VPBank's consolidated total assets reached over 1.1 quadrillion VND in the first 6 months of the year, an 18.6% increase compared to the beginning of the year, according to its newly released financial report. The bank's individual total assets reached nearly 1.05 quadrillion VND. Consolidated pre-tax profit reached 11.229 trillion VND, a 30% year-on-year increase, fulfilling 44% of the year's target. In Q2 alone, consolidated pre-tax profit reached 6.215 trillion VND, with the bank individually contributing 5.753 trillion VND, a 61% increase.

Consolidated credit balance reached over 842,000 trillion VND, a year-on-year increase of over 30%. Growth stemmed from both the parent bank and its member companies, with the small and medium-sized enterprise (SME) segment growing by 20% thanks to region-based, industry-specific, and priority sector lending programs.

Along with growth, VPBank recorded continued improvement in asset quality. The non-performing loan ratio, according to Circular 31, was controlled at 2.31%, with Group 2 debt decreasing for the 4th consecutive quarter. In 6 months, the bank recovered more than 1,700 trillion VND from risk-handled debts. VPBank considers the legalization of Resolution 42 a significant step, supporting more effective bad debt resolution.

Individual deposits and valuable papers increased by 27.5% compared to the beginning of the year, more than 4 times the industry average increase (6.11%). Demand deposits (CASA) increased by nearly 40%, approaching 100,000 trillion VND. This result was driven by initiatives such as the Super Interest tool and the brand campaign associated with the VPBank K-star Spark in Vietnam mega concert.

In the international market, VPBank continued to expand its capital mobilization channels by completing a syndicated loan of 1.56 billion USD in the first 6 months of the year from leading regional and global financial institutions.

The consolidated capital adequacy ratio (CAR) reached nearly 14%, among the highest in the system. Other safety indicators, such as the loan-to-deposit ratio (LDR) at 80.2% and short-term capital for medium- and long-term loans at 25.8%, are within the State Bank's limits.

VPBank's workspace. *Photo: VPBank*

In addition to the individual bank, member companies within the VPBank ecosystem also recorded positive results in the first half of the year, according to the financial report. VPBank Securities Company achieved a profit of nearly 900 trillion VND, an 80% year-on-year increase, with a margin loan balance of nearly 18,000 trillion VND, reaching the top 4 in the industry.

In consumer finance, FE Credit recorded its 5th consecutive quarter of profit, reaching 270 trillion VND after 6 months, reflecting recovery signals after the restructuring phase.

Other units, such as OPES Insurance and the digital bank CAKE, continued to expand operations, focusing on digital product development and enhancing user experience. GPBank, a new member of the ecosystem, is preparing to announce its strategy, image, and implement a new information technology system.

Besides financial indicators, VPBank also made its mark with initiatives to promote its brand, improve management efficiency, and expand its product range. In the first half of the year, the bank organized the cultural and entertainment event VPBank K-star Spark in Vietnam, attracting approximately 40,000 attendees. According to the bank, the program contributed to promoting business activities, with the number of new credit cards opened increasing by 45%, card spending increasing by over 51%, nearly 30,000 new Super Interest accounts opened, and the balance of payment accounts increasing by more than 4,000 trillion VND.

Regarding governance, VPBank continues to maintain a transparent model and adheres to international practices. The bank is among the top 5 listed companies with the highest ASEAN Corporate Governance Scorecard (ACGS) assessment results in 2024.

In addition, to expand segment coverage and develop specialized services, VPBank launched VPBank Private, a financial product aimed at customers needing investment advice and personal asset management. This service focuses on separate financial solutions suitable for the diverse needs of high-income customers.

With these achievements in the first half of the year, along with a foundation of capital, liquidity, technology, and governance, VPBank says it is ready to respond to any economic challenges in the second half of the year, while continuing to strengthen its position in the financial market.

(*Source: VPBank*)