Techcombank eyes consolidated pre-tax profit of 863 million USD
The Technological and Commercial Joint Stock Bank (Techcombank) has set a target of posting consolidated pre-tax profit of 19.8 trillion VND (863.76 million USD) this year, a year-on-year surge of 25.3 percent.
Hanoi(VNA) - The Technological and Commercial Joint Stock Bank (Techcombank) has seta target of posting consolidated pre-tax profit of 19.8 trillion VND (863.76million USD) this year, a year-on-year surge of 25.3 percent.
It also targetscredit growth of 12 percent or higher and deposit growth of at least 14.7percent, while keeping bad debts under 2 percent.
More than 6million bonds worth 10,000 VND each will be issued under an employee stockownership plan (ESOP). Techcombank’s charter capital is then to surpass 35.1trillion VND.
The bank posted a pre-taxprofit of 15.8 trillion VND in 2020, an increase of 23.1 percent against 2019.
As of the end ofDecember, its total assets had risen 14.6 percent from the start of the year tonearly 440 trillion VND.
Mobilised capitalhit 289.78 trillion VND last year, up 22.1 percent year on year, whileoutstanding loans were valued at 318.03 trillion VND, up 23.3 percent.
Its capitaladequacy ratio stood at 16.1 percent, higher than the 8 percent stipulated bythe State Bank of Vietnam. Bad debts contracted to 0.5 percent from 1.3 percent,after overdue outstanding debts of 3.36 trillion VND were handled.
According to BrandFinance, Techcombank’s brand value rose 30 percent last year to 524 million USD,from 401 million USD a year earlier.
It also leapt 57places to 270th in the world’s 500 most valuable banking brands in 2021./.
The Technological and Commercial Joint Stock Bank (Techcombank) has reinforced the strength of its customer centric strategy in delivering strong 2020 financial results.
Moody's Investors Service has affirmed the long-term local and foreign currency deposit ratings and senior unsecured ratings of 15 Vietnamese banks at Ba3 positive.
After staying at a low level last year, deposit and lending interest rates will probably increase in the second quarter of this year as credit demand is high again when the COVID-19 pandemic is controlled and the economy rebounds further, according to experts.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Transaction at Techcombank (Photo: VNA) 
