Basic bank information
name and background: VPBank was founded in 1993 and is headquartered in Hanoi, Vietnam. As a joint-stock commercial bank, VPBank was listed on the Ho Chi Minh City Stock Exchange (HoSE) in 2017 under the ticker symbol VPB. In 2023, VPBank completed the sale of a 15% stake to Japan's Sumitomo Mitsui Banking Corporation (SMBC), with SMBC becoming its strategic investor.
Scope of services: As of 2023, VPBank has 264 branches and trading offices in Vietnam, covering the whole country. In addition, VPBank has further expanded its market share by providing consumer financial services through its subsidiary, FE Credit.
Regulation & Compliance: VPBank is regulated by the State Bank of Vietnam (SBV) and has joined the Vietnam Deposit Insurance Program to protect the safety of customers' deposits. In 2023, VPBank became the first bank in Vietnam to publish climate-related financial disclosures, demonstrating its commitment to Environmental, Social, and Governance (ESG).
Financial health
capital adequacy ratio: As of June 2022, VPBank's capital adequacy ratio was 14.3%, well above the 8% standard set by the State Bank of Vietnam.
Non-Performing Loan Ratio: VPBank maintains a low non-performing loan ratio through a strong risk management system to ensure stable asset quality.
Liquidity Ratio: VPBank was the first bank in Vietnam to introduce Basel III liquidity risk management, developing a methodology for monitoring liquidity coverage ratio and net stable funding ratio.
Deposit & Loan Products
Deposit Type: VPBank offers a wide range of current and time deposit products with competitive interest rates. In addition, the bank has launched special products such as high-yield savings accounts and large certificates of deposit (CDs) to meet the needs of different customers.
Loans: VPBank offers a variety of loan products such as home loans, car loans, and personal lines of credit, with reasonable interest rates and an efficient approval process. Banks also offer flexible repayment options, making it easier for customers to choose the right repayment plan for their situation.
List of common fees
Account management fee: VPBank There is no account management fee for most account types, and some premium accounts may charge an annual fee.
Transfer fees: Domestic transfers are usually free, and cross-border transfer fees vary depending on the amount and destination country.
Overdraft fee and ATM inter-bank withdrawal fee: Overdraft fee and ATM inter-bank withdrawal fee are charged according to the specific account type and transaction situation, and customers are advised to check the relevant fee standards before use.
Hidden Fee Alert: Some accounts may have a minimum balance and additional fees may be charged if they are not met, so clients should be aware of the account terms.
Digital Service Experience
APP & Online Banking: VPBank's NEO digital banking app has attracted about 5 million registered users, of which about 4.5 million are active users. The app supports features such as facial recognition, real-time transfers, bill management, and investment tool integration, and the user experience is good. Asian Banker
Technology Innovation: VPBank is actively driving digital transformation with the launch of digital banking brands such as YOLO, CAKE and UBank to meet the needs of different customer segments. The bank has also introduced technologies such as artificial intelligence customer service, robo-advisors and open banking APIs to improve service efficiency and customer satisfaction. The Banker
Customer Service Quality
service channels: VPBank offers a variety of service channels such as 24/7 phone support, live chat, and social media response, ensuring that customers can get help at any time.
Complaint handling: The bank has a dedicated customer service team to handle customer complaints and continuously improve service quality to enhance customer satisfaction.
Multi-language support: VPBank provides multi-language services such as English, which is convenient for cross-border customers.
Security measures
security of funds: VPBank joins the Vietnam Deposit Insurance Program, and customer deposits are protected. The bank also employs advanced anti-fraud technologies, such as real-time transaction monitoring, to ensure the safety of funds.
Data Security: VPBank has passed the ISO/IEC 27001:2013 information security management system certification, which ensures the security and privacy of customer data.
Featured Services & Differentiation
market segment: VPBank has launched special services such as student accounts (free of handling fees), exclusive wealth management products for the elderly, and green financial products (such as ESG investment) for different customer groups.
High-net-worth services: The bank provides private banking services to high-net-worth clients, including customized financial solutions and dedicated relationship managers to meet their individual needs.
Market Position & Accolades
Industry ranking: As of December 31, 2024, VPBank's consolidated assets exceeded VND920 trillion (about US$36.8 billion), Become one of the largest joint-stock commercial banks in Vietnam.
Awards: VPBank won the "Vietnam Bank of the Year" award 2022 in recognition of its excellence in risk management and digital transformation.
