VPBank shares (VPB) recently surged to 21,000 VND/share, the highest level in 38 months, thanks to strong foreign capital inflow. Since mid-July, foreign investors have net bought nearly 800 billion VND of this stock. VPB is currently only 12% below its historical peak at the end of 2021. Besides interest from foreign investors, VPBank’s profit forecasts are also promising: Q2 2025 could see a 12% increase and 25% increase for the entire year compared to last year. The growth is attributed to the stable development of FE Credit and its subsidiaries. Additionally, net profit after tax for Q2 is projected to rise by 16% year-on-year. However, the bank’s NIM is expected to decrease due to increasing interest rate competition. Operating costs are expected to rise by 15%, and provisions for credit risk are expected to increase significantly amid a rising bad debt situation.
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