The bank, one of Vietnam's two policy lenders, sold three-year debt at a yield of 12.05 percent, but failed to sell two-year and five-year bonds as investors sought higher yields than it was prepared to accept, the exchange said in a statement.

The lender had sought to raise 1.32 trillion dong via government-guaranteed bonds.

In the last auction on March 9, the bank raised 300 billion dong via three-year bonds at a yield of 12.06 percent.