PGB

VPBank (VPB) reduced deposit interest rates by 0.3%-0.5% for 6-36 month terms online, following a State Bank of Vietnam directive that prompted 30 domestic commercial banks to cut rates by 0.05% to 1% annually. This coordinated easing aims to lower funding costs and support credit growth, with state-owned BIDV implementing the deepest cuts of 0.8%-0.9%.

PGBank (PGB) reported Q1 2026 pre-tax profit of VND 275.7 billion, nearly triple the VND 96 billion from Q1 2025, achieving nearly 20% of its annual plan. The growth was driven by a 59.7% surge in non-interest income to VND 118.4 billion and a cautious credit strategy.

PGBank (PGB) targets 2026 pre-tax profit of VND 1,438B, a 97.9% increase from 2025, alongside plans to raise charter capital to VND 10,000B and prepare resources to acquire a securities company. The ambitious growth plan focuses on credit expansion to SMEs and retail, with a minimum 12% ROE target, signaling a strategic push into diversified financial services.

PGBank (PGB) approved a 2026 business plan targeting VND 1,438B in pre-tax profit, a 97.9% increase from 2025, alongside a 7.5% cash dividend. The bank also proposed raising its charter capital to VND 10,000B through a share issuance.

The State Bank of Vietnam (SBV) net withdrew VND 71,563 billion from the banking system via open market operations (OMO) in the week of April 13-17, 2026, while 30 commercial banks including VPBank (VPB) cut deposit rates by 0.1-0.5 percentage points. This coordinated action, following an SBV meeting, signals a deliberate easing of funding costs and system liquidity, potentially supporting bank net interest margins as pressure from the USD/VND exchange rate subsides.

Over 20 Vietnamese commercial banks, led by major state-owned and private institutions, have simultaneously reduced deposit rates by up to 0.5% per annum, following a directive from the State Bank of Vietnam (SBV) on April 9. This coordinated move is expected to pave the way for a broader reduction in lending rates, with early movers like Agribank and Nam A Bank already cutting loan rates by 0.5-3.0% to support economic recovery.

The stock market started the week positively, with the VN-Index rising, led by banking stocks such as TCB and VPB gaining over 3% and 2% respectively.