Banking sector 2026 AGM season: capital-raising plans, leadership changes, and VIFC participation

April 2026 is set to be the most active period in Vietnam’s financial markets as commercial banks enter the annual general meeting (AGM) season. Compared with the cautious stance seen in the previous year, banks’ AGM plans this time emphasize a brighter outlook built around four pillars: profit growth, capital expansion, international reach, and strengthened governance.

Surging profit targets

Banks’ profit growth targets for 2026 range from 15% to nearly 40%, supported by expectations for economic recovery and an improving net interest margin (NIM).

Eximbank (EIB) is the focal point, setting a 2026 pretax profit target of 4,066 billion VND, up 169% year-on-year.

VPBank (VPB) targets pretax consolidated profit of 41,323 billion VND, up 35% from the previous year. OCB aims for 6,960 billion VND, up 39%.

On March 20, 2026, Nam A Bank (NAB) AGM approved a pretax profit target of 6,200 billion VND, up 18% year-on-year, with total assets expected to reach 480,000 billion VND. BVBank (BVB) also set a pretax profit target of 700 billion VND, up 34%.

Plans for 2026 business results

Private banks’ capital-raising race

To support profit targets and meet higher capital adequacy requirements, capital increases remain the top priority among private banks.

VPBank plans to issue more than 2 billion shares to raise capital from retained earnings for existing shareholders, with a 26.04% issue ratio. The move would lift charter capital from 79,339 billion VND to 100,000 billion VND, strengthening its capital buffer and potentially positioning VPBank to surpass Vietcombank in charter capital.

Nam A Bank plans to increase capital from 17,157 billion VND to over 22,588 billion VND through multiple channels: issuing 343.1 million shares as 20% stock dividends, issuing 100 million shares for employees (ESOP) at 4.857%, and offering 100 million shares via private placement.

OCB plans to raise capital to more than 30,625 billion VND, up 15%. BVBank aims to approach 10,000 billion VND, up 55%, as part of preparations for listing on HOSE.

International reach via VIFC

Beyond strengthening internal capacity, banks’ 2026 strategic outlook also targets global markets through the Vietnam International Financial Center (VIFC) project.

Nam A Bank has approved establishing a 100% domestic member bank operating within VIFC. As a strategic investor in VIFC - HCMC, Nam A Bank intends to leverage the regulatory regime to attract foreign capital and expand cross-border financial services.

Market chatter suggests other major banks, including Vietcombank, VietinBank, HDBank, and TPBank, are studying and seeking shareholder approval to participate in VIFC. If realized, the development could shift Vietnam’s banking landscape from primarily domestic competition toward more active connection with global capital flows.

Strengthening senior management and governance

Leadership and governance changes are also prominent at many AGMs.

At Nam A Bank, the new board of directors for the 2026–2031 term will include seven members, featuring new faces and two independent directors to strengthen risk governance.

At OCB, management will propose appointing one additional independent director to improve objective oversight.

Eximbank (EIB) plans to appoint replacements on the board and audit committee for the VIII term (2025–2030), increasing the board size to seven with at least two independent directors.

Nam A Bank and Sacombank also outline additional governance and strategic considerations, including potential name changes, relocation of headquarters, and extended restructuring plans.