VPBank has continuously been in the “top 50” of the most effective business companies and the best listed company in Vietnam

3 min read

On July 10, Investment Bridge Magazine, in collaboration with Thien Viet Securities Company, held a ceremony to honor the 50 companies with the most effective business activities in 2019, including VPBank.

Not long ago, the prestigious Vietnam Economic Magazine also announced that VPBank was voted into the list of 50 best listed companies on Vietnam’s stock market. This is the 3rd consecutive year, since listing shares on HOSE since 2017, VPBank has been honored in this list.

“List of 50 best listed companies in 2020” was voted by Forbes Vietnam in the context of Vietnam’s economy and stock market being seriously affected by Covid-19 epidemic.

Forbes Vietnam affirmed that the companies in this year’s list are all companies with “strong foundations, not only good business results in 2019 but also expected to be resilient in the business context.” Vietnam’s economy faces the most challenges in the past 10 years. “

The reason VPBank was selected for the above lists, according to the organizers, was that the bank had a double growth rate in terms of revenue, profit, profitability on equity and profit growth per share (EPS) good continuously from 2015-2019.

In addition, companies with effective business operations are also companies with sustainable development reflected in factors such as brand strength, corporate governance quality, profitability and development. Prospects for sustainable development in the future.

Since 2016, VPBank has always been among the most profitable private businesses. The bank’s consolidated profit before tax increased from VND 4,900 billion in 2016 to VND 10,324 billion in 2019. At the same time, VPBank is also the bank with the highest revenue among private banks. In 2019, the bank’s consolidated revenue reached VND 36,356 billion, an increase of 20.3% compared to 2018 if calculated on core business activities. Return on equity (ROE) is always maintained at a high level, reaching 21.5% in 2019.

The sustainable and breakthrough development in business activities in recent years has contributed to bringing VPBank’s brand power to a new level. In 2019, VPBank was first voted by Brand Finance as one of the 500 most valuable banking brands in the world, ranked at 361. One year later, the bank’s brand value increased by 81 places, to 280. The leap in VPBank’s brand strength has given the bank a great advantage in expanding its business operations and maintaining sustainable development in the future.

In the first half of 2020, by taking proactive measures to cope with risks from the Covid-19 epidemic, in parallel with measures to maintain flexible business operations, VPBank has once again shown that the bank is worthy of in the list of the best listed companies in 2020.

By the end of May 2020, VPBank’s consolidated profit before tax was about VND 5,100 billion, equivalent to 50% of the year plan. The profit level is expected to reach about VND 6,000 billion by the end of June.

At the new general meeting of shareholders held in late May, the bank’s leader said that VPBank could achieve a 10% -20% higher profit in 2020 than the target of VND 10,214 billion in the absence of There are more unusual developments from the disease.

Source: bizlive.vn