ABBank (ABB) Plans VND 6,273B Capital Raise and HoSE Uplift by 2026

Overview

ABBank (ABB) has outlined a comprehensive growth plan for 2026, including a VND 6,273 billion capital increase and a proposal to uplist from the UpCOM to the HoSE exchange. The bank targets a pre-tax profit of VND 4,500 billion for 2026, building on a record 2025 performance. This strategic shift aims to fund credit expansion and enhance market visibility.

Key Facts

• Plans a three-phase capital increase totaling VND 6,273 billion to raise charter capital to over VND 20,245 billion.
• Proposes uplisting from UpCOM to HoSE, with application submission targeted for September 2026 and first HoSE trading in Q4 2026.
• Sets a 2026 pre-tax profit target of VND 4,500 billion, which is 128% of its 2025 result.
• Aims for 2026 total assets of VND 291,000 billion, customer deposits of VND 247,417 billion, and credit outstanding of VND 138,930 billion.
• Reported a record 2025 pre-tax profit of VND 3,522 billion, a 352.4% year-on-year increase.
• Maintained a low non-performing loan (NPL) ratio, targeting below 1.5% for 2026.
• Capital increase phases: Phase 1 (Q3 2026): 15% stock dividend; Phase 2 (Q4 2026): 20% rights issue at VND 10,000/share; Phase 3 (2027): 5% ESOP.

What Happened

According to documents prepared for its 2026 Annual General Meeting of Shareholders, scheduled for April 28, ABBank’s Board of Directors will propose a VND 6,273 billion capital increase plan. The plan is structured in three phases: a 15% stock dividend from retained earnings in Q3 2026, a 20% rights offering to existing shareholders at VND 10,000 per share in Q4 2026, and a 5% Employee Stock Ownership Plan (ESOP) issuance in 2027. The bank stated that the proceeds will be used to supplement credit activities and meet customer borrowing demand.

Concurrently, ABBank proposed a roadmap to transfer its listing from the UpCOM exchange to the HoSE. The bank plans to submit its listing registration dossier to the Ho Chi Minh City Stock Exchange (HoSE) in September 2026. If approved, the first trading session on HoSE is expected to commence in Q4 2026. The bank also set ambitious financial targets for 2026, including a pre-tax profit of VND 4,500 billion, which represents a 28% increase over its 2025 result of VND 3,522 billion.

Market Context

ABBank (ABB) is currently listed on the UpCOM exchange. The stock closed at VND 15 on April 10, 2026, with a trading volume of 550,000 shares. The proposed uplist to HoSE, Vietnam’s main bourse, could potentially improve liquidity, attract a broader institutional investor base, and enhance the stock’s valuation profile. The capital raise and growth targets come after the bank reported a transformative 2025, with pre-tax profit surging 352.4% year-on-year to VND 3,522 billion, supported by digital transformation and cost optimization.

Strategic Significance

The plan signals ABBank’s transition from a restructuring phase into an aggressive growth cycle. The capital injection is explicitly earmarked for expanding its loan book, directly targeting market share gains in a competitive banking sector. The uplist to HoSE is a critical step to improve corporate governance standards and access deeper capital pools, which could lower future funding costs. The 2026 profit target of VND 4,500 billion, while ambitious, is built upon the demonstrated operational leverage from its digital initiatives, as evidenced by its 2025 cost-to-income ratio of 35.4% and return on equity of 18.3%.

What to Watch

• Shareholder approval of the capital increase and uplist proposal at the Annual General Meeting on April 28, 2026.
• Execution timeline for the three-phase capital raise, particularly the Q3 2026 stock dividend and Q4 2026 rights issue.
• Formal submission of the HoSE listing application in September 2026 and regulatory approval.
• Quarterly financial reports in 2026 to track progress toward the VND 4,500 billion pre-tax profit target and asset growth metrics.
• Movement in the bank’s non-performing loan ratio against its sub-1.5% target.