The Vietnamese stock market has witnessed significant fluctuations and changes over the past decade, and so has the ranking of the top 10 companies with the largest market capitalization.
Banks continue to hold multiple spots in the top 10. Throughout the past decade, there has never been a time when the top 10 companies with the largest market capitalization did not include at least 3 banks. Notably, Vietcombank has held the top position for nearly 4 consecutive years, with a significant gap in market cap compared to the second position. As of August 9, 2024, Vietcombank’s market cap stood at over VND 490 trillion, followed by BIDV with VND 266 trillion and ACV with VND 239 trillion.
Interestingly, as of the trading session on August 9, 2024, the top 5 companies with the largest market capitalization were all state-owned enterprises, including Vietcombank, BIDV, ACV, Viettel Global, and PV Gas. This is the first time in 10 years that the top 5 ranking has been devoid of private enterprises.
Among the largest private enterprises in the country, Vinamilk and Vingroup have consistently been among the highest in market capitalization since their listings. In the 6-year period from 2015 to 2022, Vinamilk and Vingroup took turns holding the number 1 position.
However, Vinamilk’s ranking has slipped since 2017 with the emergence of new companies, and as of August this year, it has fallen out of the top 10. Vingroup, on the other hand, has frequently been in the top 5 until 2023, after which it experienced a significant drop in ranking.
Top 10 companies with the largest market capitalization from 2015 to 2024
This shift can be attributed to the outstanding growth of ACV and Viettel Global in the first half of the year, as they continuously reached new historical highs, pushing their market capitalization higher. Viettel Global, which was ranked 9th at the end of 2023, has climbed to the 3rd position with a market cap of over VND 239 trillion, an increase of more than VND 95 trillion compared to the previous year. Viettel Global, making its first appearance in the top 10 since 2015, now stands at the 4th position with a market cap of nearly VND 193 trillion, an increase of over VND 114 trillion in just over 8 months.
With the world trending towards AI, semiconductors, and chips, coupled with favorable financial results, technology stocks, particularly those related to the “FPT family” and “Viettel family,” have made a strong impression on the stock market in the first half of 2024. Joining Viettel Global in the top 10 for the first time in 10 years is FPT, with a market capitalization of over VND 185 trillion as of August 9.
Alongside the rise of these companies, two Vin-affiliated enterprises, Vingroup and Vinhomes, have fallen out of the top 5 companies with the largest market capitalization after consistently being in the top group from 2018 to 2023. With their share prices declining compared to the beginning of the year, Vinhomes’ market cap has dropped by VND 26 trillion, while Vingroup’s has decreased by nearly VND 13 trillion, placing them at 9th and 10th positions, respectively.
Some companies that have consistently been in the top 10 market capitalization ranking for the past 10 years include Vietcombank, Vingroup, BIDV, and PV Gas.
Dragon Capital Chairman: “Long-term vision is needed, accepting necessary adjustments for a safer, more efficient, and higher quality market”
According to Mr. Dominic Scriven, Chairman of Dragon Capital, the role of the finance industry in the stock market will be significant in 2023 and possibly in 2024. The roles of other industries, such as real estate or consumer goods, will depend on their respective challenges.
Hải Hà Petro and Xuyên Việt Oil accumulate bad debts of over 11,000 billion dong
Not only did these two petroleum companies commit violations regarding the Price Stabilization Fund and massive tax debts, but they also have bad debts at banks amounting to tens of thousands of billion Vietnamese dong.
Which bank offers the highest interest rate for online savings in early February 2024?
Beginning February 1st, 2024, several banks have been adjusting their interest rates downwards for savings accounts ranging from 1 to 24 months. Based on a survey conducted across 16 banks, the highest annual interest rate for online savings deposits at a 6-month term is 5%, while for a 12-month term, it is 5.35%.
Once a formidable competitor in the stock market, the total market capitalization of the entire real estate industry is now less than the combined market capitalization of three banks.
If you combine the market cap of Vietcombank and BIDV, along with the market cap of Vietinbank (which is approximately 960 trillion VND), it already surpasses the market cap of the top 30 largest real estate enterprises (which is around 788 trillion VND).
