TPBank's profit is nearly 5,000 billion VND after 3 quarters

After 9 months, with the milestone of 10 million customers using the service and the number continuing to increase, the bank recorded a highlight in its business results with service income 15% higher than the same period, reaching 2,165 billion VND. This result comes from the trust of tens of millions of customers in TPBank's diverse products and services. In 2023 alone, TPBank will have more than 1.5 million new customers who trust and place their trust in the service.

Always accompanying customers, TPBank has continuously updated preferential interest rate policies and reduced fees to support businesses and individuals to overcome difficult times. The bank committed to reducing loan interest rates by an estimated VND 1,400 billion, along with VND 76 billion in fees for customers this year. This has affected TPBank's profits, recorded at nearly VND 5,000 billion after 9 months.

With practical policies for the market and society, customers always trust and support TPBank, which is reflected in the growth of deposits, along with a significantly improved CASA ratio. Meanwhile, customer loan growth is nearly 12% and bad debt is controlled within the allowable threshold, despite being affected by difficulties in the consumer finance segment.

TPBank's profit is nearly 5,000 billion VND after 3 quarters - 1

At the end of the 9 months, TPBank's total assets increased by 5% compared to the end of the previous year, reaching over VND 344,400 billion. In early 2023, TPBank also increased its charter capital to over VND 22,000 billion through dividend payment in bonus shares at a rate of 39.19%.

Always putting prestige and proactively controlling risks, TPBank maintains a capital adequacy ratio (CAR) according to Basel III standards of about 11%, among the highest in the industry, upholding the principles of loan growth and capital safety. Recently, Purple Bank continued to maintain its position as the bank with the leading financial health in Vietnam, according to the Asian Banker ranking.

The Bank always controls the bad debt ratio within the safe range as required by the State Bank, has the best management plans for asset quality, maintains and strengthens the comprehensive strength of the management system, and promptly and fully meets the most stringent international standards.

Previously, TPBank continuously received a series of prestigious awards such as: Top 5 most valuable private banking brands with a valuation of 424.88 million USD, strength index reaching 69.37; Top 15 Largecap Listed Enterprises meeting Information Disclosure Standards on the stock market in 2023 within the framework of the IR Awards 2023.

Top 10 Most Prestigious Commercial Banks in Vietnam 2023; Top 20 enterprises/banks with the best sustainable development index in the stock market (VNSI - Vietnam Sustainability Index) for the period from July 2023 to July 2024 announced by the Ho Chi Minh City Stock Exchange (HSX)...

Confident in TPBank's financial health and position in the Vietnamese market, the US International Development Finance Corporation (DFC) signed a commitment to provide a loan worth 100 million USD to TPBank with a term of 7 years.

The credit will be directed by TPBank to individual customers, micro-enterprises, small and medium-sized enterprises in Vietnam, including low-income female customers and women-owned and led enterprises in Vietnam. This will also strengthen TPBank's financial resources to continue supporting and accompanying customers.

Bao Anh

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