VPBank annouces record pre-tax profit in 2019 With the result, VPBank has officially joined the list of the few banks with profit of over VND10 trillion. The bank’s total consolidated operating income last year reached VND36.35 trillion, an increase of 20.3 per cent compared to the previous year. Consolidated credit growth reached 17.6 per cent, higher than the average growth of the whole system. Deposit growth rate reached 23.7 per cent compared to 2018, helping the bank ensure capital adequacy and expand business operations. VPBank attributed the record result to the breakthrough in the segments of consumer finance, individual customers and small and medium enterprises. Thanks to the exploitation of existing individual customer base and search for new customers, as well as the expansion of the ecosystem via diverse financial products and services, profit generated from the individual customer segment has risen by more than 120 per cent compared to 2018. This is the strongest growth recorded in the individual customers segment of VPBank so far. The corporate customer segment has also made impressive advances in the past year. In particular, profit earned from the small and medium enterprise segment increased by 36 per cent. At the end of 2019,… Read full this story
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