VPBank records VND 20.4 Trillion PBT in 9 Months of 2025

Synergizing the strength of its distinct ecosystem expansion, Vietnam Prosperity Joint Stock Commercial Bank (VPBank; HoSE: VPB) has built a solid foundation, paving the way for robust and breakthrough growth in the coming period.

Total assets surpassed the AGM target after just 9 months

Building on its solid foundations, by the end of Q3 2025, VPBank’s consolidated total assets surpassed the target set at the Annual General Meeting of Shareholders (AGM), reaching VND 1.18 quadrillion, a 27.5% increase year-to-date. The bank’s standalone total assets exceeded VND 1.1 quadrillion.

VPBank’s consolidated credit to customers reached nearly VND 912 trillion by the end of Q3, up 28.4% year-to-date, with positive contributions from both the parent bank and its subsidiaries. Of this, standalone credit to customers stood at VND 813 trillion, demonstrating a comprehensive growth.

Seizing the momentum from Resolution 68 on promoting the private sector, VPBank has accelerated lending programs tailored to specific regions, industries and priority sectors and as a result, credit to the small and medium enterprise (SME) segment rose by 29.1% from the beginning of the year. In the retail banking segment, mortgage grew by 27.7% year-to-date, driven by a series of preferential lending programs designed to help customers with their homeownership dreams.

VPBank’s balance sheet continued to demonstrate sustainability and efficiency, with standalone deposits and valuable papers rising 27.8% year-to-date, reflecting the bank’s strategy to diversify products and expand its customer base. VPBank also became the first private bank in Vietnam to tap into the global ESG capital market by successfully issuing USD 300 million in international sustainable bonds. Liquidity ratios such as loan-to-deposit ratio (LDR) and short-term funds used for medium- to long-term lending were managed at 82.8% and 26.5%, respectively, all in compliance with the State Bank of Vietnam's (SBV) regulations.

Alongside outstanding growth in scale, VPBank has also achieved continuous improvement in asset quality through a wide range of debt handling measures. As of the end of Q3, the consolidated non-performing loan (NPL) ratio according to Circular No. 31 was tightly controlled, dropping below 3%, while the standalone NPL ratio continued its improving trend, standing at 2.23%.

After nine months, consolidated income from bad debt recoveries reached nearly VND 2,900 billion, with income in Q3 of 2025 rising 29.7% compared to the previous quarter. The codification of Resolution 42 provides a significant boost, offering a solid legal framework for VPBank to accelerate recovery and strengthen its financial foundation.

VPBank has officially registered with the State Bank of Vietnam (SBV) to adopt the Internal Ratings-Based (IRB) Approach under Circular 14, moving towards Basel III implementation in capital management. By the end of Q3, consolidated capital adequacy ratio (CAR) remained above 13%, among the highest in the industry.

9-month PBT fulfilled 81% of the full-year target

In parallel with solid growth in scale, VPBank’s business performance continued to strengthen. Consolidated PBT for 9 months of 2025 reached VND 20,396 billion, up 47.1% year-on-year. In the Q3 alone, PBT rose to VND 9,166 billion, marking an impressive 76.7% year-on-year growth and the highest level in the 15 consecutive quarters. After 9 months, VPBank’s PBT has surpassed the full-year 2024 results and fulfilled 81% of the 2025 full-year target.

Robust Q3 growth was fueled by the synergizing strength of the entire ecosystem. The parent bank continued to be the group’s torchbearer, driving the overall strategy, with PBT reaching VND 6,378 billion, up 39.9% year-on-year. These results were supported by solid momentum in core business activities, as net interest income (NII) increased by 22.7% year-on-year, and fee income delivered robust performance.

Taking advantage of a robust stock market and its competitive advantages, VPBankS has continuously set new milestones in business performance, positioning itself for a record-breaking IPO. After 9 months, the company’s PBT reached VND 3,260 billion, 4 times higher year-on-year, driven by contributions from all major business segments. Its margin lending reached nearly VND 27,000 billion, ranking among the top 3 in the industry, with an additional lending capacity of up to VND 13,500 billion. In consumer finance segment, FE Credit continued its recovery momentum, with 9-month PBT matching the full-year 2024 result.

After years of challenges, GPBank returned to profitability from June 2025, marking a positive turning point in its recovery. The bank’s management is confident in achieving the PBT target of VND 500 billion for 2025.

Synergizing the strength of the ecosystem, laying the foundation for future breakthroughs

A clear testament to the success of VPBank’s ecosystem development strategy is the remarkable progress of its subsidiaries. VPBankS - the securities arm within the ecosystem - is offering up to 375 million shares at VND 33,900 per share. The offering is expected to raise nearly VND 12,713 billion, thereby strengthening the financial foundation and expanding lending capacity. VPBankS is anticipated to become a leading investment bank, delivering personalized financial solutions across all customer segments.

GPBank has made a significant transformation under the strategic guidance of VPBank, unveiling a new brand identity, name and launching the digital banking platform GP.DigiPlus. GPBank’s philosophy, “For a Generation of Prosperity” is strongly aligned with VPBank’s message, “Prospering Vietnam” reflecting the shared aspiration to accompany customers on the journey to create a sustainable future.

Building on the success of the VPBank K-Star Spark In Vietnam concert, VPBank has once again positioned itself as the largest sponsor - the Title sponsor - of the year’s most anticipated music event: G-DRAGON 2025 WORLD TOUR [Übermensch] IN HANOI, presented by VPBank, held over two nights on November 8 and 9. This event further reinforces VPBank’s pioneering status and strategic vision, promising to create a memorable milestone for Vietnam’s music and pop culture scene.

Although Q3 GDP grew at its highest rate in over a decade, the economic outlook for the final quarter remains uncertain due to U.S.-China geopolitical tensions, natural disaster losses and exchange rate volatility. Nevertheless, by synergizing strength of the entire ecosystem and supported by solid foundations in capital, liquidity, technology, and governance, VPBank is well positioned for robust breakthroughs and sustainable growth in the future.