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Bank shares now the “aiming points” of investors
The information that commercial banks still could make fat profits in 2011, despite the big difficulties, has prompted investors to inject their money in bank shares. The latest information about the interest rate reductions in some more days has, once again, urged investors to hunt for bank shares.
Of the bank shares listed on the Hanoi and HCM City bourses, HBB shares of Habubank has become the “aiming point” of investors in recent days. HBB price has surged from 4000 dong per share to 7500 dong just after two weeks. The HBB trading volume has surprisingly increased, with a new record made when 40 million HBB were traded just within one trading session.
The shares of other banks have also seen steady price increases. SHB, for example, has seen the prices jump from 6000 dong per share in early 2012 to 11,000 dong per share now. The bank has announced some programs to develop banking services, with which it hopes to attract more clients.
VCB shares of Vietcombank have also become more and more expensive. In early 2012, the shares were traded at 19,000 dong per share, while the price has climbed to 28,000 dong.
Vietcombank is preparing for the shareholder’s meeting to take place in early April. Meanwhile, there are a lot of “good pieces of news” about the bank, including the cooperation with the foreign strategic shareholder Mizuho Corporate Bank from Japan, the additional listing of state owned shares on the bourse, and the plan to set up some subsidiaries.
CTG of Vietinbank has experienced a sharp price increase wave. In late December 2011, CTG was traded at around 16,000 dong per share, while they are selling at 27,000 dong per share now.
The business plans announced recently by Vietinbank shows that it is making a heavy investment to develop banking services. Vietinbank’s President Pham Huy Hung has said that banking services would bring 12-15 percent of the total turnover in the future instead of the current level of 8 percent.
On March 7, Vietinbank marketed two new products in the banking service sector – international debit cards Visa Debit 1 Sky, and credit card EMV Cremium Visa/Master Card. The bank now has 8 million E-Partner credit cards, 300,000 credit cards, 2000 ATMs and 20,000 POS.
Though BIDV has not listed its shares on the bourse yet, its shares have also been hunted by investors.
After the first shareholders’ meeting on March 8, BIDV has become a joint stock bank instead of a state owned bank.
A source said that the listing of shares would be done soon, while 15 percent of capital would be sold to foreign strategic partners in the second quarter of 2012.
Dau tu chung khoan has reported that BIDV shares would be available on the HCM City bourse by June 2012. It has quoted President Tran Bac Ha as saying that the starting price of BIDV would not be lower than 150 percent of the average IPO price.
Analysts have commented that BIDV would be the good commodity on the market which would be hunted by investors. BIDV has been well known as a big bank, while it has set up very impressive business plan from now until 2020. In 2012, it plans to obtain the credit growth rate of 17 percent, capital mobilization growth rate of 18 percent, pretax profit increase of 36 percent in comparison with 2011. Meanwhile, the non-performing loan ratio would be curbed at less than 2.8 percent, while the ROE would be 17 percent, and dividend 14 percent.
According to Thoi bao Kinh te Vietnam, 9 banks are listing their shares on the bourse, including ACB, Vietinbank, Eximbank, Habubank, Saigon-Hanoi, Nam Viet, Sacombank, Milintary Bank and Vietcombank.
vietnamnet
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