BID

Foreign net selling in Vietnam reached VND 319,660 billion (USD 12.8B) over four years, with VND 80 trillion in H1 2026 alone. VDSC attributes outflows to USD strength, global AI/semiconductor shift, and trade uncertainty, but expects narrowing in Q3 as passive funds deploy from August 21 to September 21.

The State Bank of Vietnam (SBV) will remove regulations on interbank lending and deposit limits between credit institutions, following industry feedback. This simplifies compliance for banks like BID, LPB, and VCB, potentially increasing interbank market flexibility and reducing operational burdens.

The State Bank of Vietnam is finalizing a draft circular to replace Circular 22/2019 on safety limits and ratios, moving toward Basel III standards. Banks including ACB, VCB, BID, CTG, TCB, MBB, and VIB are actively discussing the draft at a risk management forum. The new rules will require tighter capital and liquidity management, potentially affecting profitability and dividend policies.

Nearly 70 state-owned enterprises, including major tickers like BID, VCB, GAS, ACV, and BSR, face delisting by January 1, 2027 if they fail to meet shareholder structure requirements. The State Securities Commission views this as a necessary screening process to support Vietnam's market upgrade to emerging market status, which could attract significant foreign capital.

ACB and BID face narrowing room for further interest rate cuts as credit growth (7.41%) outpaces deposit growth (5.02%) in H1 2026, pushing system LDR to 111-112%. The State Bank of Vietnam is expected to hold rates steady through year-end, limiting margin expansion for banks.

GMD saw proprietary trading desks net buy over VND 300 billion on July 20, accounting for nearly 70% of total proprietary net buying on HOSE. Foreign investors net sold VND 96 billion, with VCB leading the sell-off. The divergence highlights continued foreign outflow pressure while domestic institutions selectively accumulate logistics and real estate names.

GMD saw VND 300 billion in net buying from proprietary trading desks on July 20, the largest single-stock inflow, as VN-Index dropped 43.94 points. The buying partially offset foreign net selling of VND 86 billion across the market, signaling domestic institutional support for select blue chips.

The State Bank of Vietnam is accelerating Basel III implementation by replacing Circular 22/2019/TT-NHNN, which governs safety limits and ratios for banks. The new circular will directly impact major state-owned lenders Vietcombank (VCB), VietinBank (CTG), and BIDV (BID), potentially tightening capital requirements and influencing their lending capacity and profitability.

BID, CTG, and VCB will close shareholder lists next week to pay cash dividends of 4.5% each, totaling over 10,500 billion VND. The payouts, scheduled for August 2026, provide a yield of about 4.5% at current prices, reinforcing the banks' capital return policies.

SBV Governor Pham Duc An stated that interest rates are rising due to high credit demand and tight capital mobilization, directly impacting businesses. The central bank is considering expanding foreign currency lending and allowing commercial banks to manage assets for corporate bond issuance. This macro policy shift affects major banks including VPB, BID, CTG, VCB, and TPB.