Techcombank is a customer-centric

bank that puts customers at

the centre of everything it does.

About us
08 General information

10 Our vision, mission, core values

12 Shareholder structure and changes in shareholders’ equity

13 The Techcombank journey

16 Branch network and subsidiaries

24 CEO’s story – The journey of happiness

 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 The State Bank of Vietnam (SBV) issued

Business us with Banking Licence # 0038/GP-
NHNN on 6 March 2018. (replaced #
0040/NH-GP issued 6 August 1993)

Registration 0100230800
number
• First registration: 7 September, 1993

• 51st amendment: 12 November, 2019

Chartered capital VND 35,001,399,620,000 Services and business Techcombank was established in 1993, just as Vietnam was – provides convenient service anywhere they may be in
beginning its transition from a centrally-planned to a more Vietnam, while our significant investment in technology
Our principal activities include: market-oriented economy. Techcombank has come a long furthers that convenience 24 hours-a-day with unmatched
Vietnamese dong thirty-five trillion, way since our modest beginnings 26 years ago, when we security. Our customers have embraced our offerings to
one billion three hundred and ninety- started with charter capital of only VND 20 billion. Today we
Collecting short, medium and long-term deposits make us the #1 bank in online and mobile transactions.
nine million, six hundred and twenty are Vietnam’s third largest bank as measured by chartered
thousand. from organisations and individuals.
capital – a success driven by our strategy of focusing on Our mission is to be Vietnam’s #1 bank – catering to the
customers and meeting their evolving needs. daily and long-term financial needs of the Vietnamese
Address Techcombank Tower – 191 Ba Trieu
Street, Le Dai Hanh Ward, Hai Ba Trung people, so we can help them achieve their financial dreams.
Granting short, medium and long-term loans. We provide a broad range of products and services to over
District, Hanoi, Vietnam 7 million retail and corporate customers in Vietnam. Our
• Phone number +84 (24) 3944 6368 constant innovation to improve and expand our service and
product offerings satisfy all our customers’ needs in daily Consolidated total assets as of
Conducting SBV-approved settlement, cash and
• Fax +84 (24) 3944 6395 personal and corporate banking, protection, investments
other banking services.
and wealth management, in order to be their ‘one-stop 31/12/2019

383,699
shop’ for financial solutions and help them achieve their
• Website http://www.techcombank.com.vn
financial security objectives. Our extensive network –
Investments in associates, joint-ventures,
• Stock code TCB companies and bonds and foreign exchange.
including one head office, two representative offices and VND bn
311 transaction offices across 45 cities and provinces
19.5% YoY

8 ANNUAL REPORT 2019 THE JOURNEY OF HAPPINESS 9

www.techcombank.com.vn
 Our vision, mission, core values

VISION CORE VALUES

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

Customer centricity
“Because we only succeed when our customers succeed”

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

To create a positive working environment Collaboration for common objectives

for employees – with opportunities to make “To create collective strength to bring outstanding results
valuable contributions, experience professional to both individuals and the organisation”
growth and enjoy a successful career.

To deliver attractive, ongoing shareholder returns –

driven by sound business strategy, underpinned by Self-development
rigorous, internationally-recognised governance and “To be able to grasp development opportunities within the
risk management practices. organisation”

Work efficiency
“To bring greater success with appropriate resources”

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www.techcombank.com.vn
 Shareholder structure and changes in The Techcombank journey
shareholders’ equity
Techcombank was established in 1993, during the Doi Moi Our success will be measured by how well we complete our
period of economic reform. Like Vietnam’s economy, we’ve transformation and hit our milestones. Continuing our great
Shareholding structure passed through various stages of development in our 26-year achievements in 2018, Techcombank continued to affirm
journey; going from strength to strength. Excitingly, Vietnam’s its leading position by reaching a new record profit before
Shares Shareholding structure domestic economy and financial system are still maturing tax of over VND 12 trillion, welcoming over 1 million new
and our nation presents great opportunity and promise. customers, and becoming the leading bank for operating
The total number of common shares issued by TCB as at Major and other shareholders Around 70% of our largely youthful population of 95 million efficiency. We are confidently moving toward our 2020
31 December 2019 is 3,500,139,962 (equivalent to VND people are unbanked, offering tremendous ongoing targets and firmly continuing our transformation to become
35,001,399,620,000 of charter capital), where: growth potential. the best bank in Vietnam.
15%
Major shareholders:
524,315,499 shares

Other shareholders:
85% 2,975,824,463 shares

Under Article 4.26, Law of Credit Institutions, issued in 2010, years of

3,500,139,962 ‘major shareholders of credit institutions are those who own establishment
outstanding shares directly or indirectly more than 5% share capital with voting and
rights of the credit institution’.
development
Institutional and individual shareholders

Number of unrestricted shares: 44.2% Institutional shareholders:

2,866,892,504 1,545,919,456 shares

Number of restricted shares: Individual shareholders:

633,247,458 55.8% 1,954,220,506 shares

Changes in shareholders’ equity Domestic and foreign shareholders

In 2019, Techcombank’s share capital increased from
VND 34,965,921,600,000 to VND 35,001,399,620,000.
22.5% Domestic shareholders:
Transaction of treasury shares 2,712,779,978 shares

In 2019, Techcombank had no treasury shares transactions. Foreign shareholders:

77.5%
787,359,984 shares
Techcombank holds no treasury shares as at 31 December 2019.

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

• Voted by Techcombank employees • Awarded Vietnam House of the

Bank in Vietnam. as having the best HR and most Year by Asia Risk in recognition of
engaged employees (Employee derivative structuring capabilities,
Engagement Survey), and as the broad swap and hedge product
Techcombank’s success is driven
1993–2010
second-best place to work in offerings, combined with an effective
Vietnam’s banking and finance sector. internal risk management system to
by our shareholders’ belief in us, solve the financial needs of corporate
the commitment of our employees, • Held the inaugural Techcombank Ho customers of all sizes.
Chi Minh City International Marathon
and the Bank’s dedication to – an event to help us connect with • Awarded Best Payments Bank in
continuous improvement. and contribute to our community. Vietnam by The Asian Banker.

14 ANNUAL REPORT 2019 THE JOURNEY OF HAPPINESS 15

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 Branch network and subsidiaries
Our branch network Subsidiaries
At 31 December 2019, our current branch network
consists of: TECHCOM SECURITIES JOINT STOCK COMPANY – TECHCOM SECURITIES (TCBS)

01
Operating licence : 37/GPĐC-UBCK, granted by State Securities Commission on 13/06/19
one head office Floors 10 and 21, Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward,
Address :
Hai Ba Trung District, Hanoi
Nature of business : Securities

02
Chartered capital : VND 1,123,595,510,000
two representative offices
% owned by Techcombank : 89%

311 transaction offices

With its two core business lines, Corporate Advisory and Wealth Management, Techcom Securities (TCBS) has become the
market’s largest securities company in terms of profit. A very successful Wealthtech, TCBS boasts a large, highly-skilled tech

03
development workforce and the driving ambition to be a leading global player in the high tech space.
subsidiaries

TCBS maintained HoSE’s leading position in Techcom Bond Fund (TCBF), distributed by
bond brokerage with an 82.4% market share, TCBS, continued to be Vietnam’s largest
up 0.7% YoY. domestic open-ended bond fund, with
Operating across 45 out of 64 cities and provinces including: 93.5% market share.
128 in the Red River Delta

4 in the Northwest
2019
Highlights TCBS continued winning prestigious awards
TCBS had impressive investment product
including Best Bond House in Vietnam from
revenue growth of 53%. Bond investors and
16 in the Northeast 2017 to 2019 from Alpha Southeast Asia
fund unit investors rose 37% and 106%,
magazine; Best DCM House in Vietnam by
10 in the North Central respectively, with 183% growth in new
Finance Asia magazine; and Best Domestic
securities accounts.
Bond House from The Asset.
18 in the South Central

3 in the Central Highlands

117 in the Southeast

15 in the Mekong River Delta.

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 Branch network and subsidiaries (continued)
Subsidiaries (continued) TCBF maintained a stable bond yield focused on low market risk corporate bonds, unlike other funds that invested mainly in
stocks and government bonds. Over the past three years, TCBF’s unique strategy secured stable bond yields of:
Strong and healthy financial ratios • 8.2% for one year
In 2019, TCBS’s key financial ratios were stable and prudent, TCBS’s 39% return on equity (ROE) put it in the ranks of • 17% over two years
with total assets and revenue growing steadily between 2015 Asia’s top securities companies. Profit before tax hit • 26.7% over three years.
and 2019. VND 1,819 billion, up 19% YoY, while total assets soared
45%, driven by strengthening personal investment products TCBF’s rapidly expanding customer base is expected to attract more investors and grow AUM to USD 1 billion.
including stocks, bonds and investment funds. Net profit
margin remained stable at 67% in 2019.
AUM of bond funds in 2019

Wealth Management – outstanding achievements and growth TCBF – 93.5%

iBond remains a market favourite Market share of corporate bonds in 2019

Leading the corporate bond market in Vietnam, in 2019, Other bond funds 2.0%
TCBS successfully advised and issued VND 60 trillion.
Specifically, more than VND 30 trillion in bonds was VietinBank Bond Investment Fund (VTBF) 0.6%
distributed to individual investors, amounting to 47% TCBS – 82.4% 0.9%
YoY growth. Bao Viet Bond Investment Fund (BVBF)

Vietnam Bond Fund (VFMVFB) 3.0%

Incredibly, from 2014–2019, TCBS distributed over
VND 80 trillion iBond products to the retail market. It’s
Vietnam’s dominant player with 82.4% market share 5.2%
of corporate bonds in the HoSE, helping issue 95% of VCBS A Wealthtech pioneer comprehensively upgrading customer service and experience
Vietnam’s listed corporate bonds. 3.5%
PSI
The strategy of adopting Wealthtech across the business • e-Learning system: Manages online training for TCBS’s
1.8% secured TCBS first place in the digital transformation race. Vietnamese business development partners, iWealth, and
EVS
Simpler processes, procedures and paperwork, alongside RMs/RBOs/CSOs.
1.8% constantly improving service quality and customer experience,
BVSC
5.3% have enticed many new customers. During 2019, innovation • iXu system: Gives customers access to numerous
Others was key to modernising customer care: services, financial utilities, iXu points and loyalty benefits.
Souce: HoSE

TCBF - stable growth despite volatility • e-KYC: Using cutting edge technology to verify personal ID • iWealth Chatbot: This AI innovation serves customers
via biometrics, signature and ID – opening an account has 24/7, advising them on investment products and
TCBF’s iFund distribution volume multiplied 2.7 times from With over 22,720 investors, TCBF grew its assets under never been easier. responding quickly to enquiries.
2018, to VND 18,801 trillion, representing 60% of Vietnam’s management (AUM) by 132% to VND 15,360 billion, and
domestic investment funds. continued to top domestic open-ended funds in Vietnam with • e-Voting: TCBS customers can get meeting invitations
93.5% market share. from the TCInvest system, obtain remote authorisation, and
vote and elect – all online!

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 Branch network and subsidiaries (continued)
Subsidiaries (continued)

VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK –

TECHCOM CAPITAL JOINT STOCK COMPANY – TECHCOM CAPITAL (TCC)
ASSET MANAGEMENT COMPANY LIMITED (AMC)

#0102786255, granted by Hanoi Department of Planning and Investment on Operating licence : 33/GPĐC-UBCK, granted by State Securities Commission on 05/06/19
Operating licence :
18/6/08, 22nd amendment on 03/05/19
Floor 10, Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba
Techcombank Tower, 191 Ba Trieu Street, Le Dai Hanh Ward, Hai Ba Trung Address :
Address : Trung District, Hanoi
District, Hanoi
Nature of business : Fund management
Nature of business : Asset management
Chartered capital : VND 44,943,820,000
Chartered capital : VND 410,000,000,000
% owned by Techcombank : 89%
% owned by Techcombank : 100%

Established in 2008, Techcom Capital (TCC) provides portfolio management and corporate finance advisory services including
Vietnam Technological and Commercial Joint Stock Bank corporate restructuring, fundraising, and Mergers and Acquisitions (M&A).
– Asset Management Company Limited (Techcombank
AMC) takes over the Bank’s bad or overdue debts. With a
300-strong team of young, highly-skilled professionals, it’s
a market leader in debt settlement and asset management.
Techcombank AMC’s remarkable 2019 result with VND 1,080
billion of recoveries made a significant contribution to our TCC’s profit after tax hit VND 149 billion, TCBF enjoyed 93.5% of Vietnamese
stellar overall performance. well above 2019 targets. market share.

This year Techcombank AMC launched a People Excellence

project focused on developing human resources, and worked
on upgrading our debt management system to optimise
2019
settlement processes. In 2020, on top of hitting its financial Highlights
TCC had VND 15,482 billion in AUM, equal
targets, these will remain Techcombank AMC objectives. VND 588 billion units were sold in the
to 58% market share of domestic open-
FlexiCA$H fund, 11.7 times higher than the
ended funds, maintaining the leading
end of 2018 launch.
position in Vietnam.

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 Branch network and subsidiaries (continued) AUM of domestic open-ended funds in 2019

Techcom Capital (TCC)

VND 15,482 billion
Subsidiaries (continued)
32%
Meeting market challenges VietFund Management (VFM)
VND 8,606 billion
2019 was a volatile and challenging year for fund At the end of 2019, TCC had profit before tax of VND 185
58%
management. Despite this, TCC maintained its investment billion, 3.7 times higher than 2018. In Q4 of 2019, profit 2%
VinaCapital (Vinacap)
objectives. Our strategy kept us focused on Vietnam’s before tax grew by 204% to VND 63 billion. In 2019, ROE VND 494 billion
key economic sectors, particularly sustainably developing soared from 45% to 80%. From 2017–2019, profit after tax
enterprises. In 2019, TCBF, managed by TCC, recorded grew at an average of 174%. 2%
Vietcombank Fund Management (VCBF)
growth well above the VN-Index with over 8% net asset value VND 613 billion
(NAV) per fund unit.
3% 3% Other funds
SSI Asset Management (SSIAM)
VND 688 billion VND 930 billion
Investment fund management

Techcom Bond Fund (TCBF) Techcombank’s Flexible Bond Fund (FlexiCA$H) Techcom Equity Fund (TCEF) Techcom Vietnam Real Estate Investment Trust (TCREIT)
Fund type: Open-ended, established in Vietnam Fund type: Open-ended, established in Vietnam Fund type: Open-ended, established in Vietnam Fund type: Listed closed-end, established in Vietnam
Total AUM: VND 15,360 billion as at 31 December 2019 Total AUM: VND 31 billion as at 31 December 2019 Total AUM: VND 90 billion as at 31 December 2019 Total AUM: VND 61 billion as at 31 December 2019
Investment strategy: TCBF aims to create long-term profit Investment strategy: FlexiCA$H aims to maximise profit Investment strategy: TCEF aims for long-term investor profit Investment strategy: TCREIT aims for long-term investor
via principal and yield growth by investing in fixed-income from short-term corporate and individual customer cash through principal and yield growth of (i) securities of industry profit via regular and stable income from real estate and long-
assets, e.g. corporate bonds issued by enterprises with a flow. Investors get a 6% yield from ‘idle money’, commonly leaders or potential leaders (including those with large market term real estate capital growth, based on a flexible, effective
high credit rating, and bonds guaranteed by prestigious deposited at banks at the demand interest rate of 0.5% per capitalisation) and securities issued by enterprises with a real estate strategy. TCREIT invests in fixed-income assets
banks. year, for one or more weeks. high credit rating or guaranteed by prestigious banks, (ii) with good quality credit such as bank deposits, government
Performance: TCBF remained Vietnam’s top domestic Performance: FlexiCA$H focuses on highly liquid assets, potential long-term growth securities and/or securities of bonds, corporate bonds, municipal bonds, top listed HoSE
investment fund in 2019 with 93.5% market share. TCBF’s e.g. term deposits, government bonds and short-term strong players, (iii) high-value securities, and (iv) securities and HNX stocks.
NAV soared 132% YoY to VND 15,360 billion at 30 corporate bonds. VND 588 billion worth of FlexiCA$H fund with a high, stable yield.
Performance: As at 31 December 2019, the Fund’s NAV
September 2019. units were sold over 2019, 11.7 times higher than at the end Performance: TCEF’s active, flexible investment strategy to changed by 2.1% compared to September 30, 2019.
of 2018 launch. counter the fall in the VN-index rewarded it with 6.1% growth in
2019. Its profit ratios ranked sixth out of Vietnam’s 14 open funds.

NAV/fund unit NAV/fund unit NAV/fund unit NAV/fund unit

Year 2018 2019 Growth (%) Year 2018 2019 Growth (%) Year 2018 2019 Growth (%) Year 2018 2019 Growth (%)
NAV/ fund unit (VND) 12,726 13,765 8% NAV/ fund unit (VND) 10,065 10,642 6% NAV/ fund unit (VND) 12,580 13,293 6% NAV/ fund unit (VND) 10,957 12,261 11.9%
Established: 8 September 2015 Established: 5 December 2018 Established: 8 September 2015 Established: 29 June 2016

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 CEO’s story – The journey of happiness

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

Walking along the street recently, I came across a man. He

didn’t look particularly sophisticated and his clothing was C Customers
somewhat frayed. But, from the corner of my eye I noticed,
astonished, that he was busily using the Techcombank
app. It would have been remiss of me to saunter past such
E Employees
an extraordinary market research opportunity, so I politely
engaged him and asked what he thought about it. O Owners

“I think it’s great,” said my new acquaintance. “It’s really fast

and easy for me to use and I can now bank from anywhere, I’m proud to say we are a CEO-focused organisation. And no,
anytime. So much time and hassle saved. And there’s no that does not mean a focus on me. CEO is an acronym that
fees.” Needless to say, his response both delighted me and refers to our focus on our Customers, our Employees and our
provided reassurance that Techcombank is on the right track. Organisation.

Just before our chance encounter ended, the good man left Our focus on meeting people’s needs and the power of
me with a final anecdote that really touched my heart. “With digitalisation are helping change the face of Vietnamese
the money I save on fees, I can now buy my beloved son an banking. We’ve been targeting six consumption-led economic
ice-cream every day.” sectors that account for nearly half of Vietnam’s GDP. And, our
customer centricity is bearing fruit for shareholders too – 2019
This transformative story is literally one of millions that was our fourth straight year of strong, sustainable growth.
forms part of Techcombank’s rapid and proud ascent
toward becoming a customer-centric organisation. Our
customer-centric pivot, to better understand and deliver
what’s important to Vietnamese people, is driven by our
5-year transformation plan. We want our customers to know
they’re at the centre of everything we do. They deserve the Our focus on meeting people’s needs
comfort that comes with choosing a bank that offers them
and the power of digitisation are helping
financial tools to provide for their family and plan a life
closer to their dreams. change the face of Vietnamese banking.

Mr Nguyen Le Quoc Anh

CEO

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 CEO’s story – The journey of happiness
(continued)
Life in Vietnam is busy, whether you’re farming in village The dream of all Vietnamese people is to own their own
fields or dodging motorbikes on your way to a city home and enjoy a new, better life. At Techcombank, we
office. Everyone is more rushed than ever – up early work hard every day to make home ownership a reality
and working hard all day – with few moments to spare. for our deserving customers. We’re there at each stage
Yet, more and more, technology is offering people a creating a feeling of ease and ensuring the process is as
little extra precious time. Cutting-edge solutions and smooth as possible. So many Techcombank customers
innovations are bringing convenience, ease and simplicity now have a place to call home. Their home.
to our crazy busy lives.

Ms Bui Thi Thi Mr Nguyen Dinh Thi &

Individual customer of Techcombank
Mrs Nguyen Hai Yen
M+ customer of Techcombank

With F@st Mobile, I can pay a bill in five

seconds flat! We love our new home, new land and
new life.

Ms Thi works for Vinhomes, a subsidiary of Vingroup. On the It means she only needs to enter one of Techcombank’s Starting a new life is a brave decision and it isn’t always approved within two days!” It was the first time Mr Thi had
go from early in the morning, this busy working mum has little friendly branches when she needs specific assistance. She easy. But, with Techcombank on your side, you’re off to a ever experienced a service that told him what documents
time to go out for dinner with friends, see a movie or spend says, “When I do bank face-to-face, no matter how late in good start. to submit, advised him how long the process would take
special time with her husband and family. Even getting to the day it is; if I need help, I can always rely on Techcombank and, let him check how his application was going, online.
the markets can be a challenge. The last thing she wants to staff. They’re always smiling, full of energy and radiating Mr Thi and Mrs Yen were living in Hai Phong when they “Before this kind of cutting-edge technology, I’d have
do is fight her way through traffic to get her banking done. positivity.” Even so, she still prefers online! saw some incredible photos of their perfect apartment in had to muck about calling branches or consultants for
And that’s where Techcombank’s F@st Mobile has quickly Vinhomes Ocean Park. As one of Vietnam’s most modern updates. And, if they didn’t respond right away, I’d have
become her friend. and exciting new developments, the beautifully landscaped got nervous,” he states contentedly. “With Techcombank, I
Vinhomes Ocean Park lies at the centre of an envied, could check online whenever!”
Before coming to Techcombank, Ms Thi would have to go to cosmopolitan lifestyle. “We fell in love with it straight away,”
10 different ATMs to get cash. There had to be a better way. explains Mr Thi. “I looked at my wife and asked, ‘Why don’t Mr Thi and Mrs Yen love their new home, new land and
“With F@st Mobile, I can pay a bill in five seconds flat!” she we buy this luxurious condo and move?’ ” new life. But most importantly, for them, it provides a
beams. Mobile banking is quick and convenient, and Ms Thi whole different future for their family. Their kids will have
can use it from the comfort of her desk during a work break “So, after a bit of haggling, we decided to do it. experiences that wouldn’t have been possible before and
or at home while her kids are doing their school revision. Techcombank emailed us with the documents we needed the new home offers them a much better place to grow up.
to begin the review process, and the entire loan was The family have never been so happy.

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 CEO’s story – The journey of happiness
(continued)

If people don’t move in the same direction, they get confused, and there are Never-ending transformation
gaps and overlaps; causing frustration and inefficiency.
With phase one of our successful
transformation scheduled to finish in
2020, momentum is already gathering
for phase two. 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.

We’ll keep making people’s lives easier

and simpler. Whether it’s a mobile or
online transaction, we want to save them
time and money. We’ll offer opportunities
for customers to transact when and
wherever they want, with lower fees.
But, seamless transactions are not our
endgame – we’re about developing
long-term, trusted relationships. Through
high levels of customer service, being
trustworthy and providing security, we’ll
guarantee customers stay with us for the
long haul.
Whatever we do – whether it’s an email, providing the best possible experiences,
Part of our transformation program a phone call or a branch transaction, no matter how they bank with us.
means inspiring more than 11,000 the question we always ask is, “Will our
employees to work together strategically customer be better off for this?” It just To ensure we win the battle for talent,
towards shared goals. If people don’t makes good business sense, because we’re developing and retaining only
move in the same direction, they get if a customer succeeds, so do we. the best candidates. Providing our
confused and there are gaps and Their success is our success. more than 11,000 staff with clear
overlaps; causing frustration and career paths motivates them to give
inefficiency. By uniting our workforce We’re really excited about our 100%. Competitive salary increases
around a common purpose, we create progress, but there’s always more to and excellent technical and leadership
the magical synergy we need to produce do. Our customers can expect us to training are worthy investments in both
customer-centric outcomes – today, continue listening, making changes and the future of our valued staff and the
tomorrow and always. Bank itself.

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 CEO’s story – The journey of happiness
(continued)
In September 2019, Techcombank won Employer Ms Mai Thu Thao has been with Techcombank for
of the Year – Banking at the Stevie Awards. 14 years and currently heads our Centre of Credit
This prestigious international award is the Administration (CCA) within the Business Banking
business equivalent of an Oscar and reflects our Division. “To me, Techcombank is my second home”, Ms
commitment to outstanding employment policies, Thao says. “During my time with the Bank, I’ve enjoyed
individual satisfaction and inspiration. a front row seat as we’ve journeyed towards becoming a
leading Vietnamese business.”

Ms Phan Thi Hong Loan

Relation Manager Ms Mai Thu Thao
Customer Services and Financial Advisory Division Head of Centre of Credit Administration
in Business Banking Division

Techcombank actively encourages me

to be clear about my career aspirations and
what I need to achieve them. Techcombank offers lots of things other
companies can’t.

“Over the 10 years I’ve been with Techcombank, I’ve always Even after a decade with Techcombank, Ms Loan is as The seamless coordination between Ms Thao’s team and Does Ms Thao believe Techcombank is a good place to work?
felt really supported,” starts Ms Loan. When she joined enthusiastic as she was when she started. She still loves the bricks-and-mortar branches generates great outcomes
Techcombank, Ms Loan was a one-woman team but the her workplace. “Techcombank just never sits still. It’s always for customers and the Bank every day. Her team also works “Definitely! Techcombank offers lots of things other companies
cooperation and help she got from other staff members made transforming itself for the betterment of customers. When I closely with Relationship and Customer Service managers to can’t. We’re encouraged to be creative in deciding how best
her feel at home immediately. Seamless coordination with graduated, I got two really good job offers. My uni mentor understand what our customers need and how we can give it to serve our customers, the leadership here is inspiring and
branches ensures her retail and corporate customers always urged me to take up the Techcombank position because of to them. celebrates dynamism and innovation, and my work colleagues
get the most comprehensive, tailored service solutions. its reputation as innovative and dynamic,” Ms Loan reveals. are devoted and friendly.” Ms Thao thinks for a minute, then
According to Ms Loan, Techcombank’s innovative services, During 2019, the CCA team was busy automating operations, adds, “And we’re actively encouraged to enjoy a good
Importantly, Techcombank actively encourages Ms Loan to digital options and smarter workflow also free her up to focus building data sources, optimising data and making various work-life balance.”
be clear about her career aspirations and what she needs to on customer needs. other efforts to simplify operational processes. “For me, a
achieve them. Ms Loan’s managers also pay close attention highlight in 2019 was the team’s work with the Business
to her work so they know what coaching they can offer The Bank’s commitment to making a positive contribution Banking Centre (BBC) to reduce the time it takes to complete
her. “Having clearly mapped career development stages to communities through philanthropy, advancing diversity a guarantee service-level agreement from 105 minutes to an
motivates staff to devote ourselves to the company and and inclusion, and creating economic opportunity is really hour.” CCA initiatives have grown Techcombank’s efficiency
work really hard,” says Ms Loan, who just graduated the import to Ms Loan. The dedicated Ms Loan works closely and productivity, shortened customer transaction time, and
TechcomLead course. At first, Ms Loan wondered why her with a wealthy philanthropist, who brought all her money to provided many other advantages.
boss was making her attend when she had so many other Techcombank because of the Zero Fee program. Now Ms
things to do. “But it was so worth it! It taught me how to Loan gets to see what good can be done, first hand. “It’s
better manage my workload to hit targets and goals. I also simple maths. The money our charitable customer saves on
learnt a lot about leadership, and how a positive approach fees, she can give to people in need. I feel like I’ve played a
creates great outcomes,” she explains. role helping my client assist those in need. It’s so rewarding.”

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Helping businesses be better Digitalising and automating

Small to medium enterprises (SMEs) are the engine room of 18,000 customers had benefited from Zero Fees. Incredibly Businesses have been facing technological challenges for
the Vietnamese economy – when they thrive, we all thrive. half these customers were added since September 2018. centuries. Even before Alexander Graham Bell won the first
But to succeed in business, you must be able to act fast, and Other banks are inspired by what we do – many of them are US patent for the telephone in 1876, companies grappled
adapt to evolving consumer needs. With that in mind, we’ve following our lead and also waiving transfer fees. with the relentless march of technology – transforming
streamlined numerous SME processes – simplifying credit processes, products, and customers’ expectations of
approvals, letters of credit, letters of guarantee and loan Just to prove how dedicated we are to market leadership … convenience. For 21st century banks, the underlying theme of
disbursement to within three hours. Making banking easier Since February 2020, all SME and corporate customers using our the disruptions and challenges is digitisation and automation.
for SMEs improves business efficiency and productivity. digital banking solutions, have been enjoying preferential foreign Techcombank’s survival will depend on how we deal
exchange rates and overseas remittance fees interest on their with these.
We’re always looking at how to help businesses reduce current account balances. This offers businesses more freedom
operating costs. Our Zero Fees policy for electronic to run things the way they’d like to, and is a big encouragement We know we must adapt to a rapidly digitalising world or
account transfers has been in place for over three years. to those operating in government priority industries. This perish. But, it’s even more important that Techcombank
By September 2019, three years into the program, over tiered interest rate offering is in addition to Zero Fees. provides customers with solutions and tools to transact
online, because limiting cash transactions is SBV policy. So,
we’ve been doing everything we can to accommodate the
digital shift in the way people transact. For us the future is
here – the environment is dynamic and we’re well placed to
ride the technological wave, making customers’ lives easier.

Going digital means an opportunity to really rethink things,

and we’ve reinvented the entire customer experience journey
from start to finish. Before our mobile app, you had to visit
a branch, using time you never get back! We’ve made it
possible for people to stay home and make a phone call,
or sip tea while they bank. It’s all part of making customers
financial lives easier, smoother, more convenient and Techcombank’s e-channel transactions – an astonishing shift
lower cost. No wonder we’re seeing significantly improved in customer behaviour. And, we’re attracting about 200,000
customer experience and satisfaction. new retail customers a month.

Our M+ product brings together a retail mortgage and loan Advanced technology allows millions of transactions to
application and was one of the first innovative things we be processed in a matter of seconds. Our goal now is to
did as part of our early digitisation and automation phase. digitise and automate all customer experiences so they’re
M+ has shortened the application process to 200 minutes; faster, better and more convenient. This stretches across
loans can be approved within four days and customers the decision-making process, risk management, customer
can access and manage their loan profiles online. They can service and more. We commit at least 10% of our budget
even get a credit card approved online within 15 minutes! In each year to making sure our equipment is always cutting
the past three years, there’s been a twentyfold increase in edge and that we’re leading Vietnam’s banking revolution.

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A lot of us are committed to jobs that involve intense, Over the past 15 years, Thien Thao Pharmacy has grown
long hours. A full weekend to do nothing but relax rapidly, in parallel with the steady rise of Techcombank
can seem like a distant, unachievable dream. But at as a leading Vietnamese bank. Our swift digital
Techcombank, technology is actively freeing-up precious transformation has gifted our many business customers
moments for our busy customers. Our time-saving multiple opportunities for efficiencies they could not
solutions make lives easier and transactions more achieve with other banks.
convenient. And all this via our app!

Mr To Truong Quyen
Ms Cao Thi Mai Tram CEO of Thien Thao Pharmacy
Director of Le Ngoc Logistics Joint Stock Company

Online payment makes things so

While Techcombank is undeniably convenient. In the past, I had to sign
a leader in so many ways, it’s my digital cheques every day, while my staff went
experience with the Bank that makes it a back and forth to the bank – it was
winner in my eyes. time-consuming stuff.

Ms Tram, a business woman, has been with us since 2010. are now very fast and convenient,” says Ms Tram. For her, the Thien Thao Pharmacy began trading in 1995 and has had an Thien Thao Pharmacy has worked with a few banks, but
She’s had the unique experience of seeing Techcombank Bank’s greatest strength is its customers focus. “This is best incredibly successful growth trajectory. Its CEO, Mr Quyen, at 15 years, its relationship with Techcombank is by far the
from both sides – as an individual and a corporate. “I couldn’t demonstrated by things like the Zero Fee program. Hardly any started with around 10 people, and today has about 200 longest and best. For Thien Thao Pharmacy, the success of a
be happier with the service, especially when it comes to the other lender has been able to offer this! I rarely need to visit employees. In the next five years, Thien Thao Pharmacy bank is determined by the excellence of its services, and the
amazing digital innovations,” reveals Ms Tram. a branch, and I’m always notified of new, useful solutions,” wants to become a leading company in the distribution quality of its smart and capable staff.
effuses Ms Tram. and marketing of pharmaceuticals; both domestically and
“Transacting with Techcombank is almost seamless,” smiles internationally. Mr Quyen also plans to expand into, other Looking ahead Mr Quyen expects to maintain a close
Ms Tram. “Techcombank staff will prepare all the documents Ms Tram mainly deals with Ms Loan, a Relation Manager sectors. relationship with Techcombank, creating greater value for
in advance, saving me heaps of time and hassle. Things are at Techcombank, who she says takes great care of her. “If both parties, in the perfect win-win scenario.
always fast and efficient.” I have some idle money, Loan will quickly direct me to a As Thien Thao Pharmacy grows, being able to take out loans
Techcombank product that maximises my return.” Needless with reasonable fees supports them in bid guarantee and
By consulting customers at every turn, the Techcombank to say, Ms Tram has happily referred Techcombank to lots of salaries. “Techcombank understands our credit needs and, in
team has developed an impressive number of product her friends. They’ve also made the shift and felt satisfied. cases where we’ve overstretched a bit and exceeded credit
offerings with a strong value proposition. Ms Tram uses limits, we’ve resolved it together. It’s a great feeling to know
several different products and services – from credit, to our While Techcombank is undeniably a leader in so many that Techcombank staff listen to customers and do all they
savings accounts and even our bond investment service. ways, it’s Ms Tram’s digital experience with us that makes can to reach mutually acceptable solutions,” says Mr Quyen.
Every single choice she makes is available on our app! us a winner in her eyes. Ms Tram sums up her satisfaction,
“Techcombank’s technology is leading-edge stuff and helps “Online payment makes things so convenient. In the past, I
According to Ms Tram, since joining Techcombank, she’s seen me with notifications and alerts. I can access all the services had to sign cheques every day, while my staff went back and
significant improvement in the Bank’s relationship managers I need on the app and make immediate transfers no matter forth to the bank – it was time - consuming stuff. And, we
and processes. “Manual procedures have become digital and where I am in the world.” no longer have to wait for the branch manager to be free to
handle every single payment!”

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Financial highlights for 2019 Looking ahead
Vietnam’s developing economy is
As the Vietnamese proverb goes, ‘if you put in the work to Some of our 2019 financial highlights include:
improving everyone’s well-being.
sharpen the steel, it will eventually turn into needles’. In other
As a core element of the economy,
words, patience and persistence are key to achieving the banking system in general and
your goals. ROA: 2.9% Techcombank in particular have a
responsibility to lead the changes
Exposure demographics are everything in the Vietnam story: that drive economic success.
95 million (mostly young) people, a trend to urbanisation, And to us, success means the
and a growing middle class. Techcombank has strategically Total operating income: VND 21,068,145 million happiness of our customers, their
moved from commercial to retail lending services and families and the community. It’s
meeting key customer needs. It’s a good way of gaining the result of concerted efforts –
exposure to this macro theme. A large percentage of our nothing extraordinary comes from
customers don’t need to borrow, so a lending relationship Profit before tax: VND 12,838,268 million half-hearted attempts. We want
isn’t necessary – it’s more transactional. But everyone needs to be there with every one of our
to transact, so we’re increasing transactional relationships, customers, step by step, as they
focusing more on services. Over the next two to three years take their own financial journey to
Profit after tax : VND 10,226,209 million success. Importantly, our focus on
we expect retail lending to grow from 40% of total loans
to 50%. in-country consumption, combined
with Vietnam’s rapid growth, will
Credit in Vietnam has been growing at nearly 14% annually continue to protect Techcombank
Current and savings account ratio: 34.5% from the fluctuations of foreign
for the past two years, driving strong profit growth for banks.
economies and the fall-out from trade wars.
Private banks can pick and choose which sectors and
regions they enter. We’re taking strategic advantage of these
For our many investors, Techcombank offers a leading ‘One swallow doesn’t make a spring’. I would like to thank Nothing extraordinary comes from
growth opportunities and entering sectors that touch people the Board, the management team, and all our staff for
every day – fulfilling specific customer needs. Our success opportunity to ride the wave of Vietnam’s stellar GDP half-hearted attempts.
the enormous and ongoing efforts they make to secure
is reflected in our results. Among Vietnamese banks we are trajectory. We’re ahead of the sector on most metrics and
Techcombank’s growth and future. It’s a privilege to have
sixth in total assets, second for profit, and first in ROA. We’ve are the cleanest bank to get into. Corporate governance is
served throughout phase one of our transformation and their costs and saving them time. To get there, we must ‘Be
achieved our goal of being Vietnam’s most efficient bank two also a priority and we’ve been a pioneer in transparency.
we’re excited to be laying-out our forthcoming 2021–2025 Greater’ everyday.
years ahead of schedule. We also enjoy a compound annual We became Basel II compliant on I July 2019 and have been transformation plan. We’re committed to being Vietnam’s
growth rate (CAGR) of 20–30% per year. IFRS9 compliant since June 2018. Our CAR is always twice best bank. Finally, I would like to thank our shareholders for their
the level required by the SBV. Few banks in Vietnam are unyielding support. We remain optimistic about the Bank’s
as advanced. Techcombank’s next transformation plan will be rolled out prospects and will continue to strengthen our capabilities,
between 2021 and 2025. Our aim, as always, is to be the #1 and to invest in technology and human resources to deliver
bank in Vietnam – empowering our customers, minimising growth, performance, and value creation.

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