Vice president of Ho Chi Minh Development Joint Stock Commercial Bank (HDBank) Nguyen Thi Phuong Thao said that the bank would sell 20 per cent stake worth US$300 million to foreign investors this year.
The bank expects to attain US$300 million in this issuance, before listing its shares on the Hochiminh Stock Exchange (HOSE) next year. Goldman Sachs, a leading global investment banking, securities and investment management firm, has been hired by HDBank as the consultant for this deal.
"We are aiming at 70 per cent of Vietnam's population who have not used banking services and targeting to become Vietnam's number one retail bank in the next five years," Thao said.
She said that the abovementioned 20 per cent stake in HDBank would be sold to some foreign investors, with each investor owning the maximum of five per cent stake. Potential investors are those coming from Hong Kong, Japan, and South Korea.
This year, HDBank expects to gain VND2.4 trillion (roughly US$105.8 million) in pre-tax profit which is forecasted to rise sharply to VND3.9 trillion (roughly US$172 million) in 2018.
According to HDBank’s report for the first nine months of this year, it attained nearly VND2 trillion (roughly US$88.2 million) in pre-tax profit, a threefold increase compared to the same period of last year. The total assets of the bank reached more than VND174 trillion (roughly US$7.67 billion).
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