Chairman’s letter

Many experts agree that 2021 challenged our domestic economy more than at any point during this pandemic. However, in concert with efforts to tackle the virus and keep people safe, Vietnam’s financial system saw various positive spots. Vietnam continues to be seen as a stable, developing economy, recording a GDP growth rate of 2.6% in 2021, following a 2.9% GDP growth in 2020.

This intact growth was driven by efforts across many sectors, especially banking. Techcombank is proud to have played a very important role – working with the government, businesses and the Vietnamese people to mitigate impacts of disease and fuel economic recovery, while continuing to develop under ‘new normal’ conditions.

As one of Vietnam’s leading banks, Techcombank worked hard to create a favourable environment for customers and businesses, implementing policies to support the community and aid economic recovery. The Bank restructured nearly VND 11.8 trillion in loans in 2020–21 and assisted with interest rate reductions of VND 540 billion. To support the most pandemic- affected individuals and communities, Techcombank contributed around VND 400 billion towards the vaccine fund and medical equipment, including a donation of VND 100 billion to build a hospital to treat COVID-19, as well as providing direct help to the community, patients and their families. During 2021, more than 12,000 Techcombank employees shared a determination for excellence to overcome the year’s many difficulties. Business continued, quality products and services were supplied and the customer experience was improved. Our people’s commitment validates our many years of operating with a customer- centric strategy.

Thanks to this consensus and drive, and the trust of customers and shareholders, Techcombank continued to grow – approaching the standard and size of leading regional banks – achieving pre-tax profit of USD 1 billion (VND 23,238 billion) for the first time. The Bank not only exceeded 2021 plan but also performed well, continuing to lead the industry with a current and savings accounts (CASA) ratio of 50.5% and return on assets of 3.7%. We attracted over 1.2 million new customers, bringing our total to more than 9.6 million. Customers made 652 million electronic transactions, up 70.0% from 2020, with a total value of VND 9.1 quadrillion, up 80.5%. We also maintained our leading market position for sales payments via Visa card and first time winning Market Leader in Domestic Payment activities, awarded by NAPAS.All these achievements saw Brand Finance pronounce Techcombank one of the top 200 most valuable global banking brands. Our brand value (up 80% to USD 945 million) rose 74 places – from 270 to 196 – recognising our serious investment in cloud infrastructure among others, as part of our digital strategy to nurture long-term customer relationships. Techcombank was also one of only two Vietnamese banks mentioned by Brand Finance for rapid growth.

We have taken the initial steps towards being a top 10 regional bank by 2025 and are ready every day for new and superior challenges, fulfilling our mission to lead the digitalisation of the financial industry, providing unique solutions for the best customer experiences and motivating individuals, businesses and organisations to succeed sustainably.

In the ‘new normal’ period expected for 2022, Vietnam’s economy will see prosperity expand as it flexibly and safely adapts to the pandemic paradigm. With our vision of Change banking, change lives, combined with the trust and companionship of our shareholders, customers and partners, I firmly believe Techcombank is set to achieve great things. We remain committed to continuous improvement and ongoing development that maximises benefits to shareholders, creates sustainable value for customers and the country, and allows Techcombank to proudly hold a worthy regional position.

Warmest regards

Chairman of Board of Directors

Ho Hung Anh