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VPB: VPBank is one of the 50 most effective companies in Vietnam

Saturday - 07/07/2018 21:08
Vietnam Prosperity Bank (VPBank) has been selected as one of the 50 most effective companies in Vietnam, and reached the TOP 50 best listed companies on Stock Exchange of Vietnam in 2018.
Particularly, with impressive business results and financial ratios, VPBank was ranked as the first bank in the banking industry and ranked 16th among TOP 50 companies. In Vietnam, Forbes Vietnam ranks VPBank in TOP5 Banking sector and 26th in the ranking of 50 companies listed on the best stock exchange in Vietnam.

These rankings are based on a three-year benchmarking of business results, based on key growth indicators such as revenue, return on equity (ROE), return on equity shares and for the purpose of objective assessment of corporate governance capacity.

Since VPBank, since 2016, VPBank has always been one of the most profitable banks in terms of equity and profitability. In the first quarter, ROA and ROE of VPBank reached 3.3% and 34.2%, respectively, compared to 2.5% and 27.5% at the end of 2017. These figures for 2016 are 1.86 % and 26% respectively.

With the criteria to become one of the largest retail banks in Vietnam, VPBank has pushed retail products and gained good results in recent years. For example, in May, the Vietnam Bankers' Association announced the list of credit institutions with the number of new issuance cards and card spending at the top of the market.

In this list, VPBank's issued credit card accounts for 19% of the total number of cards issued in the market in 2017, ranking at number 1. In the first quarter of 2018, the number of VPBank card issuance accounting for 27.6% of the total number of Master and Visa cards issued throughout the market. In terms of card sales, VPBank is also the number one bank in Vietnam with 17% market share at the end of 2017 and 21.1% at the end of the first quarter of 2018.

The high use of capital contributed VPBank to the top four banks with the highest net profit after tax, reaching VND 8,133 billion in 2017, compared to VND 4,900 billion in 2016. In the first quarter of 2018, VPBank's pre-tax profit was posted at VND2,619 billion, up 36% y / y. This is the highest profit level in the first quarter that VPBank has achieved so far.

In addition, the capital adequacy ratio (CAR) of the bank also reached 15.2%, much higher than the 9% set by the State Bank, and increased nearly 35% over the same period. The short-term mobilization rate for medium and long term loans has fallen to 29.7%, ensuring the implementation of the SBV's roadmap.

Moody's Investors Service (Moody's) Moody's has upgraded VPBank's base credit rating (BCA) from B3 to B2. last April. At the same time, Moody's also raised the bank's counterparty risk rating from B1 to B1 and raised the Bank's outlook from Stable to Positive.

According to Moody's, the growth rate of scale and the leading market share in the consumer finance sector with high profit margin contributed significantly to VPBank's strong earnings growth.

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