OCB

VPS Securities (VCK) completed a VND 9,131B capital increase via a bonus share issuance, raising its charter capital to VND 24,349B. This is part of a broader VND 24,300B capital raise by four securities firms, including DSE, VCI, and OCBS, aimed at strengthening balance sheets in anticipation of Vietnam's potential reclassification by FTSE from Frontier to Secondary Emerging market.

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.

OCB's Chairman expressed confidence in the bank's undervalued stock price and announced a 2026 pre-tax profit target of VND 6,960 billion, representing 39% growth, alongside plans to increase charter capital and ROE.

OCB's Chairman explains low stock price due to lower ROE, sets a target for ROE above 15%, and announces a pre-tax profit target of 6,960 billion VND for the year, representing a 40% increase.

OCB leadership outlined a 39% profit growth target to VND 6,960B for 2026 at its annual shareholder meeting, citing expansion into agriculture and services, SME/FDI lending, and enhanced fee-based income. The bank also emphasized strict asset quality control to manage NPL risks amid global economic headwinds.

OCB's 2026 Annual General Meeting approved a 2026 net profit target of VND 6,960 billion, representing 39% growth compared to 2025, alongside a plan to increase charter capital to over VND 30,600 billion. The bank aims to support this growth with a 15% stock dividend and targets for total assets, deposits, and loans to rise 10%, 14%, and 15% respectively, focusing on SME and green credit segments.

Over 20 Vietnamese commercial banks, led by major state-owned and private institutions, have simultaneously reduced deposit rates by up to 0.5% per annum, following a directive from the State Bank of Vietnam (SBV) on April 9. This coordinated move is expected to pave the way for a broader reduction in lending rates, with early movers like Agribank and Nam A Bank already cutting loan rates by 0.5-3.0% to support economic recovery.

The Vietnamese banking sector, after experiencing its weakest period in three years, shows signs of recovery with recent stock gains and a positive 2026 growth outlook. Analysts project double-digit profit growth for the sector, which is expected to support the overall market, despite recent increases in interbank rates.

Banking stocks rebounded strongly at market open, with TCB, CTG, VIB, STB, and HDB rising over 2%, and BID, MBB, ACB, OCB gaining over 1%, led by TCB's over 3% increase. The rally signals a potential shift in sector sentiment after recent pressure, with TCB emerging as the leader within the VN30 group.

Dr. Le Xuan Nghia, a respected economist and former senior state bank official, has joined the Board of Directors of Orient Commercial Joint Stock Bank (OCB) as an independent member.

OCB plans to appoint Dr. Le Xuan Nghia, a former deputy chairman of the National Financial Supervisory Commission, as an independent board member for the 2025-2030 term, pending shareholder approval at the April 15 AGM.