Vietnam’s stock market saw a historic moment on March 12, 2025, as Vietcombank (VCB) became the first company to surpass 8 billion shares in circulation.

This achievement followed the issuance of 2.77 billion additional shares to pay stock dividends, reshaping market dynamics and boosting investor confidence.

At the same time, stocks linked to billionaire Pham Nhat Vuong, including Vingroup (VIC), Vinhomes (VHM), and Vincom Retail (VRE), continued to rise steadily.

These stocks have been gaining momentum due to Vingroup’s expansion of large-scale real estate projects across Vietnam.

Despite a majority of stocks declining, with 272 stocks in the red, the VN-Index still increased by 1.87 points, closing at 1,334.41 points. This growth was largely supported by the strength of Vietcombank and VinGroup stocks.

Vietcombank establishes itself as Vietnam’s first ‘super bank stock’

Vietcombank’s stock price adjusted from 96,800 VND to 66,700 VND per share due to the dilution effect of the stock dividend. However, after adjustments, the stock still gained 3.1% by the end of the session.

With this expansion, Vietcombank now holds the record for the highest number of shares on Vietnam’s stock market, surpassing VPBank, which has 7.93 billion shares, and Techcombank, which has 7.06 billion shares.

Vietcombank remains the most profitable bank in Vietnam, reporting 42 trillion VND (approximately 1.65 billion USD) in pre-tax profits in 2024, with a net profit of 33.8 trillion VND. The bank’s total outstanding loans grew by 13.7% to over 1.44 quadrillion VND (57 billion USD), while its non-performing loan ratio remained low at 0.96%.

Vingroup stocks reach their highest levels in nearly a year

The VinGroup ecosystem played a crucial role in maintaining market stability. On March 12, Vingroup (VIC) increased by 800 VND to reach 48,100 VND per share. Vinhomes (VHM) saw a gain of 1,450 VND, closing at 46,950 VND per share, while Vincom Retail (VRE) rose by 100 VND to 18,300 VND per share.

These increases mark the highest stock levels for VinGroup in nearly a year, reflecting strong investor confidence in the group’s expansive real estate and retail projects.

Foreign selling pressure impacts market sentiment

While Vietcombank and VinGroup stocks helped VN-Index maintain stability, foreign investors engaged in significant sell-offs, with a net outflow of 730 billion VND (28.9 million USD) across the three stock exchanges. Vietcombank alone saw foreign investors offload 1.52 million shares, raising concerns about short-term market sentiment.

Looking ahead, Vietnam’s banking sector remains a key driver of market growth, with the State Bank of Vietnam planning to increase credit growth to 16% in 2025. Additionally, the anticipated removal of credit growth caps could further boost investor confidence.

As Vietnam’s stock market surpasses new milestones, the influence of financial and real estate giants like Vietcombank and VinGroup will continue shaping its future. Investors are closely monitoring foreign capital flows and policy changes as the market navigates this evolving landscape.

Manh Ha