Tien Phong CommercialBank : 20/07/2023 - Financial statement of Quarter II - 2023 with explanation
July 20, 2023 at 07:32 am EDT
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
No.: 100/2023/TPB.HDQT
Hanoi, July 20, 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 2nd quarter of 2023.
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 2nd quarter of 2023 as follows:
Profit after tax in Q2.2023 was VND 1,293 billion, down -25.27% compared to the same period of 2022.
Reason:
Profit after tax in Q2.2023 reached VND 1,293 billion, down VND 437 billion (equivalent to 25.27%) compared to Q2.2022. In which, the largest contribution to the Bank's total profit still comes from Net interest income with a value of VND 2,729 billion, followed by Net fee and commission income with a value of nearly VND 804 billion.
TPBank's net fee and commission income in Q2.2023 reached nearly VND 804 billion, an increase of VND 123 billion (equivalent to 18% growth) compared to Q2.2022. This result achieved by the expansion of the customer base as well as the diversification and increase in service quality of the Bank. The Bank's bond business has been profitable since the Q2.2023, reaching nearly VND 238 billion thanks to TPBank's buying and selling activities when market conditions became more favorable. Therefore, TPBank has recorded a large income from investment securities trading in Q2.2023, however, there is still a slight decrease compared to the same period. In the context of economic fluctuations and difficulties, lending interest rates
1
tend to decrease while long-term deposit rates are still relatively high, causing interest expenses to increase sharply in the first half of 2023, then, Net interest income in Q2.2023 decreased by VND 306 billion (equivalent to a decrease of 10%) compared to the same period.
The business situation of some operating segments at TPBank in Q2.2023 is as follows: Units: VND million, %
No.
Items
Q2.2023
Q2.2022
+/-
% +/-
1
Net
interest
and
similar
2,729,027
3,034,868
-305,841
-10.08%
income
2
Net
fee and
commission
803,609
680,625
122,984
18.07%
income
3
Net gain/(loss) from trading
162,589
179,143
-16,554
-9.24%
of foreign currencies
4
Net gain/(loss) from trading
237,697
460,137
-222,440
-48.34%
securities
5
Profit before tax
1,618,437
2,164,683
-546,246
-25.23%
6
Profit after tax
1,293,167
1,730,465
-437,298
-25.27%
This information was disclosed on TPBank's Portal on July 20, 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:
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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TienphongBank - Tienphong Joint–Stock Commercial Bank published this content on 20 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2023 11:31:09 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.