On 20 April 2024, Vietnam Technological and Commercial Joint Stock Bank (“Techcombank” or the “Bank”) held its 2024 Annual General Meeting of Shareholders (AGM). The shareholders approved all resolutions presented, including the 2024 business plan and budget, the dividend payments in 2024 and the plan for increasing Charter Capital, as well as the appointment of new members of the Board of Directors for the 2024-2029 term.



Techcombank delivered solid financial results in 2023, meeting all components of its full-year financial guidance, despite a volatile global economy and uncertainty about Vietnam’s real-estate and bond markets. Techcombank’s total operating income (TOI) remained broadly stable supported by an expanding customer base and the growth of its diversified fee income. While pre-tax profit (PBT) declined slightly compared to 2022, it exceeded guidance by 4%, thanks to tight control of operating expenditure. The Bank’s non-performing loan (NPL) ratio (1.2%) and credit costs (0.8%) remained among the lowest in the industry. Meanwhile, its Capital adequacy ratio stood at 14.4% at the end of 2023 and was the second highest among all Vietnamese banks.

Techcombank’s sustained profitability, balance sheet strength and asset quality demonstrated the success of its customer-centric strategy, the progress of its digital transformation and the robustness of its business model. The Bank’s leading digital capabilities and unique ecosystem partnerships enabled it to accelerate new client acquisition to 2.6 million new customers in 2023, and the Bank served over 13.4 million customers nationwide by the end of the year. New and revamped customer value propositions introduced during the year helped to make Techcombank the primary banking relationship of its customers and contributed to its growing CASA momentum.



Techcombank ended 2023 strongly with positive momentum across a range of operating metrics. This growth momentum has continued at the start of 2024 and the Bank is well placed to compete and win as the operating environment further improves during the year. Overall, the Bank’s trajectory remains in-line with the performance and growth aspirations of its five-year strategic plan.

In 2024, business initiatives will continue to follow Techcombank’s strategic plan, and the Bank will dial up the pace in three priority areas, these being the expansion of CASA deposits, the diversification of its credit portfolio, and the acquisition of Main Operating Account relationships.

Results of the 2024 AGM

At the 2024 AGM shareholders approved all resolutions put forward by the Board of Directors with a large majority.

Notably, shareholders approved Techcombank’s Business Plan for 2024 with PBT guidance of VND 27,100 billion, up 18.4% from 2023. The Bank’s total credit is projected to increase 16.2% YoY to VND 616,031 billion, or higher, in line with credit quota granted by the State Bank of Vietnam. Deposit growth will be managed in accordance with actual credit growth, to optimise the Bank’s balance sheet. Techcombank plans to keep NPL below 1.5%.

Shareholders approved the cash dividend payment plan of VND 1,500 per share. The dividend is expected to be paid out to shareholders in Q2 2024, with the specific time to be decided by the Board of Directors.



Shareholders also approved the plan to double Techcombank's charter capital from VND 35,225,108,110,000 to VND 70,450,216,220,000 through new share issuance using fundings from owners’ equity.

Shareholders also welcomed 3 new members to the Board of Directors for 2024-29 term, Ms Nguyen Thu Lan, Mr Eugene Keith Galbraith and Mr Pham Nghiem Xuan Bac and 1 new member to the Supervisory Board, Ms Do Thi Hoang Lien.

  • Ms Nguyen Thu Lan – BOD member: Ms Lan has over 22 years of experience in Techcombank, holding senior roles in both corporate and retail divisions as well as in risk management with her being acting Chief Risk Officer (CRO) of the Bank. 
  • Mr Eugene Keith Galbraith – Independent member of the BOD: Mr Galbraith brings vast experience and knowledge of the banking industry to Techcombank’s board. Most recently he spent 17 years with Bank Central Asia (BCA), one of Indonesia’s leading banks, where he served as President Commissioner and then Vice President Director. Prior to that he was an advisor to the Indonesian Ministry of Finance and Managing Director of ABN AMRO Asia. Given the similarities between Techcombank and BCA in terms of business model, affluent customer focus, CASA leadership as well as digital innovation, Mr Galbraith is expected to help Techcombank further strengthen its corporate governance and accelerate its digital transformation to become a leader in the region.
  • Lawyer Pham Nghiem Xuan Bac – Independent member of the BOD: Mr Bac has 35 years of legal advisory and business experience, with strengths in the fields of foreign direct investment, corporate governance and restructuring, business strategy and analysis, capital markets and private equity. Prior to Techcombank, he served 19 years as a member of the Board of Directors of Ho Chi Minh City Securities Corporation (“HSC”) and held the position of Head of the HSC’s Supervisory Board from April 2021-2024.
  • Ms. Do Thi Hoang Lien is the sole new member elected to the Board of Supervisors of Techcombank.  She has many years of experience working in top leadership roles in capital management, and finance at large corporates in Vietnam.



Additional details of the Techcombank’s 2023 performance and 2024 strategy can be found on the website at 2024 AGM documents or in the 2023 annual report https://techcombank.com/en/investors.



Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia, with a vision to Change Banking, Change Lives. The Bank pursues a proven customer-centric strategy in providing a broad range of retail and corporate banking solutions and services to help financially empower its customers. At the end of 2023 Techcombank had c.13.4 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets at locations across Vietnam. The Bank’s ecosystem approach, co-created through partnerships in multiple key economic sectors, adds further scale and differentiation in one of the fastest growing markets in the world.

Techcombank is rated A+ by FiinRatings, Ba3 by Moody’s and BB- by S&P, which is the highest among Vietnam joint stock commercial banks.