Banks step up listing plans in 2026 to strengthen capital and transparency

Banks step up listing plans in 2026 to strengthen capital and transparency

Vietnam's stock market is poised for a notable shift in 2026 as several banks plan to move from UPCoM to HSX, signalling stronger financial capacity, higher transparency standards, and wider access to capital.

This move reflects the growing scale and financial capacity of these banks, and highlights a broader shift towards higher listing standards at a time when the capital market is placing increasing emphasis on transparency and the quality of listed assets.

Among the banks that have announced concrete plans, Kien Long Commercial Joint Stock Bank stands out as having the most clearly defined timetable.

Under its disclosed roadmap, KLB shares will have their final trading session on UPCoM on January 6, closing more than eight years of presence on that market.

More than 578 million shares currently in circulation will be transferred for listing on HSX. On the market, KLB shares are trading at around VND16,400 (about $0.66) per share, up over 40 per cent from the end of 2024, lifting the bank's market capitalisation to approximately $376 million.

The positive performance of KLB shares has gone hand in hand with a marked improvement in business results in 2025.

For the first nine months of the year, the bank posted pre-tax profit of around $61.5 million, up double on-year and about 12 per cent above the full-year target.

Total assets as of the end of the third quarter had reached nearly $3.9 billion, while the non-performing loan ratio was kept at 1.93 per cent, underscoring efforts to strengthen asset quality alongside expanding operations.

At the same time, Ban Viet Commercial Joint Stock Bank (ticker BVB) is also working on a plan to list its shares on HSX in 2026, tied to a capital increaseaimed at bolstering financial capacity.

Specifically, the bank plans to raise an additional $140 million in charter capital, bringing total capital to nearly VND10 trillion (around $400 million), through the issuance of more than 320 million shares to existing shareholders and roughly 30 million shares under an employee stock ownership plan (ESOP).

At the end of October, Ban Viet reported pre-tax profit of approximately $20.2 million, completing about 92 per cent of its annual target.

Total assets stood at around $5.1 billion, up more than 23 per cent from the end of the previous year, laying the groundwork for long-term growth objectives for the 2026-2030 period, with asset size targeted at nearly VND300 trillion (about $12 billion).

Meanwhile, Viet Nam Thuong Tin Commercial Joint Stock Bank has approved a plan to transfer the listing of its VBB shares from UPCoM to HSX, with completion scheduled no later than the first quarter of 2026.

Under the plan, more than 1.07 billion shares will be brought onto HSX, at a time when VBB shares are trading at around VND10,300 (about $0.41) per share, corresponding to a market capitalisation of roughly $440 million.

Business results for the first nine months of 2025 show the bank recorded pre-tax profit of around $34.6 million, up 6 per cent on-year, while total assets rose 16 per cent from the outset of the year to approximately $7.5 billion.

The non-performing loan ratio also showed signs of improvement, edging down slightly compared with the start of the year.

The concerted push by banks to pursue HSX listings is widely seen as a strategic step in upgrading their standing in the capital market.

Compared with UPCoM, HSX imposes stricter requirements on information disclosure, corporate governance, and financial standards, creating pressure to enhance operational quality while at the same time opening up wider access to domestic and international capital flows.

Against the backdrop of rising medium- and long-term capital needs, particularly to meet capital adequacy requirements and support business expansion, the shift to HSX is expected to help banks improve share liquidity, raise transparency, and create more favourable conditions for fundraising plans.

VIR