Global Finance honors Techcombank as 'Việt Nam's Top Bank' for the second consecutive year.
Cashing In On Success: Techcombank's Ascendancy in the Vietnamese Banking Sector
HÀ NỘI — Techcombank has once again proven its mettle in the competitive Vietnamese banking market by clinching the coveted 'Best Bank in Việt Nam' title from Global Finance for the second year in a row.
For the second consecutive time, Techcombank has been cited for its impressive financial performance, customer-focused products, advanced digital platforms, and commitment to sustainable growth in Việt Nam.
The Global Finance World's Best Bank awards are renowned as some of the most prestigious accolades in global banking, reinforcing Techcombank's standing among Asia's leading financial institutions.
This year, Techcombank joined a select group of award-winning banks, including China Construction Bank (China), Sumitomo Mitsui Banking Corporation (Japan), Commonwealth Bank of Australia (Australia), and UOB (Singapore).
CEO of Techcombank, Jens Lottner, lauded the achievement, "[Techcombank] being named 'Best Bank in Việt Nam' for the second year in a row by Global Finance puts the Bank among a small group of leading banks in Asia."
In 2024, Techcombank continued to lead the pack in terms of average return on assets (ROA) over the past five years, while maintaining the industry's strongest risk profile. techcombank's customer-centric approach, innovative offerings, and hyper-personalized experiences won the recognition of Global Finance.
Techcombank's 2024 milestones included the launch of a new branch upgrade program and the introduction of Auto-earning Plus, an advanced version of Auto-earning that raised the bar for idle cash interest earnings for individual and SME clients.
To achieve its ambition to rank among Southeast Asia's top banks, Techcombank has been bolstering its partner ecosystem. The bank has been making strides towards an integrated and diversified group, offering financial and non-financial products and services. Global Finance lauded Techcombank's unique real-estate ecosystem developed with Masterise Homes and its wealth management ecosystem with Techcom Securities.
Transactions at Techcombank. This year, Techcombank joined a prestigious group of award winners that included many of Asia's leading banks. - Photo courtesy of the bank
Techcombank plans to meet customers' needs "beyond banking" by expanding its ecosystem into insurance, FMCG, healthcare, and automotive sectors through strategic partnerships. The bank has already established life and non-life insurance companies and collaborated with strategic partners like Masan and Vingroup to shape a leading and diversified ecosystem.
Global Finance recognized Techcombank Mobile as the 'Best Digital Banking Application in Asia-Pacific 2023,' attributing its success to a comprehensive digital financial ecosystem spanning payments, investment, savings, and lending. Techcombank Business was also noted for being the 'Best Integrated Corporate Banking Platform Globally' for enhancing businesses' cash flow, payment, and fundraising capabilities.
Throughout 2024, Techcombank PRIVATE upgraded its entire branch system, digitizing transactions and improving customer experiences acrosstouchpoints. The modernized branches aim to be operational and upgraded by 2029.
Techcombank's dedication to fostering Vietnamese talent and empowering employees to strive for excellence has earned praise from Global Finance. The 'My Own Greatness' culture, promoting individual development and team success, engages Techcombank's workforce and builds a proactive environment.
In 2024, Techcombank intensified its focus on technological innovation, investing in IT, data, and digital talent to create a data-driven culture. The bank's workforce in technology, digital, and data roles has tripled since 2020 and is projected to reach a quarter of its total workforce over the next five years.
Sustainability is an integral part of Techcombank's mission. Techcombank became the first private bank in Việt Nam to introduce a Green Bond Framework and issue a green bond adhering to international standards. Additionally, the bank launched a Visa EcoCard and has been promoting green credit, aiming to reduce carbon emissions and promote sustainable development.
Techcombank is well on its way to realizing its goal of becoming a key player in Southeast Asia's financial landscape, contributing significantly to Việt Nam's sustainable growth and development.
Key Success Factors:
From now until the end of 2029, Techcombank's entire branch system will be upgraded in both design space and operation model to better serve the needs of customers. - Photo courtesy of Techcombank
- Continued growth and recognition: Consistent performance and awards from reputable sources.
- Innovation: Techcombank's customer-centricity, innovative product offerings, and digital innovations set it apart from its competitors.
- Partnerships: Collaborating with strategic partners across various sectors to spearhead ecosystem growth.
- Employee development: Cultivating a culture that fosters individual growth and team success.
On the Horizon:
- Technological Advancements: Techcombank continues to invest in technological innovations to improve operational efficiency and satisfy customers' evolving needs.
- Branch Upgrades: Techcombank's commitment to modernizing its branch network provides customers with enhanced, digitized experiences.
- Ecosystem Expansion: The bank's expansion into new sectors through strategic partnerships positions it for another year of success.
- Techcombank's achievement in being named 'Best Bank in Việt Nam' for the second year in a row by Global Finance underscores its lead in the Vietnamese banking-and-insurance industry.
- Techcombank's financial performance, focus on sustainable growth, and advanced digital platforms elevated it among Asia's leading financial institutions, as recognized by Global Finance.
- In 2024, Techcombank achieved impressive milestones, including launching a branch upgrade program and introducing Auto-earning Plus, a game-changer for idle cash interest earnings.
- To rank among Southeast Asia's top banks, Techcombank has been strengthening its partner ecosystem, offering diverse financial and non-financial products and services.
- Techcombank's strategic partnerships, such as those with Masterise Homes and Techcom Securities, strengthen its unique real-estate and wealth management ecosystems, respectively.
- Techcombank Mobile received the 'Best Digital Banking Application in Asia-Pacific 2023' award due to its comprehensive digital financial ecosystem encompassing payments, investment, savings, and lending.
- Techcombank Business was recognized for offering the 'Best Integrated Corporate Banking Platform Globally,' enhancing businesses' cash flow, payment, and fundraising capabilities.
- Techcombank PRIVATE upgraded its entire branch system during 2024, digitizing transactions and improving customer experiences across touchpoints.
- Techcombank's dedication to nurturing local talent and promoting a culture of excellence has been lauded by Global Finance, making it an attractive employer in the Vietnamese labor market.
- In the technology sector, Techcombank has tripled its workforce in technology, digital, and data roles since 2020, with the aim of achieving a quarter of its total workforce in these areas over the next five years.
- Techcombank's commitment to sustainability includes becoming the first private bank in Việt Nam to issue a green bond adhering to international standards, promoting green credit, and launching a Visa EcoCard.
- With this dedicated focus on innovation, customer-centricity, and sustainability, Techcombank is well-positioned to continue its ascendancy in the Vietnamese banking sector and make significant contributions to Việt Nam's economic and environmental development.
