Agribank puts financial leasing company ALC I up for sale

By Minh An - Nov 09, 2017 | 06:37 AM GMT+7

TheLEADERALC I has the charter capital of VND200 billion (roughly US$8.8 million) and mainly operates in the financial leasing field.

Agribank puts financial leasing company ALC I up for sale

On November 7th, Vietnam Bank for Agriculture and Rural Development (Agribank) announced the sale of its financial leasing company ALC I.

Agribank, which owns all of ACL I’s shares, said the move follows the order of the State Bank of Vietnam.

The bank will receive the subscription from the qualified investors until December 15th, 2017.

Agribank has two financial leasing companies, ALC I in Hanoi and ALC II in Ho Chi Minh City. ALC II has the charter capital of VND350 billion (about US$15.4 million).

However, these companies are reported to be ineffective. According to the 2016 financial statement of Agribank, its original investment in ALC I was VND172 billion (about US$7.6 million) and in ALC II was VND294 billion (nearly US$13 million).