Vietnam’s largest bank, Vietcombank (VCB), achieved new records during the active trading session on August 27, with its shares rising the maximum limit of 7% to 69,100 VND/share and a market capitalization exceeding 577,377 billion VND (~22.2 billion USD). This marks the first time a Vietnamese enterprise has surpassed a market capitalization of 22 billion USD. Trading volume also reached a record, exceeding 31 million shares, worth 2.1 trillion VND. The government issued a decree modifying the exclusive gold production mechanism, enabling Vietcombank and other large-cap companies to participate. Although VCB reported a pre-tax profit of 21,894 billion VND, up 5.1% year-on-year, net interest income slightly dropped by 0.5%, while service income plummeted by 43%. However, a significant 48% decrease in risk provisions contributed to a slight increase in profit.
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