Vietnam’s NamABank plans to list on stock exchange

Visual from Nam A Bank website

South Asia Commercial Bank, or NamABank, is planning to list on the secondary market this year, according to a regulatory filing done by the bank.

“Listing will help create more investment opportunities and increase the benefits for our shareholders,” the bank, that is traded over-the-counter, said in a statement.

According to the bank, its operations meet the listing standard of the stock exchange and so plans to seek official approval from the State Bank of Vietnam to list in the market.

For expansion, the Ho Chi Minh City-based lender plans to raise its charter capital to VND4 trillion ($186 million) from the current VND3 trillion ($139.5 million), and at the same time open nine more branches and transaction offices.

NamABank expects its total asset (by the end of the year) will rise 7 per cent over 2014 to VND40 trillion ($1.86 billion), and profit for the year will reach VND360 billion ($16.7 million), jumping 49 per cent.

In addition, the bank has accepted the resignation of its board member Tran Ngo Phuc Vu, who will be joining as key executive in the Vietnam Export Import Bank (Eximbank) during its forthcoming annual meeting.

Late last year, when the rumours about the merger of two banks were doing rounds, NamABank has stated that though it intended to acquire another bank, the targer was not yet decided.

However, the possible changes in leading personnel in both the banks might indicate that the two banks are looking at a merger, soon.

Also read: Nam A Bank top executives to join Eximbank

Vietnam consolidates banks to form regional lenders

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.