Techcombank named Best Bank in Vietnam by Global Finance

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 recognised endorsement of achievement and quality.

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

Techcombank was named the ‘Best Bank in Vietnam’ in recognition of its consistent excellence across financial and operational performance, customer offerings and experiences, technology innovation, 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 its leading position in the industry in terms of average return on assets (ROA) over the past five years.

The award also recognised Techcombank’s outstanding efforts to build up one of the most diverse, skilled, and engaged workforces in the Asian banking industry.

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 AI to deliver better, more personalised customer experiences.

Thanks to continuous efforts, Techcombank has become one of the most digitalised banks in the world.

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

“Banking has reached another watershed moment with the debut of generative AI, 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 recognise the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.”

The award also recognised Techcombank’s outstanding efforts to build up one of the most diverse, skilled, and engaged workforces in the Asian banking industry.

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

These strong results place Techcombank in the top 9 per cent of companies in Asia Pacific for employee effectiveness and the top 14 per cent for engagement and enablement.

This demonstrates that Techcombank 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 organisation, and dare to step out of their comfort zone for self-development.

“We are honoured to be recognised 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 that we do,” said Jens Lottner, CEO of Techcombank. “With our customer-centric strategy, empowered by our established market-leading digital capabilities, the bank has delivered on its vision to 'Change Banking, Change Lives', and is now ready to reach for even greater heights in the years to come.”

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 surpassing $6 million and promoting healthy living and physical fitness through support for the Hanoi and Ho Chi Minh City Techcombank marathons.

Jens Lottner, CEO of Techcombank, revealed the bank's readiness to entice more foreign investors to support its strategy for long-term partnerships in a Bloomberg TV interview on November 13.

Vietnam is in the process of formulating policies to develop green finance markets. Nguyen Ba Hung, principal country economist from the Asian Development Bank in Vietnam, spoke to Thanh Tung about the opportunities and challenges of green finance development in the country, and policy recommendations.

The credit rating organisation Moody's on March 20 updated the outlook for Technological and Commercial Joint Stock Bank (Techcombank) to Stable.