ACB Securities counters claims of Eximbank trading violations
Vietnamese brokerage firm ACB Securities claims it has not violated the law relevant to trading of Vietnamese lender Eximbank (EIB) shares.

An Eximbank Vietnam office. Photo courtesy of the bank.
The Ho Chi Minh City-based broker, better known as ACBS, made the clarification to counter viral information on social networks about its trading connection.
ACBS always complies with regulations issued by the State Securities Commission and other regulators, the firm wrote in an announcement.
“Providing inaccurate information about ACBS is considered a slanderous act, affecting the reputation and brand of ACBS. Individuals and organizations that provide inaccurate information must take responsibility,” it stressed.
Eximbank's EIB shares on Friday hit their floor level of VND22,950 ($0.97), down 18% compared to the beginning of the year.
The EIB sticker has fallen sharply following the news that investigators from Ho Chi Minh City Police are investigating probable stock market manipulation.
The police have requested ACBS and Viet Capital Securities Company to provide evidence into what they were investigating in. Viet Capital Securities was also asked to provide securities account documents from Vietnam Enterprise Investment Limited.
Meanwhile, ACBS was requested to provide documents from KB Vietnam Focus Balanced Fund, and Samsung Vietnam Securities Master Investment Trust - Equity.
The two brokers were instructed to provide all relevant information from January 1, 2022 before February 2, 2023.
Eximbank, listed on the Ho Chi Minh Stock Exchange (HoSE), reported an after-tax profit of VND2,504 billion ($106.78 million) in 2022, a three-time increase year-on-year.
On Thursday, a total of 32 million EIB shares, equivalent to 2.6% of Eximbank's charter capital, were sold via put-through method, with a total transaction value of more than VND812 billion ($34.44 million). This session recorded this stock's largest put-through trading volume since early February, only after the session on January 13 with 134 million shares.
In mid-January 2023, Sumitomo Mitsui Banking Corporation (SMBC) announced that it had officially sold 132.8 million shares of Eximbank. After the transaction, SMBC's ownership in the bank decreased from 15.07% (185.3 million shares) to 4.27% (52.51 million shares) and is no longer a major shareholder in the bank.
Previously, a group of shareholders related to Vietnam's Thanh Cong Group sold out a total of more than 117.6 million EIB shares.
On March 18, 2022, SMBC officially announced in writing the termination of its strategic alliance agreement with Eximbank. In September, representative of SMBC in Eximbank, Vo Quang Hien, left as a member of its board of directors.
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