TECHCOMBANK IS HONORED WITH FORBES’ TITLE OF BEING THE MOST EFFECTIVE PRIVATE BANK
On October 15, 2020, Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) was honored in the List of 50 Best Listed Companies in Vietnam in 2020 voted and stated by Vietnam Forbes. Techcombank also ranked first in the Top 10 most effective banks by Forbes, which published for the first time.
As one of the 6 banks honored in the 50 best listed companies in Vietnam, Techcombank, along with the Private Business Sector, are highly appreciated by the Council for remarkable growth and profit: “Outstanding growth of the private business sector continues to be highly recognized in this 2020 list . Leading private business companies such as Vingroup, Masan Group, Techcombank, VPBank, Hoa Phat, Thegioididong ... keep on having a successful year of growth, most of which profits reach brand new milestones ”.
According to Vietnam Forbes, the list of "50 best listed companies in Vietnam in 2020” also marks the rise of the defensive stock group or those which are less directly affected by epidemics such as: pharmaceuticals, construction, consumer goods, materials, finance ... Companies in the 2020 list have such a strong foundation for not only having good business results in 2019 but also expecting to be resilient towards Vietnam's future economy.
Vietnam Forbes's eighth list of 50 best companies broke new records. The total after tax profit of those companies reached 138,705 billion VND, with an increase of 8.7% compared to that in the list published in 2019, the highest percentage ever measured.
Especially in the first-time ranking of the 10 most efficient banks in Vietnam (except for State-owned Bank),Vietnam Forbes evaluated: “In the first list, Techcombank ranked No.1 when leading with many multiple indicators such as capital adequacy ratio (CAR), return on assets (ROA) and many other performance indicators such as return ọn equity (ROE); Net interest margins (NIM), cost to income ratio (CIR) ... also ranked high.
As one of the leading private banks in operation 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 exceeding 10 trillion dong, 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 to 19% over the same period in 2019, equivalent to 51.5% of the profit target. before tax that the General Meeting of Shareholders 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 assets in the last 12 months reaching 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 human resources, technology operations and excellent data to continue to achieve its goals of efficiency and drive market digitization into Vietnamese finance associated with increased customer experience.
According to: dantri.com.vn
