Sunday, 17 October 2021

Techcombank leads Vietnam’s investment market with 63% share of funds

5 min read

By The Asian Banker

  • Techcombank leads the domestic investment market with 63% share of funds
  • TCWealth completed 200 investment plans worth $77.9 million 
  • The bank holds 70% share of Vingroup’s projects, Vietnam’s largest real estate developer 

8 April 2021, Hanoi – Techcombank was recognised for Best Mortgage Product and Best Investment Product in Vietnam at the Vietnam Awards 2021 presented by The Asian Banker.

Techcombank had 63% share of domestic investment market 

The bank’s Techcom Bond Fund (TCBF) became the largest domestic investment fund with a total net asset value (NAV) of $1 billion. This accounted for 63% of the market share of domestic funds in the investment market in Vietnam. In addition, the distribution volume of iFund of Techcom Securities, a subsidiary of Techcombank, reached more than $1.1 billion in 2020 that increased by 36% compared to 2019. The bank has also distributed more than $1.47 billion of corporate bonds in 2020 that increased by 21% compared to 2019. 

TCWealth completed 200 investment plans worth $77.9 million 

The bank launched TCWealth and completed nearly 200 investment plans that totalled more than $77.9 million. The bank’s robo-advisor was designed to replace the bank’s relationship manager. It helps customers plan long-term investment through a deep and wide range of personal financial management tools. The bank has leveraged new technologies and streamlined operations to provide consumers with a frictionless experience. In addition, the bank implemented iConnect - the first system in the country that allows direct bond trading between individual investors and customers. 

The bank holds 70% share of Vingroup’s projects 

The bank holds 70% of wallet share in Vingroup’s projects, the largest real estate developer in the country. The bank has the lowest non-performing loan (NPL) rate of 0.54% and its BankQuality Score of 101.52 in 2020 was the highest among its peers. In addition, its cost-to-income ratio (CIR) of 10% in the mortgage business is comparatively lower than other competitors which have reported CIR of above 30%. Moreover, the bank has one of the largest market share with 8%. In 2020, the bank reported its retail loan products contributed approximately10% to its total operating income. 

Dang Cong Hoan,  deputy chief of retail banking group, Techcombank, in his acceptance speech said, “Techcombank has leveraged new technologies and streamlined operations to provide customers with a frictionless experience. The bank is focused on meeting the emerging home financing needs of consumers in Vietnam. In addition, its ‘TCWealth’ solution is designed to meet the long-term investment objectives of customers through a deep and wide range of personal financial management tools”.

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com 

You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/

For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Email: mkazmi@theasianbanker.com 



Region: Asia Pacific
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