VIETNAM PROSPERITY JOINT STOCK COMMERCIAL BANK

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is one of the most prominent publicly held banks in Vietnam, headquartered at No. 89, Lang Ha Street, Dong Da District, Hanoi. Established on September 8, 1993, VPBank has demonstrated strong growth over the years, making it a key player in the country’s financial sector.

Financial Performance and Growth

As of 2023, VPBank reported total assets of USD 33.59 billion, reflecting a 29.56% year-over-year growth. The bank’s owner's equity reached USD 5.53 billion, marking a 39.03% increase from the previous year. VPBank’s loan portfolio also grew significantly, with loans and advances to customers totaling USD 22.66 billion, a 29.86% risecompared to 2022.

However, despite these impressive growth figures, VPBank experienced a notable decline in net profit, falling 49.76% to USD 348.97 million in 2023. Similarly, interest and similar income dropped by 6.94%, reflecting challenges in Vietnam’s banking environment, possibly due to increased loan provisions or shifts in market conditions.

Business Activities and Services

VPBank operates across multiple financial segments, catering to both individual and corporate clients. Its core business activities include:

• Consumer Banking: Offering savings accounts, credit and debit cards, and personal loans.
• Business Banking: Providing business accounts, loans, guarantees, domestic and international payment services, and foreign exchange transactions.
• E-Banking: Developing digital banking services such as mobile banking, telebanking, and home banking.
• Financial Services: Engaging in monetary intermediation, insurance brokerage, and other auxiliary financial activities.

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Ownership and Market Position

VPBank is a publicly traded company listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker symbol VPB. Its ownership structure includes:

• Sumitomo Mitsui Banking Corporation (15.01%)
• Dragon Capital Foreign Fund Group (4.22%)
• Composite Capital Master Fund LP (4.15%)
• Other institutional and individual shareholders (68.36%)

This diverse shareholder base strengthens VPBank’s financial backing and international credibility, making it an attractive institution for investors.

Conclusion

VPBank continues to solidify its position as one of Vietnam’s leading commercial banks. With a strong asset base and a commitment to digital transformation, it has faced recent profit declines. However, its expansion in lending and equity growth demonstrate resilience in an evolving financial landscape.

For businesses seeking Company Credit Reports, Financial Data, and Business Verification Services, Vanguard Business Information LLC is the trusted source for comprehensive company insights and financial transparency, assisting companies in confidently navigating Vietnam’s dynamic market.