The Hanoitimes - Under the prime minister’s plan on restructuring the stock market and the insurance market until 2020, with a vision towards 2025, all commercial banks are required to float shares before 2020. As of present, only 18 out of 31 commercial banks have completed listing shares on the stock market, while the 2020 deadline is nearing. Illustrative photo Ten of these banks are currently trading on Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main stock exchange which accounts for over 90% of total market capitalization. The banks include major state-run banks such as Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam JSC Bank for Industry and Trade (VietinBank), and Bank for Investment and Development of Vietnam (BIDV). Meanwhile, three are floating shares on the Hanoi Stock Exchange (HNX), namely Asia Commercial Bank (ACB), Saigon - Hanoi Bank (SHB), and National Citizen Bank. Five banks, including Lien Viet Post Bank (Lien Viet), Vietnam International Bank (VIB), Vietbank, Bac A Bank and Kien Long Bank, are trading shares on the Unlisted Public Company Market (UPCoM), which is considered a transitional step before listing on the two main exchanges. The UPCoM is run by the HNX. Under the prime minister’s plan on restructuring the stock market and the insurance market until 2020, with a vision towards 2025, all commercial banks are required to be listed before 2020. The plan allows banks to list on any of Vietnam’s two official stock exchanges. In 2019, only Vietbank completed the listing on the stock market, which was completed by the end of July on the UPCoM with over 419 million shares, equivalent to registered capital of VND4.19 trillion. Vietnam Maritime Bank (MSB) also applied for listing on the HoSE, but with little progress so far. MSB’s plan for listing was initiated in 2016, after its merging with Mekong Bank. In 2018, dozens of banks issued plans for listing, but only Vietnam Technological and …
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