On the evening of November 4, the Ceremony to announce products achieving the Vietnam National Brand 2024 with the theme "Strengthening into the Green Era" organized by the Ministry of Industry and Trade was solemnly held at the National Convention Center.
In 2024, TPBank was honored as a Vietnamese National Brand for the second consecutive time. Pioneering and constantly innovating, TPBank's banking and financial products and services ecosystem has long been a familiar, prestigious brand with its own identity in the market.
The achievements of many years of perseverance on the path of innovation through strong digital transformation and sustainable and effective business of TPBank have been recognized.
By the end of the third quarter of 2024, TPBank's total mobilization increased by over 8% compared to the beginning of the year, exceeding the plan when reaching the milestone of 342,120 billion VND. Revenue reached the milestone of over 12,900 billion VND, an increase of nearly 10% compared to the same period in 2023.
In particular, net interest income played the role of the main growth driver when continuing the double-digit growth (10%), reaching VND9,840 billion. The service segment also proved its increasingly important role when contributing nearly VND2,455 billion to the total revenue of the whole bank. TPBank's profit in the first 9 months of the year reached more than VND5,460 billion, up 10.2% over the same period last year.
TPBank proactively controlled risks, covered bad debts, and avoided negative impacts in the future by increasing provisioning in the past year by more than 1.5 times compared to the same period in 2023, at nearly VND 3,000 billion.
As of September 30, TPBank's capital adequacy ratio (CAR) according to Basel III standards (the strictest and most comprehensive risk management standards in the banking industry today) was 13%, much higher than the minimum requirement of Basel III (10.5%).
In its sustainable development strategy, TPBank always adheres to business principles in accordance with Vietnamese law, actively contributes to the state budget and increases responsibility to the community through charitable activities, supporting vulnerable groups in society.
For many consecutive years, TPBank has always been one of the 30 enterprises that contribute the most to the budget. With 2,419 billion VND contributed to the State budget in 2023, TPBank has become one of the 10 private banks that contribute the most to the budget in the year.
In September, facing the serious impact of storm No. 3 (Yagi) in the northern provinces, promoting the spirit of "mutual love", TPBank donated 2.5 billion VND to help people overcome the consequences of floods and stabilize their lives soon.
TPBank is also one of the first banks to launch a support program to reduce up to 50% of current interest for existing individual customers affected by floods caused by Typhoon Yagi, with a program limit of up to VND 2,000 billion.
Mr. Nguyen Hung, General Director of TPBank shared: “We are always proud to be a Vietnamese National Brand. TPBank is always steadfast in every action, every step forward, setting the goal of sustainable development, dedicating our efforts to the community, for a rich and prosperous Vietnam”.
According to Brand Finance, in recent years, Vietnam's national brand has made great strides. Vietnam is not only in the Top 100 countries with strong brands, but also the country with the fastest growth rate in brand value in the world in the period 2019-2022.
Vietnam's brand value in 2024 is ranked 32nd out of 193 countries assessed, reaching 507 billion USD, up 1 rank and 2% in value compared to 2023.
This is a clear demonstration of the efforts of the business community and entrepreneurs, along with the results of the National Brand Program and the positive impacts of the Party and State's mechanisms and policies in creating a business environment, attracting investment, promoting innovation and sustainable development.
