SHB, OCB, TCB Report Strong Q1 2026 Pre-Tax Profit Growth

Overview

Multiple Vietnamese banks disclosed Q1 2026 earnings on April 23, with SHB, OCB, and Techcombank (TCB) reporting strong year-on-year pre-tax profit growth of 7%, 37%, and 22.5% respectively. Sacombank (STB) reported declines in total assets and deposits, indicating sector divergence. These results provide early indicators of banking sector health amid competitive deposit mobilization and regulatory shifts.

Key Facts

• SHB (HOSE) reported Q1 2026 pre-tax profit of VND 4,660 billion, up 7% YoY, with total assets at VND 930,900 billion (+4.4% from end-2025).
• OCB’s Q1 pre-tax profit reached VND 1,224 billion, a 37% YoY increase, with total assets at VND 344,098 billion (+6.5% from start of year).
• Techcombank (TCB) achieved a record Q1 pre-tax profit of VND 8,869 billion, up 22.5% YoY, with net interest income (NII) of VND 9,500 billion (+14.6% YoY).
• Sacombank (STB) reported total assets of VND 861,000 billion, down VND 57,000 billion, and total deposits of VND 776,000 billion, down VND 60,000 billion.
• SHB’s capital adequacy ratio (CAR) stood at 12.6%, with a loan-to-deposit ratio (LDR) of 77% and liquidity reserve ratio of 17%.
• Techcombank reduced its real estate loan portfolio to 28.9% of total loans, below the 30% regulatory threshold.
• Sacombank’s Q1 pre-tax profit was VND 3,572 billion, achieving 44% of its annual plan.

What Happened

According to earnings disclosures on April 23, 2026, SHB, OCB, and Techcombank delivered robust Q1 performance. At SHB’s Annual General Meeting on April 22, management reported pre-tax profit growth of 7% year-on-year to VND 4,660 billion, alongside asset growth to VND 930,900 billion. The bank highlighted maintenance of safety ratios per State Bank of Vietnam (SBV) regulations, with CAR at 12.6% and LDR at 77%, well below the 85% cap. OCB’s profit surged 37% to VND 1,224 billion, supported by asset growth of 6.5% from the start of the year. Techcombank reported a record Q1 pre-tax profit of VND 8,869 billion, up 22.5% YoY, driven by a 14.6% increase in net interest income to VND 9,500 billion and a historical high in non-funded income (NFI) of VND 3,600 billion.

In contrast, Sacombank’s leadership stated at its AGM on April 22 that liquidity challenges and rising deposit rates led to a decline in total assets to VND 861,000 billion, down VND 57,000 billion, and deposits to VND 776,000 billion, down VND 60,000 billion. The bank’s pre-tax profit reached VND 3,572 billion, meeting 44% of its annual plan, achieved through cost optimization efforts. The filings indicate a mixed sector picture, with some banks navigating deposit competition better than others.

Market Context

SHB trades on the Ho Chi Minh Stock Exchange (HOSE) and closed at VND 15 on April 15, 2026, down 0.33% with volume of 27.7 million shares. OCB (HOSE) closed at VND 12 (-0.86%), TCB (HOSE) at VND 32 (-0.16%), and STB (HOSE) at VND 64 (-2.57%). The earnings releases come amid a period of modest price movements for these banking stocks, with investors likely assessing the impact of SBV’s credit growth caps and deposit rate competition. Techcombank’s record profit and SHB’s solid ratios may attract attention relative to Sacombank’s asset contraction.

Strategic Significance

The results underscore divergent strategies within Vietnam’s banking sector. SHB and Techcombank demonstrate resilience through balanced growth and portfolio optimization—Techcombank’s reduction of real estate exposure to 28.9% aligns with regulatory priorities and risk management. OCB’s strong profit growth suggests effective scaling from a smaller asset base. Sacombank’s challenges highlight the pressure from liquidity tightness and deposit competition, which could affect margins and market share. For long-term investors, the ability to maintain profitability while managing asset quality and regulatory compliance remains a key differentiator.

What to Watch

• Full Q1 2026 financial statements and management discussion from SHB, OCB, TCB, and STB, expected in the coming weeks.
• SBV’s Q2 2026 credit growth allocations and any adjustments to deposit rate policies.
• Subsequent quarterly earnings to see if Sacombank’s asset and deposit trends reverse or persist.
• Updates on Techcombank’s non-funded income growth and SHB’s capital position ahead of potential expansion.
• Broader banking sector earnings from larger state-owned banks like Vietcombank (VCB) and BIDV (BID) for comparative analysis.