PGB

The State Bank of Vietnam (SBV) exempts 25 commercial banks from including social housing, industrial park, and export processing zone loans in real estate credit growth limits from January 1, 2026. This regulatory change supports targeted lending while maintaining overall credit controls, benefiting banks like ACB, BID, and CTG with expanded capacity for priority sectors.

BIDV and Sacombank each reported non-performing loans exceeding VND 40,000 billion in Q1 2026, contributing to an 11% sector-wide NPL surge to VND 292,160 billion. The broad-based deterioration in asset quality raises provisioning costs and pressure on net interest margins for most listed banks, with only three lenders showing improvement.

BIDV (BID) saw customer deposits fall by VND 82,031 billion in Q1 2026, the largest absolute decline among 12 listed banks reporting outflows. The sector-wide deposit contraction, concentrated among large private banks, contrasts with strong growth at HDBank and VPBank, highlighting divergent funding dynamics.

VPBank (VPB) reported Q1 2026 pre-tax profit of over 7,900 billion VND (+58% YoY), driven by strong credit growth and ecosystem contributions. The banking sector's aggregate profit rose 14% to 94,000 billion VND, with standout growth at VietinBank (+63%), BVBank (+170%), PGBank (+187%), and ABBank (+269%).

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. This performance follows management's stated goal to double profits and signals strong early execution in a competitive banking sector.

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. This aggressive growth plan follows a 2025 shortfall and hinges on credit expansion and digital transformation.

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.