VNDIRECT keeps VND 30,500 target for VPBank stock

Published on 10/13/2026 at 09:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

In the first half of 2026, loans rose 40.10 percent year on year. VPBank stock had VND 234.0 trillion market value on October 8, 2026.

Key points in brief

VNDIRECT maintained a VND 30,500 target for VPBank stock on October 13, 2026.
VPBank lending rose 40.10 percent year on year in the first half of 2026.
SSI Research forecast VND 38,800 billion in 2026 pre-tax profit after VND 18,900 billion in the first half.
VPBank had VND 234.0 trillion in market capitalization as of October 8, 2026.

VPBank, VN000000VPB6, Illustration mit AI erstellt.

VNDIRECT maintained a VND 30,500 price target for VPBank stock on October 13, 2026, according to Nguoi Quan Sat. The assessment rests on first-half lending growth of 40.10 percent year on year and projected 2026 pre-tax profit of VND 39,567 billion, while VPBank continues to expand its financial-services ecosystem.

What supports the target?

The first-half loan figure gives the target a concrete operating anchor. Nguoi Quan Sat reported that non-interest income rose 65.00 percent year on year in the first half of 2026, while VPBank Securities generated approximately VND 1,200 billion from bond advisory and issuance activity in the second quarter.

The comparison with the industry is also material: VPBank lending increased 40.10 percent year on year, versus 7.70 percent for the sector in the first half of 2026. VNDIRECT projected 2026 pre-tax profit of VND 39,567 billion, up 29.20 percent, followed by VND 48,507 billion in 2027, up 22.60 percent, according to Nguoi Quan Sat.

Three dated operating milestones

On June 30, 2026, VPBank signed a three-year sustainability-linked syndicated loan worth USD 1.44 billion and a separate USD 350 million medium-term loan, according to Nguoi Quan Sat. On October 6, SSI Research raised its 2026 pre-tax profit forecast to VND 38,800 billion from VND 37,200 billion, a 27.00 percent increase from the prior forecast. On October 13, VNDIRECT maintained its VND 30,500 target while pointing to lending and non-interest income growth.

Risks remain tied to funding

SSI Research reported that consolidated pre-tax profit reached VND 18,900 billion in the first half of 2026, up 68.00 percent year on year, while the second-quarter figure reached VND 11,000 billion, up 76.00 percent. The same report placed the second-quarter net interest margin at 5.18 percent, down from 5.31 percent in the first quarter, and said the parent bank loan-to-deposit ratio stood at 84.50 percent against an 85.00 percent regulatory limit.

That combination creates a clear investor tension: credit growth is running ahead of the sector, but funding costs and asset quality remain key variables. SSI Research projected a 2027 pre-tax profit of VND 46,500 billion, up 19.70 percent, while highlighting slower recovery at FE Credit and potential pressure on net interest margin.

Next date for results

Investing.com lists October 21, 2026 as VPBank's next earnings date. That event should give investors a fresh test of whether first-half loan growth can continue without a comparable deterioration in funding efficiency.

Market value at the latest reference

VPBank's market capitalization was VND 234.0 trillion on October 8, 2026, according to the State Securities Commission. The figure places the bank's operating expansion against a clearly dated equity value and leaves the VND 30,500 target as the main current analyst reference.

Market context: Latest market reports.