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%.
Vietnamese banks are accelerating foreign capital attraction, with notable events including BIDV's successful private placement and plans for Vietcombank to sell a 6.5% stake, potentially raising $1.3-1.4 billion, alongside moves by VPB and SHB.
Foreign investors were net sellers of approximately 421 billion VND (~$16.84 million) on the session, with proprietary trading by securities companies also showing significant net selling in specific stocks like FUEVFVND and HPG.
MBB reported Q1 2026 consolidated pre-tax profit of VND 9,500B (+13.3% YoY) and added 1.2 million customers, while ACB, NAB, and VPB posted YoY gains of 17%, 32.5%, and 58%, respectively. The results, disclosed at recent AGMs, highlight continued profit momentum across mid-sized Vietnamese banks, with VPB leading growth on a 26.3% rise in total operating income.
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.
On April 20, proprietary trading desks of securities firms made a surprise net purchase of 1 trillion VND on HOSE, the highest in a month, focusing on large caps like VHM and MSN, while foreign investors maintained a modest net buy of 228 billion VND but were net sellers of 639 billion VND including block trades.
VPBank Securities (VPBankS) targets a 47% increase in margin loan balance to 50 trillion VND for 2025, with its CEO citing strong investor demand and ample lending capacity as competitive advantages.
Securities company proprietary trading desks were net buyers of VND 1.068 trillion on HoSE, with VHM being the top net buy, while foreign investors returned to net selling VND 629 billion across the market.
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.
Foreign investors returned to net selling 629 billion VND across the market, with the strongest net sell pressure on VIC at approximately 879 billion VND, while net buying was strongest for SSI and MWG.
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.
VPBank (VPB) reported 2025 pre-tax profit of VND 26,364 billion, a 44.4% year-on-year increase, alongside a 26% rise in operating income. The bank's average employee income grew 32.5% to VND 41.17 million per month, while total assets expanded by over 33% to VND 1.17 quadrillion, reflecting strong operational scaling and cost control.
VPBank plans a private placement of over 620 million shares to a foreign investor in Q3-Q4 2026, aiming to increase its charter capital to over VND 106.2 trillion.