A Company Linked to Vingroup Loans 85% of Its Assets at High Interest Rates; Stock Price Doubles in Just One Week

Vietnam Book Joint Stock Company (VNB) recently announced its Q2 2025 financial results, revealing revenue of nearly 7.5 billion VND, with a gross profit of over 3.3 billion, a 3% increase compared to the previous quarter. Revenue from financial operations grew by 24%, resulting in a pre-tax profit (LNTT) of nearly 27 billion VND, up 28%. In the first half of the year, total revenue and net profit hit 14 billion and 42 billion VND, marking increases of 5% and 20% year-on-year. VNB’s total assets reached 1.169 trillion VND, with 85% made up of long-term loans at a 12% annual interest rate. The company has no financial debt, and Vingroup owns 65.34% of its shares. On the market, VNB’s stock has surged, reaching 20,800 VND/share—a 54% increase in just a week, valuing the company at approximately 1.412 trillion VND.