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Eximbank seeks to pay dividends after 7 years

By Quynh Trang   April 8, 2021 | 07:05 pm PT
Lender Eximbank has sought approval from the State Bank of Vietnam to pay a dividend of VND1,800 ($0.07) per share for 2020.
An Eximbank branch in Ho Chi Minh City. Photo by VnExpress/Thanh Di.

An Eximbank branch in Ho Chi Minh City. Photo by VnExpress/Thanh Di.

The bank sold its bad debts to the state-owned Vietnam Asset Management Company (VAMC) in 2015 against bonds on the condition it is not allowed to pay dividends until the bonds are fully redeemed.

According to documents it has circulated among shareholders, it redeemed the last of the bonds on March 30.

The last time it paid dividends was for 2013.

In 2020, it was the only lender in Vietnam to see outstanding loans fall (by 10 percent), but pre-tax profits rose by over 20 percent to VND1.34 trillion as it managed to cut operating costs.

 
 
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