SBV pushes commercial banks to be listed on the official market

23-Jan-2021 Intellasia | Nha Dau tu | 6:02 AM Print This Post

Information about the bank shares will be listed in 2021, Tran Van Dung, Chair of the State Securities Commission said, early 2021 supply of the market will be abundant in some commercial banks. The State Bank of Vietnam (SBV) has agreed with the SSC to firmly require banks to go public, no later than in quarter 1/2021. If a bank does not comply, disciplinary action will be taken.

“Certainly, in the first quarter of 2020, all banks have to be listed, except for three banks that are required to acquire by the SBV (OceanBank, CBBank, GPBank)”, Dung said.

The project “Restructuring the stock market and insurance market to 2020 and orientations to 2025″ of the prime minister promulgates the requirements for listing and trading registration of shares of banks. By the end of 2020, all commercial banks will be listed and registered for transactions on the official market or UPCoM.

Previously, the listing requirement for banking shares was also set out in the Vietnam Banking Industry Development Strategy to 2025, with a vision to 2030, approved by the prime minister in August 2018.

The bank listing on the stock exchange is considered an important step towards transparency of operations, long-term development of each bank, and a healthy system. Especially in the context that the prime minister has given a very specific deadline, along with the expectations and expectations of shareholders when bank shares are listed, will help increase prices, increase liquidity, and diversify. In the market, there is no reason for banks to delay listing.

If excluding weak banks that were forced to buy back or under control, especially CBBank, OceanBank, GPBank, DongABank that cannot put shares on the exchange in the near future, there are four banks: SCB, VietABank, PVComBank and BaoVietBank are operating normally but have not listed their shares on the stock exchange.

 

Category: Finance, Vietnam

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