VPBankS keeps VND 25,400 target for Military Commercial Joint Stock Bank stock

Military Commercial Joint Stock Bank (ISIN VN000000MBB5) was covered by VPBank Securities with a VND 25,400 price target and Buy rating, as Nguoi Quan Sat reported on October 15, 2026. The target lies 28.61 percent above the stock's VND 19,750 HOSE price on October 19, 2026.

Three capital milestones

MB's capital expansion provides the clearest recent operating context. On September 25, 2026, the bank completed a capital increase that lifted charter capital above VND 100 trillion, according to Aveluro. On October 6, 2026, Vietnam News reported charter capital of nearly VND 100.7 trillion and total assets above VND 1.7 quadrillion as of June 30, 2026.

On October 15, 2026, MB's market information page listed a change in its establishment and operating license. The same official page also listed an October 6 update to the bank's charter capital, linking the regulatory record with the completed funding program.

What does the target mean for valuation?

VPBankS's VND 25,400 target stands against a VND 19,750 HOSE price, leaving a 28.61 percent implied gap. The analysis cited second-quarter 2026 consolidated pretax profit of VND 10.56 trillion, up 40.70 percent from the same quarter a year earlier, while first-half 2026 pretax profit reached VND 20.19 trillion, up 27.10 percent. It also identified a 4.10 percent net interest margin in the second quarter and credit growth of 13.20 percent in the first half.

Capital supports the growth plan

Vietnam News said MB was targeting outstanding credit of VND 1.5 quadrillion by the end of 2026 and a bad-debt ratio below 1.50 percent. At June 30, 2026, the bank's bad-debt coverage ratio stood at 94.00 percent on a consolidated basis, according to the same report. The figures frame the analyst target around both balance-sheet expansion and asset quality.

Stock stays tied to HOSE valuation

The last quoted HOSE price was VND 19,750 on October 19, 2026. The funding milestone and the profit figures provide the main reference points for the VND 25,400 target, while the next quarterly results will test whether first-half growth continued.

Market context: Latest market reports.

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Military Commercial Joint Stock Bank at a glance

• Company: Military Commercial Joint Stock Bank
• ISIN: VN000000MBB5
• Ticker: MBB
• Primary exchange: HOSE
• Last HOSE price: VND 19,750 on October 19, 2026
• Sector / Industry: Financials / Regional banks