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PGBank, officially Thinh Vuong and Development Bank (PGBank, UPCoM: PGB), reported improved business results for the first quarter of 2026, with pre-tax profit nearly tripling year-on-year. As of March 31, 2026, the bank’s total assets reached VND 86.711 trillion, while mobilized funding under Market 1 reached VND 47.035 trillion. Despite adjustments in scale compared with end-2025, PGBank said it maintained a stable and safe operating foundation.
Q1 2026 results showed stronger efficiency. Net interest income from business activities reached VND 609 billion, up 20.4% year-on-year compared with Q1 2025. Pre-tax profit rose sharply to VND 275.7 billion, up from VND 96 billion in Q1 2025—nearly three times higher—and accounted for close to 20% of the bank’s 2026 annual plan.
The bank also reported a shift in its income mix toward non-interest income. Non-interest income reached VND 118.4 billion, up 59.7% year-on-year. PGBank noted that income from impairment provisioning increased due to the recovery of some non-performing loans. Meanwhile, net interest income increased modestly by 1.9% year-on-year to VND 424 billion, consistent with a cautious credit growth policy.
PGBank said it continued to maintain safety indicators in line with State Bank regulations and implemented prudent risk management policies aligned with sustainable growth. The bank’s non-performing loan (NPL) ratio was 2.44%, which it described as remaining within a safe threshold.
In Q1 2026, PGBank continued to accelerate digital transformation, modernize its technology infrastructure, develop digital banking platforms, and enhance customer experience. The bank highlighted ongoing implementation of key projects including multi-channel banking, system integration, and digitization solutions, which it said are being carried out in a coordinated manner to support long-term growth.
The results were presented as part of the bank’s 2026 business goals approved at the annual general meeting of shareholders held on April 21, 2026.
At the AGM, Mr. Nguyen Van Huong, CEO and Chairman of the Board of PGBank, said: “In 2026, PGBank will focus on growth with risk management, while accelerating digital transformation to enhance customer experience and optimize operations. The bank will prioritize selective growth, targeting efficiency and long-term sustainability.”
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