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VPBank (VPB) buys back 50 million shares

Oct 25th at 07:39
25-10-2019 07:39:55+07:00

VPBank (VPB) buys back 50 million shares

Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) has purchased back 50 million shares, according to the the Ho Chi Minh Stock Exchange (HoSE).

 

VPBank (VPB) spent VND1.1 trillion (US$47 million) to buy the shares.

VPBank's leaders said that the purchase aims to stabilise VPBank's stock price.

The credit segment contributed VND7.97 trillion to the net profit of VPBank in Q3, up 33 per cent.

Meanwhile, the service segment contributed VND708 billion to the net profit, up 77 per cent.

On the contrary, the foreign exchange segment recorded a net loss of VND81.4 billion.

In Q3, VPBank recorded VND6.37 trillion in net profit, an increase of 42 per cent over the same period last year. After deducting provision expenses, pre-tax profit reached VND2.85 trillion, up 63 per cent.

In 9 months, the bank's pre-tax profit was VND7.19 trillion, up by 18 per cent.

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