22 October 2024
This livestream event is a quarterly virtual meeting designed for analysts and institutional investors, where Techcombank announces its remarkable business performance results. Techcombank’s executive team will deliver a comprehensive presentation on financial results, outlook, strategy and business updates. The event also includes Q&A section in which speakers will answer audiences’ questions in details.
9M24 TECHCOMBANK RESULTS: Robust results driven by momentum in NII and cost management
“Techcombank extended its robust performance into 3Q24, in line with management guidance. TOI excluding recoveries and PBT increased 11.3% and 23.5% YoY respectively. Key operating metrics remained robust with our CASA ratio remaining at 40.5%, net interest margin above 4%, and non-performing loans at 1.35%. Our credit and deposit growth continued to be higher than the industry. Notably, our retail credit book expanded 6.0% QoQ, driven by demand for mortgages.
3Q24 marked a busy and productive quarter for our insurance business. Techcom Non-Life Insurance Joint Stock Company (TCGIns) was established while our exclusive partnership with Manulife was mutually agreed to conclude. These developments open the opportunity for the Bank to expand our ecosystem strategy, reaching out to more customers and serving them through more integrated and compelling propositions.” – Jens Lottner – Techcombank CEO
Techcombank would like to share with investors key regulatory changes with regards to investment in shares of credit institutions in Vietnam under the new Law on Credit Institutions (CIs), which shall take effect from 1st July 2024.
| Category | Rating |
|---|---|
| Stand-alone Credit Profile | aa- |
| External Support | +0 |
| Issuer Credit Rating | AA- |
| Outlook | Stable |
| Category | Rating |
|---|---|
| Issuer Rating | Ba3 |
| LT Deposit rating | Ba3 |
| Baseline Credit Assessment | Ba3 |
| Counterparty Risk Rating | Ba2 |
| Outlook | Stable |
| Category | Rating |
|---|---|
| Issuer Credit Rating | BB-/Stable/B |
| Stand-alone Credit Profile | bb- |
| Outlook | Stable |
| Category | Rating |
|---|---|
| Stand-alone Credit Profile | a+ |
| External Support | +0 |
| Issuer Credit Rating | A+ |
| Outlook | Stable |
| Category | Rating |
|---|---|
| Issuer Credit Rating | BB-/Stable/B |
| Stand-alone Credit Profile | bb- |
| Outlook | Stable |
09 AUG 2024
[Hanoi, 9 August 2024] FiinRatings has upgraded the Long-Term Issuer Credit Rating on Vietnam Technological and Commercial Joint Stock Bank (“Techcombank” or “the Bank”) to ‘AA-’ from ‘A+’, while maintaining the Bank’s ‘stable’ rating outlook. Vietnamese banking sector rating stands at “a-”.
03 NOV 2023
First-time Long-term Issuer Rating by FiinRatings
Techcombank Tower – No.6 Quang Trung St., Tran Hung Dao Ward, Hoan Kiem Dist., Hanoi, Vietnam
+84 (24) 3944 6368
+84 (24) 3944 6395
ir@techcombank.com.vn
