Information about the Company & Brand
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.
TPBank always exerts all its strength to bring the most effective solutions and banking products, targeting young and dynamic customers. TPBank has successfully applied a virtual assistant named T'aio with AI artificial intelligence and Machine Learning technology, voice and fingerprint customer identification system, etc. All these outstanding products have helped TPBank become the No. 1 bank with a diversified and outstanding digital banking ecosystem in Vietnam.
Brand Elements
With a focus on retail banking, TPBank's credit grew steadily during the year with outstanding loans reaching over VND 132 trillion. In addition, the bank's credit quality has always been guaranteed and the non-performing loan (NPL) ratio is low at 1,17%. In 2020, TPBank ranked in the Top 70 best retail banks in Asia and one of the four best retail banks in Vietnam as voted by The Asian Banker.
Furthermore, TPBank has gained a total number of nearly 4 million customers. With the slogan “A deeper understanding”, TPBank wants to put customers at the heart of its business, based on customer needs to build leading service quality. Understand to share; understand to accompany customers, to create the best and the most suitable products and services, to bring the highest added value to its customers.
A deeper understanding
Inspiring Identity
In 2012, TPBank targeted the Millennials and Generation Z as its key customers as these are the golden population in the economy who loves technology and have the power to spread trends or new technologies across the market. Therefore, TPBank immediately embarked on a comprehensive strategy focusing on digital transformation.
By implementing a digital transformation strategy from the inside out, TPBank has successfully enhanced its efficiency, optimising operating expenditure and opening business opportunities. Today, the bank’s information technology (IT) infrastructure provides straight-through processing and a unified interface for its customers.
In 2017, TPBank officially launched the 24/7 automatic transaction point system, TPBank LiveBank, that set a new milestone for the development of the bank. TPBank also deployed a self-service Video Teller Machine in the LiveBank to achieve account opening, card issuance, cash deposit, cash withdrawal with fingerprint and face ID, managing to be the first bank in Vietnam that realise remote account opening and cardless transaction. The inventive solution not only opens up the business but also saves costs tremendously. The operational cost of LiveBank is only 28% of the traditional branch, and the transaction cost is cut down by 75%.
Achievements & Impact
By the end of 2020, the total assets of TPBank were more than VND 206 trillion, increasing by 95% compared to the end of 2016. Its total capital mobilisation reached nearly VND 185 trillion in which capital structure and capital use was 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 NPL ratio 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 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.
TPBank is also improving its ability in predicting statistics and building backup plans to closely keep the eyes on the domestic and international economic situation. It is guiding and overseeing the credit activities in accordance with the State Bank's orientations and practical operations. TPBank aims to maximise the efficiency of credit quotas and improve credit quality, control credit for risky areas and maintain the NPL ratio and increase market share.
Additionally, TPBank is implementing the second phase of its digital transformation process: Digital Innovation, which seeks to increase the proportion of active customers or those having accounts at TPBank to 70-80% and attract corporate customers. The bank will also continue to promote the development of products and services for corporate customers, small and medium enterprises (SMEs).
INSPIRATIONAL BRAND CATEGORY
Tien Phong Commercial Joint Stock Bank (TPBank)
Information about the Company & Brand
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.
TPBank always exerts all its strength to bring the most effective solutions and banking products, targeting young and dynamic customers. TPBank has successfully applied a virtual assistant named T'aio with AI artificial intelligence and Machine Learning technology, voice and fingerprint customer identification system, etc. All these outstanding products have helped TPBank become the No. 1 bank with a diversified and outstanding digital banking ecosystem in Vietnam.
Brand Elements
With a focus on retail banking, TPBank's credit grew steadily during the year with outstanding loans reaching over VND 132 trillion. In addition, the bank's credit quality has always been guaranteed and the non-performing loan (NPL) ratio is low at 1,17%. In 2020, TPBank ranked in the Top 70 best retail banks in Asia and one of the four best retail banks in Vietnam as voted by The Asian Banker.
Furthermore, TPBank has gained a total number of nearly 4 million customers. With the slogan “A deeper understanding”, TPBank wants to put customers at the heart of its business, based on customer needs to build leading service quality. Understand to share; understand to accompany customers, to create the best and the most suitable products and services, to bring the highest added value to its customers.
A deeper understanding
Inspiring Identity
In 2012, TPBank targeted the Millennials and Generation Z as its key customers as these are the golden population in the economy who loves technology and have the power to spread trends or new technologies across the market. Therefore, TPBank immediately embarked on a comprehensive strategy focusing on digital transformation.
By implementing a digital transformation strategy from the inside out, TPBank has successfully enhanced its efficiency, optimising operating expenditure and opening business opportunities. Today, the bank’s information technology (IT) infrastructure provides straight-through processing and a unified interface for its customers.
In 2017, TPBank officially launched the 24/7 automatic transaction point system, TPBank LiveBank, that set a new milestone for the development of the bank. TPBank also deployed a self-service Video Teller Machine in the LiveBank to achieve account opening, card issuance, cash deposit, cash withdrawal with fingerprint and face ID, managing to be the first bank in Vietnam that realise remote account opening and cardless transaction. The inventive solution not only opens up the business but also saves costs tremendously. The operational cost of LiveBank is only 28% of the traditional branch, and the transaction cost is cut down by 75%.
Achievements & Impact
By the end of 2020, the total assets of TPBank were more than VND 206 trillion, increasing by 95% compared to the end of 2016. Its total capital mobilisation reached nearly VND 185 trillion in which capital structure and capital use was 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 NPL ratio 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 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.
TPBank is also improving its ability in predicting statistics and building backup plans to closely keep the eyes on the domestic and international economic situation. It is guiding and overseeing the credit activities in accordance with the State Bank's orientations and practical operations. TPBank aims to maximise the efficiency of credit quotas and improve credit quality, control credit for risky areas and maintain the NPL ratio and increase market share.
Additionally, TPBank is implementing the second phase of its digital transformation process: Digital Innovation, which seeks to increase the proportion of active customers or those having accounts at TPBank to 70-80% and attract corporate customers. The bank will also continue to promote the development of products and services for corporate customers, small and medium enterprises (SMEs).