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Techcombank reported first-quarter 2026 results highlighted by total operating income of 13.7 trillion VND, up 17.8% year over year, and pre-tax profit of 8.9 trillion VND, setting a new quarterly record. The bank said the performance reflects a flexible strategy and a long-term vision as it moves into a new strategic phase.
Alongside its financial results, Techcombank reported that more than 63% of new retail customers were acquired through online channels. Electronic transactions reached 1.4 billion, up 27.3% year over year. The bank also maintained leadership in digital banking, with digital channels accounting for 15.8% of transactions.
CEO Jens Lottner said the quarter showed positive momentum despite volatile macroeconomic conditions. He noted that capital diversification is a core strategic priority to strengthen the payments backbone and support sustainable, long-term growth.
Techcombank also signed a financing agreement worth 200 million euros with the European Investment Bank to expand funding for green projects, positioning the bank as a leader in sustainable finance and reinforcing its commitment to Vietnam’s development stability.
Net interest income rose to 9.5 trillion VND, up 14.6% year over year. Funding costs increased and competition for deposits narrowed net interest margin to 3.1% for the quarter, while the 12-month NIM remained at 3.7%.
Non-interest income reached a record 3.6 trillion VND, up about 47% year over year, supported by a mature ecosystem. In payments, revenue from letters of credit, cash and payments rose to 1.6 trillion VND, up 158.6%. Card service fees increased to 442.5 billion VND, up 15.4%. FX income grew 25.4% to 349.3 billion VND. Insurance service fees, including bancassurance and the subsidiary’s insurance services, rose 103.4% to 429.2 billion VND.
Operating expenses were 3.87 trillion VND, up 17.8% year over year but down 19.8% quarter over quarter. The cost-to-income ratio was 28.3%. Provisions totaled 935.3 billion VND, down 14.2% year over year. The 12-month credit cost remained at 0.6% and fell to 0.4% after recovery from impairments, indicating tightly controlled asset quality.
Techcombank reported total assets of 1.19 quadrillion VND. On a standalone basis, lending grew 2.89% year to date. Within State Bank of Vietnam credit limits, the bank said it carried out portfolio rotation, including a decline in real estate lending to below 30% for the first time in history, at 28.9%.
Retail and SME lending rose to become the dual engine of credit growth, increasing 33% year over year and 6% quarter over quarter to 395.3 trillion VND. Construction lending grew 72%, focused on major infrastructure projects, while the bank also reported improvements in FMCG, logistics and telecommunications lending.
Unsecured lending grew 159.1% year over year and 14.4% quarter over quarter, reflecting the effectiveness of automated credit decisioning and alignment with market demand. Mortgage and margin lending increased 6.4% and 2.0%, respectively, since the start of the year.
On the funding side, deposits totaled 651 trillion VND, up 14.2% year to date. Despite shifts toward term products driven by high interest rates, the CASA ratio remained high at 37.9%. The bank said this supports funding cost optimization and expansion in upcoming quarters.
Liquidity remained stable, with reserve buffers thickening. As of 31 March 2026, the loan-to-deposit ratio stood at 80.5%, and the share of short-term funding used for mid- and long-term lending was 26.9%, both within regulatory limits.
Basel II capital adequacy ratio rose to 15.2%, up from 14.6% at end-2025, confirming a strong capital base. Asset quality remained robust, with the non-performing loan ratio at 1.16% and NPL coverage at 129.3%.
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