Vietnam's VPBank to issue shares to foreign partner, plans crypto exchange launch by June (updated)

VP Bank AG

22/04/2026 10:33

Adds detail, background

HANOI, April 22 (Reuters) - Vietnam Prosperity JSC Bank (VPBank) VPB.HM plans to raise its core capital to more than 106 trillion dong ($4.03 billion) by 2026 through a two-phase share issuance, including a private placement to a foreign investor expected in the second half of this year, its chairman said on Wednesday.

VPBank will sell more than 624 million shares to a foreign investor, potentially an existing strategic partner or another qualified institution, as part of its charter capital increase.

The bank is in talks with the partner on the share price, its chairman Nguyen Chi Dung told shareholders, adding that the transaction is expected to be completed in the second half of this year.

Proceeds will be used mainly to expand lending as Vietnamese banks ramp up competition, with capital strength seen as key to growth, Dung added.

Vietcap Securities predicted that foreign ownership in the bank could increase from 25% to 34%.

Vietnam caps foreign ownership in the banking sector at 30%. However,
the government allows
 foreign ownership at a bank involved in compulsory-transfer restructuring to rise above 30% and up to 49%. VPBank in 2025
took over the distressed GPBank
.

VPBank in 2023
sold a 15% stake for $1.5 billion
 to Sumitomo Mitsui Financial Group Inc 8316.T.

Chairman Dung also said VPBank's crypto exchange, CAEX, will be up and running by June.

The bank targets consolidated assets of 1.63 quadrillion dong in 2026, up 29% year-on-year, and credit growth of 34%, while keeping its non-performing loan ratio below 2.5%.

By the end of 2025, VPBank was the country's largest private bank by assets.

($1 = 26,285 dong)

 (Reporting by Khanh Vu and Phuong Nguyen; Editing by David Stanway)

 ((khanh.vu@thomsonreuters.com; +84 24 38259623;))