Information about the Company
Established in 2008, Tien Phong Commercial Joint Stock Bank (TPBank) inherited the strength of its domestic and foreign strategic shareholders, aspiring to become a transparent, efficient and sustainable financial institution that brings the best benefits to its shareholders and customers.
The bank’s vision is to become one of the leading commercial banks in Vietnam with cutting-edge products and services to contribute to the prosperity of Vietnam. Meanwhile, its mission is to provide perfect financial products and services for Customers and Partners based on advanced, modern, and highly efficient technology infrastructure; operate on a transparent, secure, efficient, and sustainable platform; create optimal conditions for staff to have a good living standard and promote their creativity and career development; make a high commitment to social responsibility, community activities for the sake of human and national prosperity.
Moreover, Integrity, Innovation, Progressiveness, Synergy, Persistence are the 5 core values of TPBank which are solid foundations to build up TPBank’s brand name and achieve current and future strategic targets.
Company Culture & Company Activities
TPBank understands the meaning of employee recognition which helps employees feel valued and be motivated at work. The bank maintains a competitive, fair and transparent compensation and benefits policy. TPBank treats employees as valuable assets of the organisation and has non-financial benefits to ensure health, happiness and a stable financial future for employees in addition to its financial remuneration policy.
Besides, TPBank has issued a code of conduct—along with many internal communication channels—ensuring and creating the best conditions for mutual relationships. Internal cooperation is always coordinated based on respect and equality, cooperation and sharing, trust and friendliness. TPBank identifies the building and development of corporate culture as the foundation and core strength to implement strategic goals.
Furthermore, TPBank also pioneered in sharing difficulties with people and the business community by exempting or reducing interest rates for more than 43,000 customers with a total loan balance of VND 52,900 billion, the amount of interest exemption and reduction is VND 678 billion during the COVID-19 pandemic. The bank also implemented many other corporate social responsibility (CSR) activities such as sponsoring ventilators for frontline hospitals, awarding scholarships to poor students overcoming difficulties, supporting children in orphanages, etc.
A deeper understanding
Achievements & Impact
By the end of 2020, the total assets of TPBank were more than VND 206 trillion, increasing 95% compared to the end of 2016. Total capital mobilisation reached nearly VND 185 trillion in which capital structure and capital use also changed in quality when market 1 mobilisation reached VND 143 trillion, an increase of more than 160% compared to the end of 2016 (equivalent to VND 88,260 billion).
Credit activities of TPBank continuously grow well while ensuring the credit growth is approved by The State Bank of Vietnam with total outstanding loans by the end of 2020 reaching VND 121 billion. The credit quality of TPBank is strictly controlled, and the non-performing loan ratio (NPL) was 1.17%, lower than the regulations of the State Bank of Vietnam. The bank’s profit before tax in 2020 reached VND 4.389 billion which was 6 times higher than in 2016.
As of June 2021, TPBank's network has expanded to a Head Office and Representative Office in Ho Chi Minh City, 42 branches and 48 transaction offices in Vietnam.
Future Direction
The bank is conducting a review on the 2020-2025 business strategy and 2030 vision to renew a suitable financial system adapted to the market. It is developing in-depth by seizing the advantages in different areas to meet the market’s rapid change and the requirements of the State Bank of Vietnam and creating solutions to implement the strategy in which the CEO and the Board of Directors are required to pay special attention to the challenges within the 4th Industrial Revolution.
Meanwhile, the bank is strengthening its ability in predicting statistics, building backup plans to closely keep the eyes on the domestic and international economic situation and closely supervising and directing the Board of Directors in business activities. It is also guiding and overseeing the credit activities in accordance with the State Bank’s orientations and practical operations of TPBank in order to maximise the efficiency of credit quotas as notified by the State Bank, improve credit quality, control credit for risky areas as warned by the State Bank of Vietnam and maintain the NPL ratio and increase market share according to expected targets.
Additionally, TPBank is implementing the second phase of its digital transformation process: Digital Innovation. This strategy is aimed at increasing the proportion of active customers or those having accounts at TPBank to 70-80% and attracting corporate customers. The bank will also continue to promote the development of products and services for corporate customers, small and medium enterprises (SMEs).
CORPORATE EXCELLENCE CATEGORY
Tien Phong Commercial Joint Stock Bank (TPBank)
Information about the Company
Established in 2008, Tien Phong Commercial Joint Stock Bank (TPBank) inherited the strength of its domestic and foreign strategic shareholders, aspiring to become a transparent, efficient and sustainable financial institution that brings the best benefits to its shareholders and customers.
The bank’s vision is to become one of the leading commercial banks in Vietnam with cutting-edge products and services to contribute to the prosperity of Vietnam. Meanwhile, its mission is to provide perfect financial products and services for Customers and Partners based on advanced, modern, and highly efficient technology infrastructure; operate on a transparent, secure, efficient, and sustainable platform; create optimal conditions for staff to have a good living standard and promote their creativity and career development; make a high commitment to social responsibility, community activities for the sake of human and national prosperity.
Moreover, Integrity, Innovation, Progressiveness, Synergy, Persistence are the 5 core values of TPBank which are solid foundations to build up TPBank’s brand name and achieve current and future strategic targets.
Company Culture & Company Activities
TPBank understands the meaning of employee recognition which helps employees feel valued and be motivated at work. The bank maintains a competitive, fair and transparent compensation and benefits policy. TPBank treats employees as valuable assets of the organisation and has non-financial benefits to ensure health, happiness and a stable financial future for employees in addition to its financial remuneration policy.
Besides, TPBank has issued a code of conduct—along with many internal communication channels—ensuring and creating the best conditions for mutual relationships. Internal cooperation is always coordinated based on respect and equality, cooperation and sharing, trust and friendliness. TPBank identifies the building and development of corporate culture as the foundation and core strength to implement strategic goals.
Furthermore, TPBank also pioneered in sharing difficulties with people and the business community by exempting or reducing interest rates for more than 43,000 customers with a total loan balance of VND 52,900 billion, the amount of interest exemption and reduction is VND 678 billion during the COVID-19 pandemic. The bank also implemented many other corporate social responsibility (CSR) activities such as sponsoring ventilators for frontline hospitals, awarding scholarships to poor students overcoming difficulties, supporting children in orphanages, etc.
A deeper understanding
Achievements & Impact
By the end of 2020, the total assets of TPBank were more than VND 206 trillion, increasing 95% compared to the end of 2016. Total capital mobilisation reached nearly VND 185 trillion in which capital structure and capital use also changed in quality when market 1 mobilisation reached VND 143 trillion, an increase of more than 160% compared to the end of 2016 (equivalent to VND 88,260 billion).
Credit activities of TPBank continuously grow well while ensuring the credit growth is approved by The State Bank of Vietnam with total outstanding loans by the end of 2020 reaching VND 121 billion. The credit quality of TPBank is strictly controlled, and the non-performing loan ratio (NPL) was 1.17%, lower than the regulations of the State Bank of Vietnam. The bank’s profit before tax in 2020 reached VND 4.389 billion which was 6 times higher than in 2016.
As of June 2021, TPBank's network has expanded to a Head Office and Representative Office in Ho Chi Minh City, 42 branches and 48 transaction offices in Vietnam.
Future Direction
The bank is conducting a review on the 2020-2025 business strategy and 2030 vision to renew a suitable financial system adapted to the market. It is developing in-depth by seizing the advantages in different areas to meet the market’s rapid change and the requirements of the State Bank of Vietnam and creating solutions to implement the strategy in which the CEO and the Board of Directors are required to pay special attention to the challenges within the 4th Industrial Revolution.
Meanwhile, the bank is strengthening its ability in predicting statistics, building backup plans to closely keep the eyes on the domestic and international economic situation and closely supervising and directing the Board of Directors in business activities. It is also guiding and overseeing the credit activities in accordance with the State Bank’s orientations and practical operations of TPBank in order to maximise the efficiency of credit quotas as notified by the State Bank, improve credit quality, control credit for risky areas as warned by the State Bank of Vietnam and maintain the NPL ratio and increase market share according to expected targets.
Additionally, TPBank is implementing the second phase of its digital transformation process: Digital Innovation. This strategy is aimed at increasing the proportion of active customers or those having accounts at TPBank to 70-80% and attracting corporate customers. The bank will also continue to promote the development of products and services for corporate customers, small and medium enterprises (SMEs).