NINH BÌNH — Shareholders approved the Prosperity and Development Commercial Joint Stock Bank (PGBank)’s key business targets for 2025, including an increase of 135.3 per cent in pre-tax profits to over VNĐ1 trillion (US$39 million) at its AGM on April 24.

PGBank also set targets of an increase of 17.1 per cent in total outstanding loans to VNĐ48.65 trillion, a 17.6 per cent rise in total deposits to VNĐ78.45 trillion and an increase of 24.9 per cent in total assets (equivalent to VNĐ18.2 trillion) to nearly VNĐ91.23 trillion, compared to the end of 2024.

Those targets keep its non-performing loan ratio (NPL) below two per cent, in compliance with SBV regulations

To achieve these ambitious targets, PGBank focuses activities on four key tasks, including continuing to streamline the organisational structure to enhance productivity, accelerating digital transformation to improve customer experience, optimising operational processes to improve system-wide efficiency and strengthening risk management and maintain sound asset quality.

The Bank also emphasises cost control and aims to reduce the cost-to-operating-income ratio.

At the AGM, PGBank also approved the 2024 performance report, the 2020–2025 BOD term review and the 2025 strategic plan, laying the foundation for the 2025–2030 term.

For the 2025–30 period, the Board of Directors (BOD) aims to position PGBank among the Top 15 joint stock commercial banks in terms of total operating income.

They set goals to increase charter capital to at least VNĐ20 trillion by 2030, maintain annual revenue growth of 25–30 per cent, reduce CIR to under 40 per cent, keep the NPL ratio below two per cent and attract more local and international strategic investors.

2024 marked a significant milestone in PGBank’s restructuring journey.

The bank proactively adjusted its strategies, enhanced operational capabilities, accelerated digital transformation and strengthened customer connectivity to maintain growth momentum, achieving remarkable results.

As of end-2024, the bank’s total assets reached 115 per cent of the year’s plan, up 32 per cent compared to 2023.

Outstanding loans reached 103 per cent of the plan, an increase of 15.8 per cent, while total mobilised capital reached nearly VNĐ66.7 trillion, equivalent to 118 per cent of the plan, up 33.9 per cent or VNĐ16.9 trillion compared to end-2023.

The NPL ratio stood at 2.07 per cent, down 0.5 per cent compared to 2023, and pre-tax profit reached VNĐ425 billion, equivalent to 76.8 per cent of the year’s target. — BIZHUB