New credit limits are announced by stocks companies

In less than a fortnight, securities companies requested banks to grant a total credit amount of VNĐ39 trillion (US$1.65 billion).

23:34 02/07/2023

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 VNĐ10 trillion (US$424 million) at Vietcombank.

On June 27, DNSE Securities Company also announced the decision to open a credit line of VNĐ2 trillion at VPBank. SSI on June 22 announced the opening of a credit line of VNĐ16 trillion at Vietinbank, including VNĐ6 trillion at the Thành An Branch and VNĐ10 trillion at the Hà Nội Branch of the bank.

HSC on June 19 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 VNĐ11 trillion.

Thus in less than a fortnight, the above securities companies requested banks to grant a total credit amount of VNĐ39 trillion (US$1.65 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.