VAB

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%.

VietABank (VAB) posted Q1 2026 pre-tax profit of VND 508 billion, a 44% year-over-year increase, propelled by a 64% jump in net service income. The bank's strategic push into digital payments and SME banking, including the launch of an integrated business account with VNPAY, is reshaping its revenue mix as service income now contributes 8.4% of total net revenue.

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.