TPBank increases deposits to the State Bank and lends to credit institutions, 6 and a half times the interest in the same period

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According to the financial statements of the second quarter, TPBank (HoSE: TPB) recorded a net interest income of 2,526 billion dong, up 43% over the same period in 2020. Income from services increased by 159% to 412 billion dong. Investment securities trading also brought in 280 billion dong, up 61%. Particularly, foreign exchange activities decreased by 43% to 159 billion dong.

After deducting operating expenses in the period, which increased by 26% to VND 1,237 billion, the bank made pre-earnings of VND 2,197 billion, an increase of 50% compared to the second quarter of 2020. Provision expense increased 39% to 1,584 billion dong.

At the end of the second quarter, the bank’s profit before tax was VND 1,584 billion, an increase of more than 50% compared to the same period in 2020. Accumulated in 6 months, this figure was VND 3,006 billion, up 50%, equivalent to 52% of the plan.

Bank profits before tax increased by 50% compared to the first half of 2020. Photo: TPBank.

By the end of June, total assets were 242,254 billion VND, an increase of 17% compared to the end of 2020. Loans to customers increased by 10%, to 130,203 billion VND. Bad debt was at VND 1,519 billion, up 7% and accounting for 1.1% of the structure. Particularly, sub-standard debt is more than VND 871 billion, up 32%, accounting for 57% of bad debt. The NPL coverage ratio stood at 144%, up from 134% at the end of last year.

Outstanding loans are concentrated in the field of household work, production of physical products and self-consumption services, accounting for 51% of total loans, equivalent to VND 67,745 billion. Following is the manufacturing and processing industry, accounting for 9.53% with nearly VND 12,596 billion. Some fields with outstanding loans accounting for 4-5% can be targeted such as agriculture, electricity production and distribution, construction, transportation and warehousing.

Money and gold deposited at and lent to other credit institutions nearly doubled compared to the end of 2020, at VND 24,762 billion. Deposits at the State Bank also increased by 80% to 16,421 billion dong.

Customer deposits at TPBank are more than VND 132,070 billion, up nearly 14%. Demand deposits accounted for 18%, equivalent to 23,269 billion VND. The bank has accumulated undistributed after-tax profit of more than 7,898 billion dong, in addition to the fund of credit institutions of nearly 1,400 billion dong.

Source: – Translated by