VPBank named in Top 50 Best-performing Companies

Thursday, Jan 20, 2022 16:19

Pham Phu Khoi, VPBank's Deputy General Director, receives the award. — Photo courtesy of the bank

VPBank has been honoured in the “Viet Nam’s 50 Best-performing Companies” (TOP50) for five consecutive years thanks to its proactive business focus and controlling risks well during the pandemic in Viet Nam.

The bank always has many active methods to support customers to overcome difficulties and continuously gain success.

VPBank was also one of 20 businesses in the TOP50’s billion-US dollar club despite fierce competition in the financial banking market as well as negative impacts from the pandemic.

This is an annual ranking developed by Nhip cau dau tu Magazine in tandem with Thien Viet Securities to honour the most effective companies on Viet Nam's stock exchange.

To objectively assess the management capacity of enterprises, TOP50 evaluates businesses’ results of three consecutive fiscal years, based on three indicators: revenue, return on equity (ROE) and earnings per share (EPS).

TOP50 2021 will especially honour companies bigger in size, greater in market value and robust growth rate, who are the country’s pride.

VPBank was chosen in the ranking as it is a bank with good compound growth rates in terms of revenue, profit, ROE and EPS growth continuously from 2015 to 2020. By the end of the third quarter of 2021, its consolidated before-tax profit reached more than VND11.7 trillion (US$514.6 million), up 24.9 per cent over the same period of 2020. Its return on assets (ROA) was 3.05 per cent and ROE 27.9 per cent. These two indices were 2.02 and 22.7 per cent, respectively, in the previous year.

The sustainable development and breakthrough in business activities over the years contributed to bringing VPBank's brand strength to a new height. In 2021, VPBank was first voted by Brand Finance as one of the 250 most valuable banking brands globally. Moody's, the world's leading credit rating agency, also maintains the baseline credit rating (BCA) for VPBank at B1 with a positive outlook. VPBank's leap in brand strength has given the bank a great advantage to expand its business to international markets in the future.

“Being honoured as the Top 50 Best-performing Companies continues to show that VPBank has set out a business strategy in the right direction, with a stable foundation and sustainable development, despite the complicated developments of the COVID-19 pandemic,” the bank representative said.

The ranking is also referenced from world rankings such as Bloomberg, Businessweek, Fortune and Forbes. This is one of the reputable rankings in the Vietnamese financial market.

Earlier, VPBank also won many prestigious awards at home and abroad such as the Viet Nam Bank with the Best Investor Relations Award (Global Banking and Financial Review); Top four largest bank brands in Viet Nam (Forbes magazine); House of the Year (Asia Risk magazine); the most innovative digital bank 2021 (The Digital Banker magazine); the largest private bank in Viet Nam (Vietnam Report). — VNS

Comments (0)