15 years of miraculous breakthrough at TPBank

After 15 years of miraculous breakthroughs, TPBank continues its pioneering journey to new heights, affirming its leading digitization position.

From the "youngest" bank, one of the smallest and youngest in the system, which had to be restructured, TPBank now has a different position, is in the top of the list in terms of business performance and continuously grows strongly. to aim for the No. 1 bank in digital technology in Vietnam.

After 10 years, the owners who are "foreigners" from FMCG have succeeded in restructuring a weak bank, making TPBank a bright star in terms of profit growth, total assets and a successful example of digital banking.

Vietnam's banking industry has undergone more than 70 years of establishment and development, up to now, the system has more than 30 commercial banks. Experiencing many ups and downs, the position of banks in the market is strongly differentiated. There are many brands that have existed for a long time but are not necessarily leading in terms of business performance, but are even increasingly lost in the rankings. Meanwhile, there are young banks, but thanks to their different business strategies, they have risen to the top, affirming their position in the market.

TPBank - one of the "youngest" banks in the system is a typical case for a "small but powerful" bank. Looking at TPBank's current position, few people remember that the bank went through a very difficult period when it fell into nine weak credit institutions in 2011. While most banks chose to merge, contract At most, Tienphongbank (the name of TPBank at that time) conducted its own restructuring and became a typical case for the most successful self-restructuring in the Vietnamese banking system so far to not only skin and flesh" back, but also have a firm "position" in the market. On May 5, 2023, this bank officially celebrated its 15th anniversary with great success.

TPBank currently has the 15th largest credit balance in the system. In 2022, pre-tax profit reached more than VND 7,800 billion, an increase of 120 times compared to the first year of establishment. In recent years, TPBank has continuously been in the Top 10 most profitable private banks.

15 years of pioneering the digital journey, 10 years after the restructuring, TPBank of today has affirmed its position as the leading bank in terms of technical infrastructure and technological human resources as well as owning a digital ecosystem. comprehensive in all customer communication channels. Referring to the digital transformation of the banking industry, it is TPBank. This recognition is like an immutable statement in the banking and technology world, as evidenced by numerous awards and ratings at home and abroad as well as through TPBank's more impressive indicators after its re-introduction. structure.

Thanks to pioneering digitization, TPBank's number of customers has grown at a rapid pace, especially in 2022, attracting 3.7 million more customers, bringing the total number of individual customers to 8.5 million. While before that, it took the bank 11 years to get the first 3 million customers. In addition, another indicator showing the effectiveness of LiveBank and the digital banking App is the increasing rate of regular customers, increasing 4.5 times in the past 5 years. Taking a shortcut to take advantage of technology 7 years ago is a major turning point that contributes to TPBank's success today.

No matter how dreamy, it is hard to imagine this success of TPBank after 15 years of transformation. From a "small guy" who always carries a "big dream" about digital banking, TPBank is becoming a "big boy" of the banking system. But in fact, TPBank's only way is to promote digitalisation, to serve millions of customers when the number of branches is only moderate. Without moving to lead by digital banking, always thinking and implementing, TPBank will not be able to reach the level and be trusted by customers as much as it is now. It is also the basis for TPBank to invest heavily and deploy breakthrough digital banking solutions that are "tailored" to each customer's financial needs and habits. Not afraid to compete, not afraid to be copied, TPBank always has a constantly innovative approach to serve customers in every communication channel.

At the current stage of digital innovation, TPBank's focus on digitizing internal processes, setting up smart bots applying AI & API, ChatGPT, minimizing manual work, taking advantage of the latest technology is still not enough. maximize the capacity of human resources, especially IT personnel. The increase in automation and digitization level, as well as building a strong digital capacity system not only helps TPBank increase its high efficiency in serving customers, but also creates sustainable development as well as communication. Inspiring sustainable transformation for the community.

TPBank also participates in many major domestic and foreign rankings with very high rankings. For example, thanks to its leadership in many criteria such as capital adequacy ratio, profitability, asset quality, liquidity, etc., TPBank ranked in the Top 1 of Vietnamese banks in the list of the strongest banks in Asia. – Pacific Ocean announced by The Asian Banker in 2022. In addition, from 2018 to now, TPBank has been continuously ranked A by the State Bank of Vietnam, the highest ranking based on Circular 52/2018/TT- The State Bank stipulates the ranking of credit institutions and foreign bank branches. This shows the comprehensive strength of TPBank's governance system.

In the message of TPBank's chairman on the 15th anniversary, Mr. Do Minh Phu said: At the age of 15, TPBank is ready for the great opportunity of the digital era, with the new term of the Board of Directors just approved by the University. Vote by the 2023 Annual General Meeting of Shareholders and the Third Strategy Cycle 2023-2028, We will continue to be an enthusiastic creator and companion to inspire the digital lives of tens of millions of Vietnamese customers. . TPBank will continue to rise on the path of becoming a strong private financial group, raising its position in the country and reaching out to the region. TPBank will always carry the spirit of the Pioneers who turn the waves and beat the wind, cross thousands of oceans and waves, and have strong hands to continue reaching out strongly, marking their name in the top class."

Therefore, in the upcoming journey, TPBank can be completely confident with its experience and capabilities, will continue to create success to pioneer to lead, maintain a different position, constantly change to improve the quality of life. ahead of new developments in the economy. In particular, digital transformation and customer focus is still identified by the bank as a long-term strategy to continue to provide new financial solutions, outperforming the market.