Hanoi, Vietnam - Technological and Commercial Joint Stock Bank (“Techcombank”) has had its Baseline Credit Assessment (BCA) and credit rating  upgraded by Moody’s Investor Service (“Moody’s”). According to Moody’s analysis, Techcombank now has the strongest creditworthiness among all Vietnamese banks, with capital and profitability Techcombank's key credit strengths.

Specifically, Moody’s upgraded Techcombank’s long-term counterparty risk assessment (CRR) to Ba1 from Ba2 and long-term deposit to Ba2 from Ba3, with a ‘Stable’ outlook. Moody's also upgraded the Bank's BCA to ba2 from ba3. Techcombank is currently the only Vietnamese bank with a BCA of ba2.

Moody’s explained that its ratings action reflects Techcombank’s strong standalone creditworthiness and the upgrade of Vietnam's issuer rating to Ba2 from Ba3 on 6 September 2022. Prior to this rating action, Techcombank's BCA and ratings were constrained by Vietnam's previous sovereign rating of Ba3.

Also according to Moody’s, Techcombank’s asset quality remained broadly stable despite the pandemic, with gross non-performing loan (NPL) ratio increasing modestly to 0.7% as of the end of 2021 from 0.5% a year earlier. Loan loss coverage was also high at 163% as of the end of 2021.

Moody’s views capital and profitability as Techcombank's key credit strengths. Capital, as measured by tangible common equity to Moody's-adjusted risk weighted assets, was 13.6% as of the end of 2021, one of the highest among Moody's rated Vietnamese banks. Moody's expects Techcombank's capital to be stable over the next 12 –18 months because asset growth will be supported by strong profitability. Techcombank also reported a return on tangible assets of 3.3% in 2021.

Earlier on 24th August 2022 S&P Global Ratings affirmed Techcombank ‘BB-/B’ ratings with Outlook Stable. S&P assesses that the Bank’s overall profitability should remain above the industry average with return on assets of 3.3%-3.6%. Its profitability will be supported by its high-yielding loan book, high share of low-cost deposits, and sizable noninterest income (due to export-led trade finance and foreign exchange income, cross-sales of retail products [e.g., insurance], e-transaction channels, loan processing, and card fees).

The rating agency also expects rangebound credit cost for the bank because Vietnam's economy has rebounded after the COVID-related slowdown in 2021. It believes Techcombank has moderate systemic importance in Vietnam, and assess the
government as being highly supportive, resulting in moderately high likelihood of government support. The stable outlook on Techcombank reflects S&P’s view that the bank will maintain its entrenched retail franchise and above-industry-average profitability over the next 12-18 months.

    Public relations contact:
    PR – Marketing Division
    Tel:  +84 24 3944 6368 – Ext: 8494
    Email: thuyntb5@techcombank.com.vn

    Investor relations contact:

    Investor Relations Department
    Email: ir@techcombank.com.vn


Techcombank is listed on the HOSE as TCB VN. It was established in 1993 as Vietnam was transitioning from a centrally planned to a more market-oriented economy. Techcombank is now one of Vietnam’s largest joint stock banks and a leading Asian bank. The Bank pursues a proven customer centric strategy, with a broad range of banking solutions and services to more than 10.1 million customers, through an extensive network of over 300 transaction offices. The Bank’s ecosystem approach, which is implemented across multiple key economic sectors, further differentiates Techcombank in one of the world’s fastest growing economies.

Moody’s rates Techcombank the highest among Vietnamese banks with a Ba2, Stable Outlook with highest Baseline Credit Assessment. S&P rates the Bank with BB – (Stable Outlook).

Techcombank awards include:

  • Best Bank in Vietnam – Euromoney in 2018, 2021 and 2022
  • Best Bank in Vietnam – FinanceAsia in 2020 and 2021
  • Leading Partner Bank in Vietnam 3Q21 – Asia Development Bank
  • Best Companies to work for in Asia – HR Asia in 2019, 2020
  • ‘Best Payments Bank’, ‘Most Recommended Transaction Bank’, ‘Most Recommended Retail Bank’ and ‘Best Corporate Payment Implementation’ in Vietnam in 2021 – The Asian Banker
  • 2021 Best Treasurer, Asia Pacific (Marquee Award) – Corporate Treasurer
  • Leadership in VISA Card Issuing and Payment award – VISA, the fourth year in a row
  • Eight awards – VISA, the most VISA awards in 2021.