VPBank profits jump 26 pct
By Mei Ling Tan
1 min read
Lender VPBank reported a 26 percent jump in pre-tax profit last year to VND13 trillion ($564.24 million).
The second and fourth quarters saw its highest ever quarterly profits of VND3.67 trillion and VND3.62 trillion.
The lender’s profits exceeded those of state giant BIDV and private lender VIB.
Its income was up 7.3 percent to VND39 trillion, with interest income accounting for nearly 83 percent.
Services and securities trading were profitable, but foreign exchange trading caused a loss.
Credit growth was 13.1 percent, and non-performing loans accounted for 2.9 percent.
In 2019, VPBank had reported the sixth-largest pre-tax profit behind Vietcombank, Techcombank, Agribank, VietinBank, and BIDV.