Bustling bond issuance
According to information from the Hanoi Stock Exchange (HNX),VIB announced the successful offering of 1,575 bonds with code VIB12505. With a face value of 1 billion VND per bond, the total value collected reached 1,575 billion VND.
On September 26, VIB also successfully issued VIB12504 bonds worth VND2,452 billion. In September, this bank successfully issued bonds worth VND2,000 billion, and since the beginning of the year, there have been 5 bonds worth VND8,227 billion.
Not long before, Loc Phat Vietnam Bank ( LPBank , stock code: LPB) sent a document to the State Securities Commission, Vietnam Stock Exchange, Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange announcing the Resolution of the Board of Directors related to the bond issuance plan.
Specifically, LPBank plans to issue individual bonds in 2025, with issuance interest rates and issuance-related costs, with a total expected volume at par value of VND12,000 billion. The bank also plans to offer 2 lots of bonds to the public.
Or on August 12, Orient Commercial Joint Stock Bank (OCB ) also announced the successful issuance of 2,000 bonds code OCB12515, face value 1 billion VND/bond, total issuance value 2,000 billion VND.
Bac A Commercial Joint Stock Bank (Bac A Bank, stock code: BAB) also successfully mobilized a batch of bonds with code BAB12504 with a volume of 1,000 units. The face value of each bond is 1 billion VND, equivalent to the total amount mobilized of 1,000 billion VND. Since the beginning of the year, this bank has successfully mobilized a total of 4,000 billion VND in bonds.
Military Commercial Joint Stock Bank (MB, stock code: MBB) has completed the private offering of 20,000 bonds under the code MBB12520, with an issuance volume of 20,000 units, par value of VND 100 million/bond, equivalent to a total issuance value of VND 2,000 billion. Since the beginning of 2025, this bank has issued 20 bond lots, starting from April.
In general, banks increased bond issuance in 2025, in parallel with early repayment of many previous bond lots.

Banks are bustling with bond issuance (Photo: DT).
Surpassing the real estate group in total mobilized value
In fact, commercial banks have been the ones mobilizing the most through bonds in recent years, second only to the real estate group. Data from the Vietnam Bond Market Association (VBMA) in September showed that banks were the leaders in issuance value, reaching more than VND17,000 billion.
In the past 9 months, the value of corporate bonds issued reached approximately 398,000 billion VND. The banking group accounted for 73% of this, followed by real estate, securities and manufacturing.
Of which, MB is the bank that mobilized the most through this channel with 6,000 billion VND, followed by LPBank, Asia Commercial Bank (ACB) and HDBank. Due to the need to supplement medium and long-term resources, bank bonds all have a term of over 3 years. Some lots of BIDV and TPBank last 10-15 years.
According to statistics from S&I Rating, as of the third quarter, the market had 144 bond issuances, including 143 with a total value of VND148,000 billion, and one overseas issuance by VPBank worth USD300 million.
Although the trading volume in the third quarter decreased by 26% compared to the second quarter, records from S&I Rating show that banks such as Techcombank, BIDV, and ACB increased bond issuance.
Statistics of major issuances in September alone also include the names of many banks "participating", such as MB reaching 6,000 billion VND, VIB more than 2,000 billion VND; VPBank reaching 2,800 billion VND, ACB is 3,000 billion VND.
From an expert's perspective, sharing at a recent workshop, Mr. Nguyen Minh Duc - Deputy Head of Business Development, S&I Rating - emphasized that the corporate bond market is in the process of reshaping after a period of strong fluctuations.
Mr. Duc pointed out that the rate of late payment in the real estate group is still high, but the new legal framework and mandatory credit rating requirements will contribute to increasing transparency, strengthening investor confidence and opening up room for market development.
According to him, in 2021, the Vietnamese stock market increased by 35% and peaked that year. At the same time, the bond market also recorded the highest trading value and outstanding value in history. But this year, while the stock market continues to increase strongly, the bond market is still in the process of reshaping.
Source: https://dantri.com.vn/kinh-doanh/chuyen-dong-trai-phieu-tai-vib-ocb-lpbank-mb-20251022141958090.htm
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