Vietnam private lender VietABank has 8 major shareholders owning 30% stake

Vietnam’s private lender VietABank has eight major shareholders – four institutions and four individuals – owning over 1% of its charter capital each, accounting for almost 30% in total.

As of October 19, the eight shareholders held a total of 156.8 million shares, accounting for 29.06% of the bank's charter capital, according to the lender, listed on the Unlisted Public Companies Marlet (UPCoM) as VAB.

Viet Phuong Investment Group JSC (VPG), a core entity within the Viet Phuong Group ecosystem led by Phuong Huu Viet, holds the largest number of shares at nearly 66 million for a 12.21% stake. Related persons own 41.1 million shares (7.63%).

Phuong Huu Viet himself holds 24.5 million VAB shares, representing 4.55% of the charter capital.

The 60-year-old Bac Ninh native had become chairman of VietABank in August 2011 after Viet Phuong Group invested and became a major shareholder in the lender. In 2021, he passed this position to Phuong Thanh Long.

Another individual shareholder is Do Thi Ngoc Ha, who holds 5.49 million VAB shares or 1.02% of the charter capital; while persons related to her own a total of 72.7 million shares, equivalent to 13.47%. Coincidentally, the brother of former VietABank chairman Phuong Huu Viet, Phuong Xuan Thinh, has a daughter-in-law named Do Thi Ngoc Ha.

The other two individual shareholders with more than a 1% stake in VietABank are Le Thi Lan (holding 1.32%) and Tran Tien Dung, a board member and deputy CEO of VietABank (1.02%).

Among the institutional shareholders, Cu Chi Commercial & Industrial Developing Investment JSC (Cidico) holds 6.4 million VAB shares, or a 1.2% stake. The chairman of this company, Phan Van Toi, is also vice chairman of VietABank.

Two state-owned institutional shareholders are the Office of the Ho Chi Minh City Party Committee, holding 4.97%, and Saigon Jewelry Company Limited (SJC), 2.77%.

In the first half of this year, VietABank reported pre-tax profits of nearly VND563 billion ($22.31 million), up 6% year-on-year and fulfilling 53% of this year’s target of VND1.06 trillion.

On June 30, the lender’s total assets value stood at VND108.91 trillion ($4.32 billion), down by more than VND3.2 trillion compared to the beginning of the year.

On the UPCoM, VAB closed Friday at VND9,400 ($0.37) per share.