Techcombank named best bank in Viet Nam 2018

Wednesday, Sep 19, 2018 13:51

Techcombank representatives receive the best bank award from Euromoney. — VNS Photo

Techcombank has been named “Best Bank in Viet Nam 2018” by the financial publication Euromoney’s “Awards for Excellence 2018”.

According to Euromoney, Techcombank earned the award as a result of the bank’s outstanding performance across all areas under consideration including sustainable development, business performance, risk management, information technology, management quality, and contributions to the local financial and banking market. Other criteria included total revenue, total assets, pre-tax profit, and net income.

The “Awards for Excellence” are among the world’s most highly acclaimed honours in recognition of superior banking performance in the industry. There are more than 20 categories for international awards, and the “Best Bank” awards are presented to leading banks in nearly 100 countries.

The awards celebrate institutions and individuals for their leadership and commitment to outstanding development in their respective markets. Euromoney considers both qualitative and quantitative factors in bestowing the awards to ensure fairness and to enable the banks to showcase their strengths.

“We will continue to invest in long-term development of our team members, and leverage technology to service and delight our customers. Finally, investments in technology and people development will enhance our risk management and operational effectiveness, which will enable us to maintain and extend our market leadership position,” Techcombank CEO Nguyen Le Quoc Anh said.

At the end of the first half of 2018, Techcombank reported return on average equity (ROAE) and return on average assets (ROAA) of 24.3 per cent and 3.2 per cent, respectively based on the previous 12 months.

The bank’s total operating income (TOI) rose by 20.1 per cent compared to the same period last year with non-interest income contributing 41.7 per cent of TOI. — VNS

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