TPBank reported a first-quarter profit of over VND2,100 billion, confidently aiming for the 2025 business plan

At the end of the first quarter, Tien Phong Commercial Joint Stock Bank (TPBank, MCK: TPB) earned more than VND 2,100 billion in profit, creating a positive momentum for the implementation of the 2025 target.

According to the business results of the first quarter of 2025 just announced, TPBank's pre-tax profit reached more than VND 2,100 billion, equivalent to 26% of the annual plan. This is not only a positive start, but also a signal that TPBank is on the right track in its sustainable growth strategy when profit increased by more than 15% compared to the same period last year. The ROE index (return on equity) continued to remain high at 17.5%, reflecting TPBank's good and sustainable business performance.

Revenue structure clearly shifted

According to information from TPBank, TPBank's total operating income in the first quarter reached nearly VND 4,500 billion. Of which, interest income still accounts for the largest proportion, reaching VND 3,380 billion. Net income from services continues to be a bright spot, reaching VND 910 billion, up 27% compared to the first quarter of 2024, pushing the proportion of service income in total operating income to over 20%, compared to 15% in the same period last year. This clearly demonstrates that TPBank's business strategy of gradually reducing dependence on credit is proving effective. The bank proactively expands non-credit services such as digital banking, credit cards, electronic payments, personal financial management, etc. to diversify revenue sources, while minimizing risks and increasing business sustainability.

In parallel with the service expansion process, TPBank has continuously increased the technology content in all financial products, helping to improve user experience and increase customer loyalty. In 2024, the bank has added millions of new customers. Thanks to its large customer base, TPBank has a CASA capital source of over 20%, helping to reduce capital costs and increase business efficiency.

Recently, TPBank continued to be voted by Decision Lab as one of the 7 best banks in Vietnam, thanks to its brand reputation and strong digital transformation speed.

Mobilization and credit growth are positive

Total capital mobilization in the first quarter reached VND 337,800 billion, up 7% over the same period. Meanwhile, outstanding loans in market 1 reached more than VND 271,500 billion, up sharply by 28% compared to the first quarter of 2024. Customer loans alone reached more than VND 263,100 billion, up 30% over the same period in 2024. Credit growth rate in the first quarter reached 3.75%, higher than the industry average (2.5%; as of March 25). This is a positive result in the context of the banking industry just starting to recover credit.

TPBank representative said that, in addition to the personal lending segment, the bank focuses on key industries, prioritizing credit for priority sectors, in line with the orientation of the Government and the State Bank. Outstanding credit in 2025 is expected to increase by about 20% -25%, in line with the limit allowed by the State Bank.

The impressive business results in the first quarter are a confident step towards the challenging goal that TPBank set for the whole year 2025, in the context of many unpredictable fluctuations in the domestic and world economies.