VPBank records positive profit in the first quarter, close to the billion-dollar target by 2025

Along with that, credit growth and mobilization were synchronously high, surpassing the industry average. These results closely follow the ambitious plan that VPBank will submit to shareholders for approval at the 2025 Annual General Meeting of Shareholders.

In the context of a global economy with many potential variables, Vietnam Prosperity Joint Stock Commercial Bank (VPBank, HoSE: VPB) and its subsidiaries are flexible in operations, optimizing business opportunities, strictly controlling risks and strengthening the support platform to realize the 2025 business plan.

Credit growth and mobilization outperformed the industry average

By the end of the first quarter of 2025, VPBank's total consolidated assets reached more than VND994,000 billion, continuing to affirm its leading position in the private commercial banking group.

This growth comes from the consolidated credit scale, with positive contributions from both the parent bank and its subsidiaries, exceeding VND747,000 billion, up 5.2% compared to the beginning of the year or 21.9% over the same period. Of which, individual bank credit reached more than VND663,000 billion, up 5.4% compared to the beginning of the year and significantly higher than the industry average of 3.93%. VPBank continues to promote its traditional strengths in strategic segments such as individual customers, mainly contributed by home loan products, showing the recovery of the real estate market. Similarly, through promoting the strategy of attracting new customers and digitizing the lending process, improving customer experience, another strategic segment, small and medium enterprises (SMEs), also contributed positively to the overall results.

VPBank's customer and valuable paper mobilization growth in the first quarter increased by 14.2% compared to the end of 2024, helping to ensure liquidity and prepare resources for future breakthrough plans. Strong mobilization growth closely followed the orientation set at the beginning of the year by VPBank's Board of Directors, thanks to diversified policies as well as launching new products to attract customers.

Mobilization grew strongly but VPBank's capital cost continued to be effectively controlled through optimizing the customer portfolio and diversifying medium- and long-term capital sources from abroad. At the end of the first quarter, the cost of capital (COF) of individual banks remained at 4.4%, equivalent to the previous quarter.

Thanks to abundant funding sources, the liquidity safety ratios of individual banks all comply with the requirements of the State Bank, with the loan-to-deposit ratio (LDR) and short-term capital for medium- and long-term lending at 79.2% and 24.3%, respectively. Similarly, the capital safety ratio (CAR) of the consolidated bank continues to be among the leading groups in the industry, reaching about 15%.

Profit closely follows billion-dollar plan, effectively controls asset quality

At the end of the first 3 months of 2025, VPBank recorded a total consolidated operating income of nearly VND 15,600 billion, an increase of 16.1% over the same period. Consolidated pre-tax profit reached VND 5,015 billion, 20% higher than the same period and closely following the plan to be submitted to the Annual General Meeting of Shareholders (AGM). Specifically, the parent bank recorded a profit of VND 4,942 billion while subsidiaries continued to contribute positively to the group's overall results. FE CREDIT posted a profit for the fourth consecutive quarter with disbursement revenue in the first quarter continuing to increase by 17% over the same period. VPBank's pre-tax profit increased by 93%, margin lending balance set a new record of VND 12,760 billion at the end of March.

By the end of the first quarter of 2025, VPBank's individual non-performing loan (NPL) ratio continued to be maintained below 3% thanks to improved credit quality and the active and diversified use of NPL resolution measures. In line with the direction set at the beginning of the year, in the first quarter, VPBank's consolidated risk-resolved debt collection reached VND850 billion, more than double that of the same period last year.

Perfecting the foundation, creating a launching pad for the future

In early 2025, VPBank welcomed a new member, GPBank, in addition to pieces such as consumer credit (FE CREDIT), securities (VPBankS) or insurance (OPES) and associated partners in many fields. The differentiated expanded ecosystem of VPBank and its member companies aims to exploit the maximum potential of a large customer base with a total scale of more than 30 million.

VPBank proactively takes the lead in accelerating digital transformation in business processes, consolidating foundational systems, promoting innovation through the application of new technological achievements, strongly implementing important technological initiatives (AI, GenAI, Big Data), creating a difference in the speed of providing products and services and improving customer experience.

Driven by the pieces in the differentiated expanded ecosystem, VPBank targets a 2025 profit of VND25,270 billion (nearly USD1 billion), up 26% compared to 2024. Along with that, the target of total consolidated assets by the end of 2025 is VND1,130 trillion, equivalent to an increase of 23%. In the context of many unknowns regarding tariffs, the bank will closely monitor market developments to flexibly manage business operations.

In addition to ambitious business targets, VPBank maintains its commitment to shareholders through its cash dividend policy for the third consecutive year, equivalent to a payment scale of nearly VND 4,000 billion, demonstrating its solid financial capacity and respect and commitment to long-term association with shareholders.

Source: https://baodautu.vn/vpbank-ghi-nhan-loi-nhuan-tich-cuc-trong-quy-i-bam-sat-muc-tieu-ty-do-nam-2025-d272241.html