Techcombank named Best Bank in Vietnam by Global Finance

April 11, 2024 | 01:30 am PT
Global Finance has recognized Techcombank for excellence across financial performance, balance sheet strength, customer offerings, and digital, data, and talent.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) was named the Best Bank in Vietnam by U.S.-based financial publication Global Finance at its 31st annual awards for the World’s Best Banks for its consistent excellence across financial and operational performance, customer offerings and experiences, technology innovation and infrastructure, and positive environmental and social impact.

In 2023, Techcombank achieved industry-leading profitability and balance sheet strength while continuing to apply a laser-sharp focus on meeting customers’ needs. The bank has maintained the leading position in the industry in terms of average return on assets (ROA) over the past 5 years.

Employees and customers seen at a Techcombank branch. Photo courtesy of Techcombank

Employees and customers seen at a Techcombank branch. Photo courtesy of Techcombank

Along with outstanding business results, Techcombank launched cutting-edge customer value propositions, such as its unique Auto-Earning solution, further enhanced its top-rated mobile banking apps for retail and business customers and deepened its use of cloud-based data analysis and artificial intelligence to deliver better, more personalized customer experiences, including to help customers manage their finances.

Thanks to its continuous efforts, it has become one of the most digitalized banks in the world.

About 96% of the bank's retail banking transactions are performed online, and the bank's digital banking platform receives an average of 50 logins per customer each month.

"Banking has reached another watershed moment with the debut of generative artificial intelligence, which promises to rewrite the industry playbook," said Joseph D. Giarraputo, founder and editorial director of Global Finance.

"In this ever-changing environment, the Best Bank Awards recognize the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation."

The award also recognized Techcombank’s outstanding efforts to recruit and develop the best Vietnamese and international talent, building over the years one of the most diverse, most skilled, and most engaged workforces in the Asian banking industry.

In Techcombank’s 2023 Employee Engagement Survey (EES), the bank scored 82% for employee engagement, 87% for employee enablement, and 77% for employee effectiveness.

These results place Techcombank in the top 9% of companies in the Asia-Pacific region for employee effectiveness and in the top 14% for engagement and enablement.

This demonstrates that the bank is headed in the right direction, building a strong culture with capable and highly engaged people who share the same values, are loyal to the organization, and dare to step out of their comfort zone for self-development.

Techcombank’s headquarters in Hanoi. Photo courtesy of Techcombank

Techcombank’s headquarters in Hanoi. Photo courtesy of Techcombank

Jens Lottner, CEO at Techcombank, said the bank was honored to be recognized as the Best Bank in Vietnam by Global Finance for the first time.

Despite economic headwinds, Techcombank has achieved a new level in terms of sustained balance sheet strength, asset quality, and profitability while continuing to place customer needs at the heart of everything they do.

"Our customer-centric strategy, empowered by our established market-leading digital capabilities, delivered on its vision to 'change banking, change lives' and is now ready to reach even greater heights in the years to come," said Lottner.

Techcombank’s commitment to delivering long-lasting economic, environmental, and social benefits to Vietnam and uplifting its customers and the community to reach their full potential was also acknowledged by Global Finance.

In 2023, the bank provided more green credit to sustainability projects in Vietnam than ever before, while also supporting social initiatives with donations reaching nearly US$5.93 million and promoting healthy living and physical fitness through support for the Hanoi and HCMC Techcombank marathons.

The Global Finance World's Best Banks Awards are widely regarded as one of the most prestigious awards in the global banking industry and an internationally recognized endorsement of achievement and quality.

Winners are selected by the editors of Global Finance after extensive consultations with corporate financial executives, bankers, banking consultants, and analysts throughout the world.

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