VPBank AGM approves robust growth plan, targeting charter capital of over VND 106.2 trillion

The 2026 Annual General Meeting of Shareholders of VPBank approved a plan to increase charter capital to over VND 106.2 trillion, the highest level in the banking sector under the 2026 plan, while approving key business targets and a number of important proposals and reports.

Hanoi, April 22, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank; HoSE: VPB) successfully convened its 2026 AGM, during which all submitted proposals and reports were reviewed and duly approved.

Targeting charter capital of VND 106.2 trillion

The Management of VPBank presented, and the AGM approved, a plan to increase charter capital in 2026 from VND 79.339 trillion to VND 106.243 trillion. Upon completion within 2026, VPBank is expected to further reinforce its position among banks with leading financial strength in the market.

The capital increase plan will be implemented in two phases. In the first phase, the bank will issue shares from equity at a ratio of over 26%, raising charter capital to VND 100 trillion. The issuance is expected to take place from Q2 to Q3 of this year.

In the second phase, VPBank plans to carry out a private placement of more than 624 million shares to a foreign investor, thereby increasing charter capital to over VND 106.2 trillion. The issuance is expected to be executed from Q3 to Q4, with the objective of enhancing the bank’s financial capacity, governance capability and operational scale. The participating investor may be a current strategic investor of VPBank or a professional investor who is a foreign institution that fully meets the applicable financial capacity and regulatory requirements.

Alongside the capital increase plan, VPBank also submitted and obtained shareholder approval for a cash dividend payout at a ratio of 5%. The continuation of a cash dividend policy this year marks the 4^th consecutive year the bank has fulfilled this commitment, in line with the roadmap announced at the 2023 AGM to maintain cash dividend payments over 5 consecutive years.

Business plan maintains strong growth momentum

For 2026, VPBank has set out an ambitious business plan, targeting consolidated profit before tax (PBT) of VND 41,323 billion, representing a year-on-year  (YoY) increase of 35%. Consolidated total credit to customers is projected to reach nearly VND 1.3 quadrillion, up 34%, accompanied by consolidated customer deposits and valuable papers exceeding VND 1 quadrillion, an increase of 40%. The standalone non-performing loan (NPL) ratio, in accordance with Circular 31, is expected to remain below 2.5%.

In the Management’s assessment, against a backdrop of an increasingly complex business environment and uncertainties arising from global geopolitical developments, the bank’s business targets for the year are expected to be demanding.

“Nevertheless, we are confident that under the leadership of the Board of Directors, the Board of Management and our strategic partners, together with the collective efforts of all employees, VPBank will successfully navigate these challenges and continue to achieve quality and efficient growth”, the Board of Management noted in its report.

At the end of the first quarter of 2026, VPBank recorded consolidated PBT of over VND 7.9 trillion, up 58% YoY and achieving nearly 20% of its full-year target. Consolidated total assets increased by 9% to over VND 1.37 quadrillion, firmly maintaining its position as the largest private bank without State ownership. Consolidated credit to customers surpassed VND 1 quadrillion, rising 10.2% compared to the end of 2025, while consolidated customer deposits and valuable papers reached nearly VND 822 trillion, up 11.8%.

In 2025, supported by synergies from its distinct and expanding ecosystem, together with the support of strategic shareholder SMBC, VPBank recorded a strong breakthrough, exceeding all financial targets. Consolidated total assets reached VND 1.26 quadrillion, up 36.4%, making VPBank the largest private bank without State ownership.

As of the end of 2025, consolidated credit to customers exceeded VND 961 trillion, while standalone customer deposits and valuable papers also recorded growth of 35.6%. VPBank further strengthened its position in international capital markets through long-term funding transactions arranged and underwritten by reputable financial institutions, with total value reaching USD 2.36 billion. Capital adequacy ratio (CAR) remained among the highest in the sector, at above 14%.

Strategic pillars for the next phase

In parallel with its ambitious plan is a set of strategic pillars designed in an integrated and highly aligned manner. Credit growth remains the core driver, with a continued focus on the retail banking and small and medium-sized enterprises (SMEs) segments.

In tandem with credit expansion, VPBank continues to strengthen its funding base through diversification of funding sources and channels, not only expanding scale but also ensuring compliance with prudent ratios and maintaining a balanced and sustainable balance sheet. On this foundation, the bank is enhancing its risk management capabilities with a more proactive approach, strengthening monitoring, debt handling and collection efforts, thereby fundamentally improving the quality of its credit portfolio.

“Ecosystem synergies and group governance” continues to be identified as a key strategic pillar, aimed at improving operational efficiency and elevating customer experience across the entire ecosystem. Building on this foundation, VPBank is actively expanding into new business areas such as life insurance, fund management, blockchain and gold trading, while continuing to invest strongly in technology. data, and people to create a solid base for sustainable growth.

VPBank identifies 2026 as a critical milestone in its upcoming 5-year development plan, marking an acceleration phase toward the realization of its long-term strategic objectives. The bank aims to significantly expand its operational scale while maintaining a growth rate of over 30% per annum. The combination of “rapid expansion” and “quality-led growth” will serve as a consistent guiding principle, enabling VPBank to scale its business while strengthening governance and operational efficiency, thereby supporting long-term sustainable development.

This orientation is built on a foundation of sustained growth over many years, with VPBank maintaining an average growth rate of approximately 30% over the past 15 years and exceeding 30% in each of the last 3 years. These results reflect the bank’s consistent execution capabilities, as well as its ability to deliver rapid growth while maintaining effective risk management in a volatile market environment.