Within one month, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has been honored by two leading prestigious magazines in Vietnam as top 50 listed companies and top 50 most effective companies in Vietnam.
Specifically, the Investment Bridge Magazine has just announced VPBank in the ranking of "TOP 50 Most Effective Companies in Vietnam 2018". The ranking were made with consultations from leading experts from Harvard and references from prestigious rankings such as Bloooberg, Fortune, Forbes.
Earlier, in June, Vietnam Forbes Magazine also honored VPBank in the list of "50 Best Listed Companies". This is the second time in a row that VPBank has been named in the abovementioned rankings since the bank listed its shares on the HoSE stock exchange in 2017. The voting results are based on revenue and profit index on the bank's owner equity within 3 to 5 consecutive years. Besides, factors related to the level of sustainable development of enterprises such as brand, quality of corporate governance, past profit origins, and prospects for sustainable development are also considered. Accordingly, VPBank's consolidated revenue has increased sharply from VND 16,863 billion in 2016 to VND 31,085 billion in 2018. In the last three years, VPBank has also kept the 4th position in the banking system in terms of profit and topped the list of business performance indicators. Return on equity (ROE) and total assets of the bank (ROA) in 2017 reached 27.47% and 2.54%. In 2018, these two indices continued to be maintained at the highest level in the market, respectively 22.8% and 2.4%.
VPBank's success in being recognized by prestigious national magazines among the 50 most effective listed companies has once again affirmed its position as one of the leading banks in Vietnam. With the target of becoming the most consumer- friendly technology- driven bank and among Vietnam’s top 3 most valuable banks by 2022, VPBank in recent years has invested heavily in technology. VPBank has not only digitized its operation process, but also built a technological ecosystem to connect its financial solutions to external partners, i.e. YOLO, VPBank Dream and VPBank Online. As of the end of 2018, VPBank attracted more than 1 million customers using digital applications and VPBank. The rate of transactions through digitized banking channels on total sales of VPBank reached over 55% by the end of 2018, the highest in the market.
The digitization process at VPBank is believed to be the new growth engine of the bank in the coming years, contributing to a significant reduction in operating costs while expanding access to many customers. In addition to speeding up VPBank's presence, sustainable growth and future growth potential are the foundations of one of the largest banking brands in Vietnam. Earlier this year, VPBank was ranked as one of the 500 most valuable brands in the world by Brand Finance, a global reputable brand ranking organization. The above results made VPBank the most valuable private bank in Vietnam and became the first private bank to enter the 500 rankings of Brand Finance.