Vietnam bank shares surge on earnings and new LDR rule

On 3 August 2026 the Vietnamese stock market rallied, with the VNINDEX gaining 1.56% to 1,762.84 points and the VN30 index rising 2.44% to 1,917.69 points. Bank stocks led the advance, with 22 of the 27 listed banks posting price gains. MBBank posted the strongest rise, up 6.67% to VND 24,000 per share and approaching its price ceiling, after announcing a dividend‑in‑share plan (15% payout) and a 10‑for‑1 rights issue at VND 10,000 per new share.

Other banks also posted solid gains of over 3%, including SHB, Techcombank, VietinBank, and HDBank. HDBank reported a Q2 pre‑tax profit of VND 13.2 trillion, a 31% increase year‑on‑year, with assets surpassing VND 1 million trillion and ROE at 25.4%. The bank also secured a US$721 million social‑loan facility, the largest of its kind from a Vietnamese issuer.

The rally was boosted by a new State Bank of Vietnam decision (effective 1 August 2026 to 31 July 2028) lowering the Treasury deposit deduction rate in LDR calculations from 80% to 50%, improving banks' liquidity ratios. This follows a weak July, when 26 of 27 bank stocks fell, the sector’s market capitalisation dropped 7.84% to VND 2.605 quadrillion, and only ABBank posted a gain.