Non-performing loans at TPBank decreased by over VND 1,000 billion in the fourth quarter of 2023

TPBank’s total operating income in Q4 reached VND 4,443 billion, up 21.3% compared to the same period. The primary growth driver came from core operations with net interest income increasing by up to 43.8% compared to the same period and reaching VND 3,996 billion.

Recently, TPBank announced its financial report for Q4/2023. The bank’s pre-tax profit in Q4/2023 was at VND 630 billion, a 67% decrease compared to the same period in 2022. The main reason was due to a surge in provisions for credit losses from VND 115 billion (Q4/2022) to VND 1,970 billion (Q4/2023), an increase of 17 times.

TPBank’s total operating income in Q4 reached VND 4.443 trillion, up 21.3% compared to the same period. The primary growth driver came from core activities, with net interest income increasing by up to 43.8% compared to the same period and reaching VND 3.996 trillion. Foreign exchange trading also saw a strong profit increase of 325%, reaching VND 324 billion. Meanwhile, poor service activities (mainly due to a decrease in revenue from payment activities) only earned VND 114 billion in Q4/2023, while in the same period in 2022, there was a profit of up to VND 816 billion.

Overall for the year, TPBank’s total operating income reached VND 16.233 trillion, a 3.9% increase compared to 2022. Operating expenses increased by 12.7% to VND 6.698 trillion. Provisions for credit losses increased by 114% to VND 3.946 trillion. Pre-tax profit for the year was at VND 5.588 trillion, a 28.6% decrease compared to 2022.

As of December 31, 2023, TPBank’s total assets reached VND 356.637 trillion, an 8.5% increase from the beginning of the year. Customer loans increased by 27.5% in 2023, reaching VND 205.262 trillion. In the last quarter of the year alone, TPBank’s customer loans increased dramatically by 14%.

The bank’s non-performing loans at the end of 2023 were VND 4,200 billion, a sharp decrease of over VND 1,100 billion in Q4. The NPL ratio/customer loan outstanding balance ratio increased from 0.84% (end of 2022) to 2.05% (end of 2023).

Customer deposits at TPBank increased by 6.8% in the past year to VND 208.262 trillion. Of which, time deposits increased significantly by 35% to over VND 44,000 billion. The CASA ratio (time deposits) improved from 16.7% to 21.1%.