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1H Results
Techcombank followed their business plan by fulfilling 52% 2022 profit target. Credit increased by 7.1%ytd (8.5%ytd in bank separate). 6M PBT was recorded at VND 14.1trn, +22.3%yoy. TOI reached VND 21.1trn, + 16.6%yoy.
The bank remains as one of the most effective banks in the system with ROA and ROE of 3.6% and 21.0%% respectively.
Improving asset quality. NPL ratio was reduced to only 0.4% while its exposure in restructured loan was down to VND 500 bn from VND1.6trn last quarter. Provision expenses decreased by over 50%yoy.
COMMENTS
TCB’s core lending business was affected by interest rate hike and the gloomy bond issuance market. Credit growth limit also posed a negative impact on bank’s profit growth. With those movements, NIM of the bank may slightly decline to 5.4% for the full year. Despite that, positive activities in credit card, banca and the expected IB recovery in alien with lower provision expenses burden will support the bank to fulfill its business target in 2022.
09/04/2024
In 2023, NTL recorded net revenue of 914 billion VND, an increase of 133.6% yoy, reaching 131% of the annual plan. Profit before tax in 2023 reached 461...
01/11/2023
BUSINESS RESULT UPDATE Credit growth in the first 9 months of the bank was only 4%ytd, lower than the sector average growth rate and the lowest among banks....
26/10/2023
BUSINESS RESULT UPDATE Credit in the third quarter improved compared to the first two quarters of the year, bringing the bank’s total credit growth...