CASA ratio increased by 34%, total operating income reached more than 16,000 billion VND, net interest income increased by nearly 9%, to 12,500 billion VND, especially the number of customers grew miraculously, surpassing the 12 million mark in 2023.
By the end of 2023, total assets of Tien Phong Commercial Joint Stock Bank ( TPBank , HOSE: TPB) will be at VND 356,000 billion, up 8.5% compared to the end of 2022, charter capital will increase to more than VND 22,000 billion. The steady increase in capital has provided a strong financial foundation, combined with risk management to keep TPBank's capital adequacy ratio (CAR) according to Basel III standards at 12.4% as of December 31, 2023, among the top in the industry, maintaining the principles of loan growth and capital safety.
TPBank extended its miraculous customer growth streak with 3.5 million new accounts, bringing the total number of customers served to over 12 million. In just 3 years, with a leading and comprehensive digital banking strategy, TPBank has attracted more than 8.6 million customers, double the total number of customers in the previous 12 years. This achievement of TPBank is not only a testament to its ability to attract and retain customers but also a solid step forward in increasing the proportion of quality CASA capital sources of the bank. From there, the proportion of non-term deposits increased by 34%, exceeding VND 47,000 billion. By well regulating the demand for mobilization growth according to capital usage needs to achieve the best efficiency, the bank's total mobilization in 2023 will reach VND 316,500 billion, an increase of nearly 9.5% and exceeding the annual plan.
To ensure credit quality, TPBank also increased provisioning, doubling compared to 2022, at more than VND3,900 billion. This shows that the bank has proactively used resources to cover bad debts, control the bad debt ratio at below 2%, reduce provisioning pressure for the coming years, and reduce the impact of bad debts in the future.
Total operating income reached more than VND 16,000 billion, mostly from net interest income increasing by nearly 9.1% to VND 12,500 billion. Supporting businesses/individuals during the economic recovery period, TPBank has actively reduced interest rates for existing customers, with the total interest reduction for the whole year of 2023 reaching VND 1,950 billion. At the end of the year, the bank recorded a profit of VND 5,600 billion, equivalent to an ROE ratio of over 13.77%, relatively high in the context of the economic slowdown last year.
Success from outstanding products, firmly building a position in the market
With a variety of lending products across many segments, TPBank's outstanding loans exceed VND 217,000 billion, growing by nearly 19% compared to 2022, far exceeding the average growth of the entire industry. This comes from breakthroughs in lending methods, applying technology to support customers in all segments. TPBank's diverse loan packages are well received by the market through linked channels, providing customers with a smooth and convenient lending experience. The lending feature via LiveBank has increased flexibility and convenience, helping to optimize the customer experience. TPBank is also very willing to accompany customers to overcome difficulties by continuously updating preferential interest rate policies, implementing measures to reduce interest rates and fees to support businesses and individuals with a scale of tens of thousands of billions of VND.
In addition to the lending segment, TPBank's card products also made breakthroughs in the market when nearly 1.5 million new cards were opened, with a total card transaction value of about VND 40,200 billion. Of which, spending transactions via TPBank VISA cards alone exceeded the 1 billion USD mark, bringing the bank to the top 3 in terms of card transaction sales growth. In particular, the most impressive growth came from VISA Signature card transaction sales, bringing TPBank to the leading position in the industry.
In 2023, TPBank continued to be nominated for many major awards, including the second consecutive year TPBank held the top position in Vietnam in the list of "Strongest Bank in Asia Pacific " by The Asian Banker. Notably, 2023 is the first year that TPBank appeared in the Brand Finance Rankings with a brand value exceeding 425 million USD, bringing the bank to the Top 5 private banks with the highest brand value in Vietnam. Vietnam Report Joint Stock Company (VNR) ranked TPBank as one of the 10 most prestigious commercial banks in Vietnam, and one of the 4 most prestigious private banks in 2023. TPBank has continuously maintained its position in this ranking for 5 consecutive years.
The recognition of prestigious domestic and foreign rating and evaluation organizations has affirmed the steady progress, accurately reflecting the market correlation and is the best recognition for TPBank's continuous efforts in the past time, for the journey to 2024 and many years of development to come.
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