Phung Duy Khuong, deputy director of VPBank's Individual Customers Department received the awards. — Photo courtesy of VPBank
VPBank has been honoured in the Top 50 most effective companies and the best listed company in Viet Nam.
The awards were voted on by Tap chi Nhip cau Dau tu (Investment Bridge Magazine), in collaboration with Thien Viet Securities Company. Earlier, the bank was also honoured in the list by Forbes Viet Nam. This is the 3rd consecutive year, since listing shares on HOSE in 2017, VPBank has been honoured in this list.
The ‘50 best listed companies in 2020’ was voted on by Forbes Vietnam as Viet Nam’s economy and stock market being seriously affected by the COVID-19 epidemic.
Forbes Vietnam affirmed that the companies in this year’s list have “strong foundations, not only good business results in 2019 but also expected to be resilient in the business context. Viet Nam’s economy has been facing the most challenges in the past 10 years.”
VPBank reported a double-digit growth rate in terms of revenue, profit, return on assets (ROA) and earning per share (EPS) in the 2015-19 period. In addition, the bank had sustainable development reflected through factors of brand-name strength, corporate governance and prospects for sustainable development in the future.
Since 2016, the bank has been on the list of private firms with the highest profit. Its consolidated pre-tax profit increased from VND4.9 trillion (US$211.6 million) in 2016 to VND10.3 trillion in 2019. It posted the highest revenue among private banks. Last year, its consolidated revenue reached VND36.3 trillion, posting a 20.3 per cent year-on-year increase. Its return on equity was maintained at a high level of 21.5 per cent.
The sustainable development and breakthroughs in its business activities in the past few years have contributed to bringiing VPBank’s brand to a new height. In 2019, VPBank was the first time voted by Brand Finance as one of the Top 500 most valuable bank brand-names in the world. The bank’s brand-name this year jumped 81 positions to 280th. The leap has brought the bank advantages to expand business activities and maintaining sustainable development.
In the first five months of this year, VPBank posted pre-tax profit of VND5.1 trillion, meeting 50 per cent of the whole year’s set targets. It was expected that its pre-tax profit in the first half of the year would reach VND6 trillion. The bank expected that its profit would increase by 10 to 20 per cent this year if there were no abnormal changes from the COVID-19 pandemic. — VNS