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VPBank (Vietnam Prosperity Bank) held its annual general meeting for 2026 on the afternoon of April 22, approving key items covering business strategy, profit planning, dividend policy and a plan to increase charter capital. CEO Nguyen Duc Vinh said the bank’s credit growth has remained strong in recent years, supporting both scale expansion and improved business efficiency.
In 2025, VPBank’s credit growth reached about 35%. The momentum continued into Q1 2026, when credit rose 10.2%, equivalent to 3.4 times the economy’s overall 3% growth.
Management attributed the performance partly to VPBank’s absorption of weaker banks and to the State Bank of Vietnam granting higher credit growth limits than the industry average. Based on this, VPBank set a 2026 consolidated pre-tax profit target of 41.323 trillion dong, up 35% year-on-year. If achieved, it would be the highest pre-tax profit among private banks and the first in this group to surpass 40 trillion dong in annual pre-tax profit.
Alongside the profit target, VPBank plans to expand lending, with outstanding credit approaching 1.3 quadrillion dong in 2026, up 34%. On the funding side, total deposits from customers and issuances of marketable securities are expected to exceed 1.03 quadrillion dong, up 40% from the previous year.
On liquidity, CEO Nguyen Duc Vinh noted that Q1 showed some pressure, reflected in broad-based increases in deposit rates across all tenors due to strong credit demand. He expects the high-rate trend to be short-term and could ease from late Q2 or early Q3 2026 as macroeconomic factors stabilize.
On asset quality, VPBank said the bad-loan ratio has an upward trend but remains within control. Bad loans mainly came from the retail segment and small and medium-sized enterprises, linked to the bank’s expanded lending to these groups. Management said a higher-than-average bad-loan level is consistent with VPBank’s business model, which emphasizes mass retail and micro SMEs that offer higher margins but higher risk.
For FE Credit, the consumer finance arm, the non-performing loan ratio rose to about 20% after the pandemic but fell to 14–15% in the past year. The bank aims to continue restructuring and bring the ratio to 11–12%, aligned with norms for the consumer finance sector.
Regarding net interest margin (NIM), VPBank currently maintains about 4.53–4.6% in Q1 and expects an average of around 4.4% for the year. Management said NIMs across the industry could face downward pressure amid macro challenges, but VPBank expects support from a diversified product portfolio and a high share of high-yield lending.
The AGM approved the 2025 cash dividend payout at 5%. The payout is expected in Q2 or Q3 2026, subject to the board’s decisions. The total cash dividend is estimated at nearly 4.0 trillion dong. After the payout, retained earnings are expected to stand at about 15.986 trillion dong.
A major item approved at the meeting was the plan to increase charter capital. VPBank intends to raise capital from more than 79.3 trillion dong to more than 106.0 trillion dong through two share issuances.
In the first issuance, VPBank will issue more than 2 billion shares from equity, representing 26.04% of outstanding shares. The funding source is additional capital reserves and share premium, totaling more than 20.6 trillion dong. After this issuance, charter capital is expected to rise to 100.0 trillion dong.
The second issuance is a private placement of more than 624 million shares to foreign investors, adding about 6.243 trillion dong to charter capital. The recipients could include existing strategic shareholders or international financial institutions that meet the bank’s criteria.
If both plans are completed, VPBank would raise charter capital to 106.244 trillion dong, which would make it the bank with the largest charter capital in the system.
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