Illustrative image (Photo: VNA) Hanoi (VNA) - TheVietnam Technological and Commercial Joint Stock Bank (Techcombank) earnedpre-tax profit of over 12.83 trillion VND (554.7 million USD) and revenue of 21.1trillion VND (910.38 million USD), marking increases of 31.5 percent and 24.7 percentyear on year, respectively.
In its latest report,Techcombank said net interest income reached 14.3 trillion VND, up 25.2 percentyear on year. Meanwhile, non-interest income rose by 23.4 percent to 6.8trillion VND, accounting for 32.3 percent of total revenues.
The report showed that theprovision expenses decreased by 50.3 percent supported by healthy asset qualityand prudent risk management. Cost-to-income ratio of 34.7 percent was withinthe bank’s initial target. Return on assets of 2.9 percent was the best in themarket and is consistent with Techcombank’s low risk, high returnstrategy.
Total assets increased 19.5 percentcompared with the same period last year, reaching 383.7 trillion VND (16.6billion USD) with credit growth expanding 18.8 percent.
Techcombank maintained ampleliquidity with a loan-to-deposit ratio of 76.3 percent and short-term funds tomedium-to-long-term loans ratio of 38.4 percent.
Techcombank also maintained itsposition as the best capitalised bank in Vietnam with a Basel II CAR ratio of15.5 percent, nearly double the Basel II Pillar I minimum requirement.
In 2019, Techcombank added 1.1million net new customers to bring the total customers served by the bank to7.3 million. Customers using e-banking services increased from 56 percentto 76 percent year on year. Transaction volume and value through Techcombank’smobile channels increased to 172 million, up 217 percent compared with the sameperiod last year and 2.58 trillion VND (up 244 percent year on year),respectively, thanks to the ongoing convenience and preference for the bank’sdigital solutions./.
In its latest report,Techcombank said net interest income reached 14.3 trillion VND, up 25.2 percentyear on year. Meanwhile, non-interest income rose by 23.4 percent to 6.8trillion VND, accounting for 32.3 percent of total revenues.
The report showed that theprovision expenses decreased by 50.3 percent supported by healthy asset qualityand prudent risk management. Cost-to-income ratio of 34.7 percent was withinthe bank’s initial target. Return on assets of 2.9 percent was the best in themarket and is consistent with Techcombank’s low risk, high returnstrategy.
Total assets increased 19.5 percentcompared with the same period last year, reaching 383.7 trillion VND (16.6billion USD) with credit growth expanding 18.8 percent.
Techcombank maintained ampleliquidity with a loan-to-deposit ratio of 76.3 percent and short-term funds tomedium-to-long-term loans ratio of 38.4 percent.
Techcombank also maintained itsposition as the best capitalised bank in Vietnam with a Basel II CAR ratio of15.5 percent, nearly double the Basel II Pillar I minimum requirement.
In 2019, Techcombank added 1.1million net new customers to bring the total customers served by the bank to7.3 million. Customers using e-banking services increased from 56 percentto 76 percent year on year. Transaction volume and value through Techcombank’smobile channels increased to 172 million, up 217 percent compared with the sameperiod last year and 2.58 trillion VND (up 244 percent year on year),respectively, thanks to the ongoing convenience and preference for the bank’sdigital solutions./.
VNA
