Transactions at Techcombank. The bank reached US$1 billion in pre-tax profit in 2021. — Photo vietnamplus.vn

HÀ NỘI — Techcombank record a US$1 billion pre-tax profit in 2021 despite COVID-19, reinforcing the resilience and potential of its business models.

Its total operating income (TOI) grew 35.4 per cent, while the sector-leading current account savings account (CASA) ratio reached 50.5 per cent.

The bank’s focus on transformation and technology investments, to meet the needs of its fast-growing customer base, drove an impressive 81 per cent rise in the value of e-banking transactions.

“Prudent risk management, cost optimisation, and investments in Digital, Data and Talent, position us well to capitalise on economic recovery. Importantly, we will continue standing by our customers, especially in tough times like the past two unprecedented years,” said Jens Lottner, Techcombank CEO.

Its strong net interest income (NII) and net fee and commission income (NFI) growth drove a 35.4 per cent year-on-year uptick in TOI to VNĐ37.1 trillion. 

Investment banking (IB) service fees, NFI’s largest component, grew 32.8 per cent to VNĐ3.6 trillion, driven by 57.4 per cent growth in bond distribution and 66.7 per cent in other IB services, and broadened products and services monetised a 30 per cent larger customer base.

Bancassurance fees in 2021 grew 88.4 per cent to VNĐ1.6 trillion while operating expenses rose 24.6 per cent to VNĐ11.2 trillion with a cost-to-income ratio of 30.1 per cent.

The bank’s total assets grew 29.4 per cent to VNĐ568.8 trillion on 31 December 2021.

Customer credit on a single basis grew 22.1 per cent year-on-year to VNĐ388.3 trillion – matching the State Bank of Việt Nam’s credit quota

On a consolidated basis, retail loans went up 45.5 per cent to VNĐ161.7 trillion and credit to large corporates and SMEs (loans and bonds) grew 16.6 per cent to VNĐ248.5 trillion.

Term deposits grew by 4.3 per cent to VNĐ155.9 trillion, reflecting balance sheet and funding optimisation.

The bank’s non-performing loan ratio was 0.7 per cent, with a healthy coverage ratio of 162.9 per cent, reflecting its successful management of COVID-19 uncertainties.

By the end of 2021, the bank had 9.6 million customers, having added approximately 1.2 million over the year.

Retail customer transactions last year via e-banking channels grew to 652 million, up 70 per cent. Their value grew 80.5 per cent year-on-year to VNĐ9.1 quadrillion. — VNS