Habubank Licensed to Set up Securities Trading Arm
The State Securities Commission on November 4 granted a license to the House Building Commercial Joint Stock Bank (Habubank), allowing it to set up a securities arm.
Accordingly, Habubank Securities Company will be established with a registered capital of VND20 billion (US$1.27 million), providing securities brokerage, stock dealing, financial consulting, securities investment, and custodian services.
The firm becomes the 14th securities company in Vietnam, whose stock market has 31 listed companies and more than 20,000 accounts registered after five years of operation
.
Vietnam expects to establish more than 15-20 firms this year and 30-36 by 2010. At present, the Bac A Commercial Bank is also seeking licenses to set up its securities arms.
HSTC
Vietnamese
