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After four consecutive losing sessions, bottom-fishing demand for some stocks helped the market recover in the early afternoon trading session on July 17, with the VN-Index briefly surpassing the 1,290-point mark and gaining over 10 points. However, strong selling pressure towards the end of the session caused the market to plunge into deep losses, despite the positive performance of bank stocks.
At the close of the July 17 session, the VN-Index lost 12.52 points (-0.98%) to close at 1,268.66. Trading liquidity on HoSE surged compared to the previous session, with the matching value reaching 28.1 trillion dong. The HNX-Index fell 1.64% to 240.9 points, while the UPCoM-Index declined 1.34% to 96.94 points.
As the pillar supporting the market’s indices, bank stocks witnessed a positive session with 16 out of 27 listed and traded codes on the UPCoM market posting gains. Notably, BVB of Bank Viet soared more than 8.5% to 14,000 VND per share. Prior to that, this stock also surged nearly 5.7% in the previous session on July 16.
Regarding BVB, the State Bank of Vietnam (SBV) recently approved BVBank to increase its charter capital by a maximum of over 1,391 billion VND through three forms.
Specifically, the bank is allowed to issue nearly 50.2 million new shares to increase capital from owned capital sources. The charter capital will be increased by a maximum of 502 billion VND. This plan was approved at the 2023 Annual General Meeting of Shareholders (AGM) but was not implemented last year. The 2024 AGM decided to continue with this plan this year.
In addition, BVBank is also permitted to issue nearly 69 million shares to existing shareholders at a ratio of 8:1 (each shareholder owning 8 shares is entitled to buy 1 new share), with a corresponding issuance value of nearly 690 billion VND at par value. Simultaneously, BVBank will offer 20 million shares to employees (ESOP) at a price of 10,000 VND per share.
On the HoSE, NAB of Nam A Bank continued its impressive performance, surging nearly 5.9% to 15,300 VND per share. Since the beginning of the week, this stock has gained a total of 9.3%.
In related news, Nam A Bank recently finalized its shareholder list on July 12 to implement the issuance of shares to increase its charter capital from owned capital sources at a ratio of 25%. The source of the issuance is the undistributed profit of 2023 (after various funds have been allocated) and undistributed profits from previous years. Moreover, the bank expects its profit for the first half of the year to reach a new peak, completing over 50% of the full-year plan.
Two “national” stocks in the banking sector, TCB and MBB, also posted impressive gains, rising 4.4% and 4.0%, respectively. They were also the two strongest gainers within the VN30 group. This positive momentum pushed MBB’s market price to within 2% of its all-time high, while TCB also approached the 24,000 VND per share level.
HDB of HDBank marked its third consecutive gaining session and set a new peak at 25,200 VND per share. Prior to that, HDBank finalized its shareholder list on July 15 to pay a 10% cash dividend. In addition to cash dividends, HDBank also plans to distribute stock dividends this year at a ratio of 20%, meaning that for every 100 shares owned, shareholders will receive 20 newly issued shares.
Over the years, HDBank has consistently led the market in terms of dividend payouts to its shareholders. Continuing the tradition of regular and high dividend payouts in the industry, at the recent Annual General Meeting of Shareholders, the bank announced its planned dividend payout for 2025, with a projected ratio of up to 30%, including a maximum of 15% in cash.
Apart from the aforementioned stocks, many other large-cap bank stocks also recorded solid gains in today’s session, including BID (+1.8%), STB (+1.67%), ACB (+1.66%), CTG (+1.54%), VIB (+1.41%), and MSB (+1.37%).
Trading liquidity for bank stocks also surged in today’s session, with exceptionally high trading volume observed in MBB. Specifically, nearly 72.4 million MBB shares changed hands by the end of the session, marking the highest trading volume since its listing.
Alongside MBB, several other bank stocks also witnessed high liquidity, including SHB (47.7 million shares), VPB (34.9 million shares), ACB (28.9 million shares), TCB (27.4 million shares), and STB (25.1 million shares).
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