Techcombank was awarded Best SME Bank and Best Home Loan Product at The Asian Banker Vietnam Awards 2020
- Techcombank solidified its position as a one-stop solutions provider for SMEs in Vietnam with a value chain-focused strategy and business model
- The bank strengthened its SME engagement through its offline and online footprint
- The bank’s unique home loan solutions were able to boost customer acquisition and satisfaction
Hanoi, 9 April 2020 – Techcombank received Best Retail Bank, Best Credit Card Product and Best Mobile Banking App at The Asian Banker Vietnam Awards 2020.
Techcombank solidified its position as a one-stop solutions provider for SMEs in Vietnam with a value chain-focused strategy and business model
Techcombank leveraged on deep customer insight to address the evolving needs of small and medium-sized enterprises (SMEs), which led to a strong income and profit growth for the bank in 2019. It targeted the six consumption-led economic sectors that contributed to almost half of the country’s gross domestic product and introduced a campaign with a loan amounting to more than $200,000 (VND 5,000 billion) with preferential rate up to 1% annually. The move also improved the efficiency of the bank’s credit processes with loan disbursement and issuance of letter of credit being achieved within two and a half hours and three hours, respectively. As a result, Techcombank saw a 40% increase in lending and trade finance balances while maintaining a prudent non-performing loan ratio.
The bank strengthened its SME engagement through its offline and online footprint
Among Techcombank’s growing footprint of over 300 branches, the bank enabled a dedicated business unit focused on SMEs and mid-corporate businesses through 43 dedicated branches. It also made a great stride in empowering its frontline staff with financial advisory capabilities to provide both lending and non-lending products to SMEs. In 2019, the bank increased its SME accounts and current account savings account deposits by a double-digit rate. Techcombank continued to upgrade its Fast E-Bank online banking platform to improve customer experience in terms of speed, convenience, efficiency and security. It introduced Overseas Remittance embedded Foreign Currency Exchange with enhanced functionalities to support customer internal control and risk management. By the end of 2019, the bank successfully tripled the volume of digital transactions and doubled the value of transactions.
The bank’s unique home loan solutions were able to boost customer acquisition and satisfaction
Techcombank was able to differentiate itself from its competitors in the mortgage market by curating flexible home loan solutions based on a deep understanding of its customers and addressing their needs such as longer loan tenor of up to 35 years, flexible payment schedules, diversified interest rate packages and pre-approved credit limit. It utilises an end- to-end value-chain approach and closely works with the country’s leading property developers. As such, the bank has secured majority of the wallet share of Vingroup in Vietnam and has generated a robust growth in new customer acquisition and loan book.
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Visit The Asian Banker Vietnam Awards 2020 official page at Finance Vietnam 2020
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Region: Asia Pacific