VPBank: Leading the Way in Contributing to Vietnam’s Prosperity
VPBank, one of the top private banks in Vietnam, has been recognized for its significant contributions to the state budget.
VPBank has been recognized as one of the top two private banks in Vietnam for its contributions to the state budget, according to a recent announcement by CafeF. In 2023, VPBank contributed nearly VND 6,000 billion, equivalent to 55% of its pre-tax profits. Over the last three years, the bank has contributed more than VND 18,400 billion to the state budget.
This impressive performance reinforces VPBank’s position as a leading financial institution in Vietnam and underscores its commitment to supporting the country’s economic growth and social development.
VPBank has a diverse range of business segments, offering comprehensive financial products, services, and solutions to its customers.
VPBank, Vietnam’s most diverse bank in terms of business segments, has developed an extensive ecosystem of financial products, services, and solutions. This includes lending, savings, investment options, insurance, and wealth management, allowing the bank to effectively serve a wide range of customers, from FDI corporations to large, medium, and small enterprises, as well as individual clients.
Beyond revenue growth, VPBank is committed to building a sustainable foundation for long-term development. The bank has initiated various support programs and initiatives to boost the economy and channel capital into production, business, and green finance. Additionally, VPBank is at the forefront of national programs aimed at mitigating the impacts of climate change, working towards a net-zero emissions goal by 2050.
VPBank also actively engages in philanthropic activities, contributing thousands of billions of dong in recent years to support the community and promote humanitarian values. These efforts not only benefit the bank but also contribute to the sustainable development of the community and the country.
Maintaining Leadership through Challenges
VPBank has navigated through economic challenges and remains committed to supporting its customers and the economy.
2023 has been a challenging year for the Vietnamese economy, especially for the banking system, with liquidity and corporate bond crises extending from late 2022 into early 2023. Slower economic growth, reduced credit demand, and weakened financial health of customers have impacted the operations of banks.
VPBank has adapted to these challenges by leveraging its strengths, including its large customer base, strong governance, and flexible business strategy. The bank has stood by its customers, helping them navigate through difficulties and contributing positively to the economy.
For the first half of 2024, VPBank’s consolidated pre-tax profit increased by nearly 68% compared to the same period last year, reaching over VND 8,600 billion, with contributions from its diverse ecosystem. This places VPBank among the banks with the best profit growth in the first six months of the year.
VPBank is focused on strategic customer segments and aims to maximize revenue and profit opportunities.
As one of the largest private banks in Vietnam, VPBank is committed to not only achieving impressive business results but also upholding its mission of contributing to the country’s development and prosperity. With economic growth projected at around 6.5% for 2024, VPBank is focusing on strategic customer segments, including SMEs, consumer finance, and the emerging FDI sector, to optimize market opportunities and maximize revenue and profit.
With its effective governance, continuous efforts to streamline operations, and agility in seizing business opportunities, VPBank is poised to accelerate its momentum and achieve its business goals in the coming months.
Looking ahead, VPBank will continue to pursue a sustainable development strategy, enhance digital transformation, improve service quality, and expand its scale of operations. The bank remains dedicated to partnering with the government and the banking industry in economic and social development programs, striving for a sustainable and prosperous future for Vietnam.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
VPBankS wins award for “Most Innovative Stock Trading App 2023”
VPBankS, a subsidiary of VPBank, has recently been awarded the “Most Innovative Stock Trading Application” by the International Finance Magazine. This prestigious accolade distinguishes VPBankS as the only securities company in Vietnam to receive such recognition in 2023.
