Vietcombank (VCB VN): Cash Dividend
The bank declared cash dividend of VND450 per share with October 24th as Settlement date. After the state ownership represented by the SBV and the strategic investor Mizuho Bank Limited, the Sovereign Wealth Fund of Singapore (GIC) is currently the third largest shareholder with 84.5 million share, equivalent to 1.01% interest. VCB VN closed at VND63,000 per share on 26th September 2025, resulting in 15.2x P/E and 2.5x P/B.
BVBank (BVB VN): Changes in top management
Mr. Ly Hoai Van will succeed as acting CEO since October 1st, effective replaying Mr. Ngo Quang Trung – current CEO and also a Board member. The bank made TOI of VND1,241 billion (about USD$47.2 million, up +6.7%, YoY) and EBT of VND93 billion (about USD$3.6 million, down -38.8%, YoY). BVB VN was las traded at VND14,300 per share on 26th September 2025, thus 61.9x P/E and 1.5x P/B.
Lasuco (LSS VN): Expecting higher revenue but lower profit in the next fiscal year
The sugar company has been proposing next year objectives with revenue of VND3,031 billion (about USD$115 million, up +30%, YoY) but profit before tax of VND135 billion (about USD$5.1 million, down -7%, YoY). The top line growth will be backed by the expansion plans of sugar cane farms, expected to be about 11% increase in size, and renovation of the rock candy factory to increase production by 28%. LSS VN closed at VND per share on 26th September 2025, hence 7.5x P/E and 0.5x P/B.
Khang Dien House (KDH VN): VinaCapital has been underweighting
Vietnam Investment Limited – a fund vehicle managed by VinaCapital, registered to sell about 9.3 million share out of 13.3 million shares owned, decreasing its interest from 1.19% to 0.36%. Before that, another fund managed by VinaCapital, VOF, had registered to buy 850,000 KDH VN shares but did not buy any share due to unfavorable market momentum. KDH VN closed at VND34,500 per share on 26th September, leading to 49.0x P/E and 2.2x P/B.
Dat Xanh Group (DXG VN): Dragon Capital sold a small equity stake
The Dragon Capital shareholder group collectively net sold 1.25 million DXG VN shares, lowering ownership from 12.03% to 11.9%. Last month, Dragon Capital also sold 3.75 million DXG VN shares. Meanwhile, Dat Xanh Group has announced its plan to invest VND7 trillion (about USD$266 million) in a residential project with six 40-story building (potentially 3,000 units). DXG VN closed at VND22,750 per share on 26th September 2025, meaning 72.0x P/E and 1.9x P/B.
