General Director of VPBankS: The demand for margin loans from investors is currently very large

At the 2025 annual meeting on April 20, VPBank Securities (VPBankS) presented shareholders with the target of increasing margin loan balance by 47% compared to the end of last year, to VND 50,000 billion. Many shareholders are concerned that it will be difficult for businesses to complete this plan when the stock market in the early part of the year is volatile and interest rates increase.

Responding to shareholders, Mr. Nham Ha Hai, General Director of VPBankS, said that the business has favorable conditions to complete the plan. According to him, investors’ current demand for margin loans is still very large, especially in the context that credit growth in the banking system this year may be lower than 19% in 2025.

“This means that investors will increase their loans through securities companies to invest,” Mr. Hai said.

According to him, liquidity remains at a high level this year, showing that investors are still interested in stocks. According to VPBankS statistics, in the first quarter, the average amount of money disbursed by investors was about 35,000 billion VND per session, higher than 29,000 billion VND in 2025.

Besides market factors, VPBankS leaders said the company still has large room to lend, about 30,000-33,000 billion VND, while some other units are about to run out of “room”. “This creates a competitive advantage for us, especially in attracting large-scale institutional customers,” VPBankS CEO added.

Margin trading is a form of investor borrowing money from a securities company to buy shares at a certain ratio, usually 1:1. The purchased shares will be used as collateral.

As of the end of the first quarter, VPBankS’s outstanding margin debt reached nearly VND 36,300 billion, equal to 106% of equity. Meanwhile, the lending ceiling set by the State Securities Commission is 200%. This segment also contributes about 31% of the company’s revenue, equivalent to 880 billion VND.

In addition to the growth story in the lending segment, shareholders are also interested in VPBankS’s investment in crypto assets. Mr. Nguyen Duc Vinh, General Director of VPBank, the bank that owns VPBankS, said the company has prepared personnel and resources over the past year to participate in this segment. Currently, the crypto asset company invested in by VPBankS has not yet been licensed by the regulatory agency. Mr. Vinh revealed that this bank will establish a fund management company to invest in all types of assets, including cryptocurrency.

VPBankS participated in the digital currency segment by investing VND 1,100 billion in Vietnam Prosperity Cryptocurrency Exchange Joint Stock Company (CAEX), an enterprise with a charter capital of VND 10,000 billion. In addition to VPBankS, CAEX has 4 other shareholders including OKG Ventures Limited, Future Land Investment, Lynkid and Mr. Cheng Tan Feng.

According to Resolution 5 of the Government, Vietnam is piloting the crypto asset market for 5 years. The company that wants to operate the floor must have a minimum capital of 10,000 billion VND, of which at least 65% of the shares are contributed by organizations.