Vietnam's leading private lender Techcombank books record profit in 2024

By Kha Moc, Hai Yen

Tue, January 21, 2025 | 9:48 pm GMT+7

Techcombank, a major private lender in Vietnam, posted VND27.5 trillion ($1.09 billion) in pre-tax profit in 2024, up 20.3% year-on-year and an all-time high.

According to its 2024 earnings report, Techcombank (HoSE: TCB) earned VND35.5 trillion ($1.4 billion) in net interest income, up 28.2% from 2023. Revenue from services hit VND10.6 trillion ($419.47 million), up 4.4%.

At the counter of Techcombank's transaction office. Photo courtesy of the lender.

Last year, TCB’s current account savings account (CASA) reached a new height of VND231 trillion ($9.14 billion), raising the total CASA at the bank to VND565.1 trillion ($22.36 billion) as of end-2024, up 24.3% from early 2024.

The bank’s net interest margin reached 4.2% on a 12-month average, rising by 20 percentage points year-on-year.

As of end-2024. Techcombank’s total assets stood at VND978.8 trillion ($38.73 billion), a 15.2% increase from the beginning of last year. Its credit surged 20.85% to VND640.7 trillion ($25.35 billion).

The lender’s capital adequacy ratio (CAR) under Basel II went up to 15.3% as of December 31, 2024, and the return on assets (ROA) ratio was 2.4%.

Techcombank attracted over 1.9 million clients in 2024, raising the tally to 15.4 million.

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