TPBank is proud to be the Vietnam National Brand 2024

For two consecutive years, TPBank has been honored as a Vietnam National Brand, clearly demonstrating the bank’s correct direction in developing financial banking products and services. Not only does it provide customers with numerous banking conveniences in the digital era, but it has also become one of the businesses making significant contributions to the economy.

TPBank's Deputy General Director, Pham Dong Anh, receives the Vietnam National Brand Cup.

Last night (November 4th), the announcement ceremony for products awarded the Vietnam National Brand in 2024, under the theme "Stepping into the Green Era," was solemnly held at the National Convention Center by the Ministry of Industry and Trade.

At the event, Prime Minister Pham Minh Chinh praised the efforts and significant contributions of the Vietnamese business community, especially the 190 businesses whose products earned the Vietnam National Brand in 2024.

“These businesses have achieved impressive business results, with total revenue in 2023 reaching VND 2.4 trillion, contributing approximately VND 150 trillion to the state budget, providing jobs for over 600,000 people, and actively participating in social welfare activities, thus contributing to the fast and sustainable development of the country,” emphasized the Prime Minister.

In 2024, TPBank was honored for the second consecutive year as a Vietnam National Brand. As a pioneering leader, constantly innovating, TPBank’s ecosystem of financial banking products and services has long been a trusted and familiar brand with a distinct identity in the market. The achievements of many years of steadfast digital transformation, effective and sustainable business practices, and innovation have been recognized.

As of the end of Q3 2024, TPBank’s total mobilized capital increased by over 8% compared to the beginning of the year, surpassing its plan and reaching VND 342.12 trillion. Revenue exceeded VND 12.9 trillion, up nearly 10% compared to the same period in 2023. In this, net interest income remained the main driver of growth, continuing its double-digit increase (10%), reaching VND 9.84 trillion. The services segment also played an increasingly important role, contributing nearly VND 2.455 trillion to the bank’s total income. TPBank's profit in the first nine months of 2024 reached over VND 5.46 trillion, an increase of 10.2% compared to the same period last year.

TPBank actively manages risks, covers bad debts, and avoids negative impacts in the future by significantly increasing its provisions over 1.5 times compared to 2023, totaling nearly VND 3,000 billion. As of September 30th, TPBank’s Capital Adequacy Ratio (CAR) under Basel III standards (the most rigorous and comprehensive risk management standard in the banking industry) was 13%, well above the Basel III minimum requirement of 10.5%.

As part of its sustainable development strategy, TPBank always adheres to legal business principles in Vietnam, contributes positively to the state budget, and takes on more responsibility towards the community through charitable activities and support for vulnerable groups. For many consecutive years, TPBank has been one of the top 30 companies contributing the most to the state budget. In 2023, TPBank contributed VND 2.419 trillion to the state budget, making it one of the top 10 private banks with the highest contributions.

In September 2024, in response to the severe impact of Typhoon No. 3 (Yagi) in the northern provinces, TPBank demonstrated its solidarity by donating VND 2.5 billion to help local residents recover from the floods and stabilize their lives. TPBank was also one of the first banks to launch a program offering up to a 50% reduction in interest rates for existing personal customers affected by the storm, with a program limit of VND 2,000 billion.

Mr. Nguyen Hung, TPBank’s CEO, shared: “We are always proud to be a Vietnam National Brand. TPBank remains steadfast in every action, in every step, with a focus on sustainable development, contributing our efforts for the community, and for a prosperous and thriving Vietnam.”

According to Brand Finance's assessment, in recent years, Vietnam’s national brand has made significant progress. Vietnam not only ranks in the Top 100 countries with strong brands but also has the fastest-growing brand value in the world between 2019-2022. In 2024, Vietnam's brand value is ranked 32nd out of 193 evaluated countries, reaching USD 507 billion, climbing one rank and increasing by 2% compared to 2023. This is clear evidence of the efforts of the business community and entrepreneurs, alongside the results of the National Brand Program and the positive impact of the government’s policies in creating a favorable business environment, attracting investment, fostering innovation, and driving sustainable development.