Techcombank Reports Record Q2 Earnings Driven by Diverse Growth Strategies

Vietnam's Techcombank has announced a record profit for the second quarter of 2026, reaching 9.67 trillion VND, marking a 22.4% increase compared to the same period last year. This achievement underscores the bank's sustainable growth and diversified income strategies, according to CEO Jens Lottner.

In the first half of 2026, Techcombank's total operating income rose to 28.6 trillion VND, a 17.5% increase year-on-year. The bank's net interest income also saw significant growth, reaching 20.3 trillion VND, up 16.3%. This positive trend is attributed to adjustments in interest rates and a focus on high-yield credit assets.

Service income emerged as a key growth driver, with a remarkable 37.6% increase, totaling 7.6 trillion VND in the first half. In Q2 alone, service income set a new record at 4.2 trillion VND. Notably, income from letters of credit and cash management surged by 152.4%, contributing 3.3 trillion VND during the first six months.

“We have built a solid operational foundation that can effectively respond as our business scale expands.”Jens Lottner, CEO of Techcombank

Techcombank's insurance segment also performed well, with a 122% increase in revenue to 1 trillion VND, bolstered by the comprehensive operations of Techcom Life. The bank's investment banking services demonstrated a strong recovery, with nearly 83% growth in Q2 compared to the previous quarter, driven by active bond issuance and advisory services.

Despite aggressive expansion, Techcombank maintained operational discipline, keeping its cost-to-income ratio at a manageable 30.9% in Q2. Operating expenses totaled 8.49 trillion VND, reflecting significant investments in technology infrastructure and high-quality human resources. The bank also reduced its provision for risk by 24.6% to 1.59 trillion VND, indicating effective risk management alongside growth.

As of June 30, 2026, Techcombank's total assets expanded to 1.27 quadrillion VND, with credit growth reaching 14.3% year-to-date. The bank's lending portfolio focuses on essential sectors such as fast-moving consumer goods, retail, logistics, utilities, entertainment, and tourism.

Customer deposits increased by 4.8% from the beginning of the year, reaching 697.4 trillion VND. The bank's competitive edge lies in its current account savings account (CASA), which accounted for 38.3% of total deposits, amounting to 267 trillion VND. While there was a slight shift among individual customers towards term deposits, CASA deposits from corporate clients grew by 23% year-to-date.

“The record growth in service income reflects our commitment to diversifying revenue streams and enhancing operational efficiency.”Jens Lottner, CEO of Techcombank

Techcombank's balance sheet remains strong, with a loan-to-deposit ratio (LDR) of 80.1% and a capital adequacy ratio (CAR) of 15%, well above regulatory requirements. The bank's non-performing loan (NPL) ratio stands at a low 1.15%, with a coverage ratio of 125.5%, showcasing its robust risk management framework.

The bank's digital transformation strategy has significantly enhanced customer engagement, with approximately 66.3% of new customers joining through digital channels. In the first half of 2026, Techcombank recorded 2.8 billion transactions via retail electronic banking, a 16.3% increase compared to the previous year.

Techcombank's strong financial performance and commitment to innovation have earned it several prestigious awards, including being named 'Best Bank in Vietnam' by FinanceAsia for the fourth consecutive year. This recognition reflects the bank's effective use of data and artificial intelligence to enhance customer experiences and its leadership in shaping a modern, comprehensive financial ecosystem in Vietnam.