Dragon Capital no longer a major shareholder in Military Bank (MBB)
Dragon Capital no longer a major shareholder in Military Bank (MBB)
A group of investment funds run by Dragon Capital announced Monday it has sold one million shares of Military Bank (MBB), reducing their ownership from 5 per cent to 4.97 per cent and is no longer a major shareholder of the Bank. 
The transaction was conducted on December 2.
In the first nine months of this year, MBB recorded total revenue of VND19.65 trillion (US$845 million), up by 9.4 per cent year-on-year.
Pre-tax profit totaled VND8.1 trillion and after-tax profit reached VND6.6 trillion, up 6.8 per cent and 7.4 per cent against last year, respectively.
In 2020, MBB plans to earn pre-tax profit of VND9.03 trillion, down 10 per cent compared to 2019. However, under favourable market conditions, the Bank will adjust the pre-tax profit plan higher to reach VND10 trillion, equivalent to 2019.
As of September 30, MBB's total assets increased by 4 per cent compared to the beginning of the year, at VND421 trillion. In which, customer loans increased by 7 per cent while provision for loans increased by 50 per cent.
Regarding capital, MBB recorded a slight decrease of 1.3 per cent in customer deposits compared to the beginning of the year.
In terms of loan quality, the bank has a total VND4 trillion in bad debts, an increase of 39 per cent compared to the beginning of the year.
