Several individuals and companies related to Hoan Cau Group and Nam A bank are possessing hundred million shares of Eximbank – a national bank having twice higher asset scale Nam A bank’s.
Last week, Eximbank appointed Former CEO of Nam A Bank Luong Thi Cam Tu as its new Chairwoman, in place of the former Chairman Le Minh Quoc, which is effective since 22nd March.
In addition, numerous employees related to Nam A Bank have joined Eximbank’s Executive Board since 2005, after Nam A bank announced its intention to invest in other banks.
At Eximbank’s extraordinary Annual General Meeting in 2015, two individuals related to Nam A Bank (Ms. Pham Thi Phuong Mai and Mr. Tran Ngoc Dung) were voted to be the members of Eximbank’s Supervisory Board.
Moreover, two leaders of Nam A Bank (Mr. Tran Ngo Phuc Vu and Mr. Tran Ngoc Tam) were also nominated for the new term of Eximbank’s Board of Management. Surprisingly, when the conference took place, they were not in the electoral list.
Apart from arranging Nam A bank’s employees into Eximbank’s Executive Board, numerous individuals and organizations related to Hoan Cau Group and Nam A Bank own a large number of Eximbank’s shares.
Based on Eximbank’s document in 2015, a group of Eximbank’s shareholders possessing approximately 22% of Eximbank (equivalent to 260 million shares) nominated candidates related to Nam A Bank for Eximbank’s Board of Management and Supervisory Board.
Recently, this shareholder group still holds millions of Eximbank’s shares. Interestingly, the majority of these shares are mortgaged at Nam A Bank as collateral for loans.
In detail, Hoa Vu Saigon Company – a well-known copyright holder of Miss Universe Pageant in Vietnam, uses over 12 million Eximbank’s shares as security assets at Nam A Bank. Plus, Mr Nguyen Van Hoang – CEO of Hoa Vu Saigon Company holds a 50% stake in Rong Thai Binh Duong Company – the biggest shareholder of Nam A Bank.
Besides, Ms Nguyen Thi Kim Phuong – shareholder of the remaining 50% of Rong Thai Binh Duong Company has owned Eximbank’s shares and mortgaged at Nam A Bank.
On 24th January, Mr Duong Tien Dung who used to hold 80% of Rong Thai Binh Duong Company used 11.5 million Eximbank’s shares as security assets at Nam A Bank.
Additionally, Mr Nguyen Van Hoang – CEO of Quoc Anh NT Company mortgaged nearly 14 million Eximbank’s shares at Nam A Bank.
In mid-February, Rong Ngoc Company – founded by Duong Truong Thien Ly – wife of Nam A Bank’s chairman, registered 14 million Eximbank’s shares as collateral for debt obligations at Nam A Bank.
Apart from Rong Ngoc Company, Thien Ly also holds most shares of Hoang Gia DL Company which owns and operates Hoan Cau Group’s hotels and golf course in Da Lat. This company holds 4.4 million Eximbank’s shares which is mortgaged at Orient Commercial Joint Stock Bank (OCB)
On the other hands, OCB also gets mortgage of millions Eximbank’s shares from Ms. Nguyen Thi Kim Phuong (pledged 8 million shares), Mr. Duong Tien Dung (pledged 7.1 million shares) and Thien An Sai Gon Company (pledged 10.3 million shares)
Remarkably, the majority of Eximbank shares held by the shareholder group related by Nam A Bank and Hoan Cau Group are managed by Bao Minh Stock Company (BMSC) – a stock company that Rong Ngoc Company and Duong Tien Dung are investing in.
At the end of 2018, BMSC held approximately 15.5 million Eximbank’s shares which are worth VND 217 billion. Meanwhile, Nam A Bank offered VND 150 billion to BMSC through bond investment form.
Currently, the total assets of Nam A Bank reach VND 75 trillion (increased 40% compared to last year). The total assets of this bank outstrips that in small-scaled banks like KienLong Bank, VietCapital Bank, BaoVietBank or Saigon Bank.
In the last 3 years, this bank’s loan portfolio surged 2.5 times (from VND 20 trillion to VND 50 trillion at the end of 2018). In detail, personal loans took up approximately VND 15,8 trillion. Nam A Bank’s loan portfolio concentrates on 3 main categories: Accommodation and catering service, retail wholesale and Consumer product production.
Source: The Leader