Vietnam Technological and Commercial Joint Stock Bank (Techcombank – HoSE: TCB) has just announced its consolidated financial report for the third quarter of 2023.
Accordingly, the bank's net interest income recorded a decrease of 3.8% compared to the same period in 2022 to VND 7,272 billion. In addition, Techcombank's service income in the first 9 months of 2023 increased by 9.2% compared to the same period last year. In the third quarter of 2023 alone, service income increased by 11% compared to the same period, to VND 3,008.7 billion.
The bank recorded net profit from service activities of VND 2,256 billion, up 11.7% over the same period in 2022. Profit from foreign exchange trading reached VND 123.8 billion and from trading investment securities reached VND 635 billion. In addition, the bank also recorded a loss of VND 5.6 billion from trading trading securities. As a result, pre-tax profit in the third quarter of 2023 was VND 5,843 billion; after-tax profit reached VND 4,669 billion.
In the first 9 months of the year, Techcombank's net interest income reached VND20,100 billion, down 14.4% year-on-year. The bank's pre-tax profit reached VND17,115 billion, down 17.8% year-on-year, with after-tax profit decreasing by VND3,155 billion to VND13,709 billion.
Notably, Techcombank's net cash flow during the period decreased sharply from VND35,951 billion in 2022 to negative VND5,100 billion. Of which, operating cash flow was negative VND2,207 billion and investment cash flow was negative VND2,894 billion.
As of September 30, 2023, Techcombank's total assets reached nearly VND 781,300 billion, up 11.8% compared to the beginning of the year. For the Bank alone, credit grew 11.4% compared to the beginning of the year, reaching VND 495,400 billion.
In terms of capital, customer deposits reached VND409,044 billion, up 14.1% compared to the end of 2022 and 7.1% compared to the previous quarter. CASA balance increased for the second consecutive quarter to VND137,600 billion, up 3.2% compared to the second quarter of 2023 with retail CASA increasing 4.9% compared to the same period last year.
On the other hand, term deposits increased again, reaching VND271,464 billion, up 9.2% compared to the previous quarter and 20.1% compared to the beginning of the year. Therefore, the CASA ratio in the third quarter stood at 33.6%.
Techcombank's total liabilities at the end of September increased slightly by 11.6% over the same period to VND654,149 billion, customer deposits increased by only 6.4% to VND381,936 billion, the remaining VND153,625 billion was deposits and loans to economic organizations.
Regarding debt quality, Techcombank's total bad debt at the end of September 2023 was VND 6,466 billion, double that at the end of 2022. Notably, substandard debt (group 3 debt) increased by 166.9%, from VND 902 billion at the end of 2022 to more than VND 2,406 billion; doubtful debt (group 4 debt) increased by 100.7% to nearly VND 2,270 billion.
In the market, in the morning trading session of October 24, TCB shares were fluctuating around the price of 31,350 VND/share with trading liquidity of nearly 1 million units .
Thu Huong
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