VPBank Securities Joint Stock Company
About the Issuer
Established in 2009, VPBANKS is now one of Vietnam's top three securities firms by total assets, reaching VND 51 trillion as of 1H2025. Following its 2022 acquisition by Vietnam Prosperity Joint Stock Commercial Bank (VPBank) - a large privately owned bank. VPBANKS repositioned its core focus toward corporate bond advisory, underwriting, and distribution, leveraging VPBank's extensive client network to scale operations.
Rating Results
Credit Opinion
View Credit Rating ReportVPBANKS’s A rating could be upgraded if (1) VPBank strengthens its standalone credit profile and capacity to support VPBANKS, for example the bank successfully completes its planned capital raising, while maintaining stable asset quality and profitability amid rapid loan growth; and (2) VPBANKS continues to maintain a stable standalone credit profile during its business expansion.
VPBANKS’s A rating could be upgraded if (1) VPBank strengthens its standalone credit profile and capacity to support VPBANKS, for example the bank successfully completes its planned capital raising, while maintaining stable asset quality and profitability amid rapid loan growth; and (2) VPBANKS continues to maintain a stable standalone credit profile during its business expansion.
Issuer analysis reports
Rating Results
Second Party Opinion
List of Second Party Opinions (SPO) published by VIS Rating for VPX.
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