At the meeting, shareholders unanimously approved the 2025 business plan with many growth targets, especially the plan to divide 10% in cash and 5% in shares.
Through a profit plan increase of 18%
TPBank General Confederation of Labor 2025 approved the annual business plan with the business goal of diversifying revenue sources and improving asset quality, aiming to bring pre-tax profit to VND9,000 billion, up 18% over the previous year.
To achieve the target, total assets are expected to increase by 7.6% to VND450,000 billion. Outstanding loans increased by about 20% to VND 313,750 billion, capital mobilization increased by 12.3% to VND 420,000 billion.
Mr. Do Minh Phu - Chairman of the Board of Directors of TPBank - shared: As one of 16 banks with the importance of the system, TPBank always maintains a solid business foundation and sustainable growth. We are determined to pursue a comprehensive digitalization strategy - from technology infrastructure to operating models - to bring a smart and personalized financial experience to each customer. Since the first quarter of 2025, TPBank has continued to promote its own identity to create a strong breakthrough in business, creating value for customers, shareholders and the community.
Realizing the 2025 target, as early as the first quarter of 2025, TPBank has recorded pre-tax profit of more than VND 2,100 billion, up 15% over the same period last year. TPBank's total operating income in the first quarter reached nearly VND4,500 billion. In particular, net income from services became a bright spot when it increased by 27% compared to the first quarter of 2024, pushing the proportion of service income in total operating income to over 20%, compared to 15% in the same period last year. This is a clear demonstration of TPBank's business strategy of gradually reducing dependence on credit is being effective, aiming to diversify revenue sources, while minimizing risks and increasing business sustainability.
Total capital mobilization in the first quarter reached VND 337,800 billion, up 7% over the same period. Meanwhile, one market outstanding is over 271,500 billion dong, up 28% compared to the first quarter of 2024. Particularly, customers' loans reached more than VND 263,100 billion, equivalent to an increase of 30%compared to the same period of 2024. Credit growth rate in the first quarter reached 3.75%, higher than the industry average (2.5%; as of March 25). This is a positive result in the context that the banking industry has just begun to recover credit.
Cash and stock dividends for the third consecutive year
The 2025 General Meeting of Shareholders approved the cash dividend payment plan and the charter capital increase plan in 2025. Accordingly, after considering the Bank's business activities as stable, with a long history of safe and healthy development as well as to increase benefits for shareholders who have accompanied the Bank over the past time, the Bank decided to pay cash dividends in 2025.
TPBank proposed to divide a 10% cash dividend (01 shares received 1,000 VND) from the united profit after setting up funds as of December 31, 2024, according to the consolidated financial statements in 2024 that have been audited by the Bank.
At the same time, TPBank issued a maximum of more than 132 million shares to pay dividends to shareholders at a rate of 5% (shareholders owning 100 shares on the last registration date to exercise their rights will receive 5 new shares). The implementation source is taken from the united profits after setting up funds as of December 31, 2024, according to the consolidated financial statements in 2024 that have been audited by the Bank.
After issuance, TPBank's charter capital will increase to a maximum of VND 1,320.9 billion, from VND 26,420 billion to more than VND 27,740 billion.
This is the third consecutive year that TPBank has divided dividends in both cash and shares.
Continuing growth momentum thanks to flexible strategies
In 2024, TPBank continued to maintain impressive growth momentum with pre-tax profit of nearly VND 7,600 billion, up 36% over the previous year and exceeding the plan. The return on equity (ROE) ratio reached over 17%. Total assets exceeded VND 418,000 billion, up 17% over the previous year. TPBank's charter capital increased to VND26,420 billion.
The bank has gradually shifted to a multi-service business model, reducing dependence on credit. TPBank's operating income reached more than VND18,000 billion, up 11% compared to 2023, of which net interest income from services grew by 47.5%.
The Bank's outstanding credit reached VND261,500 billion, up more than 20% over the previous year, higher than the industry average.
TPBank affirmed its position as a leading digital bank with 2.1 million new customers in the year, bringing the total to 14.1 million customers. CASA reached nearly VND54,000 billion, up 14.4%, among the highest growth groups in the system. Financial indicators continue to be positive: Capital flight safety ratio (CAR) reaches over 13%, exceeding Basel III standards; The cost-to-income ratio (CIR) decreases sharply to 34.78%, showing clear improvement in operational efficiency.
In 2024, TPBank entered the Top 100 strongest financial brands globally for the second time and held 23rd place in the Vietnam 100 list published by Brand Finance, with a brand value of 461 million USD (up 8%). The bank is in the Top 4 most powerful banks in Vietnam (The Asian Banker), Top 10 prestigious banks in Vietnam and 5th in the prestigious private banking group (Vietnam Report).
