The corporate bond market witnessed a significant dominance by the banking sector in 2025, with its issuance estimated at VND397.5 trillion ($15.1 billion).
This accounted for over 67% of the total new corporate bond issuance in the market, marking a 30.3% increase compared to 2024.
The average issuance interest rate for the banking sector in 2025 was 6.2% per annum, lower than the overall industry average of 7.2% per annum and significantly lower than the real estate sector's 10% per annum.
The real estate sector ranked second, with a total issuance of VND137.95 trillion, a 39% increase from 2024, accounting for approximately 23.4% of the total new corporate bond issuance in 2025.
Overall, 2025 recorded 518 new issuance rounds with a total issuance value of VND 590.6 trillion, a 7% increase in the number of rounds and a 26% increase in value compared to 2024.
By the end of 2025, the total value of outstanding corporate bonds was approximately VND1.367 quadrillion, equivalent to 11.9% of GDP in 2024. Of this, 80.7% belonged to the real estate and banking sectors.
The total value of corporate bonds maturing in 2026 is estimated at VND 227 trillion, a decrease of VND 9.5 trillion compared to 2025.
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