LPBank Raises Deposit Rates 30bps, Online Rates Hit 7.3%
This Aveluro analysis covers LPB (LPBank) on HOSE in the Banks sector. The classified event type is rate decision, with neutral sentiment and a deterministic market-impact score of 9.0/10. Source coverage came from CafeF - Tài chính ngân hàng, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
LPBank (LPB) has increased deposit interest rates for tenors of 6-25 months by 0.3 percentage points, effective August 3, 2026. Online rates now reach as high as 7.3% per annum, placing LPBank among the highest-yielding banks in Vietnam. This move reflects intensifying competition for deposits in the banking sector.
Key Facts
- LPBank raised deposit rates by 0.3 percentage points for tenors from 6 to 25 months, effective August 3, 2026.
- Online rates for 12-month and 24-25 month tenors now stand at 7.3% per annum, the highest in the bank’s online schedule.
- Online rates for 6-11 month tenors increased to 7.1% per annum.
- Counter rates for 6-25 month tenors also rose by 0.3 percentage points, with the highest at 6.9% for 24-25 month tenors.
- Rates for tenors under 6 months on the online channel increased by 0.1 percentage points, with 3-5 month tenors at 4.75% per annum, matching the SBV cap.
- Long-term tenors of 36-60 months remain unchanged at 6.2% per annum.
- LPBank’s online rates are now 0.2-0.4 percentage points higher than counter rates for most tenors.
What Happened
LPBank (Lộc Phát Việt Nam) updated its deposit rate schedule on August 3, 2026, raising rates across the board for tenors of 6-25 months. The increase of 0.3 percentage points applies to both online and counter deposits, lifting online rates to as high as 7.3% per annum for 12-month and 24-25 month tenors. This places LPBank among the top-yielding banks in the system.
The bank also adjusted short-term online rates upward by 0.1 percentage points, bringing 3-5 month tenors to 4.75% per annum, the ceiling allowed by the State Bank of Vietnam (SBV) for deposits under six months. Counter rates for tenors under six months were left unchanged. The rate hike is part of LPBank’s strategy to attract deposits amid competitive market conditions.
Market Context
LPB shares closed at VND 53,000 on August 3, 2026, on the HOSE. The rate hike comes as Vietnamese banks compete aggressively for deposits, with several institutions raising rates in recent months. LPBank’s move to offer 7.3% online rates positions it at the higher end of the market, potentially attracting depositors but also increasing funding costs. This could pressure net interest margins if lending rates do not adjust correspondingly.
Strategic Significance
For long-term investors, LPBank’s aggressive deposit pricing signals a focus on liquidity and deposit growth, possibly to support credit expansion. However, higher funding costs may compress margins, especially if the SBV maintains its current policy stance. The bank’s ability to redeploy these funds into higher-yielding assets will be key to sustaining profitability. This move also reflects broader competitive dynamics in Vietnam’s banking sector, where smaller banks often lead rate hikes to gain market share.
What to Watch
- LPBank’s Q3 2026 earnings report for net interest margin trends.
- SBV policy rate decisions and any changes to deposit rate caps.
- Competitor rate adjustments in response to LPBank’s hike.
- LPBank’s credit growth and loan yield data in upcoming months.
- Any regulatory commentary on deposit competition from the SBV.