VPBank’s net operating income increased in Q1/2017
VPBank has announced positive business results for Q1/2017, with total assets increasing to nearly VND 230 trillion, of which deposits & issued valuable papers reached VND 186 trillion, increasing VND 14 trillion from the end of 2016.
Deposits reached VND 152 trillion, up 5.5% compared with the start of the quarter. Thanks to these positive results, VPBank’s profit marked a breakthrough compared with the same period last year.
Consolidated profit before tax reached VND 1,900 billion, up 85% compared with the same period last year, and profit after tax also increased by nearly VND 670 billion, reaching VND 1,520 billion. Net operating income reached VND 5,406 billion, increasing by 49% y-o-y.
These results demonstrate VPBank’s efforts in constantly improving quality, enhancing operational efficiency, optimizing risk management, and managing cost.
VPBank’s key targets for 2017 were approved by the State Bank of Vietnam and shareholders in the Annual General Meeting in April: total assets increasing to VND 280 trillion, customer deposits and valuable papers increasing to VND 217 trillion, and customer lending increasing to VND 182 trillion, with profit before tax growing to VND 6,800 billion and NPLs kept below 3%.
At the meeting, shareholders also agreed to increase charter capital from VND 10,765 billion to more than VND 14,000 billion in 2017, which would make VPBank one of the three largest joint-stock commercial banks by charter capital.
In Q1, VPBank was also one of five enterprises that received a Happiest Workforce Award following the Best Places to Work survey conducted annually by Anphabe with support from the leading market research company Nielsen. This was the first time Anphabe incorporated its ‘Happy Workforce Model’ into the survey, based on the idea that employees can only find real happiness at work when they connect with their employers and want to support and commit to their working environment.
VPBank was also ranked as the 26th Best Place to Work and one of the four best banking environments.
For further information, please contact us at: 1900 545 415 or 04 3928 8880, or visit our website at https://www.vpbank.com.vn
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