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Techcombank delivered USD 1 billion+ pre-tax profit, powered by investments in Digital, Data and Talent

Techcombank delivered USD 1 billion+ pre-tax profit, powered by investments in Digital, Data and Talent
On 23 April 2022, Vietnam Technological and Commercial Joint Stock Bank (“Techcombank” or the “Bank”) held its 2021 Annual General Meeting of Shareholders (AGM). The shareholders approved all resolutions presented, including the 2022 business plan.
2021 saw the COVID-19 pandemic impacting Vietnam’s economy and society to an even larger scale than the year before, as the fourth wave spread across the country. During this challenging period for the nation, the Bank’s role in providing safe and accessible banking services to retail and business customers became more vital than ever before. Thanks to its prior investments in digital technology and infrastructure, the Bank was able to maintain all banking services, even during periods of extended lockdown, while providing safe working environments for employees.
To support its customers through the pandemic, Techcombank further expanded its COVID-19 relief program, rescheduling nearly VND 11.8 trillion in loans in 2020-21, and granting VND 540 billion worth of interest reductions and waivers. Thanks to the support of the Bank, many of the customers who were struggling to make repayments managed to exit the program, leading to a rapid decline in outstanding rescheduled loans to VND 1.9 trillion by the end of 2021 (equivalent to 0.5% of total outstanding loans). Techcombank also contributed around VND 400 billion for community support, including donations to the vaccine fund, hospital construction, provision of medical equipment and other forms of direct support to patients and their families.
Techcombank’s investments in data and digital technology, coupled with its commitment to delivering the best service possible to customers, enabled Techcombank to achieve another year of robust financial performance in 2021, despite the challenging conditions. In 2021, the Bank generated VND 37.1 trillion in total operating income (TOI), up 35.4% Year-on-Year (YoY), driven by strong growth in both interest income (NII) and service fee income (NFI).
Techcombank became the first non-state-owned commercial bank to join Vietnam’s “billion-dollar profit” club in 2021, with a profit before tax (PBT) of VND 23.2 trillion, up 47.1% YoY. With this fifth consecutive year of double-digit growth, the compounded average growth rate (CAGR) of Techcombank’s profits over the 2016-2021 period reached a record level of 50.0%.
During 2021, Techcombank grew its total assets by 29.4%, to VND 568.7 trillion, while delivering an industry-leading return on assets (ROA) of 3.7%. The current account and savings account (CASA) ratio reached 50.5% at the end of 2021, setting another record for Vietnam’s banking sector. Techcombank also reported a capital adequacy ratio (CAR) of 15.0%, a non-performing loans ratio (NPL) of 0.7%, and a loan loss coverage ratio (LLC) of 162.9%, reflecting the Bank’s prudent approach to risk-management.
2022 Outlook

Shareholders approved the retention of all earnings to fund the investments in Digital, Data and Talent and support the Bank’s growth trajectory, as set out in the 2021-2025 strategy. The 2022 performance targets were also presented during the meeting, confirming that the Bank is well positioned to capitalise on economic recovery as Vietnam emerges from the pandemic.
In 2022, PBT is guided to reach VND 27.0 trillion, up 16.2% from 2021. The Bank’s total credit1 is projected to increase 15.0% YoY to VND 446.6 trillion, or higher, in line with the final quota granted by the State Bank of Vietnam. Deposits growth will be managed in accordance with actual credit growth as the Bank pursues optimisation of asset liability management (ALM). Techcombank plans to keep NPL below 1.5%.
The Bank reported that it will increase the charter capital to VND 35.2 trillion, an increase of 0.18% in conjunction with the planned issuance of 6.3 million ESOP shares.
The shareholders also ratified revisions to the Bank’s Charter and to the organisation and operation of the Board of Director (BOD) in accordance with the new Law No. 3/2022/QH15.
Additional details of the Bank’s 2021 performance and 2022 focus can be found on the Bank’s website at 2022 AGM Documents.
Notes: 1. Bank’s credit exposure according to the SBV’s regulation

Techcombank is one of Vietnam’s largest joint-stock banks and provides a broad range of products and services to over 9.6 million retail and corporate customers. The Bank’s mission is to lead the digital transformation of the financial industry, enabling individuals, businesses, and corporations to progress and thrive sustainably.
In 2021 the Bank delivered 2nd highest profit, with the highest return on assets. The success is driven by a strategy focused on customers and continuously striving to improve products and services through investments in digital, data and talent.

Techcombank is rated highest among banks in Vietnam with a Ba3, Positive Outlook by Moody’s and was the only bank that was restrained by sovereignty ratings. It is rated BB-, Positive Outlook by S&P. The Bank was named The Best Bank in Vietnam by Euromoney in 2021, The Best Bank in Vietnam by FinanceAsia in 2021, Leading Partner Bank in Vietnam 3Q21 by Asia Development Bank, ‘Best Payments Bank’ and ‘Most Recommended Transaction Bank’ in Vietnam by The Asian Banker, 2021 Best Treasurer, Asia Pacific (Marquee Award) by Corporate Treasurer.
Techcombank was established in 1993 and has a head office in Hanoi, two (2) representative offices, and 307 transaction offices across 46 cities and provinces. The Bank is listed on the Ho Chi Minh Stock Exchange (HoSE) under the ticker TCB VN.
Public Relations contact:
Nguyen Thi Bich Thuy
PR – Marketing Division
Tel: +84 24 3944 6368 – Ext: 8494
Email: [email protected]
Investor Relations contact:

Investor Relations Department
Email: [email protected]