TPBank reports first-ever accumulated profit

Wednesday, Jan 06, 2016 10:23

HA NOI (Biz Hub) — Tien Phong Commercial Joint Stock Bank (TPBank) reported accumulated profit of VND625 billion (US$27.7 million) and mobilised capital of VND69 trillion (US$3.06 billion) in 2015.

With these positive results, the bank completed the set pre-tax profit target of VND620 billion ($27.5 million) and bad debt ratio of 0.40 per cent. Its total assets in 2015 reached VND76.2 trillion ($3.38 billion), 1.5 times higher than the previous year.

In 2015, TPBank also opened five new branches. It was also given a licence from the Governor of the State Bank of Viet Nam Nguyen Van Binh to open five more branches and seven transaction offices in 2016.

Over the past three years, the bank has successfully implemented restructuring and reported profits of VND1.67 trillion ($74.2 million). It is aiming to become one of the leading commercial banks in Viet Nam. — VNS

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