From a small-scale market with only two stocks, each with a market capitalization of more than 5 billion USD, up to now, the capitalization of the Vietnamese stock market at the end of the second quarter of 2024 has reached more than 7,066 trillion VND, equivalent to 69.1% of estimated GDP in 2023, many times higher than the modest figure of nearly 1,000 billion VND in 2000, the Vietnamese stock market has emerged as a promising market.
On August 22, 2024, ACB was officially licensed to become a depository member of the Vietnam Securities Depository and Clearing Corporation, one of the few domestic depository banks in Vietnam providing services to support investment activities of domestic and foreign investment institutions.
Mr. Huynh Duy Sang, Director of ACB Financial Markets, said: “ACB always believes in the great potential of the Vietnamese capital market, one of the attractive investment destinations in the region. Taking advantage of its competitive advantage as a leading domestic bank, with outstanding quality and service and a deep understanding of the market, ACB is committed to being a bridge connecting investment institutions to access the Vietnamese stock market . We will do our best to bring the best experience to customers, financial institutions, investment funds; and join the market in welcoming the wave of investment in Vietnam”.
Along with the implementation of securities depository services, ACB also put into operation the Banking Supervisory and Fund Accounting services for domestic fund management companies, aiming to provide comprehensive services, together with ACBS Securities Company, ACB Fund Management Company (ACBC) to complete the financial service ecosystem, maximally supporting the investment activities of financial institutions.
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In addition, during the research process for foreign investors, ACB has identified two main obstacles. One is the solution to access enough information like domestic investors, the other is the understanding of regulations and laws in Vietnam. Support for opening securities trading accounts as well as applying for securities trading codes, support for transaction execution, and timely updates of market information are the highlights in the services for investors that ACB aims for.
With a quick registration and transaction process, convenient documents and a team of professional and experienced securities services, the securities depository service deployed at ACB currently includes all the main operations at depository banks such as: Registering securities transaction codes; Opening depository accounts; Securities depository; Withdrawing securities; Blocking and releasing securities; Transferring - Clearing securities; Supporting investors in exercising Shareholder Rights.
In the future, ACB, together with ACB Securities Company Limited (ACBS), ACB Fund Management Company Limited (ACBC), will develop an ecosystem , maximally supporting investment activities of foreign investment funds and domestic fund management companies to contribute to the development of the capital market, aiming to upgrade the Vietnamese market in the future.
Interested customers please see detailed information at Securities Depository Service (acb.com.vn) .
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