VPBank’s net income reached VNĐ14.4 trillion. Its  operating income in the first six months stood at VNĐ16.8 trillion, with 23.3 percent year-on-year increase, while pre-tax profits was over VNĐ4.3 trillion, up 23.4 percent year-on-year. 

VPBank’s profit growth is largely attributed to the improved processes, reorganised structure, and good labour performance. It is one of the many Vietnamese banks looking for ways to raise capital in international bonds in an effort to meet central bank’s regulations on the minimum capital requirements and other Basel II standards by 2020. The central bank granted an approval to the bank in the first half of the year for the application of Basel II. 

VPBank plans to issue foreign currency bonds worth up to $1.12 billion, likely to be issued under the Euro Medium Term Note Programme. These bonds will be issued to investors by next year and listed on the Singapore Exchange. 

Financial expert Nguyễn Trí Hiếu told local media that banks might benefit from low-interest rates in international markets, but will be on the receiving end of forex fluctuations. “In the context of forex volatility which tends to increase, international bond issuances will face significant risks,” he said. 

The bank has been investing efforts to improve labour productivity coupled with revamping other areas including organisational structure and process. By the end of the year, the bank hopes to clear its bad debts at the Việtnam Asset Management Company, local media reported. 

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February 12, 2015: Aiming to support and share the financial difficulties with its customers during Tet, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) deploys the “Prosperous Loans, Amazing Fortune” with outstanding advantages.

Up to March 20, 2015, customers availing loans with collateral for purchase of cars, real estate, and for business and consumption will enjoy interest rate of 6.99% p.a. in the first six months.

With the longest loan term on the market of 25 years, limit of up to VND 10 billion and minimum processing time of two working days, the program promises to be an optimal solution for customers having financial difficulties.

VPBank also offers exclusive privileges when customers purchase houses at Vinhomes real estate projects under Vingroup.

Customers will receive a Step-Up MasterCard credit card with limit of VND 50 million and free annual fee for the first year. Customers participating in this program will become Gold Club members for VPBank’s Priority customers, immediately owing a Debit Master Card, Vietnam Airlines Platinum card and enjoy the privileges reserved for VIP customers.

Being one of the leading joint-stock commercial banks in Vietnam, VPBank has always strived to improve products and services to offer outstanding benefits to customers. This is not only demonstrated by the launching of an abundance of products and services, but also by service quality and value-added services in order to bring peace of mind to customers when they use VPBank products and services.
For more information, please contact: 1900 545 415 or 04 3928 8880 or visit the website: www.vpbank.com.vn.

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February 11, 2015: Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) has received four prestigious awards from reputable international organisations, including “Best Commercial Bank Vietnam 2014”, “Straight-Through-Process”, “Best Banking Product Vietnam 2014” and “Best Trade Finance Bank Vietnam 2014”.

The “Best Commercial Bank Vietnam 2014” Award was presented by UK’s International Finance Magazine (IFM), the most prestigious magazine in the field of Banking and Finance worldwide. The evaluation process was conducted independently, based on audited reports and other parameters.

Also, this is the 8^th consecutive year VPBank has the honour of being given the STP (Straight-Through-Process) Award by The Bank of New York Mellon (BNYM). The STP Award is held annually to honour banks which implement high quality international payment transactions, based on Straight Through Processing, one of the important criteria for evaluating the quality of automated payment of bank. According to BNYM, VPBank achieved STP rates of around 98% in 2013.

The Global Banking & Finance Review (GBAF) of UK presented two awards at the same time to VPBank, namely “Best Banking Product Vietnam 2014” for VPLady card – a product designed specifically for women – and “Best Trade Finance Bank Vietnam 2014”.

Regarding the awards, VPBank’s CEO Nguyen Duc Vinh says: “These prestigious international awards mean the recognition of reputable financial institutions, once again determining the quality of products and services, reputation as well as the prominent competitiveness of VPBank in Vietnam’s banking-financial market. In the near future, VPBank will concentrate on improving its service quality and added value as well as outstanding advantages towards an international standard bank.”

So far, VPBank’s charter capital has reached over VND 7.7 trillion, with a network of more than 200 business units in 33 provinces and cities nationwide. Its total assets are worth more than VND 121 trillion. Thus, VPBank is considered as one of the Joint-Stock Commercial Banks with the largest total assets. In 2013, the profit after tax exceeded VND 1,000 billion for the first time.

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VP Bank organises seminar on Cash Flow Management

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