VPBank has demonstrated strong financial performance in the first three quarters of 2024, with a consolidated pre-tax profit increasing by over 67% compared to the same period last year.
The bank's consolidated operating income saw a substantial increase of almost 23%, driven primarily by a surge in interest income. The bank's individual branches reported a 26% rise in operating income, facilitated by a strategic focus on digitization and process automation.
Notably, FE Credit, a subsidiary of VPBank, recorded a profit of nearly VND 3 trillion in the third quarter, reflecting a successful restructuring process. VPBank has maintained its non-performing loan (NPL) ratio below 11% and has implemented measures to reduce loan interest rates by up to 1% to stabilize production and business activities.
The bank's capital adequacy ratio stands at a robust 15.7%, and its liquidity ratios remain well within regulatory limits.
VPBank has expanded its market presence through the opening of a flagship branch in Ho Chi Minh City and strategic partnerships with SMBC, Lotte C&F Vietnam, and BYD.
The bank's brand value has increased by nearly 6% in 2024, reflecting its commitment to innovation and customer-centric services.