TPBank conquers the Better Choice Award 2023 with a digital revolution for humanity, for sustainable development

TPBank was honored in the Innovative Choice Awards category, which is a convincing demonstration of its commitment to innovation and creating value for the community and society through digital transformation and initiatives advanced.

Innovative Choice Awards 2023: Sustainable Brands Thanks to Innovation

The Innovative Choice Awards category in the Better Choice Awards is a tribute to brands and products that have left a deep impression in the hearts of Vietnamese consumers over the past 10 years, as well as new names. has created a strong impression thanks to its success in applying Innovation.

This is an opportunity for these brands to be recognized and honored for their significant contribution to industry and society.

This category honors consumer brands that have built sustainable values and left a positive mark in the minds of Vietnamese consumers.

These brands have continuously applied Innovation to develop, build and upgrade products, even combining digital transformation and using technology to bring practical benefits to Vietnamese consumers. South and maintain their position in the market.

Brands nominated in this category include TPBank, HDBank, ACB, Vietcombank, Techcombank, VPBank, Vinamilk, TH true MILK, Viettel, Biti's shoes, VNPT, MoMo e-wallet and many other brands. All of these brands have greatly contributed to the sustainable development of Vietnam's economy and society through innovation and application of advanced technology.

A clear example of success in innovation is TPBank, one of the brands being nominated in the BCA 2023 Sustainable Brand nomination category. Accordingly, TPBank has continuously in the list of Top 10 Most Prestigious Commercial Banks in Vietnam and especially in the Top 4 Most Prestigious Private Commercial Banks for 5 consecutive years. This shows TPBank's commitment to reputable quality in the industry and smart digital banking in Vietnam.

TPBank - Symbol of digital transformation in Vietnam

In the context of a world that is strongly transforming towards digitalization and sustainability, TPBank has seized the opportunity and become a symbol of innovation and digital transformation in Vietnam.

After more than a decade of restructuring in 2012 and receiving trust from shareholders, partners and customers, TPBank has made a leap in business operations and the development of the bank, establishing a solid position. in the group of leading financial institutions in Vietnam in terms of reputation and operational efficiency.

During 15 years of development, TPBank has created products that have become symbols and milestones of digital transformation in society. The most prominent is LiveBank - an automatic bank that does not sleep 24/7, integrating biometric authentication to help customers open accounts, open cards, receive cards, withdraw/deposit money without having to go to a transaction office, Serve customers at all times. Or on digital platforms, TPBank takes the lead in creating outstanding features on applications such as ChatPay - money transfer like texting, VoicePay - hands-free money transfer... as a revolution in the form of transactions on the application and a series of Other features for business customers on the TPBank Biz platform - digital documents, super-fast guarantees... Thanks to understanding user needs and providing outstanding and trendy features, TPBank has surpassed the 10 million mark. customers after 6 months of 2023. 80% new customers and has the largest wallet connection service coverage rate with 12 e-wallets.

Recently, TPBank was also honored for the second consecutive year as the strongest bank in Vietnam, and was near the top 20 Asian banks announced by The Asia Banker. On the recorded scoreboard, TPBank's component scores on debt structure, deposit structure, ratio of credit balance to total deposits, CAR coefficient... are scored superiorly compared to other banks. other. As a result, TPBank achieved 6.05 points.

Representative of The Asian Banker highly appreciated TPBank's efforts in proactively implementing Basel III regulations. In 2022, despite having previously met Basel III standards, TPBank will continue to increase risk management capacity with advanced methods according to Basel III.

"In 2022, TPBank maintains a strong liquidity position, with liquid assets accounting for 49% of total deposits and loans, exceeding the average of 27.8% of all Vietnamese banks in the ranking. Bank The company has achieved high profitability, with net profit increasing by 30%. Return on assets (ROA) reached 2%, while return on equity (ROE) was 22%. In addition, the Bad debt is at a low level of 0.8% in 2022, far exceeding the industry average of 1.5%.", representative of The Asian Banker further shared.

Last year, the bank recorded a profit of nearly 8,000 billion VND, setting a record with a chain of 10 consecutive years of growth. Not only concerned with the financial foundation, TPBank also aims for a future of sustainable development. The proof is that TPBank has implemented a comprehensive ESG Project with 3 main components including building a Sustainable Development Report, building an ESG Governance Framework and building a Green Credit Framework and Strategy. TPBank's implementation of the ESG Project is a step ahead of trends in the world in general and Vietnam in particular when environmental and social issues are increasingly of concern.

Mr. Nguyen Hung, General Director of TPBank hopes that with experience in implementing ESG in Vietnam and a deep understanding of TPBank, KPMG will accompany the bank to successfully implement its goals in the near future.

“We are confident that the TPBank team can receive technical and technology transfer to implement good governance according to international ESG standards, ensuring green, healthy, sustainable and responsible development. with the community, society and the environment," Mr. Hung shared.

Technology and digital services have played an extremely important role in attracting and maintaining customers at TPBank. The bank's commitment to innovation and creativity in this field has helped them build a modern and convenient service system for customers.

TPBank's application of advanced technologies such as fingerprint, face scanning, voice money transfer and facial recognition has brought a reliable and fast transaction experience to customers. Eliminating traditional paperwork and signatures has also helped reduce troublesome procedures and increase convenience in transactions.

Recently, in an effort to eliminate paperwork, TPBank launched a digital assistant at the eCM counter, helping customers transact without papers and signatures to ensure safety, using the most advanced and advanced method.

TPBank: Mission to promote the digital revolution for humanity and contribute to Vietnam's sustainable development

With a thorough customer-centric orientation, applying technology as a lever for development, creating digital solutions to serve people, creating a better and more convenient society, TPBank is continuing to on the journey of digitalization and technology development in digital banking services.

The bank hopes to serve millions more customers, bring the modern, trendy and convenient digital experience of digital banking services to the whole society and promote the popularization of digital payment solutions.

Meeting customer needs becomes the guiding principle in every activity of TPBank and of every TPBank person. “We choose to dive into customers' needs to find solutions through digitalization,” shared Mr. Nguyen Hung, General Director of TPBank.

To coordinate and combine with partners to promote digital transformation, TPBank also participates in the Open Banking revolution and connects a series of financial services. To date, the bank owns a digital ecosystem with more than 30 partners in a variety of fields including fintech, e-commerce, invoice providers or payment services, to provide customers with a full range of services. from recharge facilities, bill payments, online purchases to e-wallet services.

TPBank has become one of the symbols of promoting the digital revolution in Vietnam and has become a bridge to bring technology into the lives of Vietnamese people, helping to save time, effort and costs when using it. use digital financial services. TPBank is a solid symbol of innovation and creativity in the banking industry in Vietnam and is still continuing on its digital journey contributing to the country's sustainable development.