OCB shares ‘undervalued,’ says bank chairman – VnExpress International


OCB shares 'undervalued,' says bank chairman  OCB shares 'undervalued,' says bank chairman - VnExpress International ocb160326250625741603262593 16 7292 8078 1619602770

Inside an OCB branch. Photo courtesy of OCB.


Shares of OCB are undervalued by 25 percent, its chairman Trinh Van Tuan said at the private lender’s annual general meeting Wednesday.

He said his assertion was backed by many stock brokerages that have suggested a price of VND30,000 ($1.3) for the OCB ticker, currently trading on the Ho Chi Minh Stock Exchange (HoSE) at VND24,000.

A private bank usually has a price to earnings (P/E) ratio of 11, while that of OCB is less than 7, he said. The P/E ratio reflects how much investors are willing to pay today for future growth expectations.

OCB listed on the HoSE on January 28 when the market plunged, pulling it down by 20 percent in the first session. The ticker has since recovered by 27 percent.

The bank plans to pay dividends by shares with each shareholder allowed to buy 20-25 more shares for every 100 shares owned.

It also wants to issue 70 million shares via private placements and five million shares to its employees. Several foreign investors have expressed interest in the bank since last year, Tuan said.

The bank’s charter capital is set to rise by 32 percent this year to VND14.45 trillion ($627 million).

Last year, the bank’s pre-tax profit surged 37 percent year-on-year to VND4.42 trillion. It targets a 25 percent credit growth this year, pending approval from the central bank.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

OCB shares ‘undervalued,’ says bank chairman – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF