The Asian Banker has announced the Top 500 Strongest Banks 2023 Ranking, which is reviewed in many countries and regions with detailed and transparent scores. Banks and financial companies are evaluated based on six criteria including balance sheet performance; specifically, size, balance sheet growth, risk profile, profitability, asset quality and liquidity, divided into 14 specific factors. The assessment is conducted from March to August every year when the bank's annual financial results are available. The ranking is followed by many investors, analysts and the media as the leading source of information to assess the financial strength of banks and their parent financial institutions.
On the recorded scoreboard, TPBank 's component scores on debt structure, deposit structure, credit balance ratio over total deposits, CAR ratio... were given exceptionally high scores. As a result, TPBank achieved 6.05 points, ranking first in Vietnam.
Pursuing sustainable development values with a healthy and stable business foundation, TPBank's risk management system is always highly appreciated by experts.
The Asian Banker representative highly appreciated TPBank's efforts in proactively implementing Basel III regulations. In 2022, despite having previously met Basel III standards, TPBank will continue to increase its risk management capacity with advanced methods according to Basel III.
"In 2022, TPBank maintained a strong liquidity position, with current assets accounting for 49% of total deposits and loans, exceeding the average of 27.8% of all Vietnamese banks in the ranking. The bank achieved high profitability, with net profit increasing by 30%. Return on assets (ROA) reached 2%, while return on equity (ROE) was 22%. In addition, the non-performing loan ratio was low at 0.8% in 2022, far exceeding the industry average of 1.5%," The Asian Banker representative added.
In the first 9 months of the year, despite being affected by the difficult economic situation, the bank still ensured that the indicators were within the limits allowed by the State Bank, despite being affected by the difficulties of the consumer finance segment.
With practical policies for the market and society, customers always trust and support TPBank, which is reflected in the growth of deposits, along with a significantly improved CASA ratio. Meanwhile, customer loan growth is nearly 12%.
TPBank also focused on increasing service income by 15% over the same period and foreign exchange income by 32%, replacing the stagnation of net interest income. The bank achieved a profit of nearly VND 5,000 billion in 9.2023.
Always accompanying customers, TPBank has continuously updated preferential interest rate policies and reduced fees to support businesses and individuals to overcome difficult times. The bank committed to reducing loan interest rates by an estimated VND 1,400 billion, along with VND 76 billion in other fees for customers this year. This has affected TPBank's profits, recorded at nearly VND 5,000 billion after 9 months.
At the end of 9 months, TPBank's total assets increased by 5% compared to the end of last year, reaching over VND 344,400 billion. In early 2023, TPBank also increased its charter capital to over VND 22,000 billion through dividend payment in bonus shares at a rate of 39.19%.
This is the second consecutive year that TPBank has led the group of strong Vietnamese banks, demonstrating its financial foundation and tight risk control operations. Purple Bank is always at the forefront of meeting the world's strict standards on capital safety, security foundation and maintaining sustainable and effective business operations. This is also a common trend among the world's leading banks.
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