Vietnam’s Maritime Bank reports one individual, 10 institutional shareholders with at least 1% stake

Vietnam’s Maritime Bank (MSB) says it now has one individual and 10 institutional shareholders with ownership ratios of 1% or higher.

A new report released by the bank does not mention the ownership ratio of chairman Tran Anh Tuan and his relatives. At the end of 2023, he held 16.8 million MSB shares, equivalent to a 0.8% stake, and no one in his family held MSB shares.

The only individual holding more than 1% of Maritime Bank’s charter capital is Nilesh Ratilal Banglorewala, 59, who owns 66.5 million MSB shares, or 3.32% of the bank's charter capital. Banglorewala served as division director at Maritime Bank and was also a board member of PGBank.

The state-run Vietnam Posts and Telecommunications Group (VNPT) is currently the largest institutional shareholder of Maritime Bank with nearly 121 million shares, or a 6.05% stake.

A foreign institutional shareholder, Buenavista Holdings Ltd., holds 2.02%; and Rox Key Holdings JSC (formerly known as TNS Holdings JSC) owns 2.43%. Rox Key Holdings is a member of the multi-industry corporation ROX Group (formerly TNG Holdings Vietnam).

In more than a decade, TNS Holdings has grown strongly with seven member units providing comprehensive services to real estate developers and banks.

ROX Group chairwoman Nguyen Thi Nguyet Huong is the wife of Maritime Bank chairman Tuan.

Others in the list of shareholders holding at least 1% stake in Maritime Bank are Tien An Investment JSC (1.11%); TNL Property Leasing and Investment JSC (1.08%), a TNL-related person (1.66%); ROX Cons Vietnam Construction Investment JSC (1.87%); Ricohomes Investment JSC (2.64%); Bai Dai Resort Company Limited (4.96%); Hanoi Green Tech City Company Limited (4.97%); and Hanoi-Dai Tu Industrial Park Infrastructure Construction and Trading Company (4.98%).

According to the amended Law on Credit Institutions, effective from July 1, 2024, the ownership limit for institutional shareholders (including indirectly owned shares) is reduced from 15% to 10%; and that for shareholders and related persons goes down from 20% to 15%. The list of related people is also expanded under the new law.

Listed on the Ho Chi Minh Stock Exchange (HoSE), MSB closed Friday at VND14,700 ($0.58) per share.