This forecast was highlighted by analysts from Rong Viet Securities (VDSC) in their updated report on Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank).
VDSC indicated that the sale of the VietinBank tower could be completed in the first half of 2026, with the earliest possible completion in the first Quarter of 2026. "The transfer will be conducted at market value, and profit will be recognized upon completion of the transaction," the analysis team stated in the report.
Previously, in 7/2025, the bank announced the necessary procedures to restart the transfer process for the headquarters project, also known as VietinBank Tower. This project is located on plot TM1 within the Nam Thang Long urban area, Phu Thuong ward, Ha Noi, and is commercially known as Ciputra.
The structure is situated on a plot of land measuring nearly 30,000 square meters and features a design with two towers, 48 and 68 stories high. According to the initial plan, one tower would serve as VietinBank's headquarters, while the other would house a 5-star hotel, a healthcare facility, and luxury apartments for lease.
The 10,267 billion VND project, which began construction in 2010, remains unfinished due to the bank's implementation challenges. Recently, market rumors have suggested a leading domestic real estate enterprise is exploring the acquisition of the VietinBank tower.
Regarding this year's business targets, VDSC forecasts the bank's credit growth at approximately 15%. Rong Viet anticipates the State Bank of Vietnam will adjust VietinBank's credit growth limit higher than the initial 11% allocation earlier this year.
This major bank's credit costs could continue to slightly decrease, owing to stable control over new non-performing loans (NPLs) and maintaining NPL ratio and coverage criteria.
According to VDSC's projections, VietinBank could record net interest income growth of 26% this year, reaching over 83,760 billion VND. Pre-tax profit could increase by nearly 30%, surpassing 56,000 billion VND. Last year, VietinBank surpassed BIDV to claim the second-highest profit in the banking sector, with a profit of 31,758 billion VND, an increase of over 27% compared to 2024.
Regarding new business areas, Rong Viet Securities stated that VietinBank has identified its role as an intermediary payment bank for the digital asset market. They have signed a memorandum of understanding (MoU) for cooperation with a digital asset exchange partner and are ready to implement it as soon as the partner obtains licensing.
Additionally, VietinBank is studying the establishment of a subsidiary bank or a suitable legal entity to operate within an international financial center in Vietnam, pending approval from the State Bank of Vietnam. The bank also aims to collaborate with fintech startups within the ecosystem of its strategic shareholder, MUFG, in payments, lending, and insurance, with a pilot phase anticipated for 2026-2027.
Anh Tu
