In an interview on CNBC TV on October 10, Techcombank CEO Jens Lottner was quite certain that Techcombank could end 2024 even higher, as the bank is experiencing very good growth results.

“Techcombank has been growing at 20% over the past few years. In the first half of 2024, we were at 11, 12%, while the rest of the industry was around 6%,” said Jens Lottner.

techcombank.jpg

In addition to Real Estate, Mr. Jens Lottner also directed the bank to invest more in the tourism and entertainment sector in the coming time. According to his analysis, "all sectors are often driven by domestic consumption, not by exports. Because over time, exports may decrease as the domestic economy grows."

Explaining why Techcombank has achieved such impressive milestones, Jens Lottner, who has a long history of advising global brands, emphasized the power of daring to bet on technology. “Techcombank has invested $500 million to upgrade its technology, along with a lot of money to invest in the Bank’s data. If you compare where we were four years ago with where we are now in terms of data, or compared to familiar names, I think our standards are probably not just in ASEAN but also global standards,” he said.

By combining cutting-edge advances in technology such as Big Data, Cloud Computing and Artificial Intelligence (AI), Techcombank predicts customer behavior and needs in their financial journey, developing appropriate product packages to reach the right target customers.

“What is special is that Techcombank can deploy Generative AI and other modern technologies in a very different way from banks that are operating on legacy technology systems. Even when working with big names in the industry, Techcombank does not need to use the information they provide, because we have stored it all centrally; and we only need to connect to their systems!”, said the CEO.

According to CEO Jens Lottner, Techcombank currently stores 5 billion data points every day and each customer is defined by about 7,000 attributes; this number increases every day. Emphasizing the importance of Techcombank's data warehouse, he affirmed: It is data that brings the greatest efficiency, allowing Techcombank to make a clear difference in personalization, improve productivity and many other achievements, far beyond conventional technology.

(Source: CNBC)

Techcombank is one of the largest joint stock banks in Vietnam with a vision to transform the financial industry and enhance the value of life. As a bank focusing on providing retail and corporate banking solutions, Techcombank currently serves more than 14.8 million customers through its digital banking platform, mobile applications, and nationwide branch network.

In the first 9 months of 2024, Techcombank recorded outstanding business growth with indicators maintained in the group of top-performing banks in the market. Net interest income reached VND 26,900 billion, up 33.9% over the same period last year. NIM (12-month trailing) remained at 4.3%, equivalent to the previous quarter and higher than the same period last year. Service income also recorded an increase of 17.1%, reaching VND 8,300 billion.

In particular, investment banking service fees increased by 110.6%, reaching VND2,541 billion.

As of the end of September 2024, Techcombank's total assets reached VND 927,100 billion, an increase of 9.1% over the beginning of the year.

Techcombank is rated AA- by FiinRatings, Ba3 by Moody's, BB- by S&P.