Vietnamese Banks Post Strong H1 2026 Profits; BVBank Leads with 486% Surge

Overview

Multiple Vietnamese banks reported strong profit growth for the first half of 2026, with BVBank (BVB) leading the sector at a 486% year-on-year increase. Other notable performers include ABBank (ABB) at 80%, Vietbank (VAB) at 79.4%, PGBank (PGB) at 65.7%, and NCB at 57%. The results underscore a broad recovery in net interest income and credit growth among smaller lenders.

Key Facts

• BVBank (BVB) posted H1 2026 pre-tax profit of VND 547 billion, up 486% from VND 93 billion in H1 2025.
• BVBank’s Q2 2026 pre-tax profit reached VND 332 billion, 25 times higher than Q2 2025’s VND 13 billion.
• ABBank (ABB) reported H1 2026 pre-tax profit of VND 3,016 billion, up 80% YoY, achieving 67% of its full-year target.
• ABBank’s total assets stood at VND 260,650 billion as of end-Q2 2026, meeting its full-year plan.
• ABBank’s non-performing loan ratio was only 0.55%, among the lowest in the system.
• Vietbank (VAB) saw profit growth of 79.4%, PGBank (PGB) 65.7%, and NCB 57%.
• Out of 27 banks that reported H1 2026 results, 23 recorded profit growth while 4 saw declines.

What Happened

According to financial statements and company disclosures, 23 out of 27 banks that have published H1 2026 results reported profit increases compared to the same period last year. BVBank led the sector with a 486% surge in pre-tax profit to VND 547 billion, driven primarily by a 39% rise in net interest income in Q2 2026. The bank attributed the improvement to credit growth and better management of funding structure, which enhanced net interest margin (NIM).

ABBank posted a record H1 pre-tax profit of VND 3,016 billion, up 80% YoY, and completed 100% of its full-year asset target. The bank also maintained strong asset quality with an NPL ratio of just 0.55% and a capital adequacy ratio (CAR) above 12%. Other banks such as Vietbank, PGBank, and NCB also reported robust profit growth, reflecting a broad-based earnings beat among smaller Vietnamese lenders.

Market Context

BVBank (BVB) closed at VND 12,400 on July 30, 2026, on the HOSE. The stock has likely benefited from the strong earnings surprise, though its market capitalization remains modest relative to larger peers. ABBank (ABB) closed at VND 17,400, PGBank (PGB) at VND 9,700, and Vietbank (VAB) at VND 10,250. The banking sector as a whole has seen mixed performance in 2026, with larger banks like Techcombank reporting over VND 18,500 billion in H1 profit, but the standout growth among smaller banks highlights a divergence in earnings momentum.

Strategic Significance

The strong profit growth at BVBank and other smaller banks signals that these institutions are successfully expanding their lending books and improving margins, likely by focusing on retail and SME segments where they have competitive advantages. For BVBank, the 486% profit surge from a low base demonstrates operational turnaround and potential for further scale. ABBank’s achievement of its full-year asset target by mid-year suggests strong execution. However, investors should note that these banks operate in a highly competitive environment and face pressure from larger state-owned and private banks. The ability to sustain NIM expansion and control credit costs will be key to maintaining growth.

What to Watch

• BVBank’s Q3 2026 earnings release to see if profit growth momentum continues.
• ABBank’s progress toward its full-year profit target and any updates on credit growth.
• NPL trends across these banks, especially given rapid credit expansion.
• SBV policy on credit growth caps and interest rates, which could impact NIM.
• Any capital raising plans from BVBank or ABBank to support further expansion.