MBS sets VND 74,500 target for Vietcombank stock

Published on 10/25/2026 at 02:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half pretax profit reached VND 29.222 trillion, up 33.00 percent. Vietcombank stock's net interest margin rose 31 basis points.

Earnings signals

MBS set a VND 74,500 target for Vietcombank on October 24, 2026.
First-half 2026 pretax profit reached VND 29.222 trillion, up 33.00 percent year over year.
Vietcombank's net interest margin reached 2.92 percent in the first half of 2026.

Vietcombank, VN000000VCB4, Illustration mit AI erstellt.

Vietcombank (VN000000VCB4) received a VND 74,500 price target from MBS in a report dated October 24, 2026. The target is paired with forecasts for VND 19.571 trillion in third-quarter net interest income and VND 43.789 trillion in nine-month pretax profit, according to Business Forum.

Profit growth supports the case

Vietcombank reported VND 29.222 trillion in pretax profit for the first half of 2026, up 33.00 percent from the year-earlier period. Its total operating income reached VND 47.551 trillion, an increase of 35.00 percent, and represented 63.00 percent of the bank's full-year plan, according to DSC Research.

The earnings quality also rests on margin and credit metrics. Net interest margin rose 31 basis points year over year to 2.92 percent in the first half of 2026, while the non-performing loan ratio stood at 0.61 percent and the loan-loss coverage ratio reached 279 percent, the same report said.

Three dated signals shape valuation

On September 25, 2026, Vietcap lowered its target to VND 76,500 while raising its 2026-2030 profit forecasts by 5.60 percent in aggregate. On September 28, 2026, DSC Research set a VND 75,000 target after reporting second-quarter total operating income of VND 26.372 trillion, up 48.00 percent year over year. On October 24, 2026, MBS set its VND 74,500 target and forecast nine-month pretax profit of VND 43.789 trillion, according to Business Forum, DSC Research and Business Forum.

What does the target mean?

The target range points to a valuation debate rather than a single earnings outcome. MBS expects Vietcombank's credit growth to reach 9.00 percent year to date by the end of the third quarter and forecasts a 3.00 percent net interest margin, while the bank's first-half margin was 2.92 percent.

Listing and valuation context

Vietcombank trades under ticker VCB on the Ho Chi Minh City Stock Exchange, and the listing is identified with ISIN VN000000VCB4 by Global Banking and Finance Review. The bank's investor-relations calendar identifies July 30, 2026, as the disclosure date for its second-quarter financial statements and August 12, 2026, as the earnings call date for those results, according to Vietcombank.

Growth meets a lower target

Vietcombank combines 33.00 percent first-half pretax profit growth with analyst targets between VND 74,500 and VND 76,500. The key valuation question is whether margin expansion can support the credit growth assumptions behind those targets.