VersaBank (VBNK) - Net Assets

Latest as of January 2026: CA$543.08 Million CAD ≈ $392.85 Million USD

Based on the latest financial reports, VersaBank (VBNK) has net assets worth CA$543.08 Million CAD (≈ $392.85 Million USD) as of January 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$6.15 Billion ≈ $4.45 Billion USD) and total liabilities (CA$5.60 Billion ≈ $4.05 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Explore cash efficiency ratio of VersaBank to assess how effectively this company generates cash.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$543.08 Million
% of Total Assets	8.84%
Annual Growth Rate	12.75%
5-Year Change	60.39%
10-Year Change	186.56%
Growth Volatility	12.08

VersaBank - Net Assets Trend (2010–2025)

This chart illustrates how VersaBank's net assets have evolved over time, based on quarterly financial data. For live valuation and market cap data, see VBNK stock market capitalisation.

Annual Net Assets for VersaBank (2010–2025)

The table below shows the annual net assets of VersaBank from 2010 to 2025. Read VBNK liabilities breakdown for a breakdown of total debt and financial obligations.

Year	Net Assets	Change
2025-10-31	CA$532.67 Million ≈ $385.33 Million	+33.43%
2024-10-31	CA$399.20 Million ≈ $288.78 Million	+5.85%
2023-10-31	CA$377.16 Million ≈ $272.83 Million	+7.55%
2022-10-31	CA$350.68 Million ≈ $253.67 Million	+5.59%
2021-10-31	CA$332.11 Million ≈ $240.24 Million	+30.09%
2020-10-31	CA$255.29 Million ≈ $184.67 Million	+6.30%
2019-10-31	CA$240.16 Million ≈ $173.73 Million	+7.42%
2018-10-31	CA$223.57 Million ≈ $161.72 Million	+7.21%
2017-10-31	CA$208.54 Million ≈ $150.86 Million	+12.19%
2016-10-31	CA$185.88 Million ≈ $134.47 Million	+6.45%
2015-10-31	CA$174.62 Million ≈ $126.32 Million	+14.49%
2014-10-31	CA$152.52 Million ≈ $110.33 Million	+14.56%
2013-10-31	CA$133.13 Million ≈ $96.31 Million	+42.99%
2012-10-31	CA$93.10 Million ≈ $67.35 Million	-3.60%
2011-10-31	CA$96.58 Million ≈ $69.86 Million	+9.63%
2010-10-31	CA$88.09 Million ≈ $63.72 Million	--

Equity Component Analysis

This analysis shows how different components contribute to VersaBank's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 20462500000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (October 2025)

Component	Amount	Percentage
Retained Earnings	CA$203.73 Million	38.25%
Common Stock	CA$325.91 Million	61.18%
Other Comprehensive Income	CA$562.00K	0.11%
Other Components	CA$2.47 Million	0.46%
Total Equity	CA$532.67 Million	100.00%

VersaBank Competitors by Market Cap

The table below lists competitors of VersaBank ranked by their market capitalization.

Company	Market Cap
Qingdao Citymedia Co Ltd SHG:600229	$580.09 Million
Mutares SE & Co. KGaA XETRA:MUX	$580.28 Million
Sun International Ltd JSE:SUI	$580.33 Million
Inner Mongolia North Hauler Joint Stock Co Ltd SHG:600262	$580.37 Million
Haier Smart Home Co Ltd F:690D	$579.82 Million
Jensen-Group NV BR:JEN	$579.77 Million
Taier Heavy Industry Co Ltd SHE:002347	$579.75 Million
Tivoli A/S CO:TIV	$579.58 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in VersaBank's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 399,203,000 to 532,673,000, a change of 133,470,000 (33.4%).
Net income of 28,458,000 contributed positively to equity growth.
Dividend payments of 3,235,000 reduced retained earnings.
Share repurchases of 9,127,000 reduced equity.
New share issuances of 114,772,000 increased equity.
Other comprehensive income increased equity by 692,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$28.46 Million	+5.34%
Dividends Paid	CA$3.23 Million	-0.61%
Share Repurchases	CA$9.13 Million	-1.71%
Share Issuances	CA$114.77 Million	+21.55%
Other Comprehensive Income	CA$692.00K	+0.13%
Other Changes	CA$1.91 Million	+0.36%
Total Change	CA$-	33.43%

Book Value vs Market Value Analysis

This analysis compares VersaBank's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.48x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 5.45x to 1.48x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2010-10-31	CA$4.59	CA$25.00	x
2011-10-31	CA$6.10	CA$25.00	x
2012-10-31	CA$5.88	CA$25.00	x
2013-10-31	CA$8.03	CA$25.00	x
2014-10-31	CA$7.85	CA$25.00	x
2015-10-31	CA$8.98	CA$25.00	x
2016-10-31	CA$9.36	CA$25.00	x
2017-10-31	CA$10.00	CA$25.00	x
2018-10-31	CA$10.58	CA$25.00	x
2019-10-31	CA$11.37	CA$25.00	x
2020-10-31	CA$12.09	CA$25.00	x
2021-10-31	CA$15.27	CA$25.00	x
2022-10-31	CA$12.79	CA$25.00	x
2023-10-31	CA$14.35	CA$25.00	x
2024-10-31	CA$15.37	CA$25.00	x
2025-10-31	CA$16.91	CA$25.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently VersaBank utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 5.34%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 9.36%
• Asset Turnover: 0.05x
• Equity Multiplier: 10.90x
Recent ROE (5.34%) is below the historical average (6.24%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2010	0.53%	0.87%	0.04x	14.94x	CA$-8.34 Million
2011	7.84%	25.90%	0.02x	15.38x	CA$-2.09 Million
2012	4.11%	11.62%	0.02x	16.48x	CA$-5.49 Million
2013	1.32%	2.79%	0.05x	10.55x	CA$-11.55 Million
2014	3.72%	9.34%	0.04x	9.48x	CA$-9.58 Million
2015	4.71%	12.48%	0.04x	9.31x	CA$-9.24 Million
2016	4.56%	11.94%	0.04x	9.17x	CA$-10.12 Million
2017	9.34%	27.19%	0.04x	8.27x	CA$-1.38 Million
2018	8.08%	22.29%	0.04x	8.09x	CA$-4.28 Million
2019	8.41%	22.87%	0.05x	7.43x	CA$-3.82 Million
2020	7.60%	22.52%	0.04x	7.61x	CA$-6.12 Million
2021	6.74%	23.64%	0.04x	7.27x	CA$-10.83 Million
2022	6.46%	17.09%	0.04x	9.31x	CA$-12.41 Million
2023	11.18%	17.72%	0.06x	11.14x	CA$4.45 Million
2024	9.96%	13.50%	0.06x	12.12x	CA$-172.30K
2025	5.34%	9.36%	0.05x	10.90x	CA$-24.81 Million

Industry Comparison

This section compares VersaBank's net assets metrics with peer companies in the Banks - Regional industry.

Industry Context

Industry: Banks - Regional
Average net assets among peers: $905,663,500
Average return on equity (ROE) among peers: 11.57%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
VersaBank (VBNK)	CA$543.08 Million	0.53%	10.32x	$579.96 Million
EQB Inc. (EQB)	$1.28 Billion	12.94%	18.56x	$3.28 Billion
Laurentian Bank Of Canada (LB)	$531.30 Million	10.20%	22.47x	$1.30 Billion

About VersaBank

TO:VBNK Canada Banks - Regional

Market Cap

$579.96 Million

CA$801.74 Million CAD

Market Cap Rank

#11740 Global

#336 in Canada

Share Price

CA$25.00

Change (1 day)

+2.29%

52-Week Range

CA$13.94 - CA$25.00

All Time High

CA$25.42