VPBank maintains strong growth momentum in Q1 2026, credit to customers surpasses VND 1 quadrillion

VPBank kicked off Q1 2026 with a series of notable achievements: Consolidated credit to customers exceeding VND 1 quadrillion, consolidated profit rising 58% YoY, closely aligned with the full-year target. The bank continues to advance its ecosystem expansion strategy, alongside plans to increase capital in order to strengthen its financial foundation and support long-term growth objectives.

Strong balance sheet expansion, credit surpasses VND 1 quadrillion

Starting the year with strong momentum, by the end of Q1 2026, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank; HoSE: VPB) reported consolidated credit to customers of VND 1.06 quadrillion, up 10.2% year-to-date (YTD). Standalone credit to customers reached VND 941 trillion, representing a 10.7% increase.

The corporate banking segment continued to play a leading role in driving growth, expanding its presence across a diversified range of high-potential industries and sectors. The small and medium enterprises (SMEs) segment and the retail banking segment recorded growth of 8.4% and 7% YTD respectively, supported by both secured and unsecured products.

Driven by strong credit expansion, VPBank’s consolidated total assets rose 9% to over VND 1.37 quadrillion, firmly maintaining its position as the largest private bank without state ownership.

To provide a solid foundation for its high growth strategy, VPBank proactively accelerated multi-channel funding mobilization to ensure liquidity safety. Consolidated customer deposits and valuable papers reached nearly VND 822 trillion, up 11.8% compared with the end of 2025, primarily driven by the parent bank.

VPBank continued to diversify deposit products and strengthen payment solutions for corporate clients. Notably, the Loc Thinh Vuong certificate of deposit, launched in 2025, continued to deliver strong results, reaching more than VND 43 trillion, up 63% YTD. VPBank also further diversified its funding sources through long-term offshore funding from international financial institutions, including a syndicated loan currently being arranged by SMBC. In addition, participation in the mandatory transfer of GPBank allows VPBank to reduce its required reserve ratio by 50%, thereby accessing an additional funding source of approximately VND 9 trillion.

In tandem with strong balance sheet expansion, VPBank maintained solid prudent indicators. The consolidated capital adequacy ratio (CAR) stood at around 14%, among the highest in the sector. The loan-to-deposit ratio (LDR) was maintained at 82.7%, while the short-term funding ratio for medium- and long-term lending stood at 28.3%, all in compliance with the State Bank of Vietnam's (SBV) regulations. Through the consistent implementation of risk management and debt handling measures, the bank’s asset quality remained well managed, with the standalone NPL ratio kept below the 2.5% target.

Profit up 58%, on track with the full-year target

VPBank delivered a strong performance in the first quarter, reflecting the effectiveness of its clear strategic direction, the strength of its financial ecosystem and its agile management. Consolidated total operating income (TOI) reached more than VND 19.9 trillion, up 26.3% year-on-year (YoY), with the parent bank contributing VND 15,162 billion, representing a 33.8% increase YoY.

After the first 3 months, VPBank’s consolidated profit before tax (PBT) reached more than VND 7.9 trillion, up 58% YoY and achieving nearly 20% of the full-year target. As the primary growth engine of the group, the parent bank recorded a profit of VND 7,383 billion, up 49.4% YoY.

Across the group, subsidiaries continued to make positive contributions to overall results. Despite volatility in the stock market, VPBankS maintained strong scale expansion across its core businesses, including margin lending, brokerage and customer base, generating nearly VND 515 billion in PBT. Supported by strong growth in gross written premium (GWP), OPES reported profit of VND 261 billion, nearly tripling YoY. FE CREDIT continued its recovery trajectory, delivering another profitable quarter.

Meanwhile, GPBank reported profit of more than VND 400 billion in the first quarter, nearly equivalent to its full-year 2025 result, reflecting clear development after one year of comprehensive restructuring with the support of VPBank.

Committed to a leading strategy, continuously expanding the ecosystem

Entering 2026, VPBank remains committed to its high growth strategy, strengthening its top-tier position. The bank is submitting to the Annual General Meeting of Shareholders a plan targeting credit and deposits growth of 35% and 40%, respectively – among the highest in the sector – while profit is expected to increase by 35% to reach VND 41,323 billion.

To further strengthen its financial capacity, governance and operational scale, VPBank is proposing a charter capital increase plan through  a share issuance from equity at a ratio of 26.04% and a private placement of 5% to a foreign investor, aimed at reinforcing its capital buffer and supporting long-term growth. If approved and successfully implemented, VPBank’s charter capital will increase from VND 79,339 billion to VND 106,243 billion, cementing its position as the bank with the largest charter capital in the sector.

VPBank continues to enhance its ecosystem to better serve diverse financial needs of customers and has recently welcomed a new member – Vietnam Prosperity Crypto Asset Exchange Joint Stock Company (CAEX). With the support of domestic and international shareholders, CAEX plans to increase its charter capital to VND 10 trillion to meet the minimum capital requirement for participation in the crypto asset market pilot program.

VPBank continues to demonstrate its commitment to shareholders through its fourth consecutive year of cash dividend, with a total payout of nearly VND 4 trillion, reflecting the bank’s solid financial capacity and long-term commitment to investors.

The business environment is expected to remain challenging and uncertain, with risks ranging US–Iran conflict to supply chain disruptions and inflationary pressures. Nevertheless, supported by a continuously strengthened financial foundation, the synergy of its ecosystem and strong management capability, VPBank remains well positioned to move forward steadily and deliver on its growth targets for 2026.