VPBank promotes retail, SME and FDI lending, targets credit growth of over 20%


Facing positive macroeconomic prospects in 2024, VPBank plans a business growth scenario of at least 20% and continues to achieve the goal of sustainable growth in the medium-long term.

Favorable factors named by VPBank in a meeting with institutional investors held in early February include the end of the interest rate hike cycle taking place on a large scale in 2023, production and import-export activities. improve as the world economy gradually recovers. And domestically, Vietnam will continue to be the destination for FDI capital flows in the global supply chain, disbursement of public investment continues to be a priority of the government to stimulate economic growth and domestic consumption. The land maintains a positive recovery.

The bank’s business strategy, accordingly, will closely follow the growth drivers of the economy, key customer segments – including individual customers, SMEs and expanding to FDI, coupled with opportunities. expand throughout the VPBank ecosystem.

A growth rate of 20%, according to VPBank’s leaders, will help the bank control asset quality and maintain the growth momentum of previous years. However, actual growth will depend on market conditions and business orientation to ensure operational safety. Official data will be presented by the bank at the General Meeting of Shareholders held in April.

According to this leader, VPBank’s credit growth limit for 2024 is among the highest targets assigned by the State Bank from the beginning of the year. In 2023, the bank’s credit growth will reach 31.8%, much higher than the entire industry’s credit growth.

Outstanding credit debt in the individual customer strategic segment, of which, reached more than 245 trillion VND, an increase of 25% compared to the end of 2022, with the momentum of business loan products and credit cards. Lending in another strategic segment, SME, also recorded an increase of 8% compared to 2022.

Thanks to the strategy of segment coverage and promoting digitalization throughout, the customer scale of the entire VPBank ecosystem, by the end of 2023, has reached more than 30 million people. Particularly in the individual customer segment, VPBank recorded an increase of 4 million customers compared to the end of 2022, thanks to continuously promoting the introduction of comprehensive and personalized financial solutions for each customer profile group. , and focus on attracting customers on digital platforms.

VPBank promotes retail, SME and FDI lending, targeting credit growth of over 20% - Photo 1


After many years of consolidating the retail and SME strategic segments, VPBank officially moves into the FDI customer segment from 2023. The bank identifies this as one of the important business pillars, contributing to promoting growth. sustainable growth in the coming years.

This new move of VPBank is not outside the goal of taking advantage of market opportunities brought by the strong wave of FDI flowing into Vietnam, based on strong financial potential and the strategic cooperation relationship achieved with SMBC. after the private placement of 15% shares last year.

After the capital sale event, VPBank’s total consolidated equity reached nearly 140 trillion VND, ranking 2nd in the system. VPBank, accordingly, has gathered enough financial strength to meet all customer needs in strategic segments and reach very large corporate customers, especially FDI enterprises, multinational corporations.

Meanwhile, as a strategic investor, SMBC has been sharing the know-how and experience that the group has accumulated over the years in many Asian markets. In particular, SMBC’s companion with VPBank has a file of more than 200,000 customers who are multinational corporations and large businesses around the world of SMBC Group and SMBC Bank. These corporations, when investing in Vietnam, will likely become potential customers of VPBank in the future.

A new business pillar – FDI block has been established by the bank in 2023. This block has initially attracted more than 250 FDI business customers with outstanding products Supply chain finance is built to channel capital for both suppliers and distributors in the supply chain, gradually conquering the potential market with existing FDI enterprises and large corporations that are intending to make new investments or pour more capital into the Vietnamese market.

Meanwhile, the strength in retail and SME, along with an ecosystem spanning from consumer finance, securities to insurance, is an advantage that helps VPBank attract more FDI customers looking for added value. increases alongside traditional banking products.

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