Transactions at Techcombank (Photo courtesy of the bank)The bank continues to lead the market with a healthy 3.5 percent return onassets (ROA) for the twelve months ending March 31, 2021. Capital position remainsrobust with Basel II CAR of 15.8 percent at quarter end.
“Our robust first quarter performance built on the strong momentum from thefourth quarter of 2020. We continue to focus on consistent execution of ourstrategy and invest in digitalisation to scale our business to meet the needsof our growing customer base. For 2021 our priority will be on buildingfoundational capabilities in data, digital, and talent to deliver the 2021-25plan. While the benefits of these investments will become more evident overtime we can see already some of the upside potential in parts of our businesslike bancassurance where improvements in digital, data and people have led toan 80.5 percent year-on-year growth in the first quarter,” said Techcombank CEOJens Lottner.
The bank’s Total Operating Income (TOI) grew 46.2 percent to 8.9 trillion VND in2020, outpacing the 15.7 percent increase in operating expenses.
Its total assets were 462.8 trillion VND at the end of the first quarter, anincrease of 18.1 percent from a year ago. Total credit provided to customers asof March 31, 2021 was 336.2 trillion VND, 26.7 percent higher than thecorresponding period last year.
The bank remains one of the best capitalised banks in Vietnam with a Basel IICapital Adequacy Ratio (CAR) of 15.8 percent, nearly two times higher than theBasel II Pillar I minimum requirement of 8 percent.
NPL ratio was 0.4 percent as at March 31, 2021, against 1.1 percent last yearand 0.5 percent at the end of 2020.
Consolidated results also benefited from the robust performance of TechcomSecurities (TCBS) which recorded revenues of VNĐ1 trillion up 60.9 percentyear-on-year and before-tax profit of 843 billion VND. TCBS captured 68 percentof the corporate bond brokerage market share and more than 30 profit marketshare of new securities account openings in the first quarter of 2021.
TCBF, an open-ended bond fund managed by TCBS, continued to be the largest bondfund in the market with 28.6 trillion VND, up 91 percent year-on-year.
Techcombank added 245,000 net new customers in the three month period to bringtotal customers served to 8.6 million. Retail customer transaction volumeduring the period through Techcombank’s e-banking channels increased to 136.9million and value of transactions were nearly 2 quadrillion VND, up 88.6 percentand 101.8 percent year-on-year, respectively./.
VNA
