TPBank

Dec 26, 2022

Vietnam’s TPBank Sees 2023 Profit Jump, in Foreign Loan Talks Investor Focus on Inflation Path, China Covid Woes: Markets Wrap China’s Economy Is Showing Increasing Strain From the Covid Tsunami Ukraine Latest: Air Raid Alerts Sound on Russian Jet Activity Colombia Central Bank Chief Says Interest Rate Hikes Near an End Russia May Raise Crude Oil Exports if EU Ban Cuts Refining ECB’s Schnabel Says Rates Need to Reach ‘Restrictive Territory’ U.S. stocks snap two days of gains; dollar rises U.S. stocks rally for a second day; Treasuries mixed Power Outages, Flight Delays as US Storm Leaves Chaos Behind Elon Musk Warns Against Margin Debt on Risk of Market ‘Mass Panic’ Oil Passes Natural Gas as Main Fuel for Power Plants in New England New England Grid Asks Members to Voluntarily Curtail Power Usage The FTX Trade That’s Tempting Oaktree and Baupost: Credit Weekly PJM Leans on Consumers to Keep Power Grid Stable Into Christmas US Declares Texas Grid Emergency in Arctic Blast Winter Storm Is Freezing Pipes and Hammering Natural Gas Output Tennessee Titans Delay NFL Game Due to Power Outages Social Media Buzz: FTX, Paris, Christmas Freeze, Santa Tracker Tennessee Valley Authority Orders New Round of Rolling Blackouts High interest rates breathe new life into TFSA ​Bankruptcy: Experts explain how to rebuild credit How to pay down debt quickly according to the experts Experts share tips for young Canadians finding themselves in debt for the first time 4 key dates for investors to mark in their 2023 calendars Inflation: From missing family time to making food, Canadians are cutting back Market misery could lay groundwork for a bright 2023: Dale Jackson Budgeting for the first time amid soaring inflation? Here are some tips Consumer debt tops $2.36 trillion in third quarter, up 7.3% from last year Canadians look to side hustles to make up for inflation pressure, but at what cost? Cybersecurity tips for online holiday shopping Over half of Canadians plan to spend less on Christmas plans: Survey Will groceries be cheaper in 2023? Here's what a report found Need to tap into your investments? Beware of tax traps 4 reasons for thrift store gifts this year GICs and crypto in epic tug-of-war for young investors: Dale Jackson 32% of Canadians unaware standard home insurance policies lack flood protection: Survey  How the elimination of interest on federal student loans could give graduates a boost Recession: Majority of Canadians think we’ll enter one soon, survey finds US Embassy Warns of Possible Attack on Islamabad Marriott Hotel Charting the Global Economy: BOJ Shocks; US Inflation Cools Pound’s Tentative Recovery Masks Worst Year Since Brexit Vote A Heroic End to Bonds’ Villainous Year Spurs Hope for Treasury Investors US Inflation Continues to Ease, But Wages Will Keep Fed on Alert US New-Home Sales Unexpectedly Increase for a Second Month Elon Musk, Liz Truss and Butter Boards: Things That Shocked Us In 2022 Singapore Rents Forecast to Rise at Slower Pace Next Year US Mortgage Rates Drop for Sixth Straight Week, Falling to 6.27% Trudeau Finds Surer Footing After Riding Out Protests and Inflation Japan Homebuyers to Get Clue on Higher Mortgages After BOJ Jolt The 13 Most Exciting European Hotels Opening in 2023 China Developers’ Recovery After $74 Billion Rout Faces Covid Turmoil Hong Kong Property Giant Buys Land for Price at Eight-Year Low China State Council, PBOC Vow to Boost Growth, Property in 2023 India Mulls Rules for Quicker Resolution of Builders’ Insolvency Covid Surge Hits Shanghai With Crowded Hospitals, Empty Streets Hong Kong’s Tiniest Apartments Take Biggest Hit in Housing Slump Chicago Mayor Turns to CEOs for Support in Tough Reelection Bid OCBC Said to Hire Ex-Goldman’s Jason Moo as its Private Bank CEO China’s Economy Is Showing Increasing Strain From the Covid Tsunami Ukraine Latest: Air Raid Alerts Sound on Russian Jet Activity ‘Avatar 2’ Gains $56 Million in Storm-Challenged Second Weekend US Embassy Warns of Possible Attack on Islamabad Marriott Hotel News Corp. 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Rises on Report of Bloomberg’s Interest in Dow Jones, Washington Post Palo Alto’s Zuk Gets Go-Ahead to Found New Israeli Digital Bank Nio CEO Warns of Sales Challenges in First Half on China Demand The FTX Trade That’s Tempting Oaktree and Baupost: Credit Weekly Chinese EV Maker Nio Launches New Models, Upgraded Battery Swaps Social Media Buzz: FTX, Paris, Christmas Freeze, Santa Tracker Musk Says Twitter to Allow Users to Turn Off View Count Feature UK May Mull Crackdown On Gambling Ads to Curb Addiction Sequoia-Backed Wave Takes on Telcos in Africa Mobile-Money War HK Police Arrest Two Men in Crypto Exchange AAX-Related Case Spending Scandal at Philippine Phone Giant Had Roots in Ambition Ivanka Trump Testified Father’s Call With Pence Saddened Her Finance’s Biggest Winners and Losers in Washington During 2022 Bankman-Fried Judge Recused Because Husband’s Firm Advised FTX Amazon Is Trying to Fill Empty Space on Its Air Cargo Flights as Consumer Demand Cools Alameda's former CEO Ellison said she, Bankman-Fried misled FTX lenders IRS Delays $600 Tax Reporting Rule for Venmo, Etsy Sellers Crypto Is ‘Effectively Nonexistent’ for Big Institutions, JPMorgan’s Gross Says The U.S. Fed is failing in four ways: Mohamed A. 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Such technology has helped the lender reduce about 30% of its operational costs, he added. TPBank, with about 95% of its transactions processed digitally, is the first Vietnamese lender to adopt so-called Live-Bank, a video-teller-machine system that allows clients to deposit or transfer money, and open instant credit cards with facial and fingerprint authentication. With 500 such machines across the country, TPBank expects to increase its number of customers to 10 million next year from about 8 million this year, according to Hung. “Having these live-bank machines is so critical as it helped us quicken the reallocation of our resources for new business model and expand profits,” Hung said, adding that the bank has reassigned about 800 employees from routine clerical works to “more creative and profitable jobs.” Known as TPBank, the lender is also in talks with “some foreign partners” as it seeks ways to fund an expansion next year amid growing interest from overseas investors, Hung said without elaborating. It currently has $150 million of loans from Asia Development Bank and IFC. Vietnamese lenders and companies are looking for alternative ways to attract foreign capital for growth after authorities’ recent crackdown on corporate bond market has made it difficult for them to sell debt onshore. Hung also expects TPBank’s total assets to rise at least 14% next year. ©2022 Bloomberg L.P.