What's happening with Eximbank stock?

In the morning session of October 14, Eximbank shares decreased from 19,150 VND to 18,000 VND.

At 11am, many banking stocks fell in price. Most notably, the stock code of Vietnam Export Import Bank (Eximbank) was sold off by investors.

As a result, Eximbank shares decreased from VND19,150 to VND18,000/share (-5.76%), trading volume reached more than 25 million shares.

Mr. CTC, a shareholder of Eximbank, said that early on October 14, the market received rumors that Eximbank's Board of Supervisors had sent a written petition and report to the authorities about the bank's unsafe lending practices.

"This information may have made many people worry that Eximbank shares will fall even more. Holding this stock code will be risky, leading to a sell-off. Even I am worried and have sold thousands of Eximbank shares at a loss at 18,000 VND" - Mr. CTC said.

Speaking to the press, an Eximbank leader said the bank has checked and up to this point has not received any petitions or complaints related to lending activities from Eximbank's Supervisory Board.

Regarding Eximbank, one of the major changes that this bank plans to make in the near future is to move its current headquarters to another location.

Specifically, Eximbank will hold the extraordinary General Meeting of Shareholders (AGM) in 2024 on November 28 in Hanoi but has not announced the specific location. At the same time, the new location chosen as the new headquarters has not been mentioned by Eximbank.

Previously, at the annual general meeting of shareholders in April 2024, Eximbank submitted a proposal to move its headquarters from the 8th floor of Vincom Center building, 72 Le Thanh Ton, Ben Nghe ward, District 1, Ho Chi Minh City to the Office building (Fideco Center) at 28 Phung Khac Khoan, Da Kao ward, District 1, Ho Chi Minh City. However, this proposal was not approved by the general meeting of shareholders.

The changes at Eximbank arose after the new shareholder - Gelex Group Corporation (a company headquartered in Hanoi) became a major shareholder of the bank - with a 10% stake.

In addition to Gelex, according to the list as of August 13, Eximbank also has shareholders holding more than 1% of capital, including: VIX Securities JSC holding 62.3 million shares, equivalent to 3.58% of charter capital; Ms. Le Thi Mai Loan holding 17.9 million shares, equivalent to 1.03% of capital and Ms. Luong Thi Cam Tu holding 19.5 million shares, equivalent to 1.12% of capital.

Several members of Eximbank's Board of Directors were once leaders of businesses located in the Northern region.

Source: https://nld.com.vn/co-phieu-eximbank-bat-ngo-bi-ban-thao-dieu-gi-dang-xay-ra-196241014115005438.htm