VPBank, MB, HDBank and Other Banks Continue Expanding Real Estate Lending
Despite ongoing challenges in Vietnam’s property market, real estate remains one of the most attractive sectors for bank credit. Financial reports from listed commercial banks in the first quarter of 2026 show that outstanding real estate loans continued to rise significantly, reflecting strong confidence in the long-term prospects of the sector.
Private banks such as VPBank, MB, HDBank, SHB, and Techcombank are among the leading institutions providing capital to residential, industrial, urban development, and logistics projects across the country.
Total Real Estate Credit Exceeds VND 1.58 Quadrillion
According to data compiled from 14 listed commercial banks, total outstanding loans related to real estate and construction reached more than VND 1.58 quadrillion during the first quarter of 2026, representing a nearly 7% increase compared with the end of 2025.
The structure of lending includes:
- Real estate business loans: more than VND 1 quadrillion.
- Construction loans: approximately VND 581 trillion.
- Real estate-related lending accounts for over 63% of total outstanding credit in this category.
These figures demonstrate that remains one of the most capital-intensive sectors in Vietnam’s economy.
VPBank Leads the Market in Real Estate Credit Growth
Among all banks surveyed, VPBank recorded the strongest growth in lending.
As of March 31, 2026:
- Outstanding real estate business loans reached VND 238.47 trillion.
- Increased by VND 31.05 trillion compared with year-end 2025.
- Quarterly growth reached 15%.
This represents the largest increase in real estate credit among Vietnamese banks during the quarter.
According to VPBank Chairman Ngo Chi Dung, Vietnam’s urbanization rate remains below 40%, significantly lower than many regional economies. As a result, housing demand is expected to remain strong for the next 10 to 20 years.
SHB, MB and HDBank Accelerate Lending Activities
Several other banks also reported strong growth in property-related lending.
SHB
- Outstanding real estate loans: VND 210.37 trillion.
- Increase: more than VND 5 trillion.
- Maintains a leading position in the sector.
MB
- Outstanding real estate loans: VND 131.90 trillion.
- Increase: VND 10.71 trillion.
- Growth rate: approximately 9%.
HDBank
- Outstanding loans: VND 78.20 trillion.
- Increase: over VND 8 trillion.
- Growth rate: 11%.
The continued expansion of lending demonstrates confidence in the recovery and long-term growth potential of Vietnam’s property market.
Techcombank Takes a More Selective Approach
Unlike many competitors, Techcombank reduced its real estate loan portfolio during the first quarter.
Specifically:
- Outstanding loans declined from VND 207.03 trillion to VND 198.85 trillion.
- Reduction of VND 8.17 trillion.
- Equivalent to a 4% decrease.
However, Techcombank remains among Vietnam’s largest real estate lenders.
Chairman Ho Hung Anh stated that real estate will continue to be a key growth driver for at least the next decade, but the bank will focus only on projects with:
- Clear legal status.
- Strong liquidity.
- Genuine market demand.
- Sustainable cash flow potential.
Real Estate Credit Growing Much Faster Than Overall Lending
According to Vietnam’s Ministry of Construction, total outstanding credit for real estate business activities reached approximately VND 2.235 quadrillion by February 28, 2026.
Compared with the fourth quarter of 2025:
- Growth reached 11.7%.
- Equivalent to an increase of more than VND 233 trillion.
Compared with the same period last year:
- Growth reached 43%.
Meanwhile, total credit growth across the entire economy during the same period was only about 1.4%.
This means lending expanded more than eight times faster than average credit growth nationwide.
Housing and Urban Development Projects Attract the Largest Capital Flows
Looking at credit allocation, urban development and residential projects continue to receive the largest share of bank financing.
Residential and Urban Development Projects
- Outstanding loans: nearly VND 784 trillion.
- Represent 35% of total real estate credit.
- Growth of over 24% compared with late 2025.
Industrial Parks and Export Processing Zones
- Outstanding loans exceed VND 139 trillion.
- Benefiting from increasing foreign direct investment (FDI).
Tourism and Resort Projects
- Outstanding loans exceed VND 84 trillion.
- Supported by the recovery of Vietnam’s tourism sector.
Land Use Rights Financing
- Outstanding loans exceed VND 255 trillion.
- Continues to account for a significant portion of total lending.
Housing Demand Remains Strong for the Next Decade
Bank executives and industry experts generally agree that Vietnam’s real estate sector still has substantial growth potential.
According to VPBank Chairman Ngo Chi Dung, housing demand will remain robust over the next 10 to 20 years due to:
- Continued urbanization.
- Population growth in major cities.
- Rising household incomes.
- Increasing demand for better housing quality.
However, banks are becoming more selective, prioritizing projects that serve genuine housing demand rather than speculative investment activities.
Banks Prioritize Social Housing and Industrial Real Estate
In 2026, many banks are directing capital toward sectors that support sustainable economic development.
Priority areas include:
- Social housing projects.
- Affordable residential housing.
- Industrial parks.
- Export processing zones.
- Logistics infrastructure.
- Commercial office developments.
- Production and export-oriented projects.
Notably, social housing has become an important component of ESG (Environmental, Social, and Governance) strategies adopted by several major banks.
Outlook for Credit in 2026
Industry analysts expect real estate lending to continue expanding throughout 2026 thanks to several favorable factors:
- Stable interest rates.
- Gradual housing market recovery.
- Increased infrastructure investment.
- Growing foreign direct investment inflows.
- Faster resolution of legal bottlenecks for development projects.
Nevertheless, banks are expected to maintain stricter lending standards, focusing on projects with strong legal foundations, genuine demand, and sustainable cash flow.
Conclusion
Bank credit remains a critical driver of Vietnam’s market recovery. VPBank, SHB, MB, HDBank, and Techcombank currently lead the market in property-related lending.
In the coming years, capital flows are expected to expand beyond traditional residential projects into industrial parks, logistics facilities, and social housing developments, creating a stronger foundation for sustainable growth across Vietnam’s real estate sector.
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