Vietbank (VBB) Targets 2.1 Trillion VND Profit in 2026, Plans HOSE Listing in Q2

Overview

Vietbank (VBB) has announced a 2026 business plan targeting pre-tax profit of 2.1 trillion VND, a 37.1% increase from 2025. The bank also plans to raise its charter capital by nearly 4.8 trillion VND through three share issuances and expects to list on the Ho Chi Minh Stock Exchange (HOSE) in the second quarter of 2026. These moves are aimed at strengthening financial capacity and enhancing market presence.

Key Facts

• 2026 pre-tax profit target: 2.1 trillion VND, up 37.1% from 2025’s 1.532 trillion VND.
• Total assets target: 196.771 trillion VND as of end-2025, with a 17% growth target for 2026.
• Charter capital increase: from 10.769 trillion VND to over 15.5 trillion VND, an addition of nearly 4.8 trillion VND.
• Three share issuances planned: ~1.1 trillion VND from retained earnings, 2.961 trillion VND rights offering, and ~740 billion VND ESOP.
• Total new shares to be issued: 74,036,695 shares, representing a 5% increase after the second tranche.
• HOSE listing expected in Q2 2026; application submitted in March 2026.
• 2025 pre-tax profit reached 1.532 trillion VND, up 35.4% year-on-year, the highest in five years.

What Happened

Vietbank (Vietnam Thuong Tin Commercial Joint Stock Bank, ticker VBB) released its 2026 annual general meeting documents, outlining ambitious growth targets. The bank aims for a 17% increase in total assets, 23.6% credit growth to 134 trillion VND, and 23.9% deposit growth to 155 trillion VND. Non-performing loans are targeted below 2.5%.

To support these goals, Vietbank plans to raise charter capital by nearly 4.8 trillion VND in three tranches: a share issuance from retained earnings and reserve funds (1.1 trillion VND), a rights offering to existing shareholders (2.961 trillion VND), and an employee stock ownership plan (ESOP) of 740 billion VND. The bank also confirmed its intention to list on HOSE in Q2 2026, having submitted the application in March 2026. The board approved the listing plan in July 2025.

Market Context

Vietbank (VBB) currently trades on the UPCoM market. On April 10, 2026, VBB closed at 13,000 VND, up 5.79% with volume of 449,400 shares. The planned HOSE listing is expected to improve liquidity and attract more institutional investors, potentially narrowing the valuation gap with larger listed banks. The banking sector has seen mixed performance amid SBV policy adjustments and credit growth targets.

Strategic Significance

The capital raise and HOSE listing represent a strategic shift for Vietbank to scale up and compete more effectively. Increasing charter capital to over 15.5 trillion VND will bolster the bank’s capital adequacy ratio and support credit expansion. The HOSE listing enhances transparency and access to a broader investor base, including foreign funds, which could improve the stock’s valuation and trading liquidity. This aligns with Vietbank’s medium-term strategy to strengthen its position among mid-tier Vietnamese banks.

What to Watch

• Approval timeline from HOSE for the listing, expected in Q2 2026.
• Execution of the three share issuances and any dilution impact on existing shareholders.
• Q1 2026 earnings results to gauge progress toward the full-year profit target.
• NPL ratio trends, given the target of under 2.5% amid rapid credit growth.
• Regulatory developments regarding capital adequacy requirements for banks.