
VPBank achieved more than 80% of the year's plan after 9 months - Photo: VPBank
A bank reported a record high profit after 14 quarters.
Vietnam Prosperity Joint Stock Commercial Bank - VPBank (VPB) - has just announced its financial report for the third quarter of 2025 with pre-tax profit reaching VND 9,166 billion, an increase of 77% over the same period in 2024.
Accordingly, net interest income recorded more than 15,000 billion VND, up 22%. Service activities brought in a profit of 2,392 billion VND, 2.4 times higher than the same period. In addition, the securities trading segment earned a profit of more than 1,286 billion VND, more than 11 times the same period.
In contrast, the foreign exchange business only brought in 3 billion VND, while in the third quarter of 2024 it made a profit of more than 96 billion VND. The investment securities trading segment lost more than 43 billion VND, while in the same period it made a profit of 17 billion VND.
Operating expenses in the third quarter recorded more than VND4,427 billion, up 18%. Risk provision expenses increased slightly by 7% to VND6,543 billion.
In the first 9 months, VPBank reported pre-tax profit of more than VND20,395 billion, up 47%. Compared to the plan set out at the beginning of the year, this bank has achieved more than 80% of the plan.
Data: Financial statements
Average income per employee is more than 31 million VND/month
As of September 30, VPBank had 27,562 employees, an increase of more than 1,740 people compared to the same period in 2024. Total employee income increased by 21% after 1 year to more than VND 7,770 billion.
Accordingly, the average income per employee was recorded at 31.3 million VND, an increase of 3.8 million VND, equivalent to an increase of nearly 14%.
With an average income of 31.3 million VND/month, each VPBank employee can buy about 2.1 taels of SJC gold, at the selling price of 148 million VND/tael on the afternoon of October 15.
By the end of the third quarter, total assets increased by 27.5% compared to the beginning of the year to VND1,178 billion. Total outstanding loans to customers were at VND896,411 billion, up 28.5%. Total bad debt increased by 8% to more than VND31,493 billion.
Of which, substandard debt (group 3 debt) decreased by 11% to VND9,601 billion. Doubtful debt (group 4 debt) increased by 10% to VND13,330 billion. Debt with the possibility of losing capital (group 5 debt) increased by 40% to VND8,562 billion, accounting for nearly 27% of total bad debt.
Accordingly, the bad debt ratio by the end of the third quarter decreased from 4.1% to 3.5%. The bad debt coverage ratio decreased from 86% to 55%.
In addition to VPBank, Nam A Commercial Joint Stock Bank (Nam A Bank) also announced its business results for the first 9 months of the year with pre-tax profit reaching more than VND 3,800 billion, up 16% over the same period and achieving 77% of the yearly plan.
Total assets as of the end of September reached over VND377 trillion, an increase of over VND132 trillion compared to the beginning of the year. Both deposits and outstanding loans increased by 20% and 17.8% respectively.
What is the forecast for the banking industry's business results in the third quarter?
Analysts said that the banking group is expected to report positive profits in the third quarter of this year, thanks to a low comparison base and strong credit growth.
According to MBS forecast, listed banks' profits could increase by about 22% year-on-year, much higher than the first half of the year which only reached over 16%. The main driving force comes from retail credit, especially the recovering home and consumer loans segment.
Among banks, Vietcombank is forecast to lead with pre-tax profit of nearly VND11,900 billion, up 11% over the same period.
Other banks also recorded remarkable growth, including VietinBank with 44%, VPBank 41%, HDBank 27% and BIDV 26%.
SSI also made a remarkable forecast. Sacombank could be the biggest breakout name with a 111% year-on-year increase in Q3 profit, thanks to revenue from the sale of Phong Phu Industrial Park debt, estimated at over VND6,400 billion.
Source: https://tuoitre.vn/mot-ngan-hang-lai-ki-luc-thu-nhap-binh-quan-nhan-vien-mua-duoc-hon-2-chi-vang-thang-20251015153131513.htm
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