Annual Report 2019
VI EN

Techcombank is a customer-centric bank that puts customers at the centre of everything it does.

About us

About us

Techcombank is a customer-centric bank that puts customers at the centre of everything it does.

General information

Trading name

In Vietnamese

NGÂN HÀNG THƯƠNG MẠI CỔ PHẦN KỸ THƯƠNG VIỆT NAM

In English

VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK

Trading as

TECHCOMBANK

Abbreviation

TECHCOMBANK

Certificate of Business

The State Bank of Vietnam (SBV) issued us with Banking Licence # 0038/GP-NHNN on 6 March 2018. (replaced # 0040/NH-GP issued 6 August 1993)

Registration number

0100230800

  • First registration: 7 September, 1993
  • 51st amendment: 12 November, 2019
Chartered capital

VND 35,001,399,620,000
Vietnamese dong thirty-five trillion, one billion three hundred and ninety-nine million, six hundred and twenty thousand.

Address

Techcombank Tower – 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi, Vietnam

Phone number

+84 (24) 3944 6368

Fax

+84 (24) 3944 6395

Website

http://www.techcombank.com.vn

Stock code

TCB

Our vision, mission, core values

Vision

To be the best bank and a leading enterprise in Vietnam.

Mission

To be the trusted financial partner of those who bank with us – always providing an innovative and diverse range of customer-centric financial products and services.

To create a positive working environment for employees – with opportunities to make valuable contributions, experience professional growth and enjoy a successful career.

To deliver attractive, ongoing shareholder returns – driven by sound business strategy, underpinned by rigorous, internationally-recognised governance and risk management practices.

Core values

Customer centricity

“Because we only succeed when our customers succeed”

Innovation and creativeness

“To always lead”

Collaboration for common objectives

“To create collective strength to bring outstanding results to both individuals and the organisation”

Self-development

“To be able to grasp development opportunities within the organisation”

Work efficiency

“To bring greater success with appropriate resources”

Customer centricity

Innovation and
creativeness

Collaboration for
common objectives

Self-development

Work efficiency

Shareholder structure and changes in shareholders’ equity

Shareholding structure

Shares

3,500,139,962

Outstanding shares

The total number of common shares issued by TCB as at 31 December 2019 is 3,500,139,962 (equivalent to VND 35,001,399,620,000 of charter capital)

Shareholding structure
Major and other shareholders

Under Article 4.26, Law of Credit Institutions, issued in 2010, ‘major shareholders of credit institutions are those who own directly or indirectly more than 5% share capital with voting rights of the credit institution’.

Institutional and individual shareholders
Domestic and foreign shareholders

Changes in shareholders’ equity

In 2019, Techcombank’s share capital increased from VND 34,965,921,600,000 to VND 35,001,399,620,000.

Transaction of treasury shares

In 2019, Techcombank had no treasury shares transactions.

Techcombank holds no treasury shares as at 31 December 2019.

The Techcombank journey

Techcombank’s success is driven by our shareholders’ belief in us, the commitment of our employees, and the Bank’s dedication to continuous improvement.

2019
  • Opened second Northern head office – Techcombank Agile Center, 119 Tran Duy Hung Street, Cau Giay District, Hanoi.
  • New record profit before tax of over VND 12 trillion.
  • Welcomed over 1 million new customers.
  • Became the leading bank for operating efficiency, two years ahead of schedule in our 5-year plan.
  • Continued to increase our regional-leading scores in Organisational Health Index (OHI) and Employee Engagement Survey (EES).
  • Became Vietnam’s leading bank in terms of Visa card volume and transaction value; won seven awards from VISA – the most a Vietnam bank has ever won.
  • Officially complied with Basel II on 1 July – our CAR is double that required by the State Bank of Vietnam (SBV) regulations.
  • Awarded Vietnam House of the Year by Asia Risk in recognition of derivative structuring capabilities, broad swap and hedge product offerings, combined with an effective internal risk management system to solve the financial needs of corporate customers of all sizes.
  • Awarded Best Payments Bank in Vietnam by The Asian Banker.
Read more
2018
  • Listed on Ho Chi Minh City Stock Exchange (HoSE) – code TCB – with capitalisation of USD 6.5 billion in South East Asia’s third-largest IPO.
  • Tripled charter capital to VND 34,965.9 billion.
  • First private joint stock bank to make over VND 10,000 billion profit.
  • Awarded leading bank in Visa (debit and credit) card transaction value by Visa International.
  • Awarded Best Bank in Vietnam by EuroMoney and Best Trade Finance Bank in Vietnam by Global Banking and Finance Review.
Read more
2017
  • Received Standard and Poor’s highest credit rating in Vietnam.
  • Maintained double profit growth rate with VND 8,036 billion profit before tax; ranked by The Asian Banker as Vietnam’s second most profitable bank with over 5 million customers.
  • Leading Vietnamese bank for VISA transaction value.
  • Market leader for bancassurance, through strategic cooperation with top insurance firm, Manulife.
  • Voted by Techcombank employees as having the best HR and most engaged employees (Employee Engagement Survey), and as the second-best place to work in Vietnam’s banking and finance sector.
  • Held the inaugural Techcombank Ho Chi Minh City International Marathon – an event to help us connect with and contribute to our community.
Read more
2016
  • Launched our highly successful 2016–2020 strategy to be Vietnam’s #1 bank and lead the financial lives of our millions of customers.
  • Doubled 2015 profit.
  • Awarded Best Bank in Vietnam by Finance Asia, Vietnam House of the Year from Asia Risk and Enterprises, with Excellent HR Policies at the Vietnam HR Awards.
Read more
2011–2015
  • 2011
    Vietnam’s second largest joint stock bank by network scale – 307 branches and total assets of VND 180 trillion.
  • 2012
    Vietnam’s leading online bank – bringing our cardless ATM service to over 2.8 million customers.
  • 2014
    • Confirmed as Vietnam’s leading bank for service quality, with 23 prestigious local and foreign awards from Global Finance, IFC and Finance Asia.
    • The reliable choice for 3.7 million individuals and 48,000 corporates.
  • 2015
    Top 2 bank with 4.2 million customers and largest Visa transaction value.
Read more
1993–2010
  • 1993
    Established with chartered capital of VND 20 billion.
  • 2001
    Globus, our launch core banking system, complied with international standards.
  • 2003
    Participated in global card payment system via F@stAccess – Connect 24.
  • 2006
    Reached over USD 1 billion in total bank assets – an important milestone.
  • 2008
    • Founded Smartlink, Vietnam’s largest card alliance.
    • Launched the Techcombank Visa credit card.
  • 2009
    • Became a leading joint stock commercial bank – VND 5,400 billion chartered capital.
    • Total assets of VND 95,000 billion.
    • First Vietnamese bank to cooperate with leading global strategic consultant McKinsey.
  • 2010
    Winner of many global awards, including EuroMoney’s Best Bank in Vietnam.
Read more

Branch network and subsidiaries

Our branch network

Subsidiaries

TECHCOM SECURITIES JOINT STOCK COMPANY – TECHCOM SECURITIES (TCBS)

  • Operating licence:
    37/GPĐC-UBCK, granted by State Securities Commission on 13/06/19
  • Address:
    Floors 10 and 21, Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
  • Nature of business:
    Securities
  • Chartered capital:
    VND 1,123,595,510,000
  • % owned by Techcombank:
    89%

Vietnam Technological and Commercial Joint Stock Bank – Asset Management Company Limited (AMC)

  • Operating licence:
    #0102786255, granted by Hanoi Department of Planning and Investment on 18/6/08, 22nd amendment on 03/05/19
  • Address:
    Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
  • Nature of business:
    Asset management
  • Chartered capital:
    VND 410,000,000,000
  • % owned by Techcombank:
    100%

Techcom Capital Joint Stock Company – TECHCOM CAPITAL (TCC)

  • Operating licence:
    33/GPĐC-UBCK, granted by State Securities Commission on 05/06/19
  • Address:
    Floor 10, Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi
  • Nature of business:
    Fund management
  • Chartered capital:
    VND 44,943,820,000
  • % owned by Techcombank:
    89%

CEO’s story – The journey of happiness

A journey of a thousand miles begins with a single step…

I’m proud to say we are a CEO-focused organisation. And no, that does not mean a focus on me. CEO is an acronym that refers to our focus on our Customers, our Employees and our Organisation.

Our focus on meeting people’s needs and the power of digitalisation are helping change the face of Vietnamese banking. And, our customer centricity is bearing fruit for shareholders too – 2019 was our fourth straight year of strong, sustainable growth.

Our focus on meeting people’s needs and the power of digitisation are helping change the face of Vietnamese banking.

Mr Nguyen Le Quoc Anh

CEO

Ms Bui Thi Thi

Individual customer of Techcombank

Life in Vietnam is busy, whether you’re farming in village fields or dodging motorbikes on your way to a city office. Everyone is more rushed than ever – up early and working hard all day – with few moments to spare. Yet, more and more, technology is offering people a little extra precious time. Cutting-edge solutions and innovations are bringing convenience, ease and simplicity to our crazy busy lives.

Mr Nguyen Dinh Thi & Mrs Nguyen Hai Yen

M+ customer of Techcombank

The dream of all Vietnamese people is to own their own home and enjoy a new, better life. Starting a new life is a brave decision and it isn’t always easy. But, with Techcombank on your side, you’re off to a good start. It was the first time Mr Thi had ever experienced a service that told him what documents to submit, advised him how long the process would take and, let him check how his application was going, online. “Before this kind of cutting-edge technology, I’d have had to muck about calling branches or consultants for updates. And, if they didn’t respond right away, I’d have got nervous,” he states contentedly. “With Techcombank, I could check online whenever!”

Ms Phan Thi Hong Loan

Relation Manager Customer Services and

Financial Advisory Division

Importantly, Techcombank actively encourages me to be clear about my career aspirations and what I need to achieve them. My managers also pay close attention to my work so they know what coaching they can offer me. The Bank’s commitment to making a positive contribution to communities through philanthropy, advancing diversity and inclusion, and creating economic opportunity is really import to me.

Ms Mai Thu Thao

Head of Centre of Credit Administration

in Business Banking Division

I have been with Techcombank for 14 years and currently Head of Centre of Credit Administration (CCA) in Business Banking Division. To me, Techcombank is my second home. During my time with the Bank, I’ve enjoyed a front row seat as we’ve journeyed towards becoming a leading Vietnamese business. Techcombank offers lots of things other companies can’t. We’re encouraged to be creative in deciding how best to serve our customers, the leadership here is inspiring and celebrates dynamism and innovation.

Ms Cao Thi Mai Tram

Director of Le Ngoc Logistics Joint Stock Company

While Techcombank is undeniably a leader in so many ways, it’s my digital experience with the Bank that makes it a winner in my eyes. Techcombank’s technology is leading-edge stuff and helps me with notifications and alerts. I can access all the services I need on the app and make immediate transfers no matter where I am in the world. Transacting with Techcombank is almost seamless. Techcombank staff will prepare all the documents in advance, saving me heaps of time and hassle. Things are always fast and efficient.

Mr To Truong Quyen

CEO of Thien Thao Pharmacy

As Thien Thao Pharmacy grows, being able to take out loans with reasonable fees supports them in bid guarantee and salaries. “Techcombank understands our credit needs and, in cases where we’ve overstretched a bit and exceeded credit limits, we’ve resolved it together. It’s a great feeling to know that Techcombank staff listen to customers and do all they can to reach mutually acceptable solutions.”

Never-ending transformation

As they say, ‘it’s the journey not the destination’, and our transformation is an ongoing, constant improvement process. Techcombank’s 2021–2025 plan will build on everything we’ve achieved so far, until everyone recognises us as Vietnam’s #1 bank.

If people don’t move in the same direction, they get confused and there are gaps and overlaps; causing frustration and inefficiency. By uniting our workforce around a common purpose, we create the magical synergy we need to produce customer-centric outcomes – today, tomorrow and always.

Helping businesses be better

Small to medium enterprises (SMEs) are the engine room of the Vietnamese economy – when they thrive, we all thrive. But to succeed in business, you must be able to act fast, and adapt to evolving consumer needs.

Just to prove how dedicated we are to market leadership … Since February 2020, all SME and corporate customers using our digital banking solutions, have been enjoying preferential foreign exchange rates and overseas remittance fees interest on their current account balances. This offers businesses more freedom to run things the way they’d like to, and is a big encouragement to those operating in government priority industries.

Digitalising and automating

For 21st century banks, the underlying theme of the disruptions and challenges is digitisation and automation. Techcombank’s survival will depend on how we deal with these.

Going digital means an opportunity to really rethink things, and we’ve reinvented the entire customer experience journey from start to finish. Our goal now is to digitise and automate all customer experiences so they’re faster, better and more convenient.

Financial highlights for 2019

Our success is reflected in our results. Among Vietnamese banks we are sixth in total assets, second for profit, and first in ROA. We’ve achieved our goal of being Vietnam’s most efficient bank two years ahead of schedule. We also enjoy a compound annual growth rate (CAGR) of 20–30% per year.

ROA

2.9%

Total operating income (TOI)

VND 21,068,145 million

Profit before tax (PBT)

VND 12,838,268 million

Profit after tax (PAT)

VND 10,226,209 million

Current and savings account ratio (CASA)

34.5%

Looking ahead

Nothing extraordinary comes from half-hearted attempts.

As a core element of the economy, the banking system in general and Techcombank in particular have a responsibility to lead the changes that drive economic success. And to us, success means the happiness of our customers, their families and the community. It’s the result of concerted efforts – nothing extraordinary comes from half-hearted attempts. We want to be there with every one of our customers, step by step, as they take their own financial journey to success.

Our aim, as always, is to be the #1 bank in Vietnam – empowering our customers, minimising their costs and saving them time. To get there, we must ‘Be Greater’ everyday.

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