billion VND, completing 57% of the 2015 plan. With these figures, Mr. Pham Huu Phu, General Director of Eximbank, affirming that Eximbank's operations are stable, with absolutely no special control from the State Bank. At the same time, Mr. Pham Huu Phu also confirmed that the information about the arrest of Mr. Le Hung Dung, Chairman of the Board of Directors of Eximbank, is not true.

Online Youth Source (August 18, 2015)

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