Vietnam Technological and Commercial Joint Stock Bank (Techcombank) reported a profit before tax of VND 32.5 trillion ($1.2 billion) in 2025, up 18.2% year-on-year (YoY0, supported by stronger net interest income, recovering fees and disciplined cost management.

Techcombank ended 2025 with strong momentum, achieving record quarterly profitability in the foruth quarter of 2025 (4Q25). Performance was driven by accelerating net interest income, a sharp rebound in fee income, coupled to disciplined cost management. For the full year 2025, the bank recorded PBT of VND 32.5 trillion ($1.2 billion), up 18.2% YoY and exceeding full year guidance. This stellar performance, achieved amid ongoing global economic uncertainty, underscores the resilience and scalability of our business model and the underlying strength of Vietnam’s economy.

"In 2025, we accelerated our ecosystem strategy, expanding beyond banking to unlock new growth opportunities. The successful IPO and listing of Techcom Securities, together with the launch of Techcom Life and full-year operation of Techcom Insurance, strengthened our ability to serve customers end-to-end across banking, wealth management, capital markets, and protection. Techcombank is now a leading integrated financial institution in Vietnam. From this position of strength, we are embarking on a new five-year strategy that will see us continue to lead and shape the industry, deepen our ecosystem connectivity and create more value for our customers and shareholders,” said Jens Lottner, Techcombank CEO.

Income statement

• Net interest income (NII) reached VND 38.2 trillion ($1.4 billion) in FY25, up 7.5% YoY. Quarterly net interest margin (NIM) edged up to 3.9%, underscoring the bank’s strong deposit franchise and disciplined balance‑sheet management.

• Net fee income (NFI) reached VND 11.5 trillion ($437.7 million) in FY25, up 7.8% YoY. Performance by product type for FY25 was as follows:

✓ Investment banking (IB) fees (VND 4.2 trillion ($159.8 million), up 20.7% YoY): IB activities continued to deliver strong momentum, driven by all key business segments, including brokerage and custody services, bond advisory and distribution and other IB services. For 4Q25, IB fees reached VND 797.0 billion ($30.3 million), showing a reduction of 12.9% YoY. This slow-down seems mostly temporary, as trend and pipelines remain strong.

✓ Letters of Credit (LC), Remittance and Other cash & settlement (VND 3.1 trillion ($117.9 million), down 14.0% YoY): The decline incorporated the impact of product‑mix refinements relating to UPAS LC. However, Q4 saw a strong recovery for this business line, improving by 69.2% YoY and 33.8% QoQ, as the bank continued to introduce new solutions to better meet the ever-changing needs of customers and support sustainable growth in fee income. In 2025, cash and settlement alone reached VND 925.3 billion ($35.2 million), posing a 31.9% YoY growth.

✓ Cards (VND 1.7 trillion, ($64.7 million) down 15.1% YoY): Techcombank held the leading market share in Visa cards and delivered solid, broad‑based growth throughout 2025. Notably, the card franchise saw a 6.5% YoY and 20.7% QoQ uplift in 4Q25, reflecting the effectiveness of customer engagement with enhanced products and services that helped accelerate card spending. Cards have shifted from a purely fee-based product to an offering designed to attract and deepen customer engagement, thereby broadening cross‑selling opportunities.

✓ FX sales (VND 1.2 trillion ($45.6 million), up 36.9% YoY): FX business remained a standout performer in recent quarters, with 4Q25 revenue reaching VND 314.6 billion ($11.9 million), an increase of 14.6% YoY. This growth was attributable to an attractive FX product suite; particularly new offerings tailored to retail customers’ needs.

✓ Banca fees (VND 1.2 trillion [$45.6 million], up 91.8% YoY): Banca fees continued to deliver outstanding performance in 4Q25, surpassing the level recorded in the previous quarter and confirming the success of the new propositions introduced after the termination of the previous partnership in 4Q24.

• Net income from other activities excluding recoveries reached VND 2.4 trillion ($91.3 million) in FY25, compared with a loss of VND 291.7 billion ($11.1 million) in FY24 due to the one-off impact from the banca termination fee incurred in 4Q24.

• Recoveries increased by VND 1.4 trillion ($53.2 million) in FY25, up 19.0% YoY, proving the bank’s disciplined and effective debt collection efforts.

• Operating expenses amounted to VND 16.4 trillion ($624.1 million) in FY25, up 6.9% YoY, primarily driven by the bank’s continued investments in IT infrastructure to support long‑term growth. Cost-to-income ratio (CIR) stood at 30.8% for FY25.

• Provision expenses totalled VND 4.4 trillion ($167.4 million) for FY25, a slight increase of 8.3% YoY against an 18.36% increase in credit, highlighting the bank’s robust credit risk management. Credit cost (LTM) remained stable at 0.6%, and 0.4% after recoveries.

Balance Sheet

As of 31 December 2025, Techcombank’s total assets reached VND 1,192 trillion ($45.3 billion). At the bank-only level, credit grew steadily by 18.36% year-to-date (YTD).

• On a consolidated basis, strong credit demand came from both retail and corporate customers:

o Retail credit grew 30.8% YTD to VND 372.0 trillion ($14.1 billion) showing steady momentum across key segments: mortgage, unsecured lending, SME, margin lending, etc.

The bank continues its strategic shift to higher-yield lending products through expanding its unsecured lending book, with an exceptional growth at 3.5 times YTD and 24.2% QoQ. While mortgage expanded by 24.7% YTD, margin lending recorded a 69.3% growth since the beginning of the year.

o Corporate credit grew 13.4% YTD to VND 452.1 trillion ($17.2 billion). The share of loans to the real estate sector decreased to 30.7% on 31 December 2025, from 33.2% a year earlier. This reduction reflects the bank’s continued commitment to the diversification of its credit book exposures.

• Customer deposits expanded to VND 665.6 trillion ($25.3 billion), reflecting robust growth of 17.9% YoY and 4.2% QoQ. CASA accounted for 40.4% of total customer deposits, with CASA balances rising 16.6% YoY to VND 268.7 trillion ($10.2 billion). Retail CASA - including auto‑earning - advanced 17.7% YoY, while corporate CASA grew 14.8% YoY. Performance was underpinned by stronger customer engagement driven by auto‑earning 2.0 and an enhanced suite of merchant and payment propositions.

Liquidity and capital

• The bank maintained a strong funding position, with a regulatory loan-to-deposit ratio (LDR) of 76.5% as of 31 December 2025 – a significant decrease compared with 81.2% as at 3Q25-end, well below SBV regulatory requirement at 85%.

• Short-term funding to medium and long-term loan ratio stood at 24.6%, vs. 24.1% in the previous quarter.

• Capital adequacy ratio (CAR) continued to lead the market at 14.6% by the end of 2025 (down from 15.8% at the end of Q3), as the bank executed cash dividend payment of over VND 7 trillion ($266.4 million) to shareholders in October 2025.

Asset quality

• Asset quality remained solid, reflecting the bank’s disciplined and prudent risk approach. Problem loans (Groups 2–5) increased slightly by 4.4% YoY, well below the 19.5% YoY expansion in loans to customers.

• Non-performing loans (NPL) improved to 1.13%, from 1.23% in the previous quarter. Organic NPL, i.e. before credit bureau impacts, inched up slightly to 0.98% compared to 0.96% in 3Q25-end.

• Loan loss coverage ratio also saw a commendable improvement, reaching 127.9% in 2025, compared to 119.1% in the previous quarter. This marked the 9th consecutive quarter of the bank’s maintaining loan loss coverage ratio above 100%.

Techcom Securities leads the industry with record profit and unmatched capital strength

• Techcom Securities (HOSE: TCX) achieved a record profit before tax of VND 2,041 billion ($77.6 million) in 4Q25 alone, an increase of 120% YoY. In 2025, the cumulative profit reached VND 7,109 billion ($270.5 million), up 50% YoY, and achieving 123% of the full-year target.

• Following the company’s successful IPO and listing on the stock exchange in October 2025, TCBS became the securities company with the largest equity capital in the industry, while also achieving the highest capital efficiency in the market for the past 11 quarters, with a return on equity (ROE) of 16.7% and a return on assets (ROA) of 8.4%.

• In terms of securities brokerage and custody, brokerage market share maintained in the Top 3 on HOSE at 9.0% in 4Q25, whilst reaching Top 2 for the first time on HNX at 8.9%. Margin lending and advance payment business continued to lead the market, at nearly VND 44 trillion ($1.6 billion) by the end of 2025. Investment banking and bond and fund distribution segments sustained their leading positions, leveraging the comprehensive value chain and strong competitive advantages within the Techcombank ecosystem.

Techcom Life debuts with encouraging momentum

• Following the approval of its licence in July 2025, Techcom Life rapidly moved on to establish its operational and commercial foundation. Within just six months, the company successfully secured product approvals and introduced its first offerings.

• Early market validation came through a one‑month pilot in two key regions, which delivered encouraging results and highly positive customer feedback. Operational performance also stood out, with high‑value policies processed in under 30 minutes, on the back of streamlined workflows and seamless cross‑functional coordination.

• Alongside its commercial rollout, Techcom Life made substantial investments in advanced technology platforms, laying a scalable digital foundation to enhance operational efficiency and accelerate future product deployment. These early accomplishments position Techcom Life for strong and sustainable growth as the company prepares for nationwide expansion in the coming quarters.

Techcom Insurance marks a promising first year

• Techcom Insurance (TCGI) concluded its first full year of operations with positive results, following its official launch in late 2024, as an integral part of Techcombank’s financial ecosystem. In 2025, the company recorded over VND 500 billion ($19 million) in premiums and served more than 650,000 customers, reflecting strong engagement and support from customers.

• TCGI rapidly established a diverse non‑life insurance portfolio, covering key customer needs across health, motor, property and home, as well as solutions for businesses such as cargo, cyber, and liability insurance. This product suite is supported by TCGI’s digital capabilities and customer‑centric approach, creating a strong foundation for accelerated growth in the years ahead.

New customers and e-banking transactions

Techcombank closed 2025 with ~18.0 million customers, adding 2.7 million new customers YTD. Of the new-to-bank retail customers, 62.3% were acquired digitally, 30.2% via branches, and 7.5% through ecosystem partners.

The number of retail customer transactions through e-banking channels reached 1.2 billion during 4Q25, an increase of 26.9% YoY. With this performance, Techcombank maintained its #1 position in market share for both outbound (17.0%) and inbound (15.6%) transactions for 2025.

Fitch Ratings assigned Techcombank first time long-term issuer default rating of BB- with a ‘Positive’ Outlook

In November 2025, Fitch Ratings assigned Techcombank a first-time long-term issuer default ratings (IDR) of ‘BB-’ with a ‘Positive Outlook’, reflecting confidence in the bank’s robust financial capacity and sustainable growth strategy. Notably, Fitch highlighted Techcombank’s solid funding and liquidity position with a top tier ‘bb’ score, citing its solid deposit base with a “higher portion of low-cost deposits relative to the peer average” and ample liquidity buffers.

The 'Positive' outlook highlights Fitch’s confidence in Techcombank’s resilient balance sheet, robust funding profile, and prudent risk management framework, as well as the bank’s continued progress in diversifying its loan portfolio and maintaining stable asset quality across economic cycles.

Besides, Techcombank was recently upgraded by S&P Global Ratings to “BB” in August, reaffirming the bank’s robust capital base, effective risk management, and sustainable growth trajectory.

The 8th Techcombank Ho Chi Minh International Marathon was the largest marathon event ever held in Vietnam

The Techcombank Ho Chi Minh City International Marathon, held on 7 December 2025, concluded with outstanding success, officially becoming the marathon event with the largest number of participants in Vietnam. The race attracted over 23,000 athletes from 81 countries and territories, marking a 30% increase compared to the previous year. This is the highest participation in the history of this event, further affirming the race's appeal and its leading position in Ho Chi Minh City’s tourism and community sports landscape.

As part of this 8th season, Techcombank contributed over VND 9 billion ($342,531) to communities. In addition, Techcombank donated more than VND 4.2 billion ($159,847) to the “Cham Yeu Thuong” Fund, supporting life-changing medical care for children with disabilities. These efforts reinforce Techcombank’s commitment to creating purposeful, high-impact community initiatives across Vietnam.

For nearly a decade, Techcombank has been a partner in building a healthy lifestyle through the Techcombank Ho Chi Minh City International Marathon, spreading the spirit of "Running for a Greater Vietnam" and contributing to building a healthy, prosperous, and happy community.

TCBS official listing on HOSE and inclusion in the MSCI Global Standard Indexes solidified its position as Vietnam's leading WealthTech company

On 21 October 2025, over 2.31 billion TCBS (HOSE: TCX) shares were officially listed on HOSE at a reference price of VND 46,800 ($1.78) per share, bringing TCX's market capitalisation to over VND 108,000 billion (approximately $4.2 billion) on its first trading day.

This listing is among the first completed under Decree 245/2025/ND-CP, demonstrating the company's ability to implement quickly, adhere to high standards, and effectively coordinate with regulatory agencies, and the Stock Exchange.

Within just 10 trading days, TCX was added into the MSCI Global Standard Indexes –one of the most important foundational indices in the MSCI system, having met MSCI's stringent criteria for market capitalisation and liquidity, thus qualifying for early inclusion and reaching large-cap status within Frontier or even Emerging markets.

Techcombank cooperates with the Vietnam Tax Consultancy Association to support tax conversion for household businesses

With over five million household businesses nationwide entering a pivotal tax policy transition phase starting in 2026, Techcombank and the Vietnam Tax Consulting Association (VTCA) signed a strategic cooperation agreement on 27 December 2025, to implement communication programmes, provide tax knowledge consulting services to household businesses.

This initiative directly supports Resolution 68/NQ-TW, which seeks to build a transparent, professional, and sustainable household business environment. Through its systematic, customer-centric approach and strategic collaboration with the VTCA, Techcombank combines expert tax guidance with multi-channel including articles, podcasts, Q&A portals and local events to support customers.

By leveraging VTCA’s expertise and the innovative platforms, Techcombank reaffirms its commitment to accompanying Vietnamese businesses on their journey towards modernisation.

Re-disseminated by The Asian Banker