Tien Phong Commercial Joint Stock Bank (TPBank - stock code: TPB) has been fined VND 92.5 million (approx. USD 3,630) by the State Securities Commission (SSC) for administrative violations related to delays in registering and depositing two privately issued bond codes.

The SSC’s Chief Inspector has authorized the penalty and designated Mr. Do Minh Phu, TPBank’s legal representative, to comply with the decision.

According to the official announcement, TPBank failed to meet the legally required deadlines for registering and depositing bond codes TPBL2434009 and TPBL2434029 with the Vietnam Securities Depository and Clearing Corporation (VSDC).

The decision highlighted that TPBank had committed administrative violations multiple times - a factor considered an aggravating circumstance in the penalty.

TPBank is required to pay the fine to the State Treasury within 10 days of receiving the decision.

Founded in 2008, TPBank has been listed on the Ho Chi Minh City Stock Exchange (HoSE) since 2018. The bank operates 58 branches and 74 transaction offices, with its headquarters at 57 Ly Thuong Kiet Street, Hanoi.

TPBank’s major shareholders include Doji, FPT, and SBI Ven Holding. In 2024, the bank reported a pre-tax profit of nearly VND 7.6 trillion (USD 298 million), up 36% from 2023.

In Q1/2025, TPBank posted total operating income of VND 4.5 trillion (USD 176 million), with net interest income contributing VND 3.38 trillion (USD 132 million). Pre-tax profit for the quarter reached over VND 2.1 trillion (USD 82 million), marking a year-on-year growth of over 15%.

As for the two privately issued bond codes in question:

TPBL2434009 was issued on August 23, 2024, with a 10-year term and a total value of VND 384 billion, offering an interest rate of 6.68% per annum.

TPBL2434029 was issued on December 10, 2024, also with a 10-year term and valued at VND 200 billion, offering a 7% interest rate.

Recently, TPBank’s stock (TPB) experienced a significant drop. From VND 17,000 per share in mid-February, it fell below VND 12,000 before rebounding to VND 13,200 in the morning session on April 18.

Mr. Do Minh Phu currently serves as Chairman of the Board of Directors at TPBank, while his brother, Mr. Do Anh Tu, is also a key figure in the banking sector.

Manh Ha