Techcombank entered the bourse earlier this year

Of the five banks, OCB plans to list shares on the HCMC Stock Exchange (HOSE), but it has not been done. OCB’s president Trinh Van Tuan re-affirmed at the shareholders’ meeting in late March that OCB will list shares in 2018, at the end of the third quarter or early the fourth quarter at the latest.

Meanwhile, ABBank plans to put its shares into transactions on UpCom in 2018 before listing shares on HOSE in 2020.

After three years of delay, Nam A Bank finally got the shareholders’ nod on the plan to put shares into transactions at UpCom. The bank hopes it can complete the plan to raise the charter capital to VND5 trillion and follow procedures for entering UpCom in 2018.

Both Viet A Bank and SeABank are moving ahead with the plan to list shares in 2018-2020 period.

Some other banks got their listing plans approved by shareholders some years ago, but have been delaying the implementation of the plans. 

DongA Bank is a typical example. It has to postpone the plan for indefinite time because of the serious violations committed by its former leaders.

Banks still have not fulfilled the listing plan set up by the watchdog agency. To date, some banks have remained silent about the listing roadmap.

Thirteen commercial banks have listed shares on the bourse so far, nine of which listed shares on HOSE, three at the Hanoi Stock Exchange and four on UpCom.

Analysts said to list shares on the bourse, banks have to satisfy a lot of strict requirements, including on information exposure. Many banks are meeting difficulties in corporate governance and still cannot satisfy the requirements.

According to Can Van Luc, a financial expert, leaders of banks that have delayed the listing all said that listing shares must not be done overnight. 

They cannot expose information once without the consent of the state management agency. As a result, banks cannot release information at certain moments when investors need financial information.

The government wants 10 more banks to list shares in the 2016-2020 period. However, the listing plan is not going smoothly as expected. It will take more years to fulfill the plan, depending on the banks’ health and their preparations.

Nguyen Van Thuan, a financial expert, commented that the time for listing will depend on the market conditions. Banks need to choose the right time to list shares to have a high liquidity of shares.

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