VPBank Securities board member Nguyen Luong Tan resigns amid strong H1 results

Overview

Nguyen Luong Tan, a member of the board of directors and head of the investment banking center at VPBank Securities (VPBankS), has submitted his resignation for personal reasons. The resignation will take effect once approved by the shareholders’ meeting. This leadership change comes as VPBankS reports robust first-half 2026 results, with revenue and profit nearly tripling year-on-year.

Key Facts

• Nguyen Luong Tan, born 1981, serves as board member and Director of the Investment Banking Center at VPBankS.
• Resignation effective upon approval by the General Meeting of Shareholders.
• H1 2026 total revenue reached VND 7,013 billion, nearly four times higher than the same period last year.
• Pre-tax profit for H1 2026 was VND 2,673 billion, roughly tripling year-on-year and exceeding the six-month plan.
• Margin lending revenue contributed VND 1,904 billion, up nearly three times, accounting for 27% of total revenue.
• Investment banking revenue exceeded VND 1,176 billion, with nearly VND 19,000 billion in corporate bond issuance advisory.
• Proprietary trading gains from FVTPL assets reached VND 3,461 billion, nearly doubling year-on-year.

What Happened

VPBank Securities (VPBankS) announced that it received a resignation letter from board member Nguyen Luong Tan. In the letter, Tan cited personal reasons for his inability to continue serving on the board. The resignation will take effect after approval by the shareholders’ meeting, as per the company’s announcement.

Tan, who also holds the position of Director of the Investment Banking Center, has been a key figure in VPBankS’s investment banking activities. His departure comes at a time when the company is reporting exceptional financial performance. In the first half of 2026, VPBankS recorded total revenue of VND 7,013 billion, nearly four times higher than the same period in 2025, driven by strong contributions from core business segments. Margin lending generated VND 1,904 billion, up nearly three times, while brokerage revenue exceeded VND 260 billion, more than doubling. The investment banking segment contributed over VND 1,176 billion in revenue, supported by advisory work on nearly VND 19,000 billion in corporate bond issuances. Proprietary trading also performed well, with FVTPL gains reaching VND 3,461 billion.

Market Context

VPB, the parent bank listed on HOSE, closed at VND 25,150 on August 6, 2026. The securities subsidiary’s strong results reflect a broader uptrend in Vietnam’s capital markets, with increased retail participation and corporate bond issuance. The resignation of a senior board member may raise governance questions, but the company’s operational momentum appears unaffected. The securities sector has been a bright spot, with many firms reporting record profits due to higher trading volumes and margin lending demand.

Strategic Significance

For long-term investors, the resignation of Nguyen Luong Tan is a notable governance event, but the underlying business fundamentals of VPBankS remain strong. The company’s investment banking franchise, which advised on nearly VND 19,000 billion in bond issuances, is a key growth driver. The leadership change could signal a shift in strategic direction, but the company’s ability to deliver nearly tripled profits suggests a resilient business model. Investors should monitor whether the company can sustain its growth trajectory and how it manages the transition in its investment banking leadership.

What to Watch

• Approval of the resignation at the next shareholders’ meeting and any subsequent board appointments.
• Q3 2026 earnings release to see if revenue and profit growth continue at the same pace.
• Updates on the investment banking pipeline, including new bond issuance mandates.
• Any changes in strategic focus or management structure following the departure.
• Regulatory filings or announcements regarding the succession plan for the Investment Banking Center.