BIDV ready for equitization
08:30 | 18/04/2007
VNGOP – The Bank for Investment and Development of Vietnam (BIDV) has just publicized its business performance in the first quarter of 2007. In next September, BIDV will submit its detailed equitization plan to the PM for decision. It also intends to launch the initial public offering (IPO) in the last quarter this year.

Illustration photo

According to Mr. Trần Bắc Hà, BIDV Director General, BIDV is now the State-owned trade bank ranking the second in terms of operation network and capital. In 2006, its capital mobilized among the public in the form of customer deposit products accounted for 76% of the total capital. The Bank applied interest rate increase for some categories of deposit and opened many bonus saving series to attract more customers.

BIDV has obtained a high interest percentage with a safety factor of 9.1% (the minimum international standard is 8%).

Mr. Trần Bắc Hà revealed that the Government is considering BIDV's overall equitization plan. BIDV will fulfill financial settlement and select strategic investors to finish its equitization in late September 2007 and launched the first sale of  common shares to investors on a public stock exchange in the fourth quarter this year.

By Hoàng Nguyên Hồ

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