Six Vietnamese Banks Plan Nearly VND 34,000B in Cash Dividends for 2025

Overview

Six Vietnamese banks have announced plans to pay cash dividends for the 2025 fiscal year, with total estimated payouts reaching nearly VND 34,000 billion (approximately USD 1.35 billion). LPBank (LPB) leads with a proposed 30% cash dividend, while VPBank (VPB), MBBank (MBB), ACB (ACB), SHB (SHB), and VIB (VIB) also disclosed their payout ratios. The announcements were made during the 2026 annual general meeting season.

Key Facts

• Total estimated cash dividend payout from six banks: nearly VND 34,000 billion (~USD 1.35 billion).
• LPBank (LPB) proposes a 30% cash dividend, the highest among the group, with an estimated payout of ~VND 9,000 billion.
• VPBank (VPB) plans a 5% cash dividend, estimated at ~VND 4,000 billion, plus a stock dividend of over 26% to raise charter capital from VND 79,339 billion to VND 100,000 billion.
• MBBank (MBB) proposes a 10% cash dividend (~VND 8,055 billion) and a 15% stock dividend (over 1.2 billion shares).
• ACB plans a 7% cash dividend (~VND 3,600 billion) and a 13% stock dividend (~VND 6,600 billion), total payout over VND 10,000 billion.
• SHB proposes a 6% cash dividend (~VND 3,206 billion) and a 10% stock dividend, total ~VND 8,550 billion.
• VIB shareholders approved a 9% cash dividend (~VND 3,000 billion) plus a 9.5% stock bonus.

What Happened

During the 2026 annual general meeting season, six Vietnamese banks disclosed their cash dividend plans for the 2025 fiscal year. LPBank (LPB) stands out with a proposed 30% cash dividend, the highest among the group, amounting to nearly VND 9,000 billion. If approved, this would be the largest cash dividend in the bank’s history. VPBank (VPB) plans a 5% cash dividend (~VND 4,000 billion) alongside a stock dividend to increase charter capital. MBBank (MBB) proposes a 10% cash dividend (~VND 8,055 billion) and a 15% stock dividend. ACB’s plan includes a 7% cash dividend and a 13% stock dividend, totaling over VND 10,000 billion. SHB proposes a 6% cash dividend and a 10% stock dividend, while VIB’s plan includes a 9% cash dividend and a 9.5% stock bonus. The total cash payout from these six banks is estimated at nearly VND 34,000 billion.

Market Context

As of April 15, 2026, the affected stocks traded mixed: ACB closed at VND 24 (-0.62%), LPB at VND 48 (-0.52%), MBB at VND 27 (-0.37%), and VPB at VND 27 (unchanged). The banking sector has been under pressure from rising provisioning costs and regulatory changes, but strong dividend announcements signal confidence in capital adequacy and profitability. All six banks are listed on HOSE, the main exchange in Ho Chi Minh City.

Strategic Significance

The wave of cash dividends reflects the banks’ robust capital positions and commitment to shareholder returns, even as they pursue capital increases through stock dividends. LPBank’s aggressive 30% payout may pressure peers to maintain or raise dividend ratios. For long-term investors, the mix of cash and stock dividends offers both immediate income and potential dilution management. The total payout of nearly VND 34,000 billion underscores the banking sector’s ability to generate cash flow, which could support valuations amid a challenging operating environment.

What to Watch

• Shareholder approval at upcoming AGMs for each bank’s dividend proposal.
• Q2 2026 earnings reports to assess whether dividend payouts are sustainable given credit growth and NPL trends.
• Regulatory changes from the State Bank of Vietnam (SBV) regarding dividend caps or capital adequacy requirements.
• Foreign ownership limits and potential impact on dividend capture by foreign investors.
• LPBank’s ability to maintain high dividend payout without compromising capital ratios.