Billion-VND" profit group
For many years, the 10,000 billion VND profit per quarter mark has been considered the highest measure in the listing business group, associated with the names of state-owned banks such as Vietcombank or VietinBank. If only considering core business operations, no private bank has achieved a profit level of "ten billion VND per quarter". Not counting banks, Vinhomes also once exceeded the "ten billion" profit per quarter mark, but only at the time of project handover.
However, that picture is gradually changing. The 10,000 billion VND group in the last quarter of 2025, in addition to Vietcombank and VietinBank, BIDV and especially the name of a leading private bank in the system can also be recorded.
In Q4/2025, VPBank recorded pre-tax profit of more than 10,200 billion VND, the highest level since Q1/2022. Previously, VPBank was the first bank in the system to record profit exceeding the 10,000 billion VND threshold in a quarter, but this result is associated with a specific factor from unusual income related to the bancassurance agreement with AIA. The difference of Q4/2025 lies in the quality of profit, generated from core business activities, reflecting operating capacity and market exploitation.
Contributing to the 5-digit quarterly profit level is the uniform growth in strategic segments, along with the important contribution of the ecosystem, such as the securities segment. For the parent bank, the individual customer segment recorded a strong breakthrough, with momentum from mortgage products, while unsecured products returned positively. The business segment also played a leading role, with credit for small and medium-sized enterprises (SMEs) increasing impressively thanks to promoting regional, industry, and priority sector lending.
With the ecosystem, securities with the contribution of VPBankS become a "new star". In the fourth quarter alone, the only securities company in the VPBank ecosystem recorded more than 1,200 billion VND of pre-tax profit, more than 3 times higher than the same period last year.
Behind VPBank's record numbers
VPBank's profit story in 2025 shows the increasingly close connection between scale and efficiency. Total assets exceeding the 1.26 million billion VND mark, VPBank not only affirms its position as the largest private bank in the system, but also reflects a clear trend: large scale is becoming the foundation for creating sustainable efficiency. From there, the boundaries that once defined roles and influences between banking groups in the system are gradually narrowing, contributing to forming a "flater" competitive landscape.
On that basis, the growth momentum of VPBank in 2025 comes from the synchronous movement in core business pillars. Retail credit increased by 35%, led by a strategy focused on key segments, in which the SME sector recorded a growth rate of 38%.
In parallel with credit growth, VPBank's capital mobilization capacity also recorded new milestones with a consolidated scale of more than 735,000 billion VND, of which the parent bank alone increased by 35.6%.
With those components, VPBank's consolidated pre-tax profit reached more than 30,600 billion VND in 2025, a record high, with the main contribution from the parent bank reaching more than 26,300 billion VND. Profitability indicators such as consolidated ROE reaching nearly 16% and consolidated ROA reaching 2.2% also demonstrate the bank's ability to seize business opportunities effectively.
According to the analysis group from Yuanta Securities, since 2023, VPB's ROE index has shown a clear improvement trend. Previously, capital increase through the sale of 15% of shares to SMBC had put some pressure on this index. "This trend shows that the bank's capital utilization efficiency has improved," the analysis group of Yuanta Securities assessed.
VPBank's strength is also strengthened by a different expanded financial ecosystem. VPBankS, the only securities company in the ecosystem, recorded pre-tax profit of VND 4,476 billion, nearly 4 times higher than in 2024. FE CREDIT maintains a stable recovery with a profit of over VND 600 billion, the second consecutive profit year after the restructuring process.
In the international market, the bank also affirmed its position when successfully arranging long-term syndicated loans with a record scale of 2.36 billion USD from reputable financial institutions such as SMBC, IFC, Standard Chartered Bank and MUFG. At the same time, VPBank is also the first bank in Vietnam to successfully issue 300 million USD of sustainable bonds, marking an important milestone.
With a solid capital foundation, the CAR capital adequacy ratio maintained above 14% - the leading group in the banking system, VPBank is gathering full resources to continue narrowing the gap with state-owned banks and reaching international level.
