Techcombank eyes consolidated pre-tax profit of 863 million USD
The Technological and Commercial Joint Stock Bank (Techcombank) has set a target of posting consolidated pre-tax profit of 19.8 trillion VND (863.76 million USD) this year, a year-on-year surge of 25.3 percent.
Hanoi(VNA) - The Technological and Commercial Joint Stock Bank (Techcombank) has seta target of posting consolidated pre-tax profit of 19.8 trillion VND (863.76million USD) this year, a year-on-year surge of 25.3 percent.
It also targetscredit growth of 12 percent or higher and deposit growth of at least 14.7percent, while keeping bad debts under 2 percent.
More than 6million bonds worth 10,000 VND each will be issued under an employee stockownership plan (ESOP). Techcombank’s charter capital is then to surpass 35.1trillion VND.
The bank posted a pre-taxprofit of 15.8 trillion VND in 2020, an increase of 23.1 percent against 2019.
As of the end ofDecember, its total assets had risen 14.6 percent from the start of the year tonearly 440 trillion VND.
Mobilised capitalhit 289.78 trillion VND last year, up 22.1 percent year on year, whileoutstanding loans were valued at 318.03 trillion VND, up 23.3 percent.
Its capitaladequacy ratio stood at 16.1 percent, higher than the 8 percent stipulated bythe State Bank of Vietnam. Bad debts contracted to 0.5 percent from 1.3 percent,after overdue outstanding debts of 3.36 trillion VND were handled.
According to BrandFinance, Techcombank’s brand value rose 30 percent last year to 524 million USD,from 401 million USD a year earlier.
It also leapt 57places to 270th in the world’s 500 most valuable banking brands in 2021./.
The Technological and Commercial Joint Stock Bank (Techcombank) has reinforced the strength of its customer centric strategy in delivering strong 2020 financial results.
Moody's Investors Service has affirmed the long-term local and foreign currency deposit ratings and senior unsecured ratings of 15 Vietnamese banks at Ba3 positive.
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Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
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It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
As the most significant and high-profile event in the global logistics industry, FIATA World Congress 2025 is expected to gather over 1,200 delegates from more than 150 countries.
Transaction at Techcombank (Photo: VNA) 
