The Stock Market’s “Royal” Attractions

The VN-Index continued its recovery trend on May 15, gaining 3.47 points to close at 1,313.2. However, the market witnessed a strong divergence, with most of the upward momentum coming from the banking group. Notable gainers included SHB, MBB, ACB, LPB, MSB, and STB.

SHB stood out with a gain of over 5% and recorded the second-highest trading volume since the beginning of the year. It also attracted strong foreign buying, with a net purchase of more than 22 million units – a record high for this stock.

MBB, ACB, and LBP also posted significant gains ahead of their dividend payment dates. Both ACB and LPB will finalize their dividend lists next week with high dividend payout ratios. MB, which plans to distribute a generous 35% dividend, has not yet announced its dividend record date. On May 15, foreign investors net bought nearly 22.1 million MB shares, valued at over VND554 billion.

Another bank stock that has been in the spotlight recently is MSB. Shares of the Vietnam Maritime Commercial Joint Stock Bank surged nearly 18% in the past month, trading around VND12,000 per share. The trading volume on May 15 surged to more than 21 million shares, indicating strong market participation. Notably, foreign investors also increased their net buying to over 1 million shares, reflecting their positive expectations for the bank’s medium and long-term prospects.

In the first quarter of 2025, MSB reported positive business results, with credit growth reaching 8.92%, accounting for 45% of the full-year plan. Corporate credit increased by 11%, mainly in industries with low volatility, such as transportation, light industrial goods trading, and consumer electronics production and telecommunications. Individual customer deposits reached nearly VND87,600 billion, an increase of nearly 11%, accounting for over 53% of total mobilized capital. The ratio of non-term deposits (CASA) accounted for 24.35% of total deposits, ranking in the top 4 in the market. Pre-tax profit reached nearly VND1,631 billion, slightly higher than the same period last year. These results provide a solid foundation for MSB to achieve its 2025 profit plan and continue to improve profitability in the coming quarters.

In April 2025, MSB successfully held its 2025 Annual General Meeting of Shareholders, approving the 2025 business plan with total assets reaching VND350,000 billion, up 9% from the beginning of the year; a profit target of VND8,000 billion, up 16%; and a bad debt ratio controlled below 3%.

MSB also plans to increase its charter capital from VND26,000 billion to VND31,200 billion by issuing dividend payment shares with a ratio of 20%. The expected implementation time is the third quarter of this year, after obtaining approval from the competent authorities.

In addition, MSB has approved a strategy to complete its financial ecosystem and target a higher-end customer segment. The bank also intends to find suitable partners to transfer a part or the entire capital contributed to TNEX Finance to focus on its core business while allocating resources to expand its scale and implement potential projects. MSB is considering entering the securities and investment banking sectors, carefully assessing the overall context, and seizing market opportunities.

According to analysts, with strong credit growth, stable funding base, positive business results, attractive valuation, and a modest gain of just over 12% year-to-date, MSB is a standout performer in the banking sector.