Vietnam’s VPBank has Chinese newcomer with 1.15% stake
China-incorporated Tianhong Vietnamese Market Equity Launched QDII Fund has become the latest shareholder with ownership of above 1% in Hanoi-based VPBank.
Tianhong Vietnamese Market Equity Launched QDII Fund held 91.07 million shares of VPBank (HoSE: VPB) as of August 20, or a 1.1479% stake, according to the bank’s updated list of shareholders.

VPBank’s headquarters in Hanoi. Photo courtesy of the bank.
Data from Bloomberg shows that the fund is an open-ended fund tracking the VN30 Index, comprising the 30 biggest blue chips on the Ho Chi Minh Stock Exchange (HoSE). The fund invests at least 80% of its total assets in equities, at least 80% of non-cash assets in Vietnam-related stocks and depository receipts.
Meanwhile, Composite Capital Master Fund LP, a hedge fund registered in the Cayman Islands, has reduced its ownership in VPBank to 1.7029% as of August 20 from the 2.73% as of July 19.
In February 2020, this fund bought another 7.3 million shares of VPBank, raising its holding to 5.15% in the Vietnamese lender. It became the biggest and sole major shareholder in the bank.
A list released by VPBank on July 17 showed that the bank had 13 individuals and four institutional investors owning more than 1% each in the bank. They combined held a 64.2% stake.
Sumitomo Mitsui Banking Corporation is the sole foreign strategic investor with a 15% stake.
VPBank earned a consolidated net profit of VND7,125 billion ($284.8 million) in H1/2024, up 27.3% year.
As of June 30, the bank had total assets of VND864,392 billion ($34.55 billion), up 5.7% from end-2023.
VPB shares closed flat at VND18,750 ($0.75) apiece on Friday.
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