Resilient amid market volatility, VPBank maintains strong growth in H1 2026

Despite macroeconomic headwinds and market challenges during the first half of 2026, VPBank maintained robust growth in both lending and deposits, achieved record PBT and expanded total assets to more than VND 1.5 quadrillion, further reinforcing position among leading private banks and supporting Vietnam's economic growth.

Total assets exceed VND 1.5 quadrillion, sustaining strong growth momentum

At the end of first half of 2026, Vietnam Prosperity Joint-Stock Commercial Bank (VPBank; HoSE: VPB) reported consolidated total assets of more than VND 1.5 quadrillion, representing a 19.2% increase year-to-date (YTD). The scale expansion was primarily driven by strong credit growth, with standalone credit to customers reaching nearly VND 1.06 quadrillion, up 24.6% YTD.

Corporate and SME banking segments remained the key growth engine, with the loan portfolio focused on priority sectors in line with the State Bank of Vietnam's (SBV) direction, including manufacturing, infrastructure, science and technology, and green financing… Meanwhile, the recovery of the retail banking segment, particularly among household business customers, continued to gain traction as VPBank introduced diversified financial solutions tailored to diverse customer needs, enabling the bank to maintain its market-leading position across multiple secured and unsecured lending segments.

Despite a high-interest rate environment and intensifying competition across the banking sector, VPBank maintained a solid funding base supported by a diversified and sustainable funding structure. Consolidated customer deposits and valuable papers issued reached nearly VND 902 trillion, up 22.7% YTD, driven primarily by growth at the parent bank.

This performance reflects VPBank's product diversification strategy, which is designed to optimize financial benefits across different customer segments. Building on the strong momentum from previous quarters, certificates of deposit at the parent bank reached VND 111 trillion, up 2.3-fold from the beginning of the year, driven by the Loc Thinh Vuong product for corporate customers.

Alongside its domestic funding, VPBank marked another milestone by successfully arranging a USD 1.44 billion first sustainability-linked syndicated loan from 15 leading international financial institutions, including SMBC, ANZ, Cathay United Bank, Commerzbank, CTBC Bank, Mashreq Bank and Standard Chartered… further reinforced its credibility in international capital markets, diversified its medium- and long-term funding sources and laid a solid foundation for sustainable growth.

During the second quarter, VPBank reaffirmed its commitment to shareholder by distributing nearly VND 4 trillion in cash dividends, bringing cumulative cash dividends paid over the past four years to nearly USD 1 billion. Despite that, the bank maintained a strong capital position, with its consolidated Basel II capital adequacy ratio (CAR) remaining at approximately 13%, among the highest in the sector.

VPBank maintained disciplined asset quality management, with the standalone non-performing loan (NPL) ratio under Circular 31, stayed around 2%, well below the bank's 2.5% target, while the consolidated NPL ratio remained under 3%. The loan-to-deposit ratio (LDR) and the ratio of short-term funding used for medium- and long-term lending stood at 84.5% and 22.4%, respectively, both in compliance with the SBV’s regulations

The increase in the regulatory ceiling on the ratio of short-term funding used for medium- and long-term lending from 30% to 40% is expected to provide additional capacity for VPBank to finance key infrastructure projects.

Core profit reaches an all-time high in the second quarter

Leveraging the strengths of its integrated ecosystem, VPBank continued to improve operating efficiency and deliver robust earnings growth. Consolidated total operating income (TOI) reached VND 43.4 trillion in the first half of 2026, up 35.2% year-on-year (YoY). In particular, the parent bank contributed more than VND 31.6 trillion, representing a 35% growth.

Consolidated profit before tax (PBT) in the first half of 2026 reached nearly VND 18.9 trillion, an increase of 68% YoY, fulfilling nearly 46% of the full-year target. In the second quarter alone, PBT reached nearly VND 11 trillion, marking the highest quarterly profit ever generated from the core business activities in VPBank's history.

As the group's primary growth engine, the parent bank recorded VND 15.6 trillion in PBT during the first half of the year, up 45.5% YoY. The bank's subsidiaries continued to deliver strong results, making increasingly meaningful contributions to the group's overall growth.

Driven by strategic initiatives and the continued expansion of its investment banking business, VPBankS reported first-half PBT of VND 2.673 trillion, tripling YoY, while advancing into the Top 8 brokerage firms by market share on HoSE. Supported by robust growth in gross written premiums, OPES delivered profit before tax of VND 613 billion, nearly tripling YoY.

GPBank, the newest addition to VPBank's distinct financial ecosystem, continued to make significant progress in its restructuring process, posting a PBT of more than VND 730 billion in the first 6 months of 2026, nearly 1,5 times its full-year 2025 result.

Advancing the journey of prosperity and reinforcing market leadership

To further strengthen its financial capacity, governance, and scale, VPBank plans to increase its charter capital through a 26.04% stock dividend from retained earnings and a 5% private placement to a foreign investor to reinforce the bank's capital buffers and support future growth. Upon completion, VPBank's charter capital will exceed VND 106.2 trillion, further reinforcing its leading position in the Vietnamese banking sector.

During the second quarter, VPBankS completed the acquisition of an 11% equity stake in a fund management company, adding another strategic component to VPBank's distinct and expanding ecosystem while strengthening its capabilities in wealth management.

VPBank's market leadership continued to gain international recognition, with the bank included for the third consecutive year and improving rankings in both the Forbes Global 2000 and Fortune Southeast Asia 500; while also securing a “hat-trick” of awards from The Asian Banker.

Looking ahead to the second half of 2026, the business environment is expected to remain challenging amid global geopolitical uncertainties, domestic interest rate and inflation pressures and sustained demand for medium- and long-term financing. Nevertheless, supported by its strong financial foundation and disciplined growth strategy, VPBank is well positioned to achieve its business targets, reinforce its market leadership, and continue contributing to Vietnam's economic development.