Replying to shareholders’ questions, Anh said shares issued to strategic shareholders always have higher value than share prices in the stock market. “VPBank last year also issued shares to its Japanese partner SMBC, which brought high value to its shareholders. Techcombank is also seeking such an opportunity,” Anh said.

He said that when the market becomes bustling again, more opportunities will occur to cooperate with partners, which will bring higher value to shareholders. 

Asked about business results of the first quarter, Techcombank said it would officially release its financial report in several days. 

“The business has been going well as scheduled. The profit in the first quarter was very good and it exceeded the targeted figure,” Anh said. “With plans designed in a cautious way for this year, we believe the bank’s business results will be much higher than planned."

The shareholders’ meeting approved the 2024 business plan. The outstanding loans are expected to reach VND616.031 trillion, up 16.2 percent (as approved by the State Bank of Vietnam); total deposits are expected to match the real credit growth rate to optimize the balance sheet (the figure was VND507.157 trillion in 2023, up 34.3 percent), pre-tax profit would be around VND27.1 trillion, up 18.4 percent, and non-performing loans would be lower than 1.5 percent.

According to Anh, the plan was drawn up with caution as internal and international conditions show difficulties.

Techcombank plans to focus on increasing CASA (Current Account Savings Account); diversifying its credit portfolio; and enhancing MOA transactions with individual and institutional clients.

Techcombank has great advantages over other banks as it leads in CASA, which allows it to mobilize capital at low costs. To continue to increase CASA, the bank will accelerate the launch and adoption of differentiated customer value propositions.

In early 2024, Techcombank began a new product for all clients called Auto Earning, which allows customers to optimize the use of idle cash and earn better profits by activating the auto earning mode on the Techcombank Mobile app.

The bank will also continue to expand the one-touch payment T-Pay, to be applied at over 3,600 Winlife stores nationwide, for all clients in an all-in-one Winlife ecosystem.

Tuan Nguyen