TPBank set profit target of VND2.2 trillion in 2018
TPBank set pre-tax profit in 2018 of VND2.2 trillion (US$96.2 million), up 82.42% compared to 2017, said in the bank`s document prepared for annual general meeting.
The lender also expected its return on equity (ROE) to exceed 20% for the first time.
TPBank set profit target of VND2.2 trillion in 2018.
|
During the 4 years period from 2012 - 2016, TPBank's total assets have been maintained high growth rate of 40% per year, taking its worth in 2012 from VND15.1 trillion (US$661.3 million) to VND105.7 trillion (US$4.6 billion) in 2016, a 7-fold increase.
Total capital mobilization in 5 years reached VND49.7 trillion (US$2.17 billion), equivalent to a growth rate of 72% and reaching VND69 trillion (US$3 billion) as at December 31, 2015.
In 2017, TPBank has exceeded its financial targets set by the shareholders with profit at VND1.2 trillion (US$52.5 million), 155% higher than the year plan. Its total assets worth over VND124 trillion (US$5.43 billion), while bad debt is kept at 1.08%
TPBank on March 23 announced its intention to list shares on the Ho Chi Minh Stock Exchange (HoSE) on the second quarter of 2018.
In the Over-the-counter (OTC) market, TPBank's share is traded around VND30,000 (US$1.32) apiece.
Following the equitization plan, TPBank will issue 87.63 million shares, equivalent to 15% of its current charter capital. Specifically, TPBank expects to sell the maximum of 55.29 million shares (8.23% charter capital) to foreign investors, and 32.34 million shares to domestic investors.
Last December, Finish independent fund management company PYN Fund Management also completed its acquisition of a 4.99% TPBank's stake for US$40 million, marking the largest investment it has made in Vietnam.
The deal also marked the Asia-focused PYN Elite Fund's first investment in a Vietnamese bank. With a total portfolio value of EUR417 million (US$515.3 million), PYN Elite Fund is now the third largest foreign investment fund in Vietnam, according to TPBank.
In addition to TPBank, 8 other banks are expected to list their shares in 2018, namely Techcombank, MaritimeBank, SeABank, OCB, ABBank, SaigonBank, Nam A Bank and Viet A Bank.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
- IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
- Vietnam's credit growth up 10% in 10 months
- Building Hanoi's smart city with smart banking
- Vietnam stock market clears major legal hurdle to potential upgrade
- Cashless parking in Hanoi: Good model fuels smart transport