TPBank's total assets increased 136 times after 15 years

Compared to the first year of establishment, TPBank now owns the scale of total assets increased 136 times, equity 32 times, operating income 129 times, profit before tax increased nearly 120 times.

Mr. Do Minh Phu, Chairman of Tien Phong Commercial Joint Stock Bank (TPBank) emphasized the above results in his speech at the ceremony to celebrate 15 years of establishment, held in Hanoi on 5/5/2023.

The Chairman of TPBank said that, in the past 15 years, with youthful enthusiasm and determination to break through, TPBank - "Virtual Bank" has achieved brilliant achievements that are very proud, has transformed spectacularly from a "em" bank. The youngest" in the system rose to the top 1 of the leading joint stock commercial banks in the industry.

Compared to the first year of establishment, TPBank today has taken on a new stature, with total assets increased 136 times, equity 32 times, operating income 129 times, profit before tax increased. nearly 120 times, the network and human resources increased by 55 and 20 times respectively.

In particular, TPBank's customer scale has grown rapidly from a few thousand in 2008 to 8.5 million in 2022 and is expected to surpass 10 million customers this year.

15 outstanding milestones on TPBank's 15-year development journey.

Over the past 15 years, the bravery of "Tien Phong" has made many miracles, rose to a solid position in the market, affirmed its name with its own bold imprints. According to Mr. Phu, the historical restructuring in the years 2012-2015 was not only a spectacular "backward turn" of the bank, but also became the most successful example of self-restructuring in the banking system. Vietnam.

TPBank has successfully implemented the restructuring plan associated with bad debt settlement in 2016-2020, increasing the bank's scale by the end of 2022 with total assets of over 328 trillion dong and pre-tax profit exceeding 7,800 billion dong. VND, bad debt was maintained at a low level of less than 1%, credit quality was strictly controlled, financial capacity was significantly improved.

The Bank also maintains comprehensive strength in the governance system, early and fully meets the most stringent international standards to continuously be ranked A by the State Bank of Vietnam and become a "Strong Bank". Vietnam in 2022 according to The Asian Banker's ranking.

In his speech, Mr. Do Minh Phu shared: “TPBank has affirmed its position as the number 1 bank in digital technology in Vietnam. From the network of branches - transaction offices "5 minutes - 5 stars" to the 24/7 LiveBank system and the most comprehensive digital banking ecosystem, TPBank has been bringing individual customers and organizing the optimal and superior financial-banking solutions".

During the development journey, TPBank has always been the leading flag in "digital innovation", creating great turning points that are enthusiastically received by customers and the market, as well as by prestigious agencies and organizations in the world and recognized abroad.

At the age of 15, TPBank is ready for the great opportunity of the digital era, the President of TPBank emphasized, TPBank will continue to create enthusiasm and accompany to inspire the digital life of tens of millions of Vietnamese customers. .

Some planned targets of TPBank in 2023 – (Unit: Billion VND).

Recently, TPBank's financial report for the first quarter of 2023 shows that the total revenue of this bank has reached more than 1,700 billion dong, up 9% over the same period last year. In which, foreign exchange business became a bright spot with revenue of about VND 150 billion thanks to making good use of market opportunities. Total operating income in the quarter reached over VND 3,600 billion, especially net interest income from services reached VND 696 billion, up 36% over the same period in 2022.

At TPBank's General Meeting of Shareholders on April 26, 2023, TPBank approved the business plan for 2023 with a target profit before tax of VND 8,700 billion, an increase of 11%, total assets expected to increase by 7% to VND 8,700 billion. 350,000 billion VND.