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Banking & Finance

VPBank releases 2014 financial report

Released at: 10:20, 08/03/2015

VPBank releases 2014 financial report

Significant increases seen in total assets and total profit.

by Hung Nguyen

The Vietnam Prosperity Bank (VPBank) released its 2014 financial report on March 6. Total assets were VND163.24 trillion ($7.76 billion) as at December 31, 2014, an increase of VND41.97 trillion ($1.99 billion) and 34.6 per cent compared to 2013.

The bank also recorded a significant increase in profit, to VND1.6 trillion ($76.19 million) pre-tax and VND1.25 trillion ($59.52 million) after-tax, growing 19 per cent and 23 per cent, respectively.

ROA was 0.88 per cent and ROE 15 per cent in 2014.

Total provisions were VND979 billion ($46.61 million), while non-performing loans (NPLs) were at 2.54 per cent.

Customer deposits increased 29 per cent and the bank, for the first time, exceeded VND100 trillion in deposits, of VND108.35 trillion ($5.15 billion), an increase of VND24.51 trillion ($1.16 billion) compared to 2013.

VPBank previously sent official documents to the State Securities Commission regarding raising its charter capital in 2015, by a maximum of 15 per cent.

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