On April 28, in Hanoi, the 2025 Annual General Meeting of Shareholders (AGM) of Vietnam Prosperity Joint Stock Commercial Bank ( VPBank , HoSE: VPB) elected the Board of Directors (BOD) and the Supervisory Board for the 2025-2030 term. At the same time, the Congress also considered and approved important reports, including: Report of the General Director; Report of the Board of Directors, independent members of the Board of Directors; Report of the Supervisory Board; Audited report of VPBank's separate and consolidated financial statements for the 2024 fiscal year; Profit distribution plan for 2024; Investment plan, capital contribution to establish subsidiaries, cooperation, joint ventures, associations... and other documents.
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| Chairman of the Congress |
Election of Board of Directors and Supervisory Board for new term
In the report to shareholders, VPBank's Board of Directors assessed that the period from 2020 to 2025 marks an unprecedented challenging period in history when fluctuations from the COVID pandemic, geopolitical tensions, trade wars... increase instability, threatening the sustainable development of countries. The Board of Directors for the 2020 - 2025 term plays a key role in strategic orientation, making landmark decisions, promoting VPBank to become the leading private bank in Vietnam.
Over the past 5 years, the Board of Directors has oriented VPBank to achieve outstanding growth through record-breaking M&A deals, building a comprehensive and differentiated ecosystem, serving the needs of 30 million customers and preparing a solid foundation for the future.
In order to continue to perfect the management apparatus, ready for the bank's breakthrough period, along with the country's "era of growth", this year's annual General Meeting of Shareholders of VPBank elected 8 members of the Board of Directors and 5 members of the Supervisory Board for the 2025 - 2030 term.
VPBank's new Board of Directors includes 6 members of the Board of Directors for the 2020-2025 term, namely Mr. Ngo Chi Dung, Mr. Bui Hai Quan, Mr. Lo Bang Giang, Mr. Nguyen Duc Vinh, Ms. Pham Thi Nhung and Mr. Takeshi Kimoto. The number of independent members has been increased from one to two, also two new members elected at this year's meeting, including Mr. Daniel Ashton Carroll and Mr. Mai Xuan Hung.
Mr. Daniel Ashton Carroll has a Master's degree in business, nearly 40 years of experience in the field of finance and banking, holding important positions in banks and investment funds in the US, Korea, China, Thailand... Mr. Mai Xuan Hung has a PhD in economics and was Deputy Chairman of the Economic Committee of the 12th and 13th National Assembly.
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| Mr. Nguyen Duc Vinh - General Director of VPBank reported the bank's business performance. |
In the first meeting, the Board of Directors for the 2025 - 2030 term unanimously elected Mr. Ngo Chi Dung as Chairman, Mr. Bui Hai Quan and Mr. Lo Bang Giang as Vice Chairmen.
On the same day, the General Meeting of Shareholders also elected five new members of the Board of Supervisors, of which two members for the 2020-2025 term will continue to hold their positions, namely Ms. Kim Ly Huyen and Mr. Vu Hong Cao. The three new members of the Board of Supervisors include Ms. Nguyen Thi Bich Hoi, Ms. Bui Minh Ngoc and Mr. Yasunori Takahashi.
Ms. Nguyen Thi Bich Hoi has a Master's degree in Law, Economics, and Management with 18 years of experience in businesses and holds the position of Head of Auditing Policy and General Department, Internal Audit Division, VPBank. Ms. Bui Minh Ngoc has 19 years of experience at VPBank, having held many positions such as Head of Customer Service Department, Auditing Expert. Mr. Yasunori Takahashi has 35 years of experience, having held many senior positions at Sumitomo Mitsui Banking Corporation (SMBC).
In the first meeting, the Board of Supervisors elected Ms. Kim Ly Huyen to continue holding the position of Head of the Board of Supervisors.
Approved billion-dollar profit plan, cash dividend of nearly 4,000 billion VND
Assessing the bank's operations in 2024, the Board of Directors believes that in the face of economic fluctuations and difficulties, VPBank will remain steadfast in its proactive and cautious strategy: Striving to seek opportunities, expand and exploit new and potential customer segments, while simultaneously implementing solutions to control asset quality.
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| Overview of the Congress |
By the end of 2024, VPBank recorded consolidated pre-tax profit of VND 20,013 billion, total assets of VND 923,848 billion, consolidated credit balance of VND 709,986 billion, customer mobilization and valuable papers of VND 552,642 billion. The bad debt ratio according to Circular 31 of the parent bank was 2.47%, completing the plan. VPBank also paid nearly VND 8,000 billion in cash dividends at a rate of 10%.
Based on the foundations consolidated and built in 2024, the Board of Directors submitted to the General Meeting of Shareholders for approval the 2025 business plan, with the highlight being a profit of VND 25,270 billion (nearly USD 1 billion), an increase of 26% over the same period, of which the parent bank contributed VND 22,219 billion, an increase of 22%.
In addition to the profit target, VPBank aims for a 23% growth in total consolidated assets, reaching VND1,130 trillion. The bank builds different business growth scenarios, suitable for actual conditions, with a target of 25% credit growth, 34% increase in mobilization, control and improvement of the quality of the loan and investment portfolio, and promotion of debt collection and settlement.
To realize the above goals, VPBank identifies 5 key business strategies in 2025, including: synchronous growth, effective mobilization, improving asset quality, expanding a differentiated ecosystem, and perfecting a solid foundation.
At the General Meeting of Shareholders, VPBank General Director Nguyen Duc Vinh shared: “The Board of Directors is fully confident that 2025 will continue to be a year of both consolidating the foundation system and developing the group. Growth, especially in scale, is the priority of this year, creating the premise for VPBank to join the ranks of the largest banks in the market. In 2025, VPBank will maintain 25% growth and prepare the foundation for the target of 30 - 35% in the following years.”
Shareholders also approved the use of nearly VND4,000 billion of undistributed profits to pay cash dividends at a rate of 5% (each share receives VND500 in dividends) in the second or third quarter of this year. This is the third consecutive year that VPBank has paid cash dividends, demonstrating its strong financial capacity, reasonable growth strategy and commitment to bringing the greatest benefits to shareholders.
In addition, the General Meeting of Shareholders agreed on a capital contribution plan to establish a subsidiary in the life insurance sector with an expected charter capital of VND 2,000 billion and to contribute capital, receive transfer of capital contributions/purchase shares for a fund management company to become a subsidiary of VPBank.
Source: https://thoibaonganhang.vn/dai-hoi-dong-co-dong-vpbank-bau-nhan-su-nhiem-ky-moi-thong-qua-ke-hoach-loi-nhuan-ty-usd-163537.html
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