TPB: Explanation for the financial statements in 2022

Tien Phong Commercial Joint Stock Bank explained the fluctuations of profit after tax compared to the same period according to the audited financial statements in 2022 as follows: Profit after tax in 2022 was 6,261 billion dongs, increased by 30% compared to the same period of 2021. Reason: Profit after tax in in 2022 reached 6,261 billion dongs, increased by 1,431 billion dongs (equivalent to 30%) compared to 2021. In which, net profit income was the main contribution to the business result in 2022 with 11,386 billion dongs, increased by 1,440 billion dongs compared to 2021. In addition, the credit risk provision expenses in 2022 decreased by 1,065 billion dongs compared to 2021, showing that TPB has controlled better credit risk from customers and increasing the bank profit while ensuring the provision in accordance with regulations of the State Bank of Vietnam. Unit: million dongs, % No. Items 31.12.2022 31.12.2021 +/- % +/- 1 Net profit income 11,386,597 9,946,049 1,440,548 14% 2 Profit/loss from services activities 2,691,980 1,542,466 1,149,514 75% 3 Profit/loss from foreign exchange business activities 410,216 373,374 36,842 10% 4 Profit/loss from other activities 702,141 245,777 456,364 186% 5 Credit risk provision expenses 1,843,644 2,908,490 -1.064,846 -37% 6 Profit before tax 7,828,288 6,038,222 1,790,066 30% 7 Profit after tax 6,260,744 4,829,179 1,431,565 30%