TPBank named 'Strongest Bank in Viet Nam'

Monday, Dec 19, 2022 12:29

Transactions at TPBank. Photo courtesy of the bank

TPBank was honoured as "The Strongest Bank in Viet Nam” by The Asian Banker with a total score of 3.31, jumping from 7th position last year.

The bank also took the 61st position in the ranking of Asia-Pacific region as it achieved the maximum score for five criteria including deposit, return on assets, cost-to-revenue ratio, provision for credit losses for total bad debts and liquidity.

TPBank was highly appreciated for its capital adequacy ratio (CAR) due to the application of Basel III international risk management standards while other banks in the system have only been applying Basel II.

This showed TPBank's efforts when it is a young bank with small total assets, but always cares about its internal financial strength for development as well as persistently pursuing sustainable values to continually build on its strength.

From a bank in the process of restructuring, the results have come after many years of continuously focusing on comprehensive business development as well as pioneering efforts to fulfil advanced international standards in risk management, improving capital capacity, asset quality and maintain stability in the face of market fluctuations.

Nguyen Hung, TPBank’s general director, said: “When implementing these standards at the same time, the pressure on the bank's capital plan in the medium and long term is very great, forcing TPBank to optimise capital sources and develop effective business plans to ensure our fast but sustainable development. The Asian Banker's ratings and recognition accurately reflected the market correlation and are the best recognition for TPBank's continuous efforts in recent years.”

Every year, The Asian Banker's "The Strongest Bank in Viet Nam" ranking is always paid great attention and highly appreciated by experts. This is also a measure of the market's value when it accurately assesses the financial health and business performance of commercial banks in Viet Nam, more broadly in the Asia Pacific region. VNS

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