VPX securities are eligible for margin trading.

VPBank Securities Joint Stock Company's (VPBankS) VPX shares (listed on HoSE) have just become eligible for margin trading starting from June 12, 2026.

VPX has been "unlocked" for margin trading after 6 months on the exchange.

Entering 2026 with a solid foundation following its record-breaking IPO, VPBank Securities Joint Stock Company (VPBankS, HoSE: VPX) continues to mark another important milestone as VPX shares become eligible for margin trading from June 12, 2026, six months after listing on HoSE.

According to current regulations, to be eligible for margin lending, businesses need to fully meet requirements regarding listing time, financial situation, legal compliance, and information disclosure obligations. This is seen as confirmation of VPBank's transparency and operational quality, helping to strengthen market confidence, especially from institutional investors.

The "unlocking" of margin trading also helps VPX reach a wider group of investors with a higher risk tolerance and a preference for using financial leverage. As a result, the stock is expected to see improved liquidity and increased investor interest in the market.

VPX has qualified for margin trading amidst continued positive assessments of the securities industry's medium- and long-term outlook by many organizations.

According to S&I Ratings, the securities industry enters 2026 with a strong foundation built during the 2023-2025 period, landmark legal reforms, and the boost of an FTSE upgrade effective from September 2026.

According to data from FiinPro, at the close of trading on June 10th, VPBank's stock was valued lower than the industry average. Photo: VPBank's.

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According to estimates from securities companies, after completing the upgrade, the Vietnamese market could attract billions of USD in active and passive capital flows. As the scale of capital flows increases, securities companies will be the direct beneficiaries through increased revenue from brokerage, margin lending, investment banking, and other services.

In that picture, according to data from FiinPro, at the close of trading on June 10th, VPX shares recorded P/E and P/B ratios of 11.5 times and 1.42 times respectively, significantly lower than the average for the securities industry of 13.5 times and 1.74 times, as well as the overall market average of 13.6 times and 2.1 times.

This valuation becomes even more noteworthy when considered in the context of VPBank's entry into a new growth phase, driven by numerous factors from its margin lending and investment banking activities, along with its capital advantages and ecosystem.

VPBank's growth potential

According to S&I Ratings, VPBankS belongs to the group of securities companies with a strong capital base, diversified operations, attracting a large traditional customer base, and supported by the banking/corporation ecosystem. Therefore, the company will be among the biggest beneficiaries of the upgrade wave, possessing room for growth in margin lending and investment banking when the capital market becomes more active.

Following the largest IPO in the history of Vietnam's securities industry, VPBankS is entering a 5-year growth phase from 2026 to 2030, with the support of Vietnam Prosperity Commercial Bank (VPBank; HoSE: VPX) and strategic partner Sumitomo Mitsui Banking Corporation (SMBC).

Specifically for 2026, VPBankS aims for a profit of VND 6,453 billion, a 44% increase compared to the same period. Over the entire 5-year period, VPBankS will maintain a compound annual growth rate of 32%, aiming to become the industry leader in profit and total assets by 2030.

In the first quarter of 2026, VPBankS continued its strong growth momentum. Despite rapidly rising interest rates and continuously record-breaking margin lending balances, VPBankS continued to expand its margin lending operations. Specifically, according to updates from a recent investor event, by the end of April, the company's margin lending balance had reached approximately VND 38,000 billion and is expected to reach VND 50,000 billion by the end of this year. The CEO of VPBankS affirmed that the trend of rising interest rates does not "hinder the growth of margin lending balances" but rather presents an opportunity for the company to increase its market share.

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Simultaneously, amidst the increasing demand for capital mobilization from businesses as the government promotes double-digit growth targets, VPBankS is expected to strongly benefit from its investment banking segment. Its expertise, ecosystem, and financial capacity give the company a favorable position to participate more deeply in advisory and bond/equity issuance transactions for businesses. According to updates from the investor event, VPBankS is currently receiving advisory requests totaling VND 60 trillion in this sector.

Furthermore, in the brokerage segment, the company continues to maintain its market share in the top 10 of HoSE, with 1.3 million securities accounts, equivalent to 10% of the total accounts in the market. In the first half of 2026, VPBankS continuously implemented promotional programs such as margin interest rates from 0%/year, free transactions, and cash bonuses. Recently, VPBankS launched the V30 margin loan package, with a limit of up to 30 billion VND.

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Source: https://congthuong.vn/chung-khoan-vpx-duoc-cap-margin-461399.html