Vietnam Prosperity Joint-stock Commercial Bank · HOSE:VPB
Vietnam Prosperity Joint-stock Commercial Bank — Q1 2025 Earnings Presentation
25 slides from Vietnam Prosperity Joint-stock Commercial Bank's earnings presentation, May 2025
Slide 1: 1Q2025 Results Announcement
1Q2025 RESULTS ANNOUNCEMENT May 2025 1
Slide 2: Content
Operating Environment & Business Highlights CONTENT Review of 1Q2025 Results Business Outlook 2
Slide 3: Operating Environment
Operating Environment 3
Slide 4: Vietnam Economy: Strong growth in 1Q25 (+6.93%)
Vietnam Economy: Strong growth in 1Q25 (+6.93%) thanks to the recovery in manufacturing, investment, tourism, and retail GDP growth of some industries (YoY) Average CPI YoY (%) 1Q24 1Q25 9.3% 4.2% 8.0% 3.8% 6.8% 6.8% 7.0% 5.0% 5.2% 3.2% 3.7% 4.3% 3.7% 3.0% 1.7% 1.9% Dịch vụ BĐS Nông, lâm nghiệp Agri
Slide 5: Imbalances persist in the economy and financial system
Imbalances persist in the economy and financial system: the VND keeps depreciating as export growth declines, credit is expanding faster than deposits, while housing prices remain high Thặng Tradedư thương surplus mạiBil, (USD (TỷRHS) USD, cột phải) Grounded estates prices Apartment price USD/VND US
Slide 6: Business Highlights
Business Highlights 6
Slide 7: VPBank's 1Q2025 recap: A solid start
VPBank’s 1Q2025 recap: A solid start, tracking on progress towards the business plan GPBank officially became the member of VPBank group on 17th January 2025 in accordance with the mandatory transfer plan approved by the Government. In addition to the responsibility for revitalizing GPBank’s operati
Slide 8: Review of 1Q2025 Results: Separate
8 Review of 1Q2025 Results Separate Source: Unaudited Separate FS as at 31.03.2025 8
Slide 9: Parent bank 1Q2025 financial snapshot
Parent bank 1Q2025 financial snapshot Unit: VND Bil,% SEPARATE TOI 11,328 9,826 15.3% -7.1% Credit to 663,349 629,371 5.4% customers OPEX 2,843 2,419 17.5% 50.0% LOAN/ DEPOSIT INCOME/COST Provision Deposits & 3,543 2,486 42.5% -30.4% 609,197 532,332 14.4% expense valuable papers PBT 4,942 4,920 0.4%
Slide 10: Growth in Retail segment driven by mortgage lending
Growth in Retail segment was driven by mortgage lending from current pipelines while other core products SEPARATE mostly remained flat Credit to customers (VND Bil, %) Retail product mix (%) +23.1% +5.4% Auto loan YTD 12% Business Secured Mortgage 38% 21% loan QoQ: +6.1% Unsecured 11% QoQ 18% -0.8%
Slide 11: Strong deposit mobilization from Retail shifted funding mix
Strong deposit mobilization from Retail shifted the balance towards a larger share in the total funding mix SEPARATE and eased the pressure on LDR Funding mix (by type) (VND Bil, %) CASA Balance (VND Bil, %) %CASA 1Q25 +25.2% +8.3% +20.5% +13.4% Non-Customer Funding** Customer deposit* 1Q24 2Q24 3Q2
Slide 12: NII hit a quarterly record high; NIM modest contraction
NII hit a quarterly record high, with the stabilization of COF causing only a modest contraction in NIM SEPARATE NII (VND Bil, %) YIELD +22.9% - 0.1% +1.3% 10,104 8.8% 8.7% 9,969 9,029 9,113 FY24 1Q25 8,222 COF + 0.1% 4.3% 4.4% FY24 1Q25 NIM - 0.1% 4.9% 4.8% 1Q24 2Q24 3Q24 4Q24 1Q25 FY24 1Q25 12
Slide 13: Non-NII continued to face hurdles
Non-NII continued to face hurdles, despite the silver lining provided by bad debt recoveries SEPARATE Non-NII components (VND Bil, %) Banking service activities -Gross Fee Income- (VND Bil, %) -23.7% -25.8% 1,604 2,347 360 % Y-o-Y Other Non NII* 1 +68.4% 328 % 1Q25 vs 1Q24 Net gain from +83.8% finan
Slide 14: Review of 1Q2025 Results: Consolidated
14 Review of 1Q2025 Results Consolidated Source: Unaudited Consolidated FS as at 31.03.2025 14
Slide 15: Consolidated bank financial snapshot /1
Consolidated bank financial snapshot /1 CONSOLIDATED Unit: VND Bil, % YTD YTD VND Bil. VND Bil. 6.4% 6.3% 6.1% 6.1% 5.9% 4.9% 4.3% 4.3% 4.5% 4.5% 11.2% 11.4% 11.8% 11.1% 12.1% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Bank Subsidiaries NIM Customer Deposits COF *Customer Deposits include dep
Slide 16: Consolidated bank financial snapshot /2
Consolidated bank financial snapshot /2 CONSOLIDATED Unit: VND Bil, % 856 17 15,566 6,677 1,169 169 13,356 3,874 5,015 NII NFI Net gain from Income from bad Others TOI Provision OPEX PBT financial assets debt recorvery expense %Y-o-Y 17.9% -24.8% -45.4% 129.4% 111.5% 16.1% 15.9% 11.8% 19.9% 16
Slide 17: Business Outlook
Business Outlook 17
Slide 18: Interest rates and VND depreciation outlook
If interest rates continue to be kept low to support growth, in case the Fed and other central banks have no plans to cut interest rates deeply, VND might continue to depreciate, while VND deposit interest rates are under upward pressure Expectations of Central Bank Rate Cuts VND depreciation agains
Slide 19: International trade: Global growth to slow only slightly
International trade: Global growth to slow only slightly as US unlikely to impose high tariffs 2024 export Proportion No. Item value in GDP Tariff risk Details (USD bil) (Estimated) Currently not subject to tariffs, and the US government may impose a 1 Computer, electronic and optical products 35.2
Slide 20: Business Outlook 2025
Business Outlook 2025 • Expand customer base, • Lean the organization and credit, deposits, and revenue streamline operation to across all key segments. enhance business efficiency. • Deepen segmentation • Leverage technology and AI strategy with the launch of to solidify VPBank’s position Private B
Slide 21: Business plan in 2025
Business plan in 2025 Unit: VND Bil;% Total assets 1,132,800 Credit to customers 887,724 Deposits and valuable papers 742,311 PBT 25,270 Indicators 2025 2024 YoY growth (%) Total assets 1,132,800 923,848 23% Deposits and valuable papers 742,311 552,642 34% Total credit to customers 887,724 709,986 2
Slide 22: Appendix
Appendix 22
Slide 23: Definition of Indicators
Definition of Indicators 1. Cost to income ratio (CIR) OPEX / TOI 2. ROE (Consolidated) Profit after tax / Average Total Equity 3. ROA (Consolidated) Profit after tax / Average Total Assets 4. ROE (Bank Standalone) Profit after tax exclude income from subsidiaries / Average Total Equity exclude inve
Slide 24: Glossary
Glossary CAR Capital Adequacy Ratio NII Net Interest Income CASA Current Account Savings Account NIM Net Interest Margin CD Certificate of deposits NPL Non-Performing Loan CIR Cost-to-Income Ratio OMO Open Market Operations COF Cost of fund OPEX Operating expense CPI Consumer Price Index PBT Profit
Slide 25: Disclaimer
Disclaimer This document has been prepared by Vietnam Prosperity Joint Stock Commercial Bank (“VPBank”) and is intended solely for informational purposes. It provides general background information regarding VPBank’s operations as of the date of this presentation. The information contained herein is
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