The Vietnamese stock market has come a long way since its humble beginnings, now boasting a market capitalization of over VND 7,066 trillion as of Q2 2024, equivalent to 69.1% of the estimated GDP in 2023. This is a significant leap from its meager VND 1,000 billion in 2000, showcasing its immense potential.
On August 22, 2024, ACB officially became a Depository Member of the Vietnam Securities Depository and Clearing Corporation, joining a select few domestic custodian banks in Vietnam. This enables ACB to support the investment activities of domestic and foreign institutional investors.
“We firmly believe in the enormous potential of Vietnam’s capital market, which is one of the most attractive investment destinations in the region. As a leading domestic bank, ACB is committed to being the bridge connecting institutional investors to the Vietnamese stock market. We leverage our competitive advantages, including our outstanding quality and services, as well as our deep understanding of the market, to strive to bring the best experience to our customers, including financial institutions and investment funds,” shared Mr. Huynh Duy Sang, Director of ACB’s Financial Markets Division.
In addition to securities custody services, ACB has also launched fund supervision and fund accounting services for domestic fund management companies, offering a comprehensive suite of services. Along with ACB Securities Company and ACB Fund Management Company (ACBC), ACB is committed to perfecting its financial ecosystem to best support the investment activities of financial institutions.
ACB has identified two main challenges faced by foreign investors: accessing sufficient information on par with domestic investors and understanding the regulations and legal framework in Vietnam. To address these challenges, ACB aims to support investors in opening securities trading accounts, obtaining securities trading codes, executing transactions, and providing timely market updates.
With a streamlined registration and transaction process, convenient documentation, and a professional securities services team, ACB’s securities custody services cover all the main functions of a custodian bank. These include obtaining securities trading codes, opening custody accounts, securities custody, securities withdrawal, securities blocking and unblocking, securities transfer and settlement, and supporting investors in exercising shareholder rights.
Looking ahead, ACB, in collaboration with ACB Securities JSC (ACBS) and ACB Fund Management JSC (ACBC), aims to develop a comprehensive ecosystem to support the investment activities of foreign investment funds and domestic fund management companies. This initiative contributes to the development of the capital market and moves towards the goal of upgrading Vietnam’s market status in the future.
For more information, please visit Securities Custody Services (acb.com.vn).
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