Do Anh Tuan of KienLong Bank

The appearance of a big shareholder – a real estate firm – is supporting the bank's shares.

KienLong Bank’s board of management has taken some important moves, including the appointment of two additional members of the board of management – Do Anh Tuan and Vo Thi Tuan Anh.

The appointment was made following a big change in the shareholder structure with the appearance of a major company in the real estate sector – Sunshine Group.

Do Anh Tuan, born in 1975, is chair of Sunshine Group, chair of Sunshine Homes, chair of KSG, and chair of Smart Construction Group (SCG).

Vo Thi Tuan Anh is Vietnam Director of Sakae Holdings Singapore, Vietnam Director of Sakaeo Advisory, Chair of Newtechco Group, Marketing and Business Development Director of Harveston.

KienLong Bank has also approved the resignation of the members of board of management Le Khac Gia Bao and Do Thi Thu Hang.

The logo of KSBank on the headquarters of Sunshine Group in Hanoi and on the website of the group. KSB is the digital banking brand launched by KienLong Bank recently.

A high-ranking manager of Sunshine Group has recently become chair of the board of management of Vietnam Gateway Securities. The company has been renamed as KS Securities and moved its head office to Sunshine Center Hanoi.

With these activities, KienLong Bank shares have seen prices increasing steadily.

On April 19, KLB share price rose by 4.6 percent to VND24,900 per share after the 2 percent increase in the last trading session of the previous week. As such, KLB price went up by 38 percent over the last month.

Sunshine Group is a well known real estate developer with many projects throughout the country, namely Sunshine Center, Sunshine City and Sunshine Empire in Hanoi; Sunhine Marina Nhatrang Bay (Nha Trang); and Sunshine City Sai Gon (HCMC).

Just within the last four years, Sunshine Group’s charter capital increased by 30 times to VND8.5 trillion, while stockholder equity reached VND17 trillion by mid-2020. Its total assets had reached VND44 trillion, higher than the majority of listed real estate firms, just less than Vinhomes of billionaire Pham Nhat Vuong and Novaland of Bui Thanh Nhon.

In late 2020 and early 2021, KienLong Bank reported a series of large-scale put-through transactions worth trillions of dong. KLB share prices soared from VND11,300 per share on October 1, 2020 to VND25,000.

KienLong Bank’s board of management hopes that new members will help the overall strategic transformation in 2021-2030 to turn the bank into one providing services on a digital platform. 

V. Ha

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