VietNamNet Bridge – The Bank for Investment and Development of Vietnam (BIDV) plans to sell a 15% stake to a foreign strategic partner and 10% to a foreign financial investor this year.
BIDV deputy director Tran Phuong said the sale of shares to foreign partners was approved at the shareholders’ meeting in early 2015.
The Bank will issue additional shares to sell to the selected investors. The total value owned by foreign investors must not exceed 30% of the bank’s charter capital. The selling price will be determined by the method of negotiation.
BIDV is a commercial bank with the second biggest charter capital in the country’s banking system, reaching more than VND28.1 trillion. The State Bank of Vietnam is the representative of state ownership in the bank, at a rate of 95.76% of charter capital.
In 2014 BIDV obtained VND6.06 trillion of pre-tax profit, growing by 20% over the previous year. Its rate of return on equity (ROE) reached 14.4% and the rate of return on assets (ROA) was 0.8%. The basic earnings per share (EPS) was VND1,700 per unit.
$1 = VND21,000
S. Tung