Tien Phong CommercialBank : 19/01/2023 - 4th quarter of 2023 financial statement with explanation
January 19, 2023 at 06:01 am EST
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
No.: 07/2023/TPB.HDQT
Hanoi, January 19, 2023
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
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: Financial Statements for the 4th quarter of 2022.
Tien Phong Commercial Joint Stock Bank (TPBank) would like to explain the fluctuations in profit after tax compared to the same period in Financial Statements for the 4th quarter of 2022 as follows:
Profit after tax in Q4.2022 was VND 1,519 billion, up 15.6% compared to the same period of 2021.
Reason:
Profit after tax in Q4.2022 reached VND 1,519 billion, an increase of VND 205 billion (equivalent to 15.6%) compared to Q4. 2021. In which, the main contribution to the profit result of Q4.2022 is still net interest income with the result of 2,780 VND billion, down VND 30 billion YoY due to the deposit interest rate at the end of 2022 upward trend. Net fee and commission income reached VND 816 billion, an increase of VND 326 billion YoY. In 2022, inflation on a global scale causes the foreign currency rate to go up, affecting TPBank's foreign exchange business. In Q4.2022, TPBank's foreign currency business results reached VND 80 billion, down VND 180 billion YoY. In addition, the cost of provisioning for credit losses in Q4.2022 decreased by VND 445 billion YoY, showing that TPBank has better controlled credit risk from customers, increasing profits for the bank but always ensure to make provision in accordance with regulations of the State Bank of Vietnam.
The business situation of some operating segments at TPBank in Q4.2022 is as follows:
1
Units: VND million, %
No.
Items
Q4.2022
Q4.2021
+/-
% +/-
1
Net
interest
and
similar
2,779,678
2,810,324
- 30,646
- 1.09%
income
2
Net
fee and
commission
816,174
489,876
326,298
66.61%
income
3
Net gain/(loss) from trading
80,482
260,820
- 180,338
- 69.14%
of foreign currencies
4
Provision expenses for credit
114,564
559,570
- 445,006
- 79.53%
losses
5
Profit before tax
1,902,743
1,644,591
258,152
15.70%
6
Profit after tax
1,519,328
1,314,222
205,106
15.61%
This information was disclosed on TPBank's Portal on January 19, 2023 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:
As above;
Archived by BOD Office.
Organization representative
Person authorized to disclose information
VICE CHAIRMAN
(Signed and sealed)
Le Quang Tien
2
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TienphongBank - Tienphong Joint–Stock Commercial Bank published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 11:00:02 UTC.
Tien Phong Commercial Joint Stock Bank is a Vietnamese-based bank engaged in the provision of banking and finance solutions. Its businesses include retail banking, corporate banking and others. Its retail banking business include saving accounts, loans, credit cards, debit cards, money transfer and other services. Its corporate banking business include account management, deposit, loan and finance, inter settlement, domestic settlement, guarantee and treasury services. It also provides online banking service.