Bank shares in the OTC market (over the counter) have been skyrocketing, especially in the last two weeks, no matter whether they are shares of big banks or banks that were once rural banks.

East Asia Bank (EAB), Export – Import Bank (Eximbank), VIB Bank, VP Bank and Military Bank (MB) are the banks whose shares have seen the biggest increases in the last two weeks.

EAB shares are now trading at VND17.5mil/share, up by VND3.5mil/share just in the last 10 days. Eximbank shares are priced at VND13.5mil/share, up by VND1.5mil compared to the December 15 level. MB Bank shares are selling at VND8mil instead of VND7.4mil as previously seen.

Habubank shares have made a big leap recently: its shares are being offered at VND77,000/share, or VND10,000/share higher than two weeks ago.

The bank share price increase has been one of the hottest topics. On Vietstock forum, for example, the discussion about bank share prices accounted for 50% of the forum’s discussions.

EAB share prices have been skyrocketing since the news that the bank was going to sell shares to Citigroup. MB shares have become more attractive as the bank’s dividend is estimated at 42% in this year. An Binh bank share prices exceeded the VND500,000/share level after investors heard about the plan to issue convertible bonds.

Experts said that it was understandable why bank shares were so attractive to investors. All the banks have announced good business performances in 2006 and high percentages of dividends. However, they have warned that the bank share prices are now at overly high levels, and might be well higher than their actual values.

(Source: TBKTVN)