VPBank's ecosystem strategy to reach trillion-dong targets

VPBank’s ecosystem strategy is designed to position the group for total assets exceeding 1.6 quadrillion dong, funding mobilization above 1 quadrillion dong, and consolidated net profit of more than 41.3 trillion dong in 2026. The bank’s outlook for the year is tied to the growing role of an open, differentiated financial ecosystem, where each business unit reinforces the others to create a synergistic effect.

2025 progress: ecosystem expansion and profitability momentum

In 2025, VPBank’s governance model was effectively finalized as the ecosystem broadened in both scale and contribution to growth. VPBankS recorded the largest IPO in Vietnam’s securities sector and posted pre-tax profit of 4.476 trillion dong.

VPBankS also expanded its brokerage footprint, reaching more than 1.1 million accounts. The brokerage arm gained market share and entered the top 10 on HOSE in Q4 2025, while maintaining top-10 positions on HNX and UPCoM.

In consumer finance, FE CREDIT returned to profitability for a second consecutive year, reflecting restructuring benefits supported by VPBank and SMBC, alongside resilience amid volatile market conditions. OPES sustained strong growth with profit of 638 billion dong, contributing to group results and enabling deeper cross-selling across the ecosystem.

Key financial and advisory indicators

VNDirect analysts noted that VPBank’s approach leverages a comprehensive ecosystem spanning brokerage, insurance, asset management, and consumer finance to serve multiple customer segments—from mass-market clients to high-net-worth individuals—while diversifying revenue streams.

• VPBank’s consolidated service revenue rose by about 22% year over year.
• VPBankS’ capital-market advisory activity accounted for nearly 10% of the total primary bonds issued by non-bank issuers in 2025.
• The total value of equity and debt capital-raising advisory and debt-market transactions approached 36,000 billion dong.
• Advisory work included a nearly USD 200 million M&A deal between Kokuyo Group and Thiên Long.

Operational development: group governance and “soft infrastructure”

Operationally, 2025 also marked progress toward formalizing the corporate-group structure through Centers of Excellence (CoEs) and Shared Services. These “soft infrastructure” elements are intended to reduce duplication, speed decision-making, and optimize costs across the network.

2026 targets: ecosystem synergies and group governance

For 2026, VPBank set a target of consolidated pre-tax profit of 41,323 billion dong, up 35% from 2025. The bank identifies “ecosystem synergies and group governance” as one of six core growth pillars, aiming to harness cross-unit strengths to improve efficiency and customer experience.

Segment targets for 2026

• VPBankS: target annual profit of 6,453 billion dong (up 44% from 2025).
• FE CREDIT: target profit of 1,179 billion dong (up 93%).
• OPES: target profit of 936 billion dong (up 47%).

Planned expansion: new ventures and investment channels

VPBank expects to strengthen its position as a leading multi-field financial group through closer integration between the parent bank and subsidiaries, supported by SMBC’s international backing. The framework is intended to give VPBank greater strategic agility at the start of 2026 and to expand long-term development potential from ecosystem-driven growth.

The plan also includes new ventures such as life insurance, asset management, digital assets, and gold trading to broaden the revenue base and investment audience. CAEX (Vietnam Prosperity Crypto Asset Exchange) was established to serve as a specialized platform for trading crypto assets, expanding modern investment channels for Vietnamese investors in the digital economy era.

VPBank’s expansion into gold trading is also expected to diversify its customer base and investment product offerings. Overall, the bank’s moves reflect the increasing importance of the ecosystem in its income mix, as it continues to broaden into life insurance, asset management, digital assets, and gold trading to complete a multi-tier financial group.

With stronger links between the parent and subsidiaries and SMBC’s international backing, VPBank is positioned to consolidate its standing as a leading Vietnam-domiciled financial group and to launch 2026 with enhanced growth prospects.