Lender share price soars on HOSE listing

Thursday, Dec 24, 2020 14:05

More than 1.17 billion shares of the Vietnam Maritime Commercial Joint Stock Bank were officially listed on the Ho Chi Minh Stock Exchange on December 23. — Photo courtesy of the bank

Vietnam Maritime Commercial Joint Stock Bank listed more than 1.17 billion shares on the Ho Chi Minh Stock Exchange (HOSE) on December 23 and saw them gain more than 17 per cent on the opening day.

The share listed at a preference price of VND15,000 and was allowed to fluctuate by 20 per cent on either side.

Speaking at the listing ceremony, Nguyen Hoang Linh, general director of MSB, said the listing would open a new path for sustainable and comprehensive growth.

The lender had a pre-tax profit of VND 2.3 trillion (US$98.9 million) in the first 11 months of this year, a year-on-year increase of 116 per cent and 60 per cent higher than the full-year target.

MSB posted a 12.2 per cent year-on-year increase in total assets, which reached VND165 trillion ($7.1 billion).

It has over 2.2 million individual customers and 54,000 corporate customers. It targets an annual growth rate of 30 per cent to become one of the banks with the highest profitability in Viet Nam.

At the ceremony, a HOSE official said listing would bring the bank many advantages such as access to capital and enhancing its reputation and brand value. — VNS

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