Banks drive momentum as listings heat up on central stock exchanges

Banks drive momentum as listings heat up on central stock exchanges

Banks are moving forward with plans to list on central exchanges from now through early 2026, fuelling renewed investor interest amid a market rebound.

Early this month, the Ho Chi Minh Stock Exchange (HSX) announced the listing of VietABank (VAB).

Over 539.96 million VAB shares will begin trading on the HSX from July 22, with a reference price of approximately $0.57 apiece.

VAB shares were first traded on the unlisted public company market (UPCoM) in July 2021. In its final UPCoM session, the stock closed at $0.61, up more than 60 per cent compared to the outset of 2025 and setting a three-year record.

The HSX debut marks a new milestone for VietABank, making it the 21stcommercial lender with listed shares in Vietnam. The index currently hosts 18 bank tickers, while the Hanoi Stock Exchange (HNX) lists two tickers (BAB and NVB).

In Q1, VietABank reported post-tax profit of $11.72 million, up 44 per cent on-year. Total assets reached $5.16 billion, up 7.7 per cent from the beginning of the year. The bank has set a 2025 pre-tax profit target of $52.2 million, a 20.3 per cent increase over 2024's target.

Meanwhile, the board of directors at VietBank (VBB) has approved a plan to list its shares on the HSX, with the latest expected completion timeline by Q1, 2026. The exact timing will be determined based on regulatory approvals and market conditions.

During its 2025 AGM on June 26, VietBank's leadership mentioned its 2024 shareholders' resolution to pursue an HSX listing once the market outlook improves.

However, due to the unfavourable economic and stock marketconditions in 2024, listing was considered too risky at that time.

VietBank now targets a 2025 or early 2026 timeline for its listing to optimise share valuation.

In Q1, VietBank recorded a post-tax profit of $7.92 million, 3.4 times higher than the previous year. As of July 14, VBB shares were trading at $0.44 apiece on UpCoM, up 39.5 per cent from the outset of 2025.

At its AGM in late April, KienlongBank (KLB) shareholders approved a plan to list on the HNX. Bank executives said the move aims to enhance transparency, operational performance, and competitiveness.

While the bank is expediting preparations, the listing remains subject to approval from relevant state management agencies. KienlongBank targets completion by Q4.

Similarly, in April, BVBank (BVB) shareholders resumed approval for a plan to transfer the bank's listing from UPCoM to the HSX.

The was first approved at the bank's AGM in 2024, but poor market conditions delayed the process. With an economic recovery in sight and improved stock market sentiment in 2025, the bank's leadership is moving forward with the proposal.

Amid the stock market recovery and multiple bank listing announcements, private bank shares have posted impressive gains. National Citizen Bank has seen a 73 per cent jump from the outset of 2025, while VAB is up 63 per cent, and KLB and SHB have each climbed over 56 per cent.

The recent resurgence of bank stocks, commonly known as 'king stocks', is being fuelled by expectations of credit limit removal and the legislation of Resolution 42 on non-performing loan resolution.

According to major credit rating agency VIS Rating, retail-focused banks such as ACB, HDB, OCB, VIB, VPB, and MBB are poised to benefit directly from the new law, which streamlines collateral asset disposal, eases provisioning pressure, and boosts return on assets. Furthermore, strong first-half earnings reports are also contributing to renewed investor optimism in the banking sector.

VIR