According to the latest figures from the Hochiminh Stock Exchange (HoSE), Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) completed buying all 50 million shares as treasury ones registered from October 2, meaning after only 16 sessions.
From October 2 to October 23, VPB shares regularly fluctuated above 22,000 dong per share, only two days of closing below this price. The lowest closing day was October 7, with a cost of 21,750 dong per share. If calculated at the lowest price above, VPBank spent 1.087 trillion dong on buying the above 50 million treasury shares.
Regarding the issue of buying treasury shares, VPBank’s management said that the plan was offered because the price of VPB shares was in the lower area than the actual value, the current capital of the bank was enough to make the purchase. However, the capital adequacy ratio (CAR) was still ensured according to regulations.
With the purchase of 50 million treasury shares, VPBank currently owned a total of treasury shares, amounting to 123 million shares.
Recently, VPBank released its consolidated financial statements for Q3/2019 with prosperous business results. Specifically, VPBank’s pre-tax profit for Q3/2019 reached 2.856 trillion dong, increasing by 63 percent over the same period last year. Credit was the primary growth driver of VPBank, bringing 7.976 trillion dong in net interest income last quarter, rising by 33 percent.
Meanwhile, services earned 708 billion dong in net profit, surpassing by 77 percent. Trading of securities and investment securities respectively recorded 145 billion dong and 200 billion dong of net interest, 3.5 times and 2.7 times higher than Q3/2018. On the contrary, the foreign exchange business recorded a net loss of 81.4 billion dong. Along with that, other activities earned 548 billion dong of net profit, which declined by 37 percent.
Overall, in the last quarter, VPBank’s total operating income reached 9.501 trillion dong, an increase of 25 percent. Notably, operating expenses increased insignificantly, only 0.6 percent, reaching 3.122 trillion dong.
Ending Q3/2019, VPBank recorded 6.379 trillion dong in net profit, an increase of 42 percent over the same period last year. After deducting provision expenses, profit before tax reached 2.856 trillion dong, increasing by 63 percent.
In nine months, the bank’s profit before tax was 7.199 trillion dong, increasing by 18 percent.
