These days the banking industry are reaping impressive results. There used to be only 9 listed banks with total market capitalization at USD11.8 billion in 2013. Now, 15 banks are listed on the two stock exchanges, with total capitalization of USD40 billion, accounting for 21.5% of total market capitalization. Stock price of banking sector increased by 73.2% in 2017 and recently rose by 40% in the first quarter of 2018, while the VN-Index was at 48% and 19.3% respectively.
By 30th March 2018, the banks’ stocks are trading at 3.2x its Book Value (P/BV) and 20.3x its trailing earnings (P/E). We also witnessed a number of M&A transactions between foreign partners and consumer finance companies, where they and their licenses are priced by very impressive valuation multiples.
In the coming months, market players and the investor community are looking forward to a series of listing from banks and consumer finance companies, namely Techcombank (TCB), Tien Phong Bank (TPB), Oriental Commercial Bank (OCB), and FE Credit, etc. Some of them have just had soaring share prices on the OTC market.
In this context, key questions are raised for 2018 and the years to come:
1) What are the important trends of Vietnam's banking industry and finance companies?2) What will macroeconomic or monetary policies be, and which will affect the banking system in general and the stock market in particular?3) What are the upside opportunities and risks when having exposure in banking stocks, and more importantly, what to watch out for while considering the banks whose shares are about to be floated?
Discussion Topics• Banking sector landscape: key growth drivers in 2018 and a near future• Major policies and its implications to banking stocks and IPOs• Key investment considerations in listed stocks and upcoming listings• Upside opportunities and risks in selected banking stocks
Guest Speakers:- Mr. Nguyen Tu Anh: Deputy Director General, Monetary Policy Department, State Bank of Vietnam (SBV)- Mr. Kalidas Ghose: Vice Chairman & CEO at Vietnam Prosperity Bank Finance Company, Ltd. (FE CREDIT)- Mr. Nguyen Quang Thuan: Chairman & CEO of StoxPlus- Mr. Nguyen Dinh Tung: CEO, Orient Commercial Bank (OCB)- A Lead Analyst / a Fund manager (to be confirmed)
Who should attend• Fund managers and asset managers• Financial investment companies• Institutional investors • Lead equity analysts especially banking analysts• Banking executives and banking strategy/ planning executives
15:00 – 15:10 (10’) Welcome and introduction15:10 – 15:30 (20’) Presentation: “Banking Sector Updates and Key Questions raised”Presented by: Mr. Nguyen Quang Thuan, CEO, StoxPlus 15:30 – 16:00 (30’) Presentation: “Major macroeconomic and monetary policies ongoing and its implications for the performance of banking sector and banking stocks in 2018”Presented by: Mr. Nguyen Tu Anh, Deputy Director General, Monetary Policy Department, State Bank of Vietnam (SBV)16:00 – 17:00 (60’) Panel Discussion and Q&AMain topics:• Banking sector landscape: key growth drivers in 2018 and a near future• Major policies and its implications to banking stocks and IPOs• Key investment considerations in listed stocks and upcoming listings• Opportunities in selected banking stocks Panelists: • Mr. Nguyen Tu Anh, Deputy Director General, Monetary Policy Department, SBV• Mr. Kalidas Ghose, Vice Chairman & CEO at FE Credit• CEO of a bank going to listed (tentative)• A Lead Analyst/a Fund manager (to be confirmed)• Mr. Nguyen Quang Thuan, CEO, StoxPlus (Moderator)17:00 – 17:30 (30’) Q&A via slido.com17:30 – 17:45 (15’) Concluding remarks and Closing17:45 – 18:45 (60’) Toasting and Cocktail Networking
ContactStoxPlus is very pleased to welcome you and look forward to receiving your cooperation for FiinPro Talk to be held successfully.
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Ms. Nguyen Anh TuyetManager, Business Development, FiinformEmail: email@example.comMobile: +84 122 333 5034Tel: +84-24-3562 6962 – ext: 103