Revealing the bank that attracts the most deposits in 2022

Particularly in 2022, total customer deposits at this bank will increase by 40% with the main growth driver coming from residential customers.

According to the State Bank of Vietnam, the growth of capital mobilization of the credit institution system in 2022 will reach nearly 6%. Accordingly, it is estimated that the total deposits of people and businesses at banks by the end of 2022 will reach about VND 11.6 million billion.

Despite more positive developments in the last months of the year, the 6% increase in capital mobilization for the whole of 2022 is still much lower than in previous years: 9.24% in 2021, 13.96 in 2020 %, in 2019 is 13.92%. At the same time, deposit growth last year was also less than half that of credit growth (about 14.5%), posing a difficult problem of maintaining healthy liquidity for banks.

Meanwhile, according to the financial statements released by 28 banks, by the end of 2022, banks have mobilized more than 8.3 million billion VND from customer deposits, up 10.7%. compared to the same period last year. The deposit growth picture has a strong divergence as some banks grow above 20% such as MSB, ABBank, VPBank, LienVietPostBank, while others grow less than 5%.

In particular, TPBank is the bank with the strongest deposit growth rate in the past year, increasing from 139.56 trillion VND to 194.96 trillion VND, an increase of more than 55.4 trillion VND (equivalent to 40% increase). Previously, in 2021, TPBank also reached the top of the most attractive deposit banks, recording a growth rate of nearly 21%.

According to the financial report, the group of household and individual customers was the main driving force, with the deposit balance increasing by nearly 28,300 billion VND (equivalent to 46% increase) to nearly 90,000 billion VND. Currently, this group of customers accounts for 46% of total deposits.

Regarding the term deposit structure, the balance of demand deposits and term deposits at TPBank both increased in the past year. In which, the balance of demand deposits (CASA) increased by more than 1,700 billion VND to 32,525 billion VND.

According to Viet Capital Securities (VCSC), TPBank's deposit growth of up to 40% was largely due to the sharp increase in the number of customer accounts (up 38% in the first 11 months of the year). 

TPBank said that although the deposit interest rate is not high compared to the common ground, thanks to its high reputation, millions of customers still choose TPBank as their deposit address. The bank has attracted a large amount of mobilized capital from the population, mainly because of the trust and recognition from customers in a strong financial institution. The bank also continuously maintained healthy liquidity: in market 1, TPBank's outstanding loan-to-deposit ratio (LDR) was around 85%, while the industry average was 93%. This helps the bank to ensure good liquidity when the interbank market fluctuates.

TPBank also recorded positive business results in the past year. Despite many difficulties in the market, TPBank's pre-tax profit reached VND 7,828 billion, an increase of about 30% compared to 2021. In which, fee income grew positively, coming from the increase in guarantee services. and trade finance. In addition, the provisioning for risks was lower due to the positive recovery of debt restructuring customers during the Covid-19 epidemic period.

In the Vietnamese commercial banking system, TPBank is one of the "youngest" banks, with 15 years of establishment and development. Starting from the back and having a small scale, TPBank is considered to have a fast growth rate, especially leaving many imprints in digital transformation activities. Currently, 90% of TPBank's work and operating procedures are paperless, 100% of the digital platform is deployed in all internal and external activities, online and offline. The ratio of digitized services to total transactions reached 93%, belonging to the group of leading banks.

On the map of domestic and foreign charts, this bank has left many impressions. For example, in December 2022, in the ranking of 500 strongest banks in the Asia-Pacific region published by The Asian Banker magazine, TPBank suddenly ranked 61st, 143 places higher than last year and surpassed last year. Even famous names such as Vietcombank (ranked 66th), MB (ranked 72nd), Vietinbank (ranked 129th), BIDV (ranked 127), Techcombank (ranked 101st),... According to Asian Banker, TPBank owning 5 criteria to achieve the maximum score, including: Deposits, Profit on assets, Cost-to-revenue ratio, Provision for loan risks to total bad debts, Liquidity.