Nine individuals own 18% of private lender BVBank

Viet Capital Commercial Joint Stock Bank (BVBank) has nine individuals holding at least 1% of its charter capital as of July 30, 2024, according to the private bank’s report.

In total, these individuals own nearly 18% of the bank. BVBank, registered on the Unlisted Public Companies Market (UPCoM) as BVB, reported no shareholder or group of shareholders holding a stake of over 5%.

The largest shareholder is vice chairwoman Nguyen Thanh Phuong, who owns 22.8 million shares, or nearly 4.56% of the charter capital.

Those related to Phuong, including Tran Thanh Kiem, Nguyen Hoang Bao, Viet Capital Asset Management JSC, Viet Capital Real Estate Joint JSC, Vietcap Securities JSC, Phoenix Holdings Company Limited, and Good Day Hospitality JSC do not own shares in this bank, it reported.

The second largest shareholder is board member and CEO Ngo Quang Trung who holds 15.6 million shares, or 3.12%. Trung's related persons also do not own BVB shares.

Board chairman Le Anh Tai came third with a 2.86% stake. Board member Nguyen Nhat Nam and related people hold more than 2%, while deputy CEO Nguyen Thanh Tu and related persons own 2.11%.

Deputy CEOs and chief accountants, including Phan Viet Hai, Le Van Be Muoi, Van Thanh Khanh Linh and Ly Cong Nha, each own about 1-1.5%.

Previously, BVBank had announced a list of 9,514 shareholders with the right to attend its 2024 AGM on March 19. The meeting recorded the attendance of 95 shareholders and authorized persons, corresponding to 79.98% of voting shares.

The development of BVBank once had the imprints of tycoon Tram Be and motorbike maker Hoa Lam Group.

This bank used to have Saigon NIC, an urban area developer with many connections to Tram Be, as a major institutional shareholder. Saigon NIC used to own up to 40.86 million BVB shares, or 12.88% of BVBank’s charter capital as of February 18, 2020.

From December 29, 2021 to March 9, 2023, this company sold a total of 22.66 million BVB shares, reducing its ownership to 4.96%.

Saigon NIC once used the 40.86 million BVB shares as collateral for a debt of Phuong Nghi Co., Ltd. at Sacombank since September 2012.

Another legal entity, Dien Phat Land, which was linked to Hoa Lam Group, also used 20.55 million BVB shares, or 6.48% of BVBank's charter capital, as collateral for a bond package worth VND770 billion ($30.53 million) issued in July 2020.

However, the list of shareholders holding more than 1% of BVB's charter capital did not feature the above-mentioned institutional shareholders.

According to the Q2/2024 financial statement, BVBank was still in the group of banks with assets of less than VND10 trillion ($396.43 million). As of June 30, this bank's loan balance reached nearly VND59.6 trillion ($2.36 billion), up 3.1% against the beginning of the year. The bad debt ratio was 3.77%, up from 3.31% at the year outset.

In the first half of 2024, the bank’s net profit from business activities hit nearly VND442 billion ($17.52 million), 3.2 times higher than the same period last year.

After setting aside nearly VND289 billion for risk provisioning, BVBank reported pre-tax profit of VND153 billion ($6.07 million), 3.8 times higher year-on-year, fulfilling nearly 77% of its year plan.