The funds raised via a private placement bolster Vietcombank’s capital ahead of Vietnam's application of Basel II in 2020. However, the state could continue to demand big dividends.
The underlying equities market may be under pressure, but demand for Techcombank's IPO remains strong, meaning slim allocations for investors keen to play Vietnam's growth story.
Credit growth is picking up again in Vietnam. Is the country on course for another bout of rising NPLs and can it develop better tools to manage the fallout?
Flotation of fast growing consumer finance operator will represent an important new test for the country's burgeoning equity capital markets and the re-capitalisation of its banking sector.