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VPBank reported a 67% year-on-year increase in consolidated pre-tax profit for the first nine months of 2024, reaching nearly VND 13.9 trillion, driven by stable credit growth and effective debt collection strategies. The bank has expanded its FDI customer portfolio to 500 enterprises and partnered with Lotte C&F Vietnam and BYD to enhance its market presence. Additionally, VPBank's brand value rose to $1.35 billion, placing it among Vietnam's top 10 most valuable brands.
VPBank has successfully expanded its FDI customer portfolio to over 500 companies, enhancing its market presence through strategic partnerships, including with Lotte C&F Vietnam and BYD. The bank reported a 67% increase in pre-tax profit for the first nine months of 2024, driven by stable credit growth and effective debt recovery measures, while maintaining a low bad debt ratio. Additionally, VPBank is optimizing its operations with a new flagship branch in Ho Chi Minh City, aiming to meet diverse customer needs in the digital banking era.
VPBank reported a consolidated pre-tax profit of nearly VND 13.9 trillion for the first nine months of 2024, marking a 67% increase year-on-year, driven by strong interest income and effective debt collection strategies. The bank's capital adequacy ratio stands at 15.7%, leading the industry, while its brand value rose to $1.35 billion, placing it among Vietnam's top 10 most valuable brands. Additionally, VPBank is expanding its operations to cater to large corporate and FDI customers, enhancing its market presence through strategic partnerships.
VPBank reported a consolidated pre-tax profit of nearly VND 13.9 trillion for the first nine months of 2024, marking a 67% increase year-on-year. The bank's capital adequacy ratio stands at 15.7%, and it has successfully optimized its operations through digitalization, maintaining a low bad debt ratio below 3%. Strategic partnerships, including collaborations with Lotte C&F and BYD, are enhancing its market presence, particularly in the FDI segment.
VPBank and Lotte C&F Vietnam have signed a Memorandum of Understanding to enhance financial services for Lotte customers, focusing on "Buy Now, Pay Later" products. This partnership aims to create innovative financial solutions, including co-branded cards and digital payment options, while expanding VPBank's reach among foreign direct investment clients in Vietnam.
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