Friday, 22 September 2023

Techcombank delivers resilient growth despite headwinds

5 min read

Hanoi, 30 January, 2023 - Vietnam Technological and Commercial Joint Stock Bank (“Techcombank” or the “Bank”) today announced resilient financial results for FY22 despite a more challenging environment in the last quarter of the year. 


  • PBT of VND 25.6 trillion – up 10.0% YoY
  • TOI of VND 40.9 trillion – up 10.3% YoY
  • 37% CASA ratio
  • High Basel II CAR at 15.2% and sector-leading ROA of 3.2%

“Techcombank closed an eventful year with a profit before tax of VND 25.6 trillion, adding +10% of earnings growth on top of the +47% delivered in FY21. The Bank showed resilience against adverse factors impacting its key lines of business, including a 200bp interest rate hike in the fourth quarter, local currency depreciation and investigations into the bond and real estate markets. While we expect this volatility to continue for a couple of quarters, we remain confident in our growth momentum and the distinctive strength of our assets and liquidity position.   

During 4Q22, we grew our deposits by +12% QoQ and acquired 373,000 new clients, while keeping the bank’s NPL and CAR ratios at healthy levels. We announced a multi-year partnership with Adobe to become the first Vietnamese bank to deliver hyper-personalised customer experiences. Our popular mega lucky-draw campaign, and partnerships with the HCMC and Hanoi marathons, further strengthened our engagement with customers and helped us finish the year with an industry-leading net promoter score.”

Re-disseminated by The Asian Banker


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