Nam A Bank becomes 18th lender listed on Vietnam’s main bourse

Nam A Commercial Joint Stock Bank (Nam A Bank) on Friday debuted 1.06 billion shares on the Ho Chi Minh Stock Exchange (HoSE), becoming the 18th bank to be traded on Vietnam’s main bourse.

The shares, coded NAB, were offered at a starting price of VND15,900 ($0.64) with a trading band of ±20 on the first trading day.

They closed up 6.3% at VND16,900 ($0.69) each, giving the bank a market value of VDN17.88 trillion ($725 million).

Established in August 1992, Nam A Bank now has charter capital of VND10.58 trillion ($429 million). It aims to raise the capital base to VND13 trillion this year and VND16.2 trillion next year.

The bank earned a consolidated net profit of VND2.62 trillion ($106.33 million) in 2023, up 45% year-on-year. Its total assets had increased 18.2% year-on-year to VDN209.9 trillion ($8.51 billion) at the end of 2023, according to its financial statement.

It targets to make a pre-tax profit of VND4 trillion ($162.24 million) this year, with return on asset and return on equity set at 1.4% and 20% or more, respectively.

Out of 32 domestic commercial banks, 18 are traded on the HoSE, including the biggest players like Vietcombank, BIDV, VietinBank, VPBank, and Techcombank. Two have shares floated on the Hanoi Stock Exchange while seven are traded on the Unlisted Public Company Market (UPCoM). The remaining five, including state-run Agribank, are not listed on either of the three exchanges.