THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
No.: 60/2024/TPB.HDQT | Hanoi, July 30, 2024 |
DISCLOSURE OF INFORMATION ON THE STATE SECURITIES
COMMISION'S PORTAL AND THE HOCHIMINH STOCK
EXCHANGE'S PORTAL
To: - The State Securities Commission
- The Hochiminh Stock Exchange
- Name of organization: Tien Phong Commercial Joint Stock Bank
- Stock code: TPB
- Address: TPBank Building, No. 57, Ly Thuong Kiet Str., Tran Hung Dao Ward, Hoan Kiem District, Hanoi city
- Tel: 024. 3768 8998
- Fax: 024. 3768 8979
-
Submitted by: Mr. Le Quang Tien
Position: Vice Chairman
Information disclosure type: Periodic | Irregular | 24 hours | On demand |
Content of Information disclosure: Separate financial statements for the 2nd quarter of 2024 and Consolidated financial statements for the 2nd quarter of 2024.
Tien Phong Commercial Joint Stock Bank (TPBank) would like to explain the fluctuations in profit after tax compared to the same period in the Separate financial statement for the 2nd quarter of 2024 as follows:
TPBank's separate profit after tax in 2Q2024 was VND 1,523 billion, an increase of 17.79% compared to the same period in 2023.
Main reason:
Profit after tax in 2Q2024 reached VND 1,523 billion, an increase of VND 230 billion (equivalent to 17.79%) compared to 2Q2023. In which, the largest contribution to the bank's total profit still comes from Net interest and similar income and Net fee and commission income. In the second quarter of this year, TPBank's interest and service income achieved positive growth thanks to the expansion of customer base as well as the diversification and improvement of service quality of the Bank, specifically as follows:
- Net interest and similar income in 2Q2024 reached nearly VND 3,236 billion, an increase of nearly VND 322 billion over the same period (equivalent to an increase of 11.04%).
- Net fee and commission income in 2Q2024 reached more than VND 945 billion, an increase of nearly VND 327 billion over the same period (equivalent to an increase of 52.84%).
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In addition, thanks to the implementation of policies to optimize operating costs to increase profit margins, the Bank's operating expenses in 2Q2024 decreased by nearly VND 549 billion (equivalent to a decrease of 28.43%) compared to the same period in 2023.
The business situation of some operating segments in 2Q2024 of TPBank is as follows:
Unit: VND Million, %
No. | Items | 2Q2024 | 2Q2023 | +/- | % +/- |
1 | Net interest and similar income | 3,235,821 | 2,914,133 | 321,688 | 11.04% |
2 | Net fee and commission income | 945,328 | 618,503 | 326,825 | 52.84% |
3 | Net gain/(loss) from trading of | 661 | 162,589 | -161,928 | -99.59% |
foreign currencies | |||||
4 | Operating expenses | 1,381,779 | 1,930,622 | -548,843 | -28.43% |
5 | Profit before tax | 1,904,482 | 1,618,437 | 286,045 | 17.67% |
6 | Profit after tax | 1,523,166 | 1,293,105 | 230,061 | 17.79% |
This information was disclosed on TPBank's Portal on July 30, 2024 available at https://tpb.vn/eng/nha-dau-tu/bao-cao-tai-chinh.
I declare that all information provided in this paper is true and accurate; I shall be legally responsible for any mispresentation.
Recipient: | Organization representative |
Person authorized to disclose information | |
- As above; | VICE CHAIRMAN |
- Archived by BOD Office.
(Signed and sealed)
Le Quang Tien
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