Techcombank (TCB) posted a record Q1 2026 pre-tax profit of VND 8.869 trillion, up 22.5% year-on-year, driven by a 14.6% rise in net interest income and a historic surge in service fee income to VND 3.6 trillion. The bank improved its cost-to-income ratio to 28.3% and reduced its real estate loan exposure below 30%, signaling a strategic portfolio shift amid sector-wide competition for deposits.
Techcombank (TCB) posted a record Q1 2026 pre-tax profit of VND 8.9 trillion, a 22.6% year-on-year increase, driven by strong operating income growth. The bank also secured a EUR 200 million green financing agreement with the European Investment Bank to fund sustainable projects, reinforcing its strategic pivot towards digital leadership and diversified funding.
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%.
The Vietnamese securities sector set a new record for margin loan balances in Q1 2026, with total lending reaching nearly 423.7 trillion VND, while revenue from lending activities exceeded 11.2 trillion VND, boosted by high interest rates.
The State Bank of Vietnam signals monetary easing, prompting 29 commercial banks including Vietcombank (VCB), BIDV, and VietinBank to cut deposit rates. This shift is expected to improve liquidity and rapidly change investor psychology in the real estate market from defensive to ready-to-disburse, with mortgage rates potentially staying below 10% annually through year-end.
Foreign investors were net sellers of 639 billion VND (~$25.56 million) on the Vietnamese stock market, with net buying in Retail and IT sectors and net selling in Banking. Proprietary trading desks were net buyers of over 1 trillion VND.
Market liquidity improved slightly in the week of April 13-17, with capital flows concentrating in real estate and steel stocks, while financial and oil & gas stocks saw outflows.
The Vietnamese banking system faces a fundamental liquidity shortage, with deposit rates remaining high despite recent cuts of 0.1-0.5% by 30 banks since April 10. The State Bank of Vietnam has pressured 46 banks to lower rates, but system-wide loan-to-deposit ratios have risen from 95% in 2021 to 112% currently, indicating ongoing funding pressure that could impact net interest margins.
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.
The VN-Index rose over 19 points to close near 1,820, led by Vingroup stocks hitting new all-time highs, while foreign investors were net sellers of over VND 1,100 billion.
Vietcombank (VCB) cut its 24-month deposit rate by 0.5% to ~6% annually, part of a coordinated reduction by 29 commercial banks after the State Bank Governor's April 9 meeting. BIDV implemented the deepest cuts at 0.8-0.9% across terms, while joint-stock banks like VPBank and Techcombank followed with 0.3-0.5% reductions.
TCB's securities subsidiary TCBS reported Q1 2024 revenue of VND 2,783 billion, up 37% year-on-year, and pre-tax profit of VND 1,458 billion, up 11%, with margin lending contributing over half of revenue. The company targets full-year pre-tax profit of VND 7,535 billion, implying 19% of the annual plan is already achieved.