Techcombank plans 10% stake issue to foreign strategic investors

Techcombank plans 10% stake issue to foreign strategic investors

Major Vietnamese private lender Techcombank plans to issue a 10% stake to overseas strategic investors, given its current self-capped foreign ownership of 22%, said chairman Ho Hung Anh.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank wins two Stevie Awards for brand development, marketing excellence

Techcombank wins two Stevie Awards for brand development, marketing excellence

Vietnam's private lender Techcombank was named the winner of two Stevie Awards for Innovation in Brand Development and Most Innovative Marketing Team of the Year in the 11th annual Asia-Pacific Stevie Awards.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank named Best Bank in Vietnam by Global Finance

Techcombank named Best Bank in Vietnam by Global Finance

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has been named the “Best Bank in Vietnam” by U.S.-based financial publication Global Finance, at its 31st annual awards for the World’s Best Banks.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

USD rate passes VND25,000 milestone at top Vietnam lender Vietcombank

USD rate passes VND25,000 milestone at top Vietnam lender Vietcombank

Vietcombank, the largest Vietnamese lender by market capitalization and foreign exchange transactions, increased its USD buying and selling rates to VND24,790 and VND25,130 Wednesday afternoon.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Moody's upgrades outlook of Techcombank in 2024 to 'stable'

Moody's upgrades outlook of Techcombank in 2024 to 'stable'

Moody's Ratings has revised the outlook of Techcombank from negative to stable, the U.S. credit rating agency said Wednesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank's 2023 net profit drops 10% to $731 mln

Techcombank's 2023 net profit drops 10% to $731 mln

Major Vietnamese private lender Techcombank reported VND40.06 trillion ($1.63 billion) in total income and over VND18 trillion ($731.4 million) in net profit last year, down 1.2% and 10.4% year-on-year, respectively.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's Big 4 banks cut deposit interest rates to below 2%

Vietnam's Big 4 banks cut deposit interest rates to below 2%

Deposit interest rates at four state-controlled banks in Vietnam, namely Vietcombank, Agribank, BIDV and VietinBank, have dropped to below 2% for some terms as the banking sector continues to cut interest rates.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Vietnam bank deposits hit record high of $522 bln at end-September amid lowering rates

Client deposits at credit institutions in Vietnam reached a record high of VND12,680 trillion (circa $522 billion) as of end-September, rising 7.28% from end-2022, data from the central bank showed.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank reduces exchange rate to three-month low

Vietnam central bank reduces exchange rate to three-month low

The State Bank of Vietnam (SBV) decreased the central exchange rate to VND23,954 per U.S. dollar Monday and further to VND23,915 Tuesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Large US businesses interested in investing in Vietnam: Warburg Pincus exec

Large US businesses interested in investing in Vietnam: Warburg Pincus exec

Warburg Pincus, one of the leading U.S. investment funds, will further expand its investment portfolio in Vietnam, and many other large American businesses are also interested in the Vietnamese market, said CEO Charles Kaye.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank's new twin headquarters in Hanoi, HCMC: A bright future built on a legacy

Techcombank's new twin headquarters in Hanoi, HCMC: A bright future built on a legacy

In celebration of its 30th anniversary this September, Techcombank has unveiled two new headquarters, located at 6 Quang Trung street, Hanoi and 23 Le Duan street, Ho Chi Minh City.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank turns 30, fetes sustained entrepreneurial spirit and constant renewal

Techcombank turns 30, fetes sustained entrepreneurial spirit and constant renewal

Techcombank has always done things a bit differently, with more daring, says CEO Jens Lottner as he reflects on the Vietnamese bank’s 30-year journey and the future it envisions.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Exchange rate inches up at Vietnam central bank, falls at commercial banks

Exchange rate inches up at Vietnam central bank, falls at commercial banks

The State Bank of Vietnam (SBV) raised the central exchange rate from VND24,088 to VND24,089 per U.S. dollar on Friday, another record high, but the rates at commercial banks moved in the opposite direction.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam currency slides to all-time low against USD

Vietnam currency slides to all-time low against USD

The Vietnamese dong has continued to devalue against the U.S. dollar to a new low, with the greenback remaining strong ahead of a Federal Reserve (Fed) policy meeting.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Central exchange rate hits all-time high of VND24,036

Central exchange rate hits all-time high of VND24,036

The State Bank of Vietnam (SBV) increased the central exchange rate to VND24,036 per U.S. dollar on Friday, another record high.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Central exchange rate tops VND24,000, an all-time high

Central exchange rate tops VND24,000, an all-time high

The State Bank of Vietnam (SBV) increased the central exchange rate to VND24,005 per U.S. dollar on Monday, a record high.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

USD price hits another year-peak in Vietnam

USD price hits another year-peak in Vietnam

The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,963 per U.S. dollar on Tuesday, pushing the rate to a new record high in the year to date.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank chairman's daughter registers to buy 82 mln shares

Techcombank chairman's daughter registers to buy 82 mln shares

Ho Thuy Anh, the daughter of Techcombank chairman Ho Hung Anh, has registered to buy over 82 million TCB shares as a personal investment.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Greenback cools with new central bank reference rate

Greenback cools with new central bank reference rate

The State Bank of Vietnam (SBV) cut the central exchange rate to VND23,946 per U.S. dollar Friday, soon after the dollar rose to VND23,951, the highest so far this year.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam banks cut six-month deposit rates to 7%

Vietnam banks cut six-month deposit rates to 7%

The six-month deposit interest rates at banks in Vietnam, barring some outliers, fell to a maximum of 7% starting Wednesday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank raises USD price to year-high VND23,881

Vietnam central bank raises USD price to year-high VND23,881

The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,881 per U.S. dollar on Tuesday, pushing the rate to its highest level so far this year.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Six lenders join Apple Pay launch in Vietnam

Six lenders join Apple Pay launch in Vietnam

Six Vietnamese banks have joined the Vietnam list of lenders supporting Apple Pay of Apple as the American tech giant launched the payment service in the country on Tuesday.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam central bank raises USD price to VND23,825, close to year-high

Vietnam central bank raises USD price to VND23,825, close to year-high

The State Bank of Vietnam (SBV) increased the central exchange rate to VND23,825 per U.S. dollar on Friday, bringing the rate close to the highest level this year at VND23,833 on July 7-8.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank winning formula: digitalization, data-driven approach, talent management

Techcombank winning formula: digitalization, data-driven approach, talent management

Techcombank, amidst economic headwinds, has strategically navigated the dynamic financial market through its core pillars of digitalization, data-driven approach, and talent management. Alexandre Macaire, CFO of Techcombank, shares insights into the organization's journey, successful strategies, and ambitious five-year goals.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank spearheads financial innovation, deepens regional footprint

Techcombank spearheads financial innovation, deepens regional footprint

Vietnam’s leading private lender Techcombank is spearheading financial innovation by fostering strategic partnerships, embracing digital transformation and prioritizing talent acquisition.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

12 wide-ranging agreements set to bolster Vietnam-Singapore ties

12 wide-ranging agreements set to bolster Vietnam-Singapore ties

Twelve MoUs signed Friday at the Singapore Regional Business Forum in Hanoi creates a framework for boosting wide ranging Vietnam-Singapore relations, senior officials say.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Top national awards vindicate Techcombank growth strategy: CEO

Top national awards vindicate Techcombank growth strategy: CEO

Winning FinanceAsia’s latest Best Bank and Most Innovative Use of Technology in Vietnam awards vindicates Techombank’s growth strategy and the talent of its employees, the bank’s head honcho says.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank sponsorship of Singapore business forum underlines regional, national prominence: CEO

Techcombank sponsorship of Singapore business forum underlines regional, national prominence: CEO

Techcombank’s support for the upcoming Singapore Regional Business Forum (SRBF), which marks milestones in Vietnam-Singapore ties, highlights the lender’s rising status in the country and region, says CEO Jens Lottner.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank confident of ambitious 2025 targets: CEO

Techcombank confident of ambitious 2025 targets: CEO

Techcombank, one of Vietnam’s leading private lenders, is confident of achieving its ambitious 2025 targets despite global headwinds, said CEO Jens Lottner.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's central bank cuts US dollar rate to VND23,622

Vietnam's central bank cuts US dollar rate to VND23,622

The State Bank of Vietnam reduced the central exchange rate to VND23,622 per U.S. dollar on Friday, from VND23,635 on Thursday and VND23,639 on Wednesday, after the U.S. Fed raised its benchmark overnight interest rate by a quarter of a percentage point to 5-5.25%.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Conglomerate Masan's net revenue up 3% to $800 mln in Q1

Conglomerate Masan's net revenue up 3% to $800 mln in Q1

Leading Vietnamese conglomerate Masan Group, listed on the Ho Chi Minh Stock Exchange (HoSE) as MSN, recorded a net revenue of VND18.71 trillion ($797.4 million) in 2022, up 3% year-on-year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's corporate bond market on road to recovery: Techcombank chairman

Vietnam's corporate bond market on road to recovery: Techcombank chairman

Vietnam's corporate bond market is set for a revival thanks to the government's Decree 08, and Techcombank views the news as an opportunity, said the private lender’s chairman Ho Hung Anh.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

State Bank of Vietnam lowers central rate to VND24,600 per dollar

State Bank of Vietnam lowers central rate to VND24,600 per dollar

The State Bank of Vietnam brought the central exchange rate down to VND24,600 per U.S dollar on Monday, from VND24,603 last Friday.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Techcombank targets $938 mln profit in 2023

Techcombank targets $938 mln profit in 2023

Techcombank, one of Vietnam’s leading private lenders, expects consolidated pre-tax profit of VND22 trillion ($937.6 million) in 2023, down 14% year-on-year.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7

Moody’s downgrades Techcombank ratings, changes outlook to negative

Moody’s downgrades Techcombank ratings, changes outlook to negative

Credit rating agency Moody’s has downgraded the long-term deposit and issuer ratings of Techcombank and changed the outlook from stable to negative due to the bank’s high exposure to the struggling real estate sector in Vietnam.

Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7