Securities companies announce new credit limits

Your browser does not support the audio element. In less than a fortnight, securities companies requested banks to grant a total credit amount of VNĐ 三 九 trillion (US$ 一. 六 五 billion). An investor watches share prices on a screen at Saigon Securities Inc. VNA/VNS Photo Trần Việt

HÀ NỘI A number of securities companies have announced proposals to open credit lines at banks to supplement working capital.

VNDIRECT Securities Joint Stock Company has recently announced the opening of a maximum credit line of VNĐ 一0 trillion (US$ 四 二 四 million) at Vietcombank.

On June  二 七, DNSE Securities Company also announced the decision to open a credit line of VNĐ 二 trillion at VPBank. SSI on June  二 二 announced the opening of a credit line of VNĐ 一 六 trillion at Vietinbank, including VNĐ 六 trillion at the Thành An Branch and VNĐ 一0 trillion at the Hà Nội Branch of the bank.

HSC on June  一 九 also simultaneously issued three resolutions on lines of credit at three banks, namely VietinBank, Vietcombank and Maritime Bank (MSB). The total credit value of the three banks reached VNĐ 一 一 trillion.

Thus in less than a fortnight, the above securities companies requested banks to grant a total credit amount of VNĐ 三 九 trillion (US$ 一. 六 五 billion). The purpose includes serving investment and trading in stocks, Government bonds, and certificates of deposit, as well as carrying out business activities.

This trend is likely to continue as the market beginning to see an uptrend, said Bùi Văn Huy, Branch Manager of DSC Securities Company. It is likely that in the coming days there will be many other firms announcing that they are opening lines of credit with banks.

With the current abundant cash flow, margins will be chosen more by investors. The current margin usage is at its highest level since the beginning of the year. VNS