Vietnam Daily News

Bidv attracts attention from many investors

Written by Dailynews.vn Monday, 12 December 2011 19:44

Bank for Investment and Development of Vietnam (Bidv) held the meeting on December 10, 2011 to introduce the coming initial public offerings (IPO) that was expected to be organised by the end of this month. There were over 500 investors participating in that event. Tran Bac Ha, Bidv's chair announced that after the IPO, the bank would select foreign partners as the strategic shareholders in the bank. He stated that there were 42 financial institutions that showed interest in becoming Bidv's partners. The bank has been worked out the principles for selecting the strategic partners to submit the government for approval in the near future. Bidv expected to finish issuing shares to strategic partners in 2012. As for bad debt ratio, Ha shared that up to November 2011, the bank's bad debt ratio was posted at 2.7 percent. By the end of this year, the ratio would be 2.8 percent, lower than the targeted ratio of 3 percent that was proposed by the bank previously.

Source: www.intellasia.net/news/articles/stock_market/111350535.shtml