Vietbank listed on HoSE, capitalization of more than 14,000 billion VND

More than one billion VBB shares of Vietbank traded in the first session on HoSE, maintaining above the reference price even though the general market and many bank stocks went down.

On July 14, more than 1.08 billion VBB shares of Vietnam Thuong Tin Bank (Vietbank) traded on the Ho Chi Minh City Stock Exchange (HoSE).

VBB’s reference price on the first day of listing was 13,300 VND per share with a fluctuation range of 20%. With nearly 1.08 billion listed shares, Vietbank’s capitalization when listed reached about 14,400 billion VND.

In the first hour of trading, VBB opened at 15,100 VND per share, nearly 14% higher than the reference price. After that, VBB shares retreated to around 13,500 VND but still increased nearly 2% in the context that VN-Index sometimes decreased about 1% and most banking codes traded below reference.

 

Mr. Duong Nhat Nguyen, Chairman of Vietbank received the listing decision from Mr. Trinh Son Hong – Acting Chairman of Ho Chi Minh City Stock Exchange. Image: Vietbank

Previously, on June 29, Vietbank completed the cancellation of VBB stock trading registration on UPCoM to switch to listing on HoSE. In the last trading session on UPCoM, VBB closed at 13,700 VND per share, up 45% compared to the beginning of the year and 58% higher than the bottom in mid-March.

Mr. Nguyen Huu Trung, Vice Chairman of the Board of Directors of Vietbank, said that listing on HoSE is a milestone in the bank’s development process, aiming to improve governance quality, transparency and create long-term value for shareholders.

In parallel with the exchange change, Vietbank plans to increase its charter capital to VND 15,548 billion.

In the first 6 months of the year, Vietbank reported pre-tax profit of 923 billion VND, up 79% over the same period last year. The bank’s net interest income is nearly 1,750 billion VND, an increase of 26%. By the end of June, the bank’s total assets exceeded VND 205,000 billion, an increase of more than 4% compared to the beginning of the year; Loan balance is nearly 120,300 billion VND, an increase of 11%; Customer deposits reached 132,369 billion VND, an increase of more than 5%.

This year, Vietbank sets a pre-tax profit target of VND 2,100 billion. Total asset growth is expected to be 17%, credit will increase by more than 23%, capital mobilization will increase by 24% and control the bad debt ratio below 2.5%.

Vietbank is the 22nd bank listed on HoSE. Previously, KienlongBank and VietABank also moved from UPCoM to this exchange. It is expected that on July 21, BVB shares of BVBank will also start trading on HoSE.

By Editor

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