Techcombank named Vietnam’s Best Bank again
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Techcombank has been named Vietnam’s Best Bank as well as Best Bank for Corporates at this year’s Euromoney Awards for Excellence.
Techcombank has been named Best Bank in Vietnam 2024 by three international finance publications: Euromoney, Finance Asia, and Global Finance, becoming the only Vietnamese bank to ever win all three prestigious awards in the same year.
In June, the bank was also named Number 1 Bank in Vietnam in the World’s Best Banks 2024 rankings by Forbes Magazine, based on an extensive survey of customer opinion.
Jens Lottner, CEO of Techcombank, said that this is an unprecedented achievement.
“These awards are testament to the success of the bank’s customer-centric strategy, the quality of its advanced data capabilities and digital infrastructure, and the unwavering commitment to excellence throughout the organization,” Lottner said. “Together, these pillars have firmly established Techcombank as one of the strongest banking platforms in Asia.”
The Euromoney Awards for Excellence are widely considered to be one of the most prestigious accreditations in the banking industry and a strong and independent endorsement of excellence and achievement.
Banks from over 100 countries entered the Awards for Excellence in 2024, and the best banks in each market were carefully selected by Euromoney’s independent team of editors and analysts.
Techcombank has now won the Euromoney award for Vietnam’s Best Bank for an unprecedented fifth time, more than any other lender in Vietnam.
This year’s award recognized Techcombank for its strong financial performance and profitability in 2023, achieved despite economic headwinds and proving the resilience of Techcombank’s business model.
“Techcombank further solidified its leadership in Vietnam’s banking sector in 2023,” acknowledged Lousie Bowman, Euromoney Editor.
Techcombank’s sustained profitability, robust asset quality, and balance sheet strength have enabled it to pay a cash dividend of VND1,500 per share to its shareholders in Q2 2024, one of the highest cash dividends in the industry.
The award also acknowledged the bank’s focus on customer-centricity and its role as an industry pioneer through the launch of innovative digital and data-led solutions for individual, business, and corporate customers.
For example, its new auto-earning solution enables individual customers to generate profit from their idle cash; Techcombank Merchant is a holistic solution designed to empower Vietnam’s many merchants to run and grow their businesses; and the new C-Cash solution helps Vietnam’s largest corporations uplift their treasury management to a world-class level.
“Together, these pillars have firmly established Techcombank as one of the strongest banking platforms in Asia.”
The quality of Techcombank’s suite of payments and collections, cash and treasury management, and FX solutions for SME and corporate customers was given special recognition with the Best Bank for Corporates honor in 2024.
Techcombank has broadly applied data analysis and AI across the bank, and most major systems have been transitioned to the cloud.
This was acknowledged by the Euromoney Best Bank in Vietnam award to put Techcombank years ahead of its competitors in Vietnam and to enable the bank to leverage its best-in-market digital platforms and data and AI capabilities to create more meaningful and more personalized experiences for customers than ever.
“The bank’s key differentiator is its digital capability. Techcombank’s apps have received the market’s highest customer rating,” said Bowman of Euromoney.
This rating is due to the smooth and personalized experiences that customers can enjoy when using the Techcombank Mobile app.
For example, the bank is helping customers improve their financial awareness by providing personalized financial management advice and insights via the app, which enable them to enjoy their money and save for the future.
Techcombank has already delivered over 52 million personalized pieces of financial advice to more than 4 million customers since the experience was launched.
Another example is Techcombank’s new loyalty ecosystem, available through the app, and offering rewards and experiences tailored to individual customer preferences and lifestyles.
It is already one of the largest and most diverse loyalty programs in the Vietnamese banking industry, encompassing over 19,000 points of sale with over 300 brands, where customers can earn reward points.
The bank’s commitment to ESG excellence and to making a positive social and environmental contribution to Vietnam was also noted by Euromoney.
In 2023, it provided more green credit to sustainability projects in Vietnam than ever before, while also supporting social initiatives with donations reaching VND148 billion (US$5.84 million) and promoting healthy living and physical fitness through support for the Hanoi and HCMC Techcombank marathons.
“We are proud and humble to have been named Best Bank in Vietnam by Euromoney for a record fifth time,” Lottner said.
“But this achievement is just the beginning of a new period of growth. We are now ready to accelerate and to leverage our digital platforms and data and AI capabilities to create more meaningful experiences for our customers and grow our business faster and more profitably than any other bank in Vietnam.”
Questions & Answers
Q.What specifically contributed to Techcombank being named Best Bank for Corporates?
What specifically contributed to Techcombank being named Best Bank for Corporates?
The bank's quality suite of payments and collections, cash and treasury management, and FX solutions for SME and corporate customers received special recognition, leading to this award.
Q.What new digital solutions has Techcombank introduced for its customers?
What new digital solutions has Techcombank introduced for its customers?
They launched an auto-earning solution for individual customers, Techcombank Merchant for businesses, and C-Cash for large corporations to improve treasury management.
Q.How did Techcombank achieve strong financial performance in 2023 despite economic challenges?
How did Techcombank achieve strong financial performance in 2023 despite economic challenges?
Their strong financial performance and profitability in 2023 were attributed to the resilience of their business model, robust asset quality, and sustained profitability.
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