As one of 6 banks honored in the 50 best listed companies in Vietnam, Techcombank, along with the private sector, are highly rated by the board for growth and profit.
“The outstanding growth of the private sector continues to be recorded in the list of 2020. Leading private companies such as Vingroup, Masan Group, Techcombank, VPBank, Hoa Phat, Mobile World continue have a year of growth, most of the profits reach new milestones.
According to Forbes Vietnam, the list of “50 best listed companies in Vietnam 2020 marks the rise of the group of stocks that are defensive or less directly affected by epidemics such as: pharmaceuticals, construction, consumer goods, materials, finance.
Companies on the list of 2020 have a strong foundation, not only having good business results in 2019 but also expecting to be resilient in the context of Vietnam’s economy facing the most challenges in the past 10 years.
Forbes Vietnam’s list of the eighth best companies recorded new records. The total profit after tax of the companies on the list reached 138,705 billion VND, an increase of 8.7% compared to the list published in 2019, the highest ever.
Especially in the first time ranking of the 10 most efficient banks in Vietnam (except for state-owned banks), Forbes Vietnam evaluated: “In the first list, Techcombank ranked No. 1 when leading and top multiple indicators such as capital adequacy (CAR), return / total assets (ROA) and many other performance indicators such as return / equity (ROE); Net interest income / total interest earning assets (NIM), cost / income (CIR) ranked high.
As one of the leading private banks in operating efficiency, Techcombank stands out with the advantage of well-controlled asset quality. The bank’s business results maintained continuous growth over the past six years, and in 2019 alone, the bank recorded positive business results, with the first time surpassing VND 10,000 billion, leading the private banking sector”.
At the end of the first half of 2020, Techcombank continued to record 19 consecutive quarters of growth with pre-tax profit reaching 6.7 trillion, up 19% over the same period in 2019, equivalent to 51.5% of the profit target before tax that the shareholders meeting passed. Profit after tax reached 5.4 trillion, up 19% from 4.5 trillion in the first half of 2019. The Bank continued to assert its leading position with the return on total assets in The last 12 months reached 2.9%. The bank’s solid capital position as demonstrated by the CAR index according to Basel II reached 16.9%.
The Bank continues to implement its “customer-centric” strategy with its investment in staff, technology operations and excellent data to continue to achieve its goals of efficiency and drive market digitization Vietnamese finance is associated with increased customer experience.
Source: vietnamfinance.vn – Translated by fintel.vn