9 digit bank account number

Illustrative image It is being seen that private banks have now put in place many breakthroughs in business plans and are even preparing to overtake the strong performances of commercial banks in the Big 4 Group. Race for profits Vietcombank has just released its consolidated financial statement for the first quarter of the year, showing a pre-tax profit of more than VND9.95 trillion, which is an increase by 15.3 percent. However, in the first quarter, Vietcombank lost its former place as the number one champion. The private joint stock commercial bank, Vietnam Prosperity Joint Stock Commercial Bank (VPBank), has managed to push Vietcombank to second position. According to its consolidated financial statement for the first quarter, VPBank showed a profit before tax of VND11.14 trillion, up by 178 percent over the same period last year. The third and fourth positions are now being held by Techcombank which showed a profit of more than VND5.52 trillion, and Military … [Read more...] about Private banks coming strong against state-owned banks

Hanoi-headquartered Techcombank recorded another year of stellar financial performance and growth in 2021, while continuing to support its customers, employees and communities in Vietnam, especially those impacted by the Covid-19 pandemic. In 2021, the bank recorded VND37.1 trillion (over $1.6 billion) in its total operating income, up 35.4 percent year-on-year. The bank’s profit before tax (PBT) rose to VND23.2 trillion. The company has achieved double-digit PBT growth for five consecutive years, at a compound average growth rate (CAGR) of 50 percent between 2016 and 2021. The bank’s performance remained resilient despite Covid-19 casting its shadow on the local markets and causing disruption to businesses and people’s lives. Techcombank grew its total assets by 29.4 percent, to VND568.7 trillion, and delivered an "industry-leading" return on its assets of 3.7 percent, according to the bank. It has also been able to maintain an impressive current account and savings account … [Read more...] about Digital, data and human excellence key components in Techcombank’s transformational journey

Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us to deliver stellar performance year after year,” said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a “stable and cheap” source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks