On 20 June 2020, Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) organized its 2020 Annual General Meeting of Shareholders (AGM). The shareholders approved all resolutions presented including the 2020 business plan submitted by the Board of Directors (BOD). 
The AGM approved the Techcombank 2020 business plan with the impact of COVID-19 considered. Accordingly, 2020 PBT is targeted at VND 13 trillion, increasing by 1% from 2019. The Bank’s total assets is targeted to increase to VND 431,483 billion (an increase of 12%). Deposits will grow to VND 268,820 billion and loan balance to VND 291,586 billion, both increasing by 13% against 2019, in line with the current credit allowance from the SBV. The Bank also plans to keep NPL below 3%, as stipulated by SBV guidance. 

Techcombank’s shareholders overwhelmingly approved the plan for retained earnings and investment into fundamental capabilities to continue the future growth momentum for the Bank. The bank’s strong investment in people and systems accounts for its remarkable success in its transformation journey. Techcombank topped the banking sector in terms of profitability and operational efficiency (ROA: 2.9%) and was among the Top 2 most profitable bank in 2019. 

The Techcombank AGM also approved the increase in charter capital to VND 35,049 billion in conjunction with the issuance of 4.7 million ESOP shares for key outstanding employees, in line with resolutions passed in the previous AGM. The shares issued are for purchase rights awarded to eligible employees for performance in 2017. The ESOP program is critical for employee attraction and retention and to align incentives with the Bank’s long-term development. In the years to come, the Bank will relentlessly pursue its People Excellence strategy and at the same time recruit talent from all over the world to prepare for upcoming accelerated development. 
The AGM also ratified revisions to Techcombank’s charter effective 01/01/2021, in accordance with 2019 Law on Securities passed by Vietnam National Assembly. 
Strong foundation built from outstanding business performance  
Based on the strong foundation achieved through the execution of the 2016-2020 strategy, decisions approved by the AGM in 2020 will enable Techcombank to develop a new 2021-2025 strategy roadmap, continue its transformation and reinforce its position as the best bank in Vietnam and one of the leading banks in the region. 

2019 marked a year of outstanding business performance from Techcombank with VND 12.8 trillion PBT and VND 21.1 trillion TOI, an increase of 31.5%1 and 24.7%2 respectively over 2018. Non-interest income increased to VND 6.8 trillion and accounted for 32.2% of TOI. Provisions decreased by 50.3% thanks to healthy assets quality and a prudent risk management strategy. Cost to income ratio was well controlled at 34.4%, within the Bank’s target. ROA was 2.9%, the highest in the market, affirming the success of Techcombank’s Low Risk - High Return Strategy. 

The Bank’s total asset reached VND 383.7 trillion, an increase of 19.5% versus 2018, with credit growth of 18.8%. Total deposits reached VND 231.3 trillion, an increase of 14.8% driven by strong CASA growth of 37.9% over 2018, reaching VND 79.7 trillion and setting a record high CASA ratio of 34.5%. Techcombank maintained its solid liquidity with a loan to deposit ratio of 76.3% and short term fund used for medium and long-term lending ratio of 38.4%. 
Techcombank held its leading capital position in the country with Capital Adequacy Ratio of 15.5%, nearly doubling the minimum requirement of Basel II Pillar 1. Non-performing loan ratio at year end was 1.3%, showing the healthy asset quality and the prudent risk management strategy of the Bank. 
  1. Excluding one-off items
  2. Excluding the one-off items and recoveries
  3. As per data updated by Quarter 1/2020
Established in 1993, Techcombank (TCB) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia.TCB pursues a proven customer-centric strategy in providing a broad range of banking solutions and services to more than six million retail, SME, and corporate customers in Vietnam through an extensive network of 313 branches across the country and through its market leading internet and mobile banking services. The bank’s ecosystem approach within its chosen economic segments of housing, FMCG, auto, travel & leisure, financial services and utilities and telecom further differentiates TCB in one of the fastest growing economies in the world. 
TCB is rated highest among banks in Vietnam with a Ba31 from Moody’s and BB-2 from S&P and was named Best Bank in Vietnam 2018 by Euromoney.TCB is listed on the Ho Chi Minh Stock Exchange (HOSE) under the ticker TCB. 
Media Contact: 
NGUYEN THI BICH THUY – PR - Communication 
Email: thuyntb5@techcombank.com.vn