Hanoi, 7 November 2023 - Vietnam Technological and Commercial Joint Stock Bank (“Techcombank” or the “Bank”) is pleased to announce that it has been assigned a first-time Long-Term Issuer Credit Rating of ‘A+’ with a Stable rating outlook by FiinRatings.


Stand-alone Credit Profile a+
External Support +0
Issuer Credit Rating A+
Outlook Ổn định

“Techcombank’s A+ rating and Stable outlook is the highest credit rating to be assigned by FiinRatings and reflects the Bank’s superior business position, robust capital and earnings profile and rigorous approach to risk and asset-liability management. 
FiinRating’s "strong" assessment of Techcombank’s business position is based on detailed analysis that combines international standards with local market insight and is consistent with Standard & Poor's rating and outlook that was reaffirmed in September. Together with the resilient financial performance the Bank delivered in 3Q23, these ratings confirm the fundamental strength and sustainability of Techcombank’s business model.”

Alexandre Macaire – Techcombank CFO


On 1st November 2023, FiinRatings, a member of FiinGroup and a technical collaboration partner of S&P Global Ratings in Vietnam, assigned Techcombank a Long-Term Issuer Credit Rating of ‘A+’ with “Stable” Outlook.

According to FiinRatings’ first-time issuer rating report: “The issuer rating on Techcombank of ‘A+’ with Stable rating outlook reflects our expectation that the Bank’s credit profile will remain stable over the next 24 months, supported by the Bank’s solid business position as well as robust capital and earnings profile.”  

In its report, FiinRatings gave a “strong” assessment of Techcombank’s business position. This reflected the agency’s view that Techcombank’s credit profile would continue to be supported by its systemic importance and position among the leading private commercial banks in Vietnam. 

Capital and earnings were highlighted by FiinRatings as Techcombank’s key credit strengths compared to other commercial banks in Vietnam. Fiinratings acknowledged the Bank’s industry leading capital adequacy ratio (CAR) of 15.1%, which is the highest among Vietnamese commercial banks. It also highlighted Techcombank’s robust earnings profile even during the current prolonged period of economic slowdown, which it said was strongly supported by the Bank’s retail customer base of affluent and mass-affluent individuals. 

FiinRatings assessed that Techcombank has above-industry-average risk management performance. Specifically, the rating agency said that “Techcombank’s dedicated enterprise-wide risk management processes and prudent asset-liability management have effectively helped mitigate its material concentrations in cyclical and capital-intense industries.”  

Lastly, Techcombank’s funding and liquidity profile was assessed by FiinRatings to continue to benefit from the Bank’s sticky affluent and mass affluent customer base, as well as the Bank’s capabilities to retain its leading position in demand deposit share . 

Techcombank’s specific scoring and rating were performed against FiinRatings’ view of the overall credit outlook for Vietnam’s banking sector, which it expects to remain stable. This is due to ongoing government supportive measures, as well the expectation on the medium-term economic recovery despite the short-term headwinds.

More details on FiinRatings and FiinRating’s first-time issuer rating report on Techcombank, as well as potential upgrades or downgrades, can be found at links below:

Public relations contact:
Nguyen Thi Bich Thuy
Email: thuyntb5@techcombank.com.vn 
Investor relations contact: 
Investor Relations Department
Email: ir@techcombank.com.vn

About Techcombank (Ticker: TCB VN, HOSE)
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. Techcombank has c.13.0 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 Ba3 by Moody’s and at BB- by S&P, which is the highest among Vietnam joint stock commercial banks


APE – Annual premium equivalent 
LC – Letter of Credit 
CAR – Capital adequacy ratio 
CASA – Current account savings account
CIR – Cost-to-income ratio
HOSE – Ho Chi Minh Stock Exchange
IB – Investment banking 
LDR – Loan-to-deposit ratio
MoM – Month-on-month
NII – Net interest income 
NFI – Net fee and commission income
NIM – Net interest margin (LTM)
NPL – Non-performing loan 
PBT – Profit before tax 
Q1, Q2, Q3, Q4 – Quarter 1,2,3,4
ROA – Return on assets
ROE – Return on equity
SME – Small and medium-sized enterprise
ST – Short-term
TCBS – Techcom Securities 
TOI – Total operating income 
VND – Vietnamese dong
YoY – Year-on-year
RBG – Retail Banking Group
BB – Business Banking Group, servicing Middle Market (MM, annual revenues between VND 600 billion and VND 2 trillion), Upper SME (USME, annual revenues between VND 200 billion and VND 600 billion), SME (annual revenues between VND 200 billion and VND 20 billion), and Micro SME (MSME, annual revenues under VND 20 billion) customers
WB – Wholesale Banking Group, servicing large corporate customers