Vietinbank to issue ten-year bonds worth US$88 mln
The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) will issue 200,000 non-convertible, non-guaranteed ten-year bonds, worth VND2 trillion (US$88.04 million) this week.
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Investors are required to purchase at least ten bonds, equivalent to VND100 million, and must register for purchase from October 25 to November 13 this year at the bank’s branches and offices.
Last week, the bank was named in the Top 10 of 500 most profitable companies in Vietnam in 2017 (Profit500) by Vietnam Report and Vietnamnet News.
Vietinbank posted a pre-tax profit of approximately VND8.57 trillion (US$377 million) and a total asset of VND948.7 trillion (US$41.74 billion) in 2016. Its Return on Equity (ROE) and Return on Assets (ROA) were estimated at 11.8% and 1%, respectively.
In the first half of this year, its pre-tax profit grew 12%, fulfilling 54 percent of the bank’s yearly target.