Nguyen Duc Kien, a founder of Asia Commercial Bank, pleaded not guilty to fraudulently taking assets, tax evasion and other crimes that partly caused losses the Vietnamese lender estimates at 8.67 trillion dong ($411 million).
Bank for Investment and Development of Vietnam, the nation’s second-largest lender by assets, will begin trading on the local exchange this week as regulators seek to boost stock-market liquidity and make banks more transparent.
Military Commercial Joint-Stock Bank closed unchanged on its first day on Vietnam’s Ho Chi Minh City Stock Exchange after listing 10.07 trillion dong ($479.4 million) of shares in the nation’s biggest listing this year.
Vietnam plans to introduce new bond instruments such as futures, related indexes and cross currency repurchase agreements to boost trading in the market, as the government ramps up debt sales to a record this year.
PetroVietnam Fertilizer & Chemicals Corp. plans to invest $230 million in adding and diversifying production to boost revenue as its parent considers selling shares in Vietnam’s fourth-biggest manufacturer by market value.