TPBank will open four new branches and two transaction offices in 2021. — Photo vietstock.vn

The State Bank of Viet Nam (SBV) has approved the charter capital increase of TPBank from the current VND8.5 trillion (US$366.5 million) to VND10.7 trillion as well as expanding their network with four new branches and two transaction offices in 2021.

The charter capital increase was also approved at its shareholder meeting last month.

By the end of September, TPBank’s capital adequacy ratio reached 11.4 per cent according to BASEL II standards, much higher than the 8 per cent figure required by the central bank.

The bank reported a before-tax profit of VND3 trillion in the first nine months of the year, meeting 74 per cent of the year’s target. Its total assets increased by 26 per cent from the same period last year to VND193 trillion. Its bad debt was at a low level of 1.77 per cent.

Its growth rate of before-tax profit from retail banking sector was 2.5 times higher from 2018. Its number of individual customers also hiked from 60,000 in 2012 to 3.7 million in 2020. — VNS