Saigon Commercial Bank plans HCMC listing next year

Saigon Commercial Joint-Stock Bank plans to list on the Ho Chi Minh Stock Exchange early next year, said Chief Executive Officer Pham Anh Dung.

“We are planning to list early next year because we only need to have one more board member to meet the exchange’s listing requirements,” Dung said by phone Friday. Saigon Commercial has four board members.

The 70 percent rally in Vietnam’s benchmark VN-Index this year has encouraged companies with listing plans to press ahead. Lien Viet Commercial Joint-Stock Bank and Military Commercial Joint-Stock Bank aim to have their shares traded on Vietnam’s main bourse next year.

Net income at Saigon Commercial rose 23 percent to VND285 billion (US$16 million) in the first half from a year earlier, according to a statement on its website.

thanhnien, Bloomberg

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