VPBank sets record PBT of VND 30.6 trillion, up 53%

In 2025, leveraging the strength of its prosperity synergy, VPBank delivered a strong breakthrough, posting impressive business results and surpassing all key financial targets: Consolidated total assets reaching VND 1.26 quadrillion and PBT totaling more than VND 30.6 trillion.

Total assets reach VND 1.26 quadrillion, quality on an upward trajectory

Maintaining a strong growth momentum throughout the year, Vietnam Prosperity Joint Stock Commercial Bank (VPBank; HoSE: VPB) capped off 2025 with a solid position among the leading private banks in terms of scale and efficiency. Consolidated total assets reached VND 1.26 quadrillion, up 36.4% from the beginning of the year and achieving 111% of the target set at the Annual General Meeting of Shareholders (AGM).

Consolidated credit to customers reached more than VND 961 trillion, reflecting strong growth across both the parent bank and its subsidiaries. Standalone credit to customers stood at VND 850 trillion, up 35% YTD, marking the highest growth rate in recent years.

The corporate banking segment led the growth, supported by a strategy centered on industrial-focused diversification with strong growth potential. At the same time, credit to the small and medium enterprise (SME) segment recorded an impressive 38% YTD increase, driven by the intensified regional- and sector-based lending strategy. In Q4, the retail banking segment delivered a strong rebound, bringing full-year growth to nearly 25% YTD, supported by secured products such as home loans, auto loans, and a pickup in unsecured lending.

In 2025, supported by a diversified product offerings, standalone deposits and valuable papers grew by 35.6% YTD, providing a solid foundation for credit expansion. The bank further strengthened its position in international capital markets through long-term offshore fundings, arranged and underwritten by reputable financial institutions, with a total value USD 2.36 billion.

Amid strong deposit growth to support balance sheet expansion, VPBank maintained good control over the parent bank’s cost of funds. At the same time, liquidity safety ratios, including the loan-to-deposit ratio (LDR) and the short-term funding ratio for medium- and long-term lending, were kept at 81.7% and 27.5%, respectively, remaining fully compliant with the State Bank of Vietnam's (SBV) regulations. The capital adequacy ratio (CAR) remained among the highest in the industry, at over 14%.

In Q4, VPBankS successfully completed a record-breaking IPO, raising nearly VND 12,713 billion, thereby further strengthened the capital base of both the subsidiary and the group.

Alongside scale expansion, asset quality improved remarkably, underpinned by the consistent implementation of debt resolution measures. By the end of 2025, the consolidated non-performing loan (NPL) ratio according to Circular No. 31 declined to below 3%; the standalone NPL ratio fell to around 2%.

Supported by strong internal efforts and a clearer legal framework following the codification of Resolution 42, income from bad debt recoveries delivered very strong results in Q4, with the parent bank contributing over VND 1.4 trillion, marking a twofold increase from the previous quarter. For full-year 2025, consolidated income from bad debt recoveries reached VND 5,713 billion.

Consolidated profit before tax exceeded VND 30.6 trillion, achieving 121% of the full-year target.

In 2025, scale and efficiency continued to go hand in hand at VPBank. After 4 quarters, consolidated total operating income (TOI) reached nearly VND 75 trillion, ranking among the highest within the private banking sector.

Consolidated profit before tax (PBT) climbed to a record high of VND 30.6 trillion, up 53% year-on-year and achieving 121% of the AGM target. In Q4 alone, profit exceeded VND 10.2 trillion, the highest level in the past 4 years. Profitability metrics improved markedly, with consolidated ROE and ROA reaching nearly 16% and 2.2%, respectively. Reaffirming its role as the primary growth engine of the group, the parent bank delivered PBT of VND 26.3 trillion in 2025, representing a 44.4% increase compared with 2024.

VPBankS’s PBT reached VND 4,476 billion in 2025, nearly quadrupling year-on-year and exceeding its revised target. Margin lending and advances exceeded VND 34 trillion, nearly 4 times higher than at the beginning of the year; with an additional lending capacity of up to VND 34 trillion, supported by a strengthened capital base following the IPO. In Q4, VPBankS’ brokerage market share on the HOSE rose to 3.21%, marking its first time entering the top 10 securities firms by market share.

In the consumer finance segment, FE CREDIT maintained a stable recovery, delivering its second consecutive profitable year with PBT of over VND 600 billion. In the insurance segment, OPES exceeded its business plan, posting profit of over VND 638 billion.

After just one year of comprehensive restructuring with the support of the parent bank, GPBank recorded encouraging results, reporting PBT of over VND 500 billion. Within the VPBank ecosystem, GPBank is expected to become a strategic digital banking component serving SME customers.

Reinforcing leading position with globally oriented group governance model

2025 saw a major leap forward for VPBank's ecosystem, highlighted by the addition of GPBank, the IPO and listing of VPBankS and plans for continued expansion going forward.

In December, VPBankS was officially listed on the HOSE at a valuation of approximately USD 2.5 billion, marking an important milestone in its journey toward becoming a leading investment bank in Vietnam. In addition to strengthening the capital base of both VPBankS and the group, the IPO also enhanced transparency and shareholder value, delivering key objectives for the next phase of development.

Guided by its brand manifesto of “Prospering Vietnam”, VPBank reaffirmed its commitment to fostering financial, mental and physical well-being for the Vietnamese people through a strong footprint across culture, arts, and sports. Over the past year, the bank partnered with a wide range of major events, from the VPBank K-Star Spark in Vietnam mega concert and the two-night G-Dragon 2025 World Tour [Übermensch] in Hanoi presented by VPBank, to the eSports festival VPBank Presents T1 in Vietnam: The Promise Fulfilled, as well as classical programs such as The Vienna Concert 2025, alongside numerous large-scale marathon events and art exhibitions.

The economic outlook for 2026 remains subject to considerable uncertainty, ranging from external challenges such as geoeconomic confrontation, state-based armed conflicts, and extreme weather events to internal risks related to trade and monetary policy. However, supported by solid foundations in capital, liquidity, technology, and corporate governance, VPBank is well positioned and stands ready to accelerate into the next transformation phase for 2026–2030.