SeABank registers to list on HoSE

SeABank has registered to list its shares on Vietnam’s main bourse Ho Chi Minh City Stock Exchange (HoSE) following recent similar moves by local lenders.

Employees and a customer are seen at a SeABank branch. Photo courtesy of SeABank.

The lender, formally known as Southeast Asia Commercial Joint Stock Bank, wants to list its 1.2 billion shares on the bourse, equivalent to a charter capital of VND12 trillion ($520 million), the exchange stated.

SeABank shares on the over-the-counter market are being traded at around VND14,400 (62 U.S. cents) apiece.

Its pre-tax profit in the first nine months rose 65 percent to VND1.13 trillion, while its non-performing loan ratio by the end of September was roughly the same as the beginning of the year at 2.2 percent.

This is the seventh bank to register or be approved to list on HoSE this year, with the others being Orient Commercial Joint Stock Bank (OCB), Vietnam Maritime Commercial Joint Stock Bank (MSB), Vietnam International Commercial Joint Stock Bank (VIB), Asia Commercial Bank (ACB), Lien Viet Post Joint Stock Commercial Bank (LPB), and Saigon – Hanoi Commercial Joint Stock Bank (SHB).

Vnexpress