Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.


We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

Join Us for Dinar Discussions and More -- We Keep it REAL
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email: ksd_murguia_chambers@ksd.uscourts.gov
PHONE - 913-735-2340

DA's email: Scott.Rask@usdoj.gov
PHONE - 913-551-6730

Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Post new topic   Reply to topic
Share | 

 VIETNAM Eximbank takes control of Sacombank board

Go down 
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 35
Location : Planet far far away

PostSubject: VIETNAM Eximbank takes control of Sacombank board   Tue May 15, 2012 12:52 pm

Eximbank takes control of Sacombank board

VietFinanceNews.com - Eximbank (EIB) has invested about VND1.6 trillion (US$76.2 million) in Sacombank (STB) and will control Sacombank's board of directors, Eximbank chairman Le Hung Dung said on Sunday at the EIB shareholders meeting.

EIB currently holds 9.73 per cent of equity in STB, and Dung said EIB had received authorisation from other shareholders representing a total of 53 per cent of STB's charter capital.

At Sunday's meeting, EIB shareholders also approved the dismissal of Pham Huu Phu from his post as a member of Eximbank's board for the 2010-15 term and nominated him for election to the STB board at the latter bank's shareholders meeting on May 26.

EIB also passed its business plan for this year, under which its charter capital would be increased 9.7 per cent to VND13.6 trillion ($645 million). At the end of the year, total assets would total VND210 trillion ($10 billion), an increase of 4 per cent over the previous year, while deposits would be up 37 per cent to VND100 trillion ($4.76 billion). The bank expected credit growth of 17 per cent to a total of nearly VND87.36 trillion ($4.16 billion), while pre-tax profits would rise 13 per cent to VND4.6 trillion ($219 million).

In response to shareholder concerns that the pre-tax profit target was too low, Dung said the figures were based on market conditions which remained very difficult at this time.

The central bank has put a cap on lending interest rates, and the lending rate was gradually declining, causing bank profit to shrink, added EIB general director Truong Van Phuoc.

This year, EIB also plans to pay a 21.2-per-cent dividend, of which 11.2 per cent would be paid in cash. Last year, Eximbank paid a 14-per-cent cash dividend and expects to pay an additional 5.3 per cent on last year's undistributed profits.


Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant

Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty
Back to top Go down
View user profile
VIETNAM Eximbank takes control of Sacombank board
Back to top 
Page 1 of 1

Permissions in this forum:You can reply to topics in this forum
Post new topic   Reply to topicJump to: