Techcombank posts double digit growth in profits

The nation’s largest private lender by assets said in its latest financial report that the profit increased as credit risk provision halved to VND917 billion ($39.6 million) last year.

While the bank’s credit activities continued to develop, its takings from other services remained the same as in 2018 at approximately VND3.25 trillion ($140.5 million).

The bank saw a 15 percent increase in total revenues to around VND21 trillion ($909.9 million). By the end of 2019, Techcombank’s total assets were worth VND383.7 trillion ($16.5 billion), up 20 percent year-on-year.

The bank's bad debt ratio decreased from 1.75 percent at the beginning of the year to 1.3 percent.