VPBank in Top 100 of Fortune Southeast Asia 500 ranking

VPBank is honored to be one of the 500 largest companies in the region, in terms of total revenue, according to the latest announcement of the Fortune 500 ranking specifically for Southeast Asia. Ranked 91st in the Fortune Southeast Asia 500 ranking, VPBank stands shoulder to shoulder with many famous financial institutions in the region such as DBS, UOB and OCB of Singapore, Maybank and CIMB of Malaysia, or Kasikornbank and Bangkok Bank of Thailand, along with many other domestic banks such as Vietinbank, BIDV , Techcombank... VPBank's revenue in 2023, according to Fortune's calculation formula, will reach approximately 4.05 billion USD, with after-tax profit recorded at nearly 419 million USD, while total assets reached 33.7 billion USD as of December 31, 2023. This is the first time that Fortune Magazine has published a ranking of the 500 largest enterprises based on revenue for the 2023 fiscal year specifically for the Southeast Asian region. The importance of the regional economy - emerging from the shift in global supply chains and the rapid growth of many large corporations and enterprises - is the main driving force for this prestigious magazine to rank the largest companies in the region, making the Fortune Southeast Asia 500 ranking an annual assessment activity alongside the prestigious Fortune 500, Fortune Global 500 and Fortune Europe 500 rankings. The ranking brings together companies from 7 Southeast Asian countries, including Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia. Vietnam has 70 enterprises on the list, ranging from finance-banking, real estate, energy, food, heavy industry, to aviation, retail, etc. The minimum revenue threshold for a business to be included in the list is more than 460 million USD. Banking is the second largest sector in Southeast Asia, according to statistics from the Fortune Southeast Asia 500 rankings, with the total revenue of 67 credit institutions reaching 242 billion USD, second only to the energy sector with a revenue contribution of nearly 591 billion USD in 2023. As one of the earliest established credit institutions in Vietnam, VPBank is currently one of the leading commercial banks in terms of operating efficiency and business profits. The bank operates strongly in the retail and SME segments, and is gradually conquering the FDI customer segment to exploit the potential from the strong wave of foreign investment flowing into Vietnam in recent years. 2023 marks a new milestone in VPBank's capital, when the bank's equity reaches approximately VND 140,000 billion (~ USD 5.7 billion), ranking second in the Vietnamese banking system, after the sale of 15% of capital to strategic shareholder SMBC (Japan). At the end of the first quarter of 2024, VPBank recorded a consolidated pre-tax profit of more than VND 4.1 trillion (~ USD 165 million), an increase of nearly 66% over the previous quarter and 64% over the same period. Source: https://www.vpbank.com.vn/tin-tuc/thong-cao-bao-chi/2024/vpbank-lot-top-100-bxh-fortune-southeast-asia-500