Vietnam’s corporate bond market recorded a rebound in May issuance, driven largely by commercial banks and property developers, according to data from the Vietnam Bond Market Association (VBMA).

As of May 29, the market had witnessed 29 privately placed issuances of corporate bonds worth a combined VND36.26 trillion ($1.38 billion), alongside 4 public offerings totaling VND3.99 trillion.

Total corporate bond issuance in May reached VND40.26 trillion, up 21.5% from the previous month. However, the figure was down 42% compared with the same period last year.

In the first five months of 2026, privately placed bond value stood at VND107.02 trillion, while public bond offerings at VND20.33 trillion.

Commercial banks and real estate developers continued to dominate the issuance market. Banks accounted for approximately 48% of total issuance value during the month, while property companies contributed about 44%.

The market structure has shifted significantly from a year earlier. In May 2025, commercial banks represented around 70% of total corporate bond issuance. Their share has since declined to 48%, while the proportion issued by real estate companies has doubled from 22% to roughly 44%, reflecting stronger fundraising demand from the property sector.