Vietnamese lender MSB owned 34% by 9 major shareholders holding over 1% stake each

A total of 33.69% of Vietnam Maritime Commercial Joint Stock Bank, or MSB, is held by nine institutional shareholders who own an over 1% stake each, according to its updated list of shareholders.

Among the nine, state-owned telco Vietnam Posts and Telecommunications Group (VNPT) owns 157 million shares, or 6.25%. However, VNPT has announced plans to fully divest from MSB by end-2025.

A foreign institutional shareholder, Buenavista Holdings Ltd., holds 61.7 million MSB shares, or 2.37%.

Rox Key Holdings JSC (formerly known as TNS Holdings JSC) owns 63.2 million MSB shares, or 2.43%. Rox Key Holdings is a member of the multi-industry corporation ROX Group (formerly TNG Holdings Vietnam), whose chairwoman is MSB chairman Tran Anh Tuan’s wife Nguyen Thi Nguyet Huong.

In addition, TNL Lease Property and Investment JSC and Rox Cons Vietnam Investment Construction JSC, both under the ROX Group, hold 1.08% and 1.87% of MSB, respectively.

Bai Dai Resort Co., Ltd holds 128.8 million MSB shares, or 4.98%, and Hanoi Green Tech City Company Limited owns 129.2 million MSB shares, or 4.97%. The two share Pham Ngoc Vu as their legal presentative and general director.

The other two major stakeholders in MSB are Hanoi-Dai Tu Industrial Park Infrastructure Construction and Trading Company and Ricohomes Investment JSC with 4.98% each.

Tien An Investment JSC and Nilesh Ratilal Banglorewala, former division director at Maritime Bank, have been excluded from the latest listing of major shareholders.

In the first six months of this year, MSB (HoSE: MSB) posted VND3.69 trillion ($145.25 million) in pre-tax profit, up 4% year-on-year and reaching 54% of the year’s target. Its total assets rose 11% from early this year to VND295.53 trillion ($11.6 billion) as of end-June.

MSB shares closed Friday at VND12,250 ($0.48) each.