Transactions are carried out at Techcombank. The bank projects lending growth of 35 per cent in 2015. — Photo tinnhanhchungkhoan.vn

HA NOI (Biz Hub) — The Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) has appointed a new General Director.

Murat Yuldashev was appointed to the position during a Techcombank shareholders meeting in Ha Noi on April 18. He has been the Managing Director of the bank since August 2013.

Bank Chairman Ho Hung Anh said: "With many years' experience of undertaking senior management posts at investment companies and large banks abroad, especially in the retail sector, Murat has proven his ability and made a great contribution to building an outstanding business capacity for the bank, as well as our positive business results in 2014."

"The management board has scrutinised this appointment and assessed it as suitable to our development strategy…He is trusted to bring about the best values for shareholders in the future," he added.

Murat Yuldashev. — Photo vneconomy.vn

Murat completed a Master's degree in Physics at Kazakhstan's Almaty Kazakh National University and spent a decade studying science before shifting to banking and securities investment. He garnered significant business experience in Kazakhstan, Turkey and old Eastern European countries afterwards.

Hung Anh said the former acting General Director, Do Tuan Anh, had accomplished his tasks well and will return as a standing member of the management board.

Reports before shareholders stated that Techcombank projected growth rates of 2.35 per cent for deposits and of 35 per cent for outstanding loans this year. Total assets were expected to increase 8 per cent year-on-year to VND190 trillion ($9.05 billion), and pre-tax profits to rise by 41 per cent at VND2 trillion ($95.24 million).

Last year, asset growth was pegged at 10.7 per cent and pre-tax profit growth was 61.4 per cent. The capital adequacy ratio reached 15.65 per cent, much higher than the 9 per cent stipulated by the State Bank of Viet Nam, while the bad debt ratio fell to 2.35 per cent in 2014 from 3.65 per cent in 2013.

Hung Anh said the bank aims to become one of the best businesses in Viet Nam and boost its position to a regional level, and investing in human resources would be crucial for achieving this goal. — VNS