Techcombank receives many int’l awards

A branch of Techcombank. (Source: techcombank.com.vn)

Hanoi (VNA) – The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has recently received a number of awards from prestigious international financial organisation.

The titles that the bank has won included “Vietnam’s Best Bank in 2016” and “Platinum Award for Best Domestic Bank” from FinanceAsia as well as “Best Bank in Vietnam 2007-2016”, “Best Trade Finance Bank in Vietnam” and “Best Bond House in Vietnam” from the Alpha Southeast Asia magazine.

According to its unaudited business report, Techcombank’s pre-tax profit approximated 2.04 trillion VND (91.12 million USD) last year, rising by 43.8 percent from 2014. Meanwhile, the net interest income climbed 22.8 percent yearly thanks to credit growth of almost 30 percent.

Increased total income, controlled operating expenses and more effective operations helped cut down the cost/income ratio for the second straight year, from 47.2 percent in 2014 to 39.5 percent in 2015.

Techcombank’s total assets were valued at over 192 trillion VND (8.57 billion USD) in 2015, up 9.2 percent from the previous year.

Last year, the bank mobilised 142.24 trillion VND (6.35 billion USD) from its clients, up 8 percent annually, while outstanding loans were at more than 111.62 trillion VND (4.98 billion USD), nearly 31.32 trillion VND (1.4 billion USD) higher than 2014.

Techcombank currently has 312 branches and transaction offices, over 1,200 ATMs and 1,600 transaction points, serving more than 4 million people and 102,000 enterprises.-VNA