Over the first 5 months of 2024, a third of the 30 largest securities firms announced plans to raise a total of around VND38 trillion in new equity capital over the next 12 months. We view the planned capital raising to be significant and will boost the firms’ total equity by around 20%. With the additional capital, firms will be able to pursue growth in their core margin lending and investment businesses in 2024. Stronger profits from these businesses will help firms to strengthen loss absorption buffers against potential downside risks.
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