Vietnamese Banks Raise Billions via Bond Issuances: STB, HDB, BID

Overview

Vietnamese banks are aggressively tapping the bond market to bolster capital. Sacombank (STB) successfully raised VND 3,650 billion through three private placements, while HDBank (HDB) plans a VND 10,000 billion public offering. BIDV (BID) also completed a VND 3,699 billion public bond sale. These moves reflect a broader trend of banks strengthening Tier 2 capital to support credit expansion and meet regulatory requirements.

Key Facts

• Sacombank issued three bond tranches (STB12606, STB12607, STB12608) with a 6-year tenor and fixed 10% annual coupon.
• The tranches were issued on July 27, 30, and 31, with values of VND 420 billion, VND 2,230 billion, and VND 1,000 billion, respectively.
• Sacombank’s total bond issuance reached VND 3,650 billion, part of a VND 20,000 billion private placement plan.
• HDBank plans to offer 100 million bonds at VND 100,000 face value, targeting VND 10,000 billion, with two tranches within 12 months.
• HDBank’s first tranche includes 25 million 7-year bonds (HDBC7Y263301) and 25 million 8-year bonds (HDBC8Y263401).
• BIDV completed its second public bond offering of nearly 37 million bonds, raising VND 3,699 billion.
• All bonds are non-convertible, unsecured, subordinated debt eligible for Tier 2 capital.

What Happened

Sacombank (STB) has successfully raised VND 3,650 billion through three private bond placements, according to a company announcement. The bonds, issued in late July, carry a fixed annual interest rate of 10% and a six-year maturity. The proceeds will be used to supplement medium- and long-term capital, enhancing financial capacity and risk resilience.

HDBank (HDB) has announced a public bond offering of up to 100 million bonds, aiming to raise VND 10,000 billion. The offering will be conducted in two tranches, with the first tranche of 50 million bonds (7-year and 8-year tenors) expected within 90 days, and the second tranche of nearly 53.1 million bonds planned for Q2-Q4 2026. BIDV (BID) also completed its second public offering, raising VND 3,699 billion from nearly 37 million bonds.

Market Context

Sacombank (STB) closed at VND 74,600 on August 7, 2026, on the HOSE. HDBank (HDB) closed at VND 26,550, and BIDV (BID) at VND 39,050. These capital raises come amid a competitive banking sector where banks are seeking to strengthen capital adequacy ratios ahead of Basel III implementation and rising credit demand. The bond issuances are part of a broader trend, with other banks like LPBank, Techcombank, and VPBank also raising significant amounts.

Strategic Significance

These bond issuances are strategically important for long-term investors as they enhance the banks’ Tier 2 capital, supporting loan growth and regulatory compliance. For Sacombank, the successful placement demonstrates market confidence and provides a buffer for future expansion. HDBank’s large public offering aims to diversify funding sources and reduce reliance on deposits. BIDV’s offering reinforces its position as a leading state-owned bank. The use of subordinated bonds is a cost-effective way to boost capital without diluting existing shareholders.

What to Watch

• HDBank’s first bond tranche issuance date and subscription results.
• Sacombank’s progress toward its VND 20,000 billion private placement target.
• BIDV’s potential further bond offerings to meet capital needs.
• Regulatory updates on Tier 2 capital treatment and Basel III implementation.
• Banks’ Q3 2026 earnings reports to assess capital adequacy and credit growth.