The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) will issue 200,000 non-convertible, non-guaranteed ten-year bonds, worth 2 trillion VND (88.04 million USD) this week.
The commercial bank announced last week that the bonds will be offered at 10 million VND (440 USD) each with a floating interest rate.
Investors are required to purchase at least ten bonds, equivalent to 100 million VND, 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 8.57 trillion VND (377 million USD) and a total asset of 948.7 trillion VND (41.74 billion USD) in 2016. Its Return on Equity (ROE) and Return on Assets (ROA) were estimated at 11.8 percent and 1 percent, respectively.
In the first half of this year, its pre-tax profit grew 12 percent, fulfilling 54 percent of the bank’s yearly target.