Vietnam’s economy continued to recover during the 1st quarter of 2015, however there are certain challenges that continue to be faced by the economy and the banking sector. In the first quarter of 2015, Techcombank maintained stronger focus on customer service, developing highly competitive products to fulfill the increasing needs of customers, together with initiatives to improve efficiencies and cost management, contributing to maintain sustainable growth in Q1/2015.

Techcombank started the year with a strong footing with Total Operating Income as at the end of first quarter 2015 reached VND 2,627 billion, up 61.25% over the same period last year. With improved margins and increasing loan balance, net interest income stood at VND 1,861 billion, up 41.87%. The accumulated profit before tax stood at VND 408 billion, down 39% over the same period last year, achieving 20.4% target profit in 2015 due to our proactive and prudent provision policies.
As compared to the end of 2014, customer deposits stood at VND 126,886 billion and customer lending reached VND 88,720 billion a significant increase of 10.48%. That is a robust increase achieved through our efforts in enhancing cooperations with strategic partners and existing corporate customers to maximize business opportunities, benefiting its customers, simultaneously, listening to customers’ needs and providing innovative products with outstanding benefits for our customers.
Techcombank continues to de-risk its balance sheet, improve efficiencies & asset quality, and control costs. The cost to income ratio as at the end of first quarter 2015 stood at 31.66%, a sharp decrease of 35% as compared with the same previous year. Meanwhile, the Capital Adequacy Ratio (CAR) as at the end of same period increased by 20% verser the same period of last year, to 15.79 %, well in excess of the regulatory requirement of 9.0% by State bank
Looking forward and during the year, Techcombank will continue to focus on sustainable development, innovative product superior customer service, and high growth underpinned by robust risk management practices.