High growth target
On the afternoon of April 20, VPBank Securities Joint Stock Company (VPBankS, HOSE: VPX) held the 2026 Annual General Meeting of Shareholders (AGM) with many important contents approved.
Assessing market prospects, VPBankS General Director Nham Ha Hai said that some macroeconomic risks still exist in 2026, but positive factors are expected to prevail. According to Mr. Hai, the Vietnamese stock market has a basis to enter a period of sustainable growth thanks to a stable macroeconomic foundation and breakthrough reform steps.
However, he also noted that geopolitical risks are still a variable to monitor because they can indirectly affect investor sentiment and foreign capital flows.
On that basis, VPBankS leaders said that the company aims for scale growth accompanied by efficiency, taking advantage of capital mobilization advantages and management capacity from the parent bank, along with the foundation built in 2025.
According to the plan presented at the congress, VPBankS sets a target for 2026 to achieve total revenue of 11,074 billion VND and pre-tax profit of 6,453 billion VND, an increase of 39% and 44% respectively compared to 2025.
Margin balance target to reach 50,000 billion VND by the end of the year
Regarding margin lending activities, Mr. Nham Ha Hai said that by the end of 2025, VPBankS's margin balance will reach about 34,000 billion VND. In the first quarter of 2026, this figure has exceeded 38,000 billion VND, thereby closely following the target of 50,000 billion VND by the end of the year.
VPBankS General Director said that the company is not under much pressure from the increased interest rate level thanks to successfully mobilizing nearly 13,000 billion VND of equity by the end of 2025. This capital source helps VPBankS maintain a competitive margin lending rate in the market.
In the context that the credit growth target of the banking system in 2026 is reduced to 15%, Mr. Hai said that capital flows tend to shift to the margin channel to compensate for investors' financial needs. VPBankS leaders also said that the company currently has room for margin lending of about 32,000 - 33,000 billion VND. This is a significant advantage in the context that many securities companies have almost reached the limit.
Motivation from the parent bank
At the congress, Mr. Nguyen Duc Vinh - Member of the Board of Directors cum General Director of VPBank - said that the rapid growth of VPBankS in nearly 4 years - from a capital level of 36 billion VND to the leading group in the market and serving 1.3 million customers - is the result of strategic orientation from the parent bank.
According to Mr. Vinh, one of the core drivers comes from the VPBank ecosystem, in which VPBankS plays an important role in completing the capital market structure. He believes that if commercial banks focus on short-term capital sources, securities companies take on the role of providing medium and long-term capital mobilization solutions, while bringing added value to customers in the financial ecosystem with nearly 10 member companies.
In addition, VPBank leaders also emphasized the support from strategic partner SMBC in many aspects, from financial resources to management systems and capital mobilization capacity. Thanks to the combination of the parent bank's reputation and SMBC, VPBankS has successfully carried out transactions to mobilize hundreds of millions of USD of international capital at optimal costs in the past two years.
On this platform, VPBankS is implementing the orientation to become a leading institution in the field of investment banking and asset management. The company continues to expand operations such as ECM, DCM and M&A, in which IPO consulting activities for large foreign-invested deals are considered clear evidence of capacity.
In the asset management segment, according to the plan shared at the congress, VPBankS is completing the service ecosystem and is expected to launch the Fund Management Company in May-June 2026. At the same time, prepare for a digital asset development strategy through cooperation with international blockchain technology corporations, ready to provide new financial products when the domestic legal corridor is completed.
VPBankS's 2026 Annual General Meeting of Shareholders also approved reducing the number of members of the Board of Directors for the 2022-2027 term from 4 to 3 members. The General Meeting also dismissed Mr. Vu Huu Dien and Mr. Nguyen Quang Trung according to their resignation letters.
Along with that, shareholders additionally elected Ms. Tran Ngoc Lan as an independent member of the Board of Directors. Ms. Lan is a Master of International Banking Management, has 14 years of experience and has held many positions at large banks and businesses.
Thus, the Board of Directors of VPBankS for the term 2022 - 2027 includes 3 members: Ms. Ho Thuy Nga holds the position of Chairman of the Board of Directors, Mr. Nguyen Luong Tan is a Member of the Board of Directors and Ms. Tran Ngoc Lan is an Independent Member of the Board of Directors.
