VPBank’s shares (VPB) saw a remarkable surge, increasing nearly 7% to 34,200 VND on August 19 after the announcement of an IPO for VPBankS in Q4. The bank’s market capitalization reached over 271 trillion VND (10 billion USD), ranking 4th among banks. Since early July, VPB has soared nearly 90%, from over 18,000 VND to above 34,000 VND, reflecting investors’ trust in VPBank’s long-term growth and the Vietnamese banking sector. VPBank reported a pre-tax profit of 11.2 trillion VND for the first half of the year, a 30% increase. The stock is deemed attractively priced with a P/E of about 9 times, significantly lower than the industry average. The Vietnamese banking sector is currently undervalued, presenting investment opportunities. The anticipated IPO of VPBankS is expected to further enhance VPBank’s value, following successful past transactions, contributing to the growth of Vietnam’s stock market.
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