Techcombank, 20 percent held by HSBC, said its loan to deposit ratio was 44 percent and bad debts at 2.6 percent in the first nine months of this year.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank)’s loan to deposit ratio was 44 percent and bad debts at 2.6 percent in the first nine months of this year compared with 80 percent LDR cap and 3.04 percent bad debts in the whole banking system, the lender said in a press conference held on September 27 on the receipt of three awards: “Vietnam’s Best Bank in 2011″, “Best Cash Management Bank in Vietnam in 2011″ and “Best Trade Finance Bank in Vietnam in 2011″, becoming the first Vietnamese bank to receive the three international awards of FinanceAsia.
As of September, 2011, Vietcombank’s chartered capital was VND 9,000 billion, preserving the bank’s position as one of three leading banks in the group of non-state joint stock commercial banks.
The unlisted lender has capital adequacy ratio (CAR) at 12.3 percent, higher than 10.1 percent last year and even far above the regulated level of 9 percent.
As of May 6, 2011, Techcombank’ total assets increased by 18 percent to VND 177,000 billion, pre-tax profits of VND 1,500 billion, up 50 percent on year. Total number of individual customers arrived at over 2 million, up 38.8 percent while corporate customers rose by 31.4 percent over the same period in 2010.
Nguyen Duc Vinh – CEO of Techcombank – said that in its five-year business strategy (2009-2014), the bank set target growth rates of 34 percent for total assets, 35 percent for profits after tax and 25 percent for chartered capital.