In 2015, Vietnam’s economy maintains its stability and has signs of recovery, yet faces many challenges for the economy and the banking sector. For the first half of 2015, Techcombank maintained stronger focus on customer services, developing highly competitive products to fulfill the increasing needs of customers, together with initiatives to improve efficiencies and cost control management, contributing to increase the bank’s profits.
Techcombank’s business results in 2nd Quarter of 2015 records positive, contributing to overall good performance for the first half of 2015: the accumulated profit before tax is VND 1,032 billion, up 9% over the same period, achieving 51.6% target profit in 2015. Total assets are VND 172,744 billion, up 1% versus the same period.
Customer deposit stood at VND 129,016 billion while customer lending balance stayed at VND 90,900 billion, increased by 13% against end of 2014. That is quite significant performance thanks to our efforts in cementing strategic partnership with valuable corporate customers, from which to leverage business opportunities for mutual benefits, understanding to customers’ needs, and providing innovative products with outstanding benefits for customers.
Techcombank continues to de-risk its balance sheet, improve efficiencies & asset quality, and control costs. The Capital Adequacy Ratio (CAR) as at the end of same period increased by 22% against last year, up to 16.3 %, well in excess of the regulatory requirement of 9.0% by State bank of Vietnam.
Looking forward, Techcombank will continue to focus on sustainable development, innovative products with superior customer service, and solid growth underpinned by robust risk management practices.
