PGBank reports notable Q1 business results

PGBank reports notable Q1 business results

As of March 31, 2025, PGBank’s total assets reached VNĐ74.9 trillion, up 25 per cent year-on-year.

Human resources is one of the development investment priorities of PGBank. — Photo courtesy of the bank

Petrolimex Group Commercial Joint Stock Bank (PGBank) saw a strong turnaround, with notable gains in both interest and non-interest income in the first quarter compared to the same period last year.

As of March 31, 2025, PGBank’s total assets reached nearly VNĐ74.9 trillion, up 25 per cent year-on-year (from VNĐ58.8 trillion) and 2.5 per cent higher than at the end of 2024 (VNĐ73 trillion).

Customer deposits from from residents and organisations grew steadily to VNĐ46.7 trillion, up 25 per cent year-on-year.

Total outstanding credit reached over VNĐ45.3 trillion, up 29 per cent compared to the same period last year, reflecting the bank’s flexible credit management in alignment with the State Bank of Vietnam’s policy direction.

Net profit from business activities before credit risk provisions reached VNĐ242.5 billion, a sharp increase of 53.4 per cent year-on-year.

Pre-tax profit for the first quarter reached nearly VNĐ96 billion, completing 13.4 per cent of the bank’s provisional full-year target. The non-performing loan (NPL) ratio was kept under control at 2.09 per cent, remaining within the safe threshold.

In terms of income structure, net interest income rose by 21.4 per cent year-on-year, equivalent to an increase of VNĐ80.7 billion, reaching VNĐ458.3 billion, the highest level in recent years.

This success came from PGBank’s focus on strengthening internal capacity, investing in human resources, and consistently pushing digital transformation to boost efficiency, cut costs and build solid momentum for the bank’s growth. 

Bizhub