{"id":74165,"date":"2026-04-21T08:55:44","date_gmt":"2026-04-21T01:55:44","guid":{"rendered":"https:\/\/hbbgroup.net\/chu-tich-vpbanks-noi-gi-khi-co-dong-phan-hoi-gia-co-phieu-thap-hon-gia-ipo\/"},"modified":"2026-04-21T08:55:44","modified_gmt":"2026-04-21T01:55:44","slug":"chu-tich-vpbanks-noi-gi-khi-co-dong-phan-hoi-gia-co-phieu-thap-hon-gia-ipo","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/chu-tich-vpbanks-noi-gi-khi-co-dong-phan-hoi-gia-co-phieu-thap-hon-gia-ipo\/","title":{"rendered":"Ch\u1ee7 t\u1ecbch VPBankS n\u00f3i g\u00ec khi c\u1ed5 \u0111\u00f4ng ph\u1ea3n h\u1ed3i “gi\u00e1 c\u1ed5 phi\u1ebfu th\u1ea5p h\u01a1n gi\u00e1 IPO”"},"content":{"rendered":"
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Chi\u1ec1u 20\/4, C\u00f4ng ty Ch\u1ee9ng kho\u00e1n VPBank h\u1ecdp \u0110\u1ea1i h\u1ed9i c\u1ed5 \u0111\u00f4ng th\u01b0\u1eddng ni\u00ean t\u1ea1i H\u00e0 N\u1ed9i. T\u1ea1i phi\u00ean h\u1ecdp, c\u1ed5 \u0111\u00f4ng \u0111\u01b0a ra c\u00e1c c\u00e2u h\u1ecfi xoay quanh \u0111\u1ecbnh gi\u00e1, chi\u1ebfn l\u01b0\u1ee3c ph\u00e1t tri\u1ec3n c\u1ee7a c\u00f4ng ty ch\u1ee9ng kho\u00e1n trong h\u1ec7 sinh th\u00e1i VPBank. <\/p>\n

Khi \u0111\u01b0\u1ee3c h\u1ecfi v\u1ec1 \u0111\u1ecbnh gi\u00e1 v\u00e0 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng, b\u00e0 H\u1ed3 Th\u00fay Ng\u00e0, Ch\u1ee7 t\u1ecbch VPBank Securities (VPBankS) \u0111\u1ea1i di\u1ec7n tr\u1ea3 l\u1eddi. Theo b\u00e0 Ng\u00e0, c\u1ed5 phi\u1ebfu VPBankS \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft t\u1eeb th\u00e1ng 12\/2023. Trong giai \u0111o\u1ea1n sau ni\u00eam y\u1ebft, th\u1ecb gi\u00e1 c\u00f3 th\u1eddi \u0111i\u1ec3m t\u0103ng l\u00ean kho\u1ea3ng 34.500 \u0111\u1ed3ng\/c\u1ed5 phi\u1ebfu trong th\u00e1ng 3, cao h\u01a1n m\u1ee9c gi\u00e1 IPO 33.900 \u0111\u1ed3ng. Tuy nhi\u00ean, sau \u0111\u00f3 gi\u00e1 c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111i\u1ec1u ch\u1ec9nh v\u00e0o cu\u1ed1i th\u00e1ng.<\/p>\n

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\"Ch\u1ee7<\/p>

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B\u00e0 H\u1ed3 Th\u00fay Ng\u00e0, Ch\u1ee7 t\u1ecbch VPBank Securities (VPBankS) ngo\u00e0i c\u00f9ng b\u00ean ph\u1ea3i. \u1ea2nh: VPBankS<\/i><\/p>\n

<\/span><\/figcaption><\/figure>\n

L\u00fd gi\u1ea3i v\u1ec1 di\u1ec5n bi\u1ebfn n\u00e0y, b\u00e0 cho bi\u1ebft bi\u1ebfn \u0111\u1ed9ng gi\u00e1 kh\u00f4ng ph\u1ea3i l\u00e0 tr\u01b0\u1eddng h\u1ee3p ri\u00eang l\u1ebb m\u00e0 ph\u1ea3n \u00e1nh xu h\u01b0\u1edbng chung c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. Theo b\u00e0, trong th\u00e1ng 3, th\u1ecb tr\u01b0\u1eddng ch\u1ecbu t\u00e1c \u0111\u1ed9ng t\u1eeb nhi\u1ec1u y\u1ebfu t\u1ed1 nh\u01b0 c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb, bi\u1ebfn \u0111\u1ed9ng gi\u00e1 d\u1ea7u v\u00e0 m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t t\u0103ng, qua \u0111\u00f3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u00e2m l\u00fd nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

\u1ede g\u00f3c \u0111\u1ed9 \u0111\u1ecbnh gi\u00e1, Ch\u1ee7 t\u1ecbch VPBankS cho bi\u1ebft h\u1ec7 s\u1ed1 P\/B c\u1ee7a c\u00f4ng ty hi\u1ec7n \u1edf m\u1ee9c 1,62 l\u1ea7n v\u00e0 P\/E \u1edf m\u1ee9c 12,69 l\u1ea7n. So v\u1edbi m\u1eb7t b\u1eb1ng chung c\u1ee7a ng\u00e0nh ch\u1ee9ng kho\u00e1n, c\u00e1c ch\u1ec9 s\u1ed1 n\u00e0y \u0111ang th\u1ea5p h\u01a1n, khi P\/B trung b\u00ecnh kho\u1ea3ng 2,1 l\u1ea7n v\u00e0 P\/E kho\u1ea3ng 14,4 l\u1ea7n.<\/p>\n

\u201cV\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 nh\u01b0 v\u1eady, m\u1ee9c \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 t\u01b0\u01a1ng \u0111\u1ed1i h\u1ee3p l\u00fd\u201d, b\u00e0 Ng\u00e0 cho bi\u1ebft, \u0111\u1ed3ng th\u1eddi cho r\u1eb1ng v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba n\u1ebfu so v\u1edbi trung b\u00ecnh ng\u00e0nh.<\/p>\n

B\u00e0 c\u0169ng \u0111\u1ec1 c\u1eadp \u0111\u1ebfn c\u00e1c y\u1ebfu t\u1ed1 c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn di\u1ec5n bi\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu trong th\u1eddi gian t\u1edbi, bao g\u1ed3m tri\u1ec3n v\u1ecdng th\u1ecb tr\u01b0\u1eddng v\u00e0 kh\u1ea3 n\u0103ng n\u00e2ng h\u1ea1ng th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n. B\u00ean c\u1ea1nh \u0111\u00f3 l\u00e0 vi\u1ec7c tri\u1ec3n khai c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n c\u1ee7a c\u00f4ng ty.<\/p>\n

\u201cTrong th\u1eddi gian t\u1edbi, th\u1ecb gi\u00e1 c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 h\u01a1n gi\u00e1 tr\u1ecb v\u00e0 ti\u1ec1m n\u0103ng ph\u00e1t tri\u1ec3n c\u1ee7a c\u00f4ng ty\u201d, Ch\u1ee7 t\u1ecbch VPBankS n\u00f3i.<\/p>\n

Ngo\u00e0i ra, tr\u01b0\u1edbc b\u0103n kho\u0103n c\u1ee7a c\u1ed5 \u0111\u00f4ng v\u1ec1 vi\u1ec7c l\u00e3i su\u1ea5t t\u0103ng \u1ea3nh h\u01b0\u1edfng ra sao \u0111\u1ebfn m\u1ea3ng margin c\u1ee7a doanh nghi\u1ec7p, \u00f4ng Nh\u00e2m H\u00e0 H\u1ea3i nh\u1eadn \u0111\u1ecbnh, l\u00e3i su\u1ea5t t\u0103ng s\u1ebd t\u1ea1o ra nh\u1eefng kh\u00f3 kh\u0103n nh\u1ea5t \u0111\u1ecbnh. Song v\u1ec1 l\u00e2u d\u00e0i, CEO VPBankS cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng v\u1eabn c\u00f3 nhi\u1ec1u d\u1ea5u hi\u1ec7u t\u00edch c\u1ef1c. <\/p>\n

Theo \u00f4ng H\u1ea3i, kho\u1ea3n trong qu\u00fd I duy tr\u00ec quanh m\u1ee9c 30.000 t\u1ef7 \u0111\u1ed3ng m\u1ed7i phi\u00ean, t\u0103ng nh\u1eb9 so v\u1edbi kho\u1ea3ng 29.000 t\u1ef7 \u0111\u1ed3ng c\u1ee7a n\u0103m 2025. “D\u00f9 kh\u1ed1i ngo\u1ea1i b\u00e1n r\u00f2ng, kh\u1ea3 n\u0103ng h\u1ea5p th\u1ee5 c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 \u1ed5n \u0111\u1ecbnh”, \u00f4ng n\u00f3i. <\/p>\n

T\u1eeb c\u00e1c y\u1ebfu t\u1ed1 tr\u00ean, \u00f4ng H\u1ea3i cho r\u1eb1ng n\u1ebfu \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf ti\u1ebfp t\u1ee5c thu\u1eadn l\u1ee3i, thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng v\u00e0 nhu c\u1ea7u margin c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c c\u1ea3i thi\u1ec7n trong c\u00e1c qu\u00fd t\u1edbi. “Ch\u00fang t\u00f4i tin r\u1eb1ng vi\u1ec7c t\u0103ng margin hi\u1ec7n t\u1ea1i s\u1ebd kh\u00f4ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn kh\u1ea3 n\u0103ng ho\u00e0n th\u00e0nh m\u1ee5c ti\u00eau t\u0103ng tr\u01b0\u1edfng d\u01b0 n\u1ee3”, \u00f4ng n\u00f3i.<\/p>\n

B\u01b0\u1edbc sang n\u0103m 2026, VPBankS \u0111\u1eb7t m\u1ee5c ti\u00eau doanh thu 11.074 t\u1ef7 \u0111\u1ed3ng v\u00e0 l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc thu\u1ebf 6.453 t\u1ef7 \u0111\u1ed3ng, t\u0103ng l\u1ea7n l\u01b0\u1ee3t 39% v\u00e0 44% so v\u1edbi n\u0103m 2025.<\/p>\n

K\u1ebft th\u00fac qu\u00fd I\/2026, c\u00f4ng ty ghi nh\u1eadn l\u1ee3i nhu\u1eadn tr\u01b0\u1edbc thu\u1ebf g\u1ea7n 515 t\u1ef7 \u0111\u1ed3ng, t\u0103ng 46,8% so v\u1edbi c\u00f9ng k\u1ef3. Doanh thu ch\u1ee7 y\u1ebfu \u0111\u1ebfn t\u1eeb ho\u1ea1t \u0111\u1ed9ng cho vay k\u00fd qu\u1ef9 v\u00e0 t\u1ef1 doanh, \u0111\u1ea1t l\u1ea7n l\u01b0\u1ee3t 880 t\u1ef7 \u0111\u1ed3ng v\u00e0 1.822 t\u1ef7 \u0111\u1ed3ng<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Chi\u1ec1u 20\/4, C\u00f4ng ty Ch\u1ee9ng kho\u00e1n VPBank h\u1ecdp \u0110\u1ea1i h\u1ed9i c\u1ed5 \u0111\u00f4ng th\u01b0\u1eddng ni\u00ean t\u1ea1i H\u00e0 N\u1ed9i. T\u1ea1i phi\u00ean h\u1ecdp, […]<\/p>","protected":false},"author":5,"featured_media":74166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-74165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chung-khoan"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/74165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=74165"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/74165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/74166"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=74165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=74165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=74165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}