Tien Phong Commercial Joint Stock Bank
About the Issuer
Established in 2008, TPBank is a mid-sized privately-owned commercial bank focusing on retail and small and medium enterprises (SME) customers. The bank’s early digitalization efforts have supported its strategic growth across the country. In 2017, TPBank launched “LiveBank 24/7”– the first automated bank in Vietnam, and now maintains a wide and growing network of transaction points to serve existing and acquire new customers.
Rating Results
Credit Opinion
The bank exhibits a significant improvement in its asset quality and loss absorption buffer
(1) there is material deterioration in its asset quality through continued increases in either the formation rate of new problem loans or credit concentration in high-risk segments and/or large borrowers; or
(2) the bank’s loss absorption capacity weakens substantially, for example its TCE/ RWA falls below 9% or its ROAA falls below 0.7%; or
(3) we view the bank’s vulnerability to liquidity risks increases through further increases in reliance on short-term market funds and insufficient liquid assets to serve as a liquidity buffer.
(1) track record of success in strengthening and maintaining its low-cost deposit funding base, largely supported by its digital capabilities;
(2) Strong profitability given strategic focus on higher-yielding customer segments coupled with robust credit growth and a strong funding profile
(1) rising problem loans from retail and SME borrowers;
(2) Credit concentration to large corporate borrowers and vulnerability to large single-name credit events and sizable credit losses
Issuer analysis reports
Rating Results
Second Party Opinion
List of Second Party Opinions (SPO) published by VIS Rating for TPB.
VIS Rating has not issued a Second Party Opinion for this company
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