Online meeting with investors, VPBank revealed that Q1 profit tripled over the same period

April 23, 2022 07:37 GMT+7

At the exchange, VPBank announced business results with the first quarter’s consolidated pre-tax profit (PBT) reaching VND 11,146 billion, nearly 3 times higher than the same period in 2021, leading the industry in growth rate. in the first quarter of 2022. With this result, VPBank has achieved 37% of the PBT plan in 2022 which is being submitted to the General Meeting of Shareholders. The strong growth in EBT also helped bring VPBank’s equity (equity) to more than VND 95 trillion, an increase of 70% over the same period and bringing the consolidated CAR to more than 15%.

In the first quarter of 2022, VPBank recorded total consolidated operating income (TOI) of VND 18,270 billion, up 65.3% over the same period. Consolidated net interest income reached VND 9,888 billion, up 8.4% year-on-year, while non-interest income reached VND 8,381 billion, 4 times higher than the same period in 2021 thanks to the support fee from the exclusive cooperation agreement on insurance distribution between VPBank and AIA Vietnam.

In the first quarter of 2022, the parent bank achieved credit growth of 10.3%, twice as high as the industry average and one of the banks with the highest credit growth in the industry. Strategic customer segments such as RB and SME continue to be key contributors to this result. Besides, deposit growth also reached 11.5%, helping to ensure good liquidity ratios.

VPBank set targets with EBT doubled from last year to nearly VND 30 trillion and credit growth increased by 35%. Besides, the base scenario with scale growth of about 20-23% is also developed by the Bank.

Ngan Giang