TienPhong Commercial Joint Stock Bank | APEA - Asia Pacific Enterprise Awards

OUTSTANDING CATEGORY

Do Minh Phu
Chairman


TienPhong Commercial Joint Stock Bank
www.tpb.vn


Do Minh Phu was born in 1953, well known as the founder of the Doji Group – a leading gold and gem brand in Vietnam. He officially joined TPBank under the Banking Restructuring Project approved by the State Bank of Vietnam in April 2012. At the Annual General Meeting of Shareholders in 2012, Do Minh Phu was elected Chairman of the Board of Directors of TPBank. The Bank was restructured under his helm.

Do Minh Phu was born into a famous business family. However, what makes Do Minh Phu a successful entrepreneur is his independent spirit and strong will. Do Minh Phu’s life has many milestones, but there are 2 significant landmarks, one was when he gave up the position of General Director of a foreign joint-venture company to establish a private company - TTD Co., Ltd, which later became Doji Group; another is when he gave up the position as Chairman of Doji’s Board to join TPBank - at that time was still a weak bank, struggling in the restructuring process.

As the Chairman of the Board of Directors, Do Minh Phu led TPBank to complete the process of restructuring. In mid-2015, TPBank compensated all accumulated losses and became the only bank to successfully restructure itself. The addition of more foreign shareholders - IFC (of Word Bank) (2016) and PYN Elite Fund (2017) – marks an important milestone for the strong development of TPBank.

Under Do Minh Phu’s leadership, TPBank became the Top 10 strongest commercial banks in Vietnam. The Bank’s assets grew seven-fold in seven-years to VND 153,000 billion. Its customer base grew to over 2.5 million, an increase of 40 times. Accumulated pre-tax profit for this period was VND 6,100 billion and the number of employees reached over 5,000, a 7-fold increase. TPBank’s bad debt rate was kept below 1 percent for the past 5 years, the lowest among commercial banks in the country. TPBank is one of the pioneering banks to apply Technology 4.0 and Fintech to Banking products and services. In November 2018, TPBank was honoured with the Third-class Labour Medal of the President for its great contributions to the banking sector in particular and Vietnam’s economy in general.

He has won numerous awards which includes Certificate from the Prime Minister “Outstanding achievements in the implementation of credit institutions restructuring plan for the period of 2011-2015”. He also twice received the Labor Medal “Outstanding achievements in the work, contributing to build Socialism & protect country” by the President of the Socialist Republic of Vietnam, and twice rewarded as an Outstanding Vietnamese Entrepreneur - Thanh Giong Cup (2010 and 2016).

Business plan
In 2019, TPBank has set a target pre-tax profit of VND 3,200 billion, an increase of 41% compared to 2018. The Bank has also targeted total assets to reach VND 158,000 billion and charter capital to increase to VND 10,000 billion. TPBank has also set a target of mobilization to reach VND 142,000 billion, outstanding loans at VND 101,000 billion and NPL to remain at below 2%. At the shareholders’ meeting in April 2019, TPBank’s Board of Directors submitted its strategic development plan with the goal of becoming the Top 10 most effective banks in the period 2018-2022.

2019 is a key year for the bank in its goal of achieving sustainable development. In addition to strengthening the fundamental elements to improve the bank’s operations, the Bank will ensure compliance with Basel II standards. TPBank has identified key focus areas, including boosting funds to high-technology and supporting industries and small and medium sized enterprises (SMEs).

On the retail business sector, TPBank will focus on developing new digital banking projects, expanding its operations network with emphasis on digital models such as LiveBank and eBank applications. These initiatives are consistent with the Bank’s goal of becoming a leading digital bank in Vietnam. TPBank plans to open 100 new LiveBank points, bringing the total number of these models to 200 points nationwide. At the same time, TPBank will continue to diversify and complete policies to prioritize the development of suitable products and services to meet customers’ needs.

OUTSTANDING CATEGORY

Do Minh Phu
Chairman

Do Minh Phu was born in 1953, well known as the founder of the Doji Group – a leading gold and gem brand in Vietnam. He officially joined TPBank under the Banking Restructuring Project approved by the State Bank of Vietnam in April 2012. At the Annual General Meeting of Shareholders in 2012, Do Minh Phu was elected Chairman of the Board of Directors of TPBank. The Bank was restructured under his helm.

Do Minh Phu was born into a famous business family. However, what makes Do Minh Phu a successful entrepreneur is his independent spirit and strong will. Do Minh Phu’s life has many milestones, but there are 2 significant landmarks, one was when he gave up the position of General Director of a foreign joint-venture company to establish a private company - TTD Co., Ltd, which later became Doji Group; another is when he gave up the position as Chairman of Doji’s Board to join TPBank - at that time was still a weak bank, struggling in the restructuring process.

As the Chairman of the Board of Directors, Do Minh Phu led TPBank to complete the process of restructuring. In mid-2015, TPBank compensated all accumulated losses and became the only bank to successfully restructure itself. The addition of more foreign shareholders - IFC (of Word Bank) (2016) and PYN Elite Fund (2017) – marks an important milestone for the strong development of TPBank.

Under Do Minh Phu’s leadership, TPBank became the Top 10 strongest commercial banks in Vietnam. The Bank’s assets grew seven-fold in seven-years to VND 153,000 billion. Its customer base grew to over 2.5 million, an increase of 40 times. Accumulated pre-tax profit for this period was VND 6,100 billion and the number of employees reached over 5,000, a 7-fold increase. TPBank’s bad debt rate was kept below 1 percent for the past 5 years, the lowest among commercial banks in the country. TPBank is one of the pioneering banks to apply Technology 4.0 and Fintech to Banking products and services. In November 2018, TPBank was honoured with the Third-class Labour Medal of the President for its great contributions to the banking sector in particular and Vietnam’s economy in general.

He has won numerous awards which includes Certificate from the Prime Minister “Outstanding achievements in the implementation of credit institutions restructuring plan for the period of 2011-2015”. He also twice received the Labor Medal “Outstanding achievements in the work, contributing to build Socialism & protect country” by the President of the Socialist Republic of Vietnam, and twice rewarded as an Outstanding Vietnamese Entrepreneur - Thanh Giong Cup (2010 and 2016).


TienPhong Commercial Joint Stock Bank
www.tpb.vn


Business plan
In 2019, TPBank has set a target pre-tax profit of VND 3,200 billion, an increase of 41% compared to 2018. The Bank has also targeted total assets to reach VND 158,000 billion and charter capital to increase to VND 10,000 billion. TPBank has also set a target of mobilization to reach VND 142,000 billion, outstanding loans at VND 101,000 billion and NPL to remain at below 2%. At the shareholders’ meeting in April 2019, TPBank’s Board of Directors submitted its strategic development plan with the goal of becoming the Top 10 most effective banks in the period 2018-2022.

2019 is a key year for the bank in its goal of achieving sustainable development. In addition to strengthening the fundamental elements to improve the bank’s operations, the Bank will ensure compliance with Basel II standards. TPBank has identified key focus areas, including boosting funds to high-technology and supporting industries and small and medium sized enterprises (SMEs).

On the retail business sector, TPBank will focus on developing new digital banking projects, expanding its operations network with emphasis on digital models such as LiveBank and eBank applications. These initiatives are consistent with the Bank’s goal of becoming a leading digital bank in Vietnam. TPBank plans to open 100 new LiveBank points, bringing the total number of these models to 200 points nationwide. At the same time, TPBank will continue to diversify and complete policies to prioritize the development of suitable products and services to meet customers’ needs.