Outstanding growth in both scale and quality, VPBank's total assets surpassed VND 1.1 quadrillion

By seizing opportunities from a favorable domestic macroeconomic environment and leveraging a bold growth strategy, solid risk management and innovative products and services, Vietnam Prosperity Joint Stock Commercial Bank (VPBank, HoSE: VPB) simultaneously drove two key objectives in the first half of 2025: Exceptional growth in scale and a continued focus on quality.

Total assets surpassed VND 1.1 quadrillion, scale growth in sync with quality

By the end of the first half of 2025, VPBank became the largest private commercial bank in Vietnam by total assets, with consolidated assets exceeding VND 1.1 quadrillion, while standalone assets also approached VND 1.05 quadrillion. VPBank’s consolidated credit to customer reached over VND 842 trillion, representing an 18.6% increase year to date and a 30.3% year on year increase, with contributions from both the parent bank and its subsidiaries. Seizing the momentum from Resolution 68 on promoting the private sector, the strategic small and medium enterprise (SME) segment stood out with a 20% growth rate, driven by the effective execution of lending programs tailored to specific regions, industries and priority sectors.

Serving as a solid foundation for credit growth, standalone deposits and valuable papers continued to surge, rising by 27.5% year to date - more than 4 times the industry average (6.11% as of June 26). Notably, thanks to a series of standout initiatives such as the “Super Sinh Lời” product and the VPBank K-Star Spark in Vietnam music festival campaign, the current account savings account (CASA) balance neared VND 100 trillion, representing nearly 40% growth.

In parallel, VPBank continued to solidify its presence and credibility in the international market by successfully securing a record syndicated loan of USD 1.56 billion in the first half of the year from leading global financial institutions.

Accompanying the remarkable growth in scale was the continued improvement in asset quality, with the parent bank’s non-performing loan (NPL) ratio according to Cir 31 being controlled at 2.31%. Notably, Group 2 loans continued to decline for the fourth consecutive quarter, providing room for further enhancement in asset quality.

In H1 2025, consolidated income from bad debt recoveries exceeded VND 1.7 trillion, demonstrating the bank’s strong and efficient efforts in bad debt handling. The recent codification of Resolution 42 provides a significant boost, offering a solid legal framework for VPBank to expedite bad debt recoveries, further reinforce its healthy, sustainable financial foundation.

Thanks to abundant funding sources, liquidity ratios such as loan-to-deposit ratio (LDR) and short-term funds used for medium- to long-term lending were managed at 80.2% and 25.8%, respectively, all in compliance with the State Bank of Vietnam's (SBV) regulations.

Consolidated capital adequacy ratio (CAR) remained among the highest in the industry at nearly 14%. In Q2, VPBank paid out nearly VND 4 trillion in dividends, demonstrating its strong financial position, appreciation and long-term commitment to shareholders.

First half profit exceeds VND 11.2 trillion, up 30%

Building on this solid foundation, VPBank reported consolidated PBT of VND 11,229 billion in the first half of 2025, marking a 30% year on year increase. In the second quarter alone, profit reached VND 6,215 billion, surpassing projections from multiple securities firms. After six months, the bank had fulfilled 44% of its full-year profit target and was approaching its year-end total asset goal of VND 1.13 quadrillion.

Growth momentum was driven by both the parent bank and its subsidiaries, highlighting the effectiveness of the distinct ecosystem expansion strategy. The parent bank continued to play a pivotal role, with PBT reaching VND 5,753 billion in Q2, an impressive 61% increase.

Taking advantage of a robust stock market, VPBankS reported a record profit of nearly VND 900 billion in H1, marking an outstanding 80% increase. Its margin lending reached nearly VND 18 trillion, placing it among the top 4 brokers in Vietnam in terms of margin volume. In the consumer finance segment, FE CREDIT reported its fifth consecutive profitable quarter, with H1 profit reaching VND 270 billion, affirming the success of its comprehensive restructuring process.

Other key entities such as OPES Insurance and CAKE by VPBank also contributed positively to VPBank’s financial ecosystem through continuous service expansion and enhancements in customer experience on modern digital platforms. GPBank - the newest member of VPBank’s ecosystem - is undergoing a major transformation, preparing to unveil a new strategy, brand identity, alongside the establishment of a modern IT infrastructure.

Driving growth through pioneering initiatives and premium experiences

Beyond impressive financial figures, VPBank has demonstrated the ability to drive sustainable growth through pioneering initiatives, premium experiences and a solid governance foundation.

A prime example is the VPBank K-Star Spark in Vietnam mega concert - a cultural and entertainment event featuring Asian music legend G-Dragon, which attracted an audience of over 40,000; more than 128 million impressions and over 30 million engagements across social media platforms.. In addition to boosting brand visibility, the event also served as a powerful catalyst for business performance: New card issuance rose by 45%, card spending surged by over 51%, nearly 30,000 “Super Sinh Lời” accounts were opened and current account balances grew by more than VND 4 trillion.

For many years, VPBank has regarded corporate governance as a fundamental pillar to ensure operational stability and long-term growth. The bank has developed a governance framework that is transparent, efficient, aligned with international best practices, and exceeds compliance standards. All decisions are made based on principles of prudence, integrity, and a balanced consideration of the interests of shareholders, stakeholders, and the broader community. As a result, VPBank was recognized among the Top 5 listed companies with the highest ASEAN Corporate Governance Scorecard (ACGS) ratings in 2024.

To advance its segmentation strategy and reinforce its position as a leading universal bank, VPBank launched VPBank Private, a bespoke financial service tailored for high-net-worth individuals. The segment is designed to comprehensively address the distinctive financial needs and elevated expectations for a refined lifestyle ecosystem, where the bank not only manages assets but also accompanies clients on their journey to create and preserve long-term value.

The economic outlook for the second half of the year remains uncertain, with lingering challenges such as tariff pressures dampening consumer demand, the slow cooling of real estate non-performing loans, rising capital costs and the pressure to cut interest rates to support economic growth. Nevertheless, backed by its strong performance in the first half and solid foundations in funding, liquidity, technology and corporate governance, VPBank is well-positioned to navigate these challenges, make bold breakthroughs and further solidify its leading position in Vietnam’s financial landscape.