This study aims to investigatefactors affecting the liquidity of listed commercial banks on the Vietnamese stock market. The study employed FEM and GMM regressions with quarterly unbalanced panel data from 17 listed commercial banks on such the market for the period from 2006 to 2020 to estimate parameters. The empirical results indicated that total assets size, return on total assets, and credit growth have positively and significantlyrelated to the liquidity of listed commercial banks. We also found thatinteraction term between the bank size and return on total assets has a negative impact on the liquidity of the listed commercial banks. These findings are consistent with the predictions of commercial lending and liquidity theory and those of economy by scale theory. Implications are proposed to enhance liquidity management of listed commercial banks in Vietnam.