PGB

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.

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.