First quarter profit reaches over 5,000 billion VND, VPBank sets growth target of 26% in 2025

Presenting the Board of Directors' report at the 2025 Annual General Meeting of Shareholders held on the afternoon of April 28 in Hanoi, VPBank General Director Nguyen Duc Vinh said that in 2025, the bank will face many opportunities but also many challenges.

Accordingly, the biggest opportunity is that the economy shows signs of recovery. The Government sets a GDP growth target of at least 8% this year, creating recovery opportunities for all industries, including the banking industry.

However, the challenges are also huge, especially the US tariff policy. Currently, the bank's management is still waiting for the negotiation results to find a solution to minimize the negative impact.

However, with a solid foundation and ecosystem as well as customer scale being built and consolidated in 2024, VPBank has also identified a number of key goals in its business orientation for 2025.

Specifically, VPBank aims to increase total consolidated assets by 23%, customer deposits and valuable papers by 34%, consolidated credit balance by 25%, consolidated pre-tax profit by 26%. Of which, parent bank profit increases by 22% (reaching VND 22,219 billion), FE Credit profit increases by 120% (reaching VND 1,126 billion), VPBank Securities (VPBankS) increases by 64% (reaching more than VND 2,000 billion), OPES Digital Insurance Company increases by 34% (reaching VND 636 billion).

“In addition to setting a growth target of 26% in 2025, VPBank still sets a growth target of 30% for the following years. The Bank's Board of Directors is committed to closely monitoring the situation to make timely adjustments,” VPBank General Director Nguyen Duc Vinh emphasized.

VPBank General Director Nguyen Duc Vinh reported on outstanding business results in 2024.

At the end of the first quarter of 2025, VPBank achieved total consolidated assets of nearly 1 million billion VND. Of which, parent bank credit reached more than 663,000 billion VND, up 5.4% compared to the beginning of the year and significantly higher than the industry average of 3.93%.

Total consolidated operating income reached nearly VND15,600 billion, up 16.1% year-on-year. Consolidated pre-tax profit reached VND5,015 billion, up 20% year-on-year.

Previously, in 2024, VPBank achieved a consolidated profit increase of more than 85%, of which parent bank profit increased by 36%, FE Credit profit increased by 114%, and OPES profit increased by 204%.

Notably, despite the challenging economic situation, VPBank still aims to maintain a net interest margin (NIM) of 4.7-4.9%, among the top in the market. The bank also achieved the target of mobilizing non-term deposits (CASA) of VND 100,000 billion, a strong growth compared to the previous year.

VPBank's Board of Directors also presented to shareholders a plan to pay a 5% cash dividend as committed at the General Meeting of Shareholders in previous years.

In addition, in the context that the real estate market may gradually decrease and stabilize in the last 6 months of the year, and the private enterprise sector still faces many difficulties, VPBank plans to set aside 17,000 billion VND in provisions this year, a slight increase compared to last year.

In addition, another issue that shareholders are very interested in is the performance of GPBank - a bank to which VPBank has transferred capital. Responding to this issue, Chairman of the Board of Directors Ngo Chi Dung also "revealed": Before the transfer, GPBank lost an average of 1,000 billion VND per year, but this year, the profit will reach at least 500 billion VND.

Overview of the 2025 Annual General Meeting of Shareholders.

At the General Meeting, the Board of Directors presented to shareholders a capital contribution plan to establish a subsidiary operating in the life insurance sector. This subsidiary will have an expected charter capital of VND 2,000 billion. The subsidiary's field of operation will include basic life insurance products, health insurance, universal insurance, and other insurance services as prescribed by law and approved by the Ministry of Finance .

In addition, the bank also submitted to the General Meeting for approval a plan to contribute capital, receive transfer of capital contributions/purchase shares so that a fund management company can become a subsidiary of VPBank.

According to VPBank Vice Chairman of the Board of Directors Bui Hai Quan, life insurance and fund management are the "two missing pieces" of VPBank. Adding these "two pieces" helps complete VPBank's ecosystem. At the same time, establishing an insurance company also helps VPBank take the initiative in its business model and customer care.

Source: https://nhandan.vn/loi-nhuan-quy-i-dat-hon-5000-ty-dong-vpbank-dat-muc-tieu-tang-truong-26-nam-2025-post876051.html