VPBank is in the Top 20 enterprises with the highest ESG score in the VNSI basket
For the 6th consecutive time, VPBank has been in the Top 20 enterprises with the highest Environmental, Social and Governance (ESG) scores in the Vietnam Sustainable Development Index (VNSI) basket of the Ho Chi Minh City Stock Exchange (HSX), and is also in the Top 5 stocks with the largest market capitalization in 2024.
In the latest sustainability assessment by HSX, VPBank's scores for the Environmental, Social and Governance components were all higher than the industry average and the VN100 average. In the assessment, HSX assessed that VPBank has done a good job in building an environmental management system, social policies, employee relations, shareholder rights and always ensuring information disclosure and transparency. Being in the Top 20 stocks in the VN100 with the highest ESG scores for the 6th consecutive time once again affirms VPBank's tireless efforts to create a sustainable and comprehensive development ecosystem. The Vietnam Sustainability Index (VNSI) has been deployed by HSX since 2017 with the aim of assessing sustainable development activities at listed companies, honoring companies with the best practices, and promoting responsible and sustainable investment in the Vietnamese stock market. The assessment is conducted annually by HSX based on publicly available information sources and provided by listed companies through the Sustainability Survey Questionnaire, which is built on the basis of the Global Reporting Initiative's GRI Standards, the G20/OECD Corporate Governance Principles 2015, the 2019 Corporate Governance Principles according to best practices and a number of legal regulations on securities in Vietnam. VPBank (HSX: VPB) in 2024 will continue to be one of the 5 stocks with the largest market capitalization in the VNSI index, along with Vietcombank , VietinBank, Vingroup and Vinamilk. VPBank's capitalization value as of November 5, 2023 reached more than VND 156 trillion (~ USD 6.4 billion). The bank's charter capital is currently leading the system with VND 79,339 billion. In addition, VPBank is the only enterprise in the entire market to implement Climate-Related Financial Disclosure (TCFD). The disclosure of climate-related financial information is expected to provide a clear and transparent picture of how VPBank realizes its goal of net zero emissions, thereby affirming the bank's sustainable development strategy. At the end of the third quarter of 2024, VPBank's consolidated pre-tax profit reached nearly VND 13.9 trillion, an increase of more than 67% over the same period in 2023. The parent bank contributed more than VND 13 trillion. Outstanding credit including customer loans and corporate bonds of individual banks reached more than VND 581 trillion, an increase of more than 10% compared to the beginning of the year and higher than the industry average (8.5%). The bank continues to optimize its customer mobilization portfolio and diversify its international medium- and long-term capital sources. In the third quarter, VPBank and the Japan Bank for International Cooperation (JBIC) signed a credit contract worth up to 150 million USD to finance renewable energy and power transmission projects in Vietnam, contributing to the realization of the national goal of reducing net emissions to zero by 2050. The cost of capital of individual banks continued to be optimized at 4.1% in the third quarter and decreased by more than 2% compared to the whole year of 2023. Liquidity safety ratios such as LDR ratio (82.3%), short-term capital ratio for medium and long-term loans (24.6%) are all at a good level compared to the regulations of the State Bank of Vietnam. The capital adequacy ratio (CAR) of the consolidated bank reached 15.7%, continuing to lead the whole industry, creating a strong growth foundation in the coming time. Source: https://nhipsongkinhte.toquoc.vn/vpbank-lot-top-20-doanh-nghiep-co-diem-esg-cao-nhat-ro-vnsi-20241106171538423.htm
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