TPBank was the first bank in the country announcing its business results for the whole year, with positive results.
By the end of 2021, its total assets reached VND295 trillion, representing 42 per cent year-on-year increase and surpassing 17 per cent of the set target. Its total operating income (TOI) rose by 30 per cent from the previous year. Its bad debt was controlled at 0.9 per cent.
The bank last year mobilised more than VND262 trillion, increasing VND77 trillion from 2020, of which the capital mobilisation mainly came from deposits of organisations and individuals.
In addition to profit from lending activities, the bank’s net income from services also rose by 65 per cent from the previous year, reaching VND1.5 trillion.
Its market capitalisation reached over $2.8 billion by the end of last year.
In 2021, TPBank was approved twice by the State Bank of Viet Nam to increase its charter capital, bringing the total charter capital to more than VND15.8 trillion by issuing private offering and issuing shares to pay dividends.
As a result, its capital adequacy ratio was enhanced. By the end of 2021, TPBank's capital adequacy ratio (CAR) was nearly 14 per cent, nearly double the 8 per cent required by the central bank.
“Improving capital base is one of the factors that helped TPBank to keep its growth momentum during a difficult period due to the pandemic’s impact, especially when the bank completes and applies Basel III and IFRS9 international standards in the fourth quarter of 2021,” said Nguyen Hung, TPBank’s general director.
Facing complicated developments of COVID-19, in 2021, TPBank has made adjustments to diversify its revenue sources.
“We have deployed many digital technology products and services to meet the contactless needs of customers during the pandemic period, especially, focusing on exploiting the number of customers with good quality and low risk ratio.”
TPBank's products and services have been continued to be applied to artificial intelligence and modern technologies. Its cost income ratio (CIR) last year decreased from 40 to 33 per cent. Its return on asset (ROA) and return on equity (ROE) were 1.94 and 22.61 per cent, respectively.
Digitisation also contributed to TPBank's growth in the number of customers, from 1.7 million in 2017 to 5 million by the end of 2021, of which more than 2.4 million were regular customers on electronic transaction channels.
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