Tien Phong Commercial Joint Stock Bank (TPBank, MCK: TPB) has just updated its business results in the first two months of 2025 with pre-tax profit reaching nearly 1,430 billion VND. According to the forecast, TPBank will continue to maintain strong growth momentum with expected profit reaching VND 2,100 billion by the end of the first quarter of 2025, equivalent to a growth rate of 14.8% over the same period last year. This growth momentum comes from expanding business operations, optimizing financial efficiency and controlling costs effectively.
TPBank's total operating income continued to grow impressively, reaching more than VND 2,800 billion in the first two months of the year and is expected to reach VND 4,300 billion by the end of the first quarter. This reflects not only TPBank's scale expansion but also its outstanding ability to optimize revenue.
Outstanding loans to customers also recorded significant growth, reaching VND 263,920 billion and are forecast to reach about VND 269,000 billion by the end of the first quarter. The strong recovery of credit demand, combined with a strategy focusing on key industries, helped TPBank consolidate its position in the retail banking sector.
With the CASA rate maintained at over 20%, TPBank continues to ensure mobilized capital at low costs, contributing to improving operational efficiency and stable profitability. At the same time, the capital improvement ratio (CAR) remains above 13%, affirming financial stability and tight risk control.
Strong growth prospects in 2025
In a newly published report, analysts from MBS Securities Company assessed that TPBank has a great advantage thanks to its leading position in the digital banking sector, helping to expand access to young customers and increase credit growth.
In 2025, TPBank's credit growth is forecast to reach 16% thanks to its focus on the segment of well-income customers, millennials and businesses with two key products: car loans and home mortgages.
At the same time, the bank's credit growth may remain at 17% in 2026, while TPBank will promote the retail lending segment thanks to increased consumer demand and recovery of personal income.
The bank's NIM is expected to improve by 3 basis points this year to 3.54%, thanks to higher net interest rates due to the ability to transfer interest costs to customers in the context of strong recovery in retail credit demand.
Regarding asset quality, as of the end of the fourth quarter of 2024, TPBank's bad debt ratio (NPL) improved by 80 basis points quarter-on-quarter and 53 basis points over the same period, reaching 1.52%. This is the lowest level since the first quarter of 2023 and lower than the industry average (1.91%).
Experts expect asset quality to continue to improve in 2025 thanks to the warming economy and recovery in production and business activities. Meanwhile, the debt ratio of group 2/total outstanding debt has decreased continuously for 6 quarters (26 basis points compared to the previous quarter) helping to reduce the pressure of increasing bad debt in 2025. At the same time, TPBank will continue to consolidate the accounting balance sheet through debt collection and reserve setting in 2025.
With all the above motivations, MBS experts predict that TPBank can achieve pre-tax profit of VND 9,116 billion for the whole year of 2025, an increase of 20% compared to the results achieved in 2024.
On April 24, TPBank will hold the 2025 Annual General Meeting of Shareholders in Hanoi. The meeting will focus on discussing business results in 2024, growth plans for 2025, and important strategic issues to maintain the bank's strong growth momentum.
With the achievements and positive growth prospects, TPBank is affirming its solid position in the banking industry, ready to make a strong breakthrough in the coming time.
