Many banks planning move to HoSE
The Ho Chi Minh Stock Exchange's headquarters in HCM City.
Banks, including VietBank (VBB) and Việt Capital Bank (BVB), are expected to transfer from UpCOM exchange to the Ho Chi Minh City Stock Exchange (HoSE).
The plans were approved at their recent General Meeting of Shareholders.
Nguyen Huu Hữu Trung, general director of Vietbank, said that the listing of VBB shares on the stock market can prove its transparency and strengthen its operational capabilities to achieve the strategic objectives from 2023 to 2025.
This year, Vietbank targets profit before tax of 960 billion VND (40.9 million USD), an increase of 46% year on year. Total assets are estimated to rise 12% to 125 trillion VND.
Vietbank also plans to raise capital by over 1 trillion VND by issuing shares at a rate of 21% to current shareholders. After the issuance, the bank's charter capital is expected to increase from 4.77 trillion VND to 5.78 trillion VND.
Meanwhile, Viet Capital Bank's shares will be listed on HoSE after two years of trading on UpCoM. This will enhance trading conditions for shareholders while also taking a significant step toward the future.
The bank aims to achieve a total assets of 86.6 trillion VND, up 10%, with capital mobilisation from residents and economic organisations, excluding credit institutions, up 16% to more than 69 trillion VND.
ABBank has also proposed to list shares on another trading floor to shareholders for approval.
ABBank expects profit before tax to rise significantly by 68% from 2022 to 2.8 trillion VND this year. Its total assets are forecast to advance 5% to 136.8 trillion VND. The bank hopes to mobilise from people and organisations a value of 93.5 trillion VND, a gain of 2%.
At the General Meeting of Shareholders last year, Nam A Bank requested shareholders to approve its listing plan; however, due to market circumstances, this plan was postponed to protect shareholders' interests.
Until now, there are 17 banks with shares listed on HoSE, two banks having shares listed on HNX, eight banks trading on UpCOM, and three banks trading on OTC. Securities expert Huy Nam said that the switch from UPCoM to HoSE will raise the transparency and governance standards of banks in the market./.
Related News
Banks increase non-interest revenue
10:51 | 23/11/2024 Finance
A “picture” of bank profits in the first nine months of 2024
09:42 | 19/11/2024 Finance
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
Stipulate implementation of centralized bilateral payments of the State Treasury at banks
09:29 | 29/10/2024 Finance
Latest News
Launching virtual assistants to support taxpayers
17:50 | 23/11/2024 Finance
Monetary policy forecast unlikely to loosen further
15:51 | 22/11/2024 Finance
World Bank outlines path for Vietnam to reach high income status
13:44 | 22/11/2024 Finance
Strictly control public debt and ensure national financial security 2025
09:26 | 22/11/2024 Finance
More News
Revising the title of a draft of 1 Law amending seven finance-related laws
14:33 | 21/11/2024 Finance
Transparency evates the standing of listed companies
09:47 | 21/11/2024 Finance
State-owned securities company trails competitors
14:46 | 20/11/2024 Finance
Strengthening the financial “health” of state-owned enterprises
09:23 | 20/11/2024 Finance
U.S. Treasury continues to affirm Vietnam does not manipulate currency
13:46 | 19/11/2024 Finance
Exchange rate fluctuations bring huge profits to many banks
13:43 | 19/11/2024 Finance
Many challenges in restructuring public finance
10:02 | 18/11/2024 Finance
Tax declaration and payment by e-commerce platforms reduces declaration points and compliance costs
09:19 | 17/11/2024 Finance
Disbursement of public investment must be accelerated: Deputy PM
19:32 | 16/11/2024 Finance
Your care
Launching virtual assistants to support taxpayers
17:50 | 23/11/2024 Finance
Banks increase non-interest revenue
10:51 | 23/11/2024 Finance
Monetary policy forecast unlikely to loosen further
15:51 | 22/11/2024 Finance
World Bank outlines path for Vietnam to reach high income status
13:44 | 22/11/2024 Finance
Strictly control public debt and ensure national financial security 2025
09:26 | 22/11/2024 Finance