The Strength of Vietnam’s Largest Bank: Vietcombank’s Market Capitalization Surges More in One Day than the Value of Thousands of Companies on the Stock Exchange

Vietcombank (VCB) shares surged to the ceiling price of 69,100 VND/share on August 27, raising its market capitalization to 577 trillion VND (22 billion USD). In just one session, Vietcombank’s market cap increased dramatically by 37.6 trillion VND (1.5 billion USD), surpassing the value of over 1,500 companies on the exchange. It leads the Vietnamese banking sector in both market cap and charter capital, with over 8 billion shares in circulation. The bank plans to increase its charter capital beyond 100 trillion VND through private stock offerings and dividend distributions in shares. In the first half of the year, total income reached 35.1 trillion VND, a 3.2% increase year-on-year, while pre-tax profit reached 21.894 trillion VND, up 5.1%, due to a significant decrease in risk provision costs.