In the first phase, the adoption of IFRS would be encouraged. It could be adopted by certain subjected companies which were capable of making financial reports following international accounting rules or selected by the Ministry of Finance for pilot implementation. The subjected businesses wishing to apply IFRS notify the Ministry of Finance before voluntarily applying IFRS. They include the parent companies of a large State-owned corporation, parent companies which are listed on the stock market, large-scale public companies which are unlisted parent companies.

Meanwhile, the digitalisation strategy of the bank's services has also contributed to raising VPBank's brand name to a new level, attracting more and more customers to the bank. The establishment and improvement of digital banking applications and online lending platforms such as VPBank Online, SME Connect, and YOLO, continuously support VPBank to be voted as the go-to digital bank in the Vietnamese market by domestic and international organisations.

Samir Dixit, CEO of Asia-Pacific Brand Finance, said that in the era of technology revolution, 4.0 is developing very strongly and brand power plays an important role in the growth of an enterprise. A strong brand will help attract more new customers and build the loyalty of old customers, thereby creating better sales and profit results.

BizPay is also compatible with contemporary state-of-the-art enterprise management software, helping to save time and ensure data synchronisation in financial and liabilities management.

Thus, owning the strongest private bank brand while being one of the four strongest banking brands in the Vietnamese market will give VPBank a significant competitive advantage and help maintain its sustainable growth momentum in the future.