Unlisted local commercial banks must consider a raft of matters if they are to list by 2020 under the latest government scheme. Illustrative photo The Maritime Commercial Joint Stock Bank (MSB) unveiled a plan at its recent annual general meeting (AGM) in Hanoi to list its shares on the Ho Chi Minh Stock Exchange (HSX) in the third quarter of this year. General Director Huynh Buu Quang said the bank’s Board of Directors has been completing procedures for its initial public offering (IPO) and listing. Other local commercial banks such as An Binh Bank (ABBank), Oriental Commercial Bank (OCB), and Nam A Bank have also sped up efforts to list shortly. Pushing ahead All Vietnamese commercial banks must list by the end of next year under a scheme approved by Prime Minister Nguyen Xuan Phuc on restructuring the local stock and insurance markets by 2020 with a vision towards 2025. Lenders can choose HSX, the Hanoi Stock Exchange (HNX), or the Unlisted Public Company Market (UPCoM). There are currently 14 unlisted banks, with only 17 out of a total of 31 having done so. Of the leading banks, Vietcombank, BIDV, VietinBank, HDBank, and VPBank are listed on HSX, while three… Read full this story
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