TPBank starts 2025 impressively: Profit in the first 2 months of the year reaches nearly 1,430 billion VND

Tien Phong Commercial Joint Stock Bank (TPBank, MCK: TPB) has just updated its business results in the first two months of 2025 with pre-tax profit reaching nearly VND 1,430 billion. According to forecasts, TPBank will continue to maintain strong growth momentum with expected profit reaching VND 2,100 billion by the end of the first quarter of 2025, equivalent to a growth rate of 14.8% over the same period last year. This growth momentum comes from expanding business operations, optimizing financial efficiency and effectively controlling costs.

TPBank's total operating income continued to grow impressively, reaching over VND2,800 billion in the first two months of the year and is expected to reach VND4,300 billion by the end of the first quarter. This reflects not only the expansion of scale but also TPBank's outstanding ability to optimize revenue sources.

Outstanding customer loans also recorded significant growth, reaching VND263,920 billion and is forecast to reach about VND269,000 billion by the end of the first quarter. The strong recovery of credit demand, combined with the strategy of focusing on key industries, helped TPBank consolidate its position in the retail banking sector.

With a CASA ratio maintained at over 20%, TPBank continues to ensure low-cost capital mobilization, contributing to improving operational efficiency and stable profitability. At the same time, the capital adequacy ratio (CAR) remains above 13%, affirming financial stability and tight risk control.

Strong growth prospects in 2025

In a newly published report, analysts from MBS Securities Company assessed that TPBank is possessing a great advantage thanks to its leading position in the digital banking sector, helping to expand access to young customers and increase credit growth.

In 2025, TPBank's credit growth is forecast to reach 16% thanks to its focus on the middle-income customer segment, millennials and business households with two key products: auto loans and home mortgage loans.

Meanwhile, the bank's credit growth could remain at 17% in 2026, while TPBank will boost its retail lending segment thanks to rising consumer demand and recovering personal income.

The bank's NIM is expected to improve by 3 basis points this year to 3.54%, thanks to higher net interest margins due to the ability to pass on interest costs to customers amid strong recovery in retail credit demand.

In terms of asset quality, by the end of Q4/2024, TPBank's non-performing loan (NPL) ratio improved by 80 basis points quarter-on-quarter and 53 basis points year-on-year, reaching 1.52%. This is the lowest level since Q1/2023 and lower than the industry average (1.91%).

Experts expect asset quality to continue to improve in 2025 thanks to a warming economy and a recovery in production and business activities. Meanwhile, the ratio of group 2 debt to total outstanding debt has continuously decreased for 6 quarters (-26 basis points compared to the previous quarter), helping to reduce the pressure on increasing bad debt in 2025. At the same time, TPBank will continue to strengthen its balance sheet through debt write-offs and provisions in 2025.

With all the above motivations, MBS experts forecast that TPBank can achieve pre-tax profit of VND 9,116 billion for the whole year of 2025, a 20% growth compared to the results achieved in 2024.

TPBank has also just announced its audited financial report for 2024. Accordingly, TPBank's pre-tax profit reached VND 7,600 billion. Consolidated after-tax profit in 2024 reached more than VND 6,070 billion, equivalent to an increase of 36% compared to 2023. Of which, net interest income and income from service activities still contribute the most to the bank's total profit.

In particular, in 2024, TPBank's profit structure will shift as it reduces its dependence on credit activities and shifts to a multi-service business model. Accordingly, the bank's total operating income in 2024 will reach more than VND 18,030 billion, an increase of 11% over the same period in 2023. Of which, net income from services will grow by more than 47%, reaching more than VND 3,360 billion, reflecting the success of the strategy of developing digital services and increasing payment convenience for customers.

TPBank has promoted the development of digital services, from lending, insurance to payment, attracting a large number of users, contributing greatly to fee revenue. In addition, income from trading investment securities also increased by nearly 28% compared to the previous year.

On April 24, TPBank will hold its 2025 Annual General Meeting of Shareholders in Hanoi. The meeting will focus on discussing 2024 business results, 2025 growth plans, and important strategic issues to maintain the bank's strong growth momentum.

With its achievements and positive growth prospects, TPBank is affirming its solid position in the banking industry, ready to make a strong breakthrough in the coming time.

Ha An

Source: https://vtcnews.vn/tpbank-khoi-dau-2025-an-tuong-loi-nhuan-2-thang-dau-nam-dat-gan-1-430-ty-dong-ar934814.html