According to VPBank's leaders, after being forced to transfer to VPBank, GPBank will be profitable this year - Photo: Contributor
GPBank expects to make a profit of 500 billion VND this year
On the afternoon of April 28, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) held its 2025 annual general meeting of shareholders.
The "health" of the zero-dong bank GPBank after 2 months of being transferred to VPBank is a matter of special interest to VPBank shareholders.
Mr. Ngo Chi Dung - Chairman of the Board of Directors of VPBank - replied that VPBank received the handover of GPBank last March. GPBank is expected to achieve a minimum profit of VND 500 billion in 2025.
In the GPBank restructuring project, VPBank's board of directors and executive board have prepared very carefully.
Today, April 28, VPBank also announced the list of personnel approved by the State Bank for GPBank. This is one of the important steps in the restructuring project.
Along with that, the strategy building for GPBank is also about to be completed with consulting support from McKinsey.
"Before taking over, GPBank lost an average of VND1,000 billion per year. According to our plan, although there are only 8 months left this year, GPBank is expected to not only not lose money but also achieve a minimum profit of VND500 billion," informed the chairman of VPBank.
Mr. Nguyen Duc Vinh - General Director of VPBank - shared that VPBank is building a plan so that GPBank can make a profit for the first time in 2025, after 20 years of continuous losses.
This year, VPBank continues to pay cash dividends.
That was the affirmation of VPBank's chairman at the 2025 shareholders' meeting. Specifically regarding the dividend policy, Mr. Dung said that more than 3 years ago, VPBank's board of directors announced that it would maintain the policy of continuously paying cash dividends for 5 years, even though it had not paid for 12 years before.
Over the past 3 years, VPBank has maintained cash dividend payments of approximately VND4,000 billion each year. Thus, in the next two years, VPBank will continue to maintain its cash dividend policy.
The specific dividend level for each year will be calculated and depends on the business situation, market, macro economy ... But VPBank will certainly continue to maintain the cash dividend payment for the 4th and 5th years.
Regarding this year's business target, Mr. Vinh said VPBank set a pre-tax profit growth of VND25,270 billion. Credit growth is about 25%, capital mobilization is up more than 30% compared to the end of 2024.
Real estate bad debt continues to increase this quarter
Regarding bad debt, according to Mr. Vinh, there will be a clear trend in the first 6 months of this year. Part of the reason is that real estate loans were restructured in 2024, and the restructuring period has now expired and must be reflected according to the actual situation.
Besides, some projects that shareholders are interested in, such as Novaland , have also made progress, improving about 30% of legal documents.
"We believe that there will be a roadmap to continue handling the remaining 70% with banks in the coming time. In general, the real estate bad debt situation is increasing in the first and second quarters, but will be controlled and stabilized from the second half of the year onwards," said Mr. Vinh.
Source: https://tuoitre.vn/tu-lo-trien-mien-20-nam-qua-gpbank-du-kien-nam-nay-co-lai-20250428185325847.htm
Comment (0)