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Leaders of VPBank, SHB, and ACB used their annual shareholder meetings to discuss the outlook for Vietnam’s real estate market and to outline how their banks plan to manage credit risk in the sector over the coming period.
Assessing Vietnam’s real estate sector, VPBank Chairman Ngo Chi Dung said that while recent interest-rate increases have pressured the market, the sector still has substantial long-term growth potential.
He pointed to Vietnam’s urbanization rate of less than 40%, compared with around 77% in China, arguing that housing demand in Vietnam is likely to remain very large over the next 10–20 years.
VPBank’s leadership emphasized that the issue is not whether to invest in real estate, but how to choose the right segment. Chairman Ngo Chi Dung said real estate is not a single market and includes multiple segments such as resort properties, industrial parks, commercial real estate, and housing. Housing itself is further divided into social housing, mid-range, high-end, and ultra-high-end.
He said banks should focus on segments with real social demand, noting that some segments may serve investment needs while others meet living needs.
VPBank said it will continue to treat real estate as an important area, but will adjust its lending strategy to be more selective. The bank plans to prioritize segments linked to real demand and affordability for the majority of people.
VPBank CEO Nguyen Duc Vinh said the State Bank of Vietnam has tightened control of real estate lending to curb bubble risk and ensure financial security, which VPBank views as correct. He added that the bank will not “close the door” to real estate but will adjust its credit strategy.
According to VPBank, it will focus funding on housing projects that meet real demand, especially social housing and mid-market segments. In contrast, resort projects or high-end segments with speculative aims will have their funding limited.
Mr. Vinh also cited lessons from past financing of projects lacking legal status and capital that became stuck for 3–4 years, saying this has led VPBank to tighten its risk governance processes further.
At SHB’s annual meeting, Chairman Do Quang Hien said SHB’s share of real estate lending is relatively large, but the bank still adheres to State Bank regulations and safety standards.
He noted that ministries and local authorities are addressing stalled projects, which helps reduce resource waste.
Mr. Hien said real estate development has spillover effects to 41 sectors of the economy, supporting production and business activity, increasing revenue, and improving economic efficiency.
He added that SHB is financing national infrastructure projects and key projects in major cities including Hanoi, Da Nang, Ho Chi Minh City, and surrounding areas. He said these projects have high liquidity and support housing demand, particularly among young customers, as well as social housing and industrial real estate.
SHB’s leadership said these projects bring notable revenue and are expected to contribute positively to the bank’s profit growth in 2026 and subsequent years. Mr. Hien also reaffirmed that SHB consistently complies with current regulations and ensures system safety.
At ACB’s annual meeting, Chairman Tran Hung Huy highlighted the bank’s credit structure. ACB’s real estate lending currently accounts for less than 5% of total outstanding loans, a low level compared with many other banks.
ACB leadership said this ratio functions as a “safety buffer,” helping the bank mitigate risk when real estate market controls tighten.
ACB also said it sees opportunities in the current environment by proactively partnering with real estate companies with solid finances, especially in the mid-range housing segment—an area described as having real demand and less volatility.
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