Accelerating sharply in the second quarter, TPBank's profit reached nearly VND 3,800 billion in the first 6 months

A strong breakthrough in profit reached nearly VND 2,200 billion in the second quarter, an increase of nearly VND 600 billion, equivalent to an increase of nearly 34% compared to the first quarter, bringing the accumulated profit to June 30, 2022 of TPBank to VND 3,788 billion, increased nearly 26% over the same period last year.

Good growth from effective business, increasing the number of customers

Tien Phong Commercial Joint Stock Bank (TPBank – HOSE: TPB) has just announced its business results for the first 6 months of 2022 with many outstanding growth targets. The strong breakthrough in profit in the second quarter reached nearly VND 2,200 billion, an increase of nearly VND 600 billion, equivalent to an increase of nearly 34% compared to the first quarter, bringing the accumulated profit to June 30, 2022 of TPBank to VND 3,788 billion, increased by nearly 26% over the same period last year.

By the end of June 30, 2022, TPBank's total assets reached more than VND 310 trillion, an increase of more than 28% over the same period last year and completing nearly 89% of the target plan. This growth rate is much higher than the credit growth in the period of the bank, showing that TPBank does not focus too much on credit but has an increase in profit in service and non-credit activities.

TPBank's total operating income reached VND 8,165 billion, up 31% over the same period. Net profit from services reached VND 1,192 billion, up 71.56% over the same period thanks to boosting card issuance, account opening, insurance cross-selling and payment activities. Net interest income from services accounted for 14.6% of total income, up nearly 3.5% compared to June 30, 2021.

As the only bank in Vietnam currently applying Basel III standards, capital adequacy and liquidity indicators are strictly managed by the bank. Accordingly, the capital adequacy ratio according to Basel III (CAR) as of May 31, 2022 reached 13.1%, much higher than the minimum requirement of 8% of the State Bank. NPL ratio is strictly controlled at less than 1%, reflecting TPBank's credit quality and safe asset quality, with diversified credit portfolio, minimizing concentration risks, especially before impact of the Covid-19 pandemic.

TPBank has adjusted the demand for deposit growth according to the bank's capital use needs to achieve the best efficiency. Total deposits reached over 276 trillion dong, up nearly 27% over the same period, equivalent to over 58 trillion dong and completed more than 94% of the plan, mainly focusing on individual and corporate customers.

According to a recent analysis report of Vietcombank Securities: “The strategy of focusing on young customers helps TPBank to grow CASA, a pedestal to maintain mobilization costs in the face of a slight increase in term deposit interest rates. . In the period 2015 - 2021, TPBank witnessed CASA quadruple growth, from nearly VND 7,500 billion to nearly VND 31 trillion.”

By the end of June 30, TPBank added nearly 1.5 million new customers, equivalent to a growth of 25% compared to the end of 2021, bringing the total number of customers TPBank is serving to more than 6 million customers.

Leading by digital innovation and affirming market prestige

Not only succeeding with impressive indicators, in the first half of this year, TPBank continuously launched many outstanding technology products and services, bringing many experiences to attract customers. After 5 years of achieving great success and creating a distinctive impression with LiveBank 24/7, for the first time in Vietnam, the combination of automatic banking model and convenience store model has been "launched" by TPBank with The name is LiveBank+ 24/7. By upgrading its "sleepless banking" system, TPBank is helping customers enjoy extremely different and unique financial service experiences such as: free wifi, phone backup , buy water automatically or experience smart delivery cabinets.

Or recently, with the appearance of the FacePay face payment feature, TPBank's customers can also use their own faces to make purchases with a delicately designed machine system, a friendly interface, and a modern interface. modern and youthful at the counter without carrying any means of payment. Increased investment in these unique digital technology products partly explains why TPBank's operating expenses are at VND3,000 billion.

Mr. Nguyen Hung, General Director of TPBank shared: “In recent years, TPBank has invested trillions of dong each year in technology and digital banking. Despite determining that this is an expensive game, TPBank has always continuously invested in creativity, innovation, and updating technology, thereby launching breakthrough products based on understanding customers and personal needs. humanizing features as well as enhancing security and safety, the goal is to bring the most satisfying and convenient experience to customers.”

Leading the market with digital products and services, in 2022, TPBank's reputation and brand is also highly appreciated by rating agencies in the market. Recently, Vietnam Assessment Report Joint Stock Company (VNR) announced TPBank as one of the 10 most prestigious Vietnamese commercial banks and one of the four most prestigious private banks in 2022. With more and more stringent evaluation criteria of VNR, TPBank has maintained its position in this ranking for 4 consecutive years, proving the trust of customers, shareholders and investors in TPBank. higher.

TPBank is also ranked by VNR as one of the 50 most prestigious and effective public companies, ranked by Forbes magazine as the 50 best listed companies in the market. These are all worthy recognitions for our efforts in constantly improving the customer experience through outstanding digital financial products and services, worthy of the banking brand of the Digital Era.