TP Bank’s profit doubles year-on-year

Tuesday, Mar 20, 2018 08:47

A customer conducts a transaction at a TPBank branch in Ha Noi. — Photo

Tien Phong Commercial Joint Stock Bank (TPBank) earned VND275.8 billion (US$12.1 million) in profit in the first two months of this year, a two-fold increase year-on-year.

The non-performing loan (NPL) ratio was kept at 0.97 per cent, still within permitted the level.

The bank is in the process of completing procedures to list shares on the HCM Stock Exchange (HoSE).

TPBank shares are expected to be listed on the exchange in April. The bank’s shareholders also expect to receive dividends for the first time after six years of successful restructuring.

TPBank posted impressive growth in 2017. Its profit rose by 70 per cent from 2016 to more than VND1.2 trillion. Its total assets were VND124 trillion, up 17.2 per cent.

The bank’s total credit was VND71.29 trillion, representing a 22 per cent year-on-year rise. It was listed among the top banks with the best credit quality in the market and low bad debt rate of just 0.87 per cent.

TPBank’s total capital mobilisation was VND115 trillion, increasing 17.5 per cent from the previous year. — VNS

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