Techcombank

Techcombank's npls (as % of loans) fell 23.9% yoy to 1.33% in 4Q2019

By Helgi Analytics - March 4, 2020

Techcombank's non-performing loans reached 1.33% of total loans at the end of 2019-12-31, down from 1.75% compared to the previou...

Techcombank's net profit rose 34.4% yoy to VND 3,029 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank made a net profit of VND 3,029 bil under revenues of VND 8,003 bil in the fourth quarter of 2019, up 34.4% and 30...

Techcombank's net interest margin rose 11.1% yoy to 4.16% in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank's net interest margin amounted to 4.16% in the fourth quarter of 2019, up from 3.98% when compared to the previous q...

Profit Statement 2017 2018 2019
Net Interest Income VND bil 8,931 11,127 14,262
Net Fee Income VND bil 3,926 3,536 3,253
Other Income VND bil 4,443 6,116 7,802
Total Revenues VND bil 17,300 20,779 25,318
Staff Cost VND bil 2,595 3,240 4,262
Operating Profit VND bil 12,239 13,423 15,387
Provisions VND bil 3,609 1,846 917
Net Profit VND bil 6,446 8,463 10,075
Balance Sheet 2017 2018 2019
Interbank Loans VND bil 30,156 35,559 47,990
Customer Loans VND bil 158,964 157,554 227,885
Debt Securities VND bil 59,559 95,293 77,269
Total Assets VND bil 269,392 320,989 383,699
Shareholders' Equity VND bil 26,931 51,783 62,073
Interbank Borrowing VND bil 47,542 44,309 64,747
Customer Deposits VND bil 182,011 210,692 231,297
Issued Debt Securities VND bil 6,382 2,042 13,980
Ratios 2017 2018 2019
ROE % 27.7 21.5 17.7
ROA % 2.55 2.87 2.86
Costs (As % Of Assets) % 2.01 2.49 2.82
Costs (As % Of Income) % 29.3 35.4 39.2
Capital Adequacy Ratio % 12.7 ... ...
Net Interest Margin % 3.54 3.77 4.05
Loans (As % Of Deposits) % 87.3 74.8 98.5
NPLs (As % Of Loans) % 1.61 1.75 1.33
Provisions (As % Of NPLs) % 72.9 85.1 94.8
Valuation 2017 2018 2019
Market Capitalisation (End Of Period) USD mil ... 3,894 3,557
Share Price (End Of Period) VND ... 25,850 23,550
Price/Earnings (P/E) ... 9.60 8.17
Price/Book Value (P/BV) ... 1.57 1.33
Dividend Yield % ... 0 ...
Earnings Per Share (EPS) VND 2,573 2,692 2,881
Book Value Per Share VND 10,111 16,508 17,749
Dividend Per Share VND 0 0 ...

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summary Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                    
Net Interest Income VND bil                       4,353 5,876 7,219 8,143 8,931    
Total Revenues VND bil                       6,386 8,613 10,372 13,201 17,300    
Operating Profit VND bil                       2,705 4,241 6,204 8,261 12,239    
Net Profit VND bil                       659 1,082 1,529 3,149 6,446    
balance sheet                                    
Interbank Loans VND bil       ...               15,421 18,923 14,763 21,599 30,156    
Customer Loans VND bil       ...               69,089 79,348 110,461 141,121 158,964    
Debt Securities VND bil   ... ... ... ... ...           52,315 59,158 49,191 55,574 59,559    
Total Assets VND bil                       158,897 175,902 191,994 235,363 269,392    
Shareholders' Equity VND bil                       13,920 14,986 16,458 19,587 26,931    
Interbank Borrowing VND bil                       14,891 18,246 20,587 26,409 47,542    
Customer Deposits VND bil                       121,068 134,943 143,484 176,972 182,011    
Issued Debt Securities VND bil   ... ...                 4,952 4,293 7,385 7,405 6,382    
ratios                                    
ROE % ...                     4.84 7.49 9.73 17.5 27.7    
ROA % ...                     0.389 0.646 0.831 1.47 2.55    
Costs (As % Of Assets) % ...                     2.17 2.61 2.27 2.31 2.01    
Costs (As % Of Income) %                       57.6 50.8 40.2 37.4 29.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ...         14.0 15.7 15.8 13.1 12.7 ... ...
Net Interest Margin % ...                     2.57 3.51 3.92 3.81 3.54    
Interest Income (As % Of Revenues) %                       68.2 68.2 69.6 61.7 51.6    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ...         11.5 11.9 11.0 14.8 22.7    
Staff Cost (As % Of Total Cost) %                       37.7 37.2 45.5 46.9 51.3    
Equity (As % Of Assets) %                       8.76 8.52 8.57 8.32 10.00    
Loans (As % Of Deposits) %       ...               57.1 58.8 77.0 79.7 87.3    
Loans (As % Assets) %       ...               43.5 45.1 57.5 60.0 59.0    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...         3.65 2.38 1.67 1.58 1.61    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ...         46.2 50.1 62.5 66.6 72.9    
valuation                                    
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Number Of Shares (Average) mil ... ... ... ... ... ... ...         2,655 2,663 2,663 3,287 2,663    
Share Price (End Of Period) VND ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Earnings Per Share (EPS) VND ... ... ... ... ... ... ...         248 401 565 976 2,573    
Book Value Per Share VND ... ... ... ... ... ... ...         5,243 5,627 6,179 5,960 10,111    
Dividend Per Share VND ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Earnings Per Share Growth % ... ... ... ... ... ... ... ...       26.1 61.7 40.8 72.9 164    
Book Value Per Share Growth % ... ... ... ... ... ... ... ...       30.2 7.32 9.82 -3.55 69.7    
income statement Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
income statement                                    
Interest Income VND bil                       13,299 13,035 13,385 15,737 17,595    
Interest Cost VND bil                       8,946 7,159 6,166 7,594 8,664    
Net Interest Income VND bil                       4,353 5,876 7,219 8,143 8,931    
Net Fee Income VND bil ... ... ... ... ... ... ...         736 1,024 1,139 1,956 3,926    
Other Income VND bil ... ... ... ... ... ... ...         1,296 1,713 2,014 3,103 4,443    
Total Revenues VND bil                       6,386 8,613 10,372 13,201 17,300    
Staff Cost VND bil                       1,386 1,627 1,898 2,316 2,595    
Depreciation VND bil ... ... ... ... ... ... ... ...       189 161 160 152 151    
Other Cost VND bil ... ... ... ... ... ... ... ...       2,105 2,584 2,110 2,472 2,315    
Operating Cost VND bil                       3,680 4,372 4,168 4,940 5,061    
Operating Profit VND bil                       2,705 4,241 6,204 8,261 12,239    
Provisions VND bil                       1,414 2,281 3,624 3,661 3,609    
Extra and Other Cost VND bil                       414 543 543 603 594    
Pre-Tax Profit VND bil                       878 1,417 2,037 3,997 8,036    
Tax VND bil ...                     219 335 508 848 1,591    
Minorities VND bil       ... ... ...           0 0 0 0 0    
Net Profit VND bil                       659 1,082 1,529 3,149 6,446    
Dividends VND bil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
growth rates                                    
Net Interest Income Growth % ...                     -24.1 35.0 22.9 12.8 9.68    
Net Fee Income Growth % ... ... ... ... ... ... ... ...       30.2 39.1 11.2 71.7 101    
Total Revenue Growth % ...                     0.590 34.9 20.4 27.3 31.0    
Operating Cost Growth % ...                     3.66 18.8 -4.66 18.5 2.44    
Operating Profit Growth % ...                     -3.30 56.8 46.3 33.1 48.2    
Pre-Tax Profit Growth % ...                     1.76 61.5 43.8 96.2 101    
Net Profit Growth % ...                     1.46 64.3 41.3 106 105    
market share                                    
Market Share in Revenues % ... ... ... ... ... ...           3.61 4.66 4.98 5.53 ... ... ...
Market Share in Net Profit % ... ... ... ... ... ...           2.19 6.32 4.91 7.64 ... ... ...
balance sheet Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
balance sheet                                    
Cash VND bil                       5,122 3,892 5,432 5,491 6,624    
Interbank Loans VND bil       ...               15,421 18,923 14,763 21,599 30,156    
Customer Loans VND bil       ...               69,089 79,348 110,461 141,121 158,964    
Retail Loans VND bil ... ...   ... ... ... ...         22,852 30,903 49,570 61,644 64,777   ...
Corporate Loans VND bil ... ...   ... ... ... ...         47,372 49,286 61,895 80,658 96,071   ...
Debt Securities VND bil   ... ... ... ... ...           52,315 59,158 49,191 55,574 59,559    
Fixed Assets VND bil                       686 680 560 1,186 1,168    
Intangible Assets VND bil ...     ... ... ... ...         347 357 322 426 364    
Goodwill VND bil ... ... ... ... ... ... ...         0 0 0 29.6 19.8   ...
Total Assets VND bil                       158,897 175,902 191,994 235,363 269,392    
Shareholders' Equity VND bil                       13,920 14,986 16,458 19,587 26,931    
Of Which Minority Interest VND bil       ... ... ...           0 0 0 0 0    
Liabilities VND bil                       144,977 160,916 175,536 215,777 242,462    
Interbank Borrowing VND bil                       14,891 18,246 20,587 26,409 47,542    
Customer Deposits VND bil                       121,068 134,943 143,484 176,972 182,011    
Sight Deposits VND bil   ...   ... ... ... ...         17,695 19,897 26,787 35,827 38,235    
Term Deposits VND bil   ...   ... ... ... ...         102,043 112,941 114,147 137,576 140,768    
Issued Debt Securities VND bil   ... ...                 4,952 4,293 7,385 7,405 6,382    
Other Liabilities VND bil   ... ...                 4,066 3,434 4,080 4,991 6,527    
asset quality                                    
Non-Performing Loans VND bil ... ... ... ... ... ... ...         2,566 1,914 1,864 2,246 2,584    
Gross Loans VND bil ... ...   ... ... ... ...         70,275 80,308 111,626 142,616 160,849    
Total Provisions VND bil ... ... ... ... ... ... ...         1,186 960 1,164 1,495 1,885    
growth rates                                    
Customer Loan Growth % ...     ... ...             2.91 14.8 39.2 27.8 12.6    
Retail Loan Growth % ... ... ... ... ... ... ... ...       -17.6 35.2 60.4 24.4 5.08   ...
Corporate Loan Growth % ... ... ... ... ... ... ... ...       16.9 4.04 25.6 30.3 19.1   ...
Total Asset Growth % ...                     -11.7 10.7 9.15 22.6 14.5    
Shareholders' Equity Growth % ...                     4.74 7.66 9.82 19.0 37.5    
Customer Deposit Growth % ...                     4.15 11.5 6.33 23.3 2.85    
market share                                    
Market Share in Customer Loans %       ...               2.29 2.38 2.75 2.92 2.75 ... ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ... ...   1.57 1.48 1.54 1.67 ... ... ...
Market Share in Total Assets %                       2.90 2.92 2.75 2.90 2.79 ... ...
Market Share in Customer Deposits %                       3.28 3.16 2.84 2.98 2.67 ... ...
ratios Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
ratios                                    
ROE % ...                     4.84 7.49 9.73 17.5 27.7    
ROA % ...                     0.389 0.646 0.831 1.47 2.55    
Costs (As % Of Assets) % ...                     2.17 2.61 2.27 2.31 2.01    
Costs (As % Of Income) %                       57.6 50.8 40.2 37.4 29.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ...         14.0 15.7 15.8 13.1 12.7 ... ...
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... 10.0 8.20 8.70 ... ...
Net Interest Margin % ...                     2.57 3.51 3.92 3.81 3.54    
Interest Spread % ...                     2.11 3.11 3.61 3.48 3.19    
Asset Yield % ...                     7.85 7.79 7.28 7.36 6.97    
Cost Of Liabilities % ...                     5.74 4.68 3.67 3.88 3.78    
Payout Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0   ...
Interest Income (As % Of Revenues) %                       68.2 68.2 69.6 61.7 51.6    
Fee Income (As % Of Revenues) % ... ... ... ... ... ... ...         11.5 11.9 11.0 14.8 22.7    
Other Income (As % Of Revenues) % ... ... ... ... ... ... ...         20.3 19.9 19.4 23.5 25.7    
Cost Per Employee USD per month   ...   ... ... ...           754 860 960 1,125 1,101    
Cost Per Employee (Local Currency) VND per month   ...   ... ... ...           15,841,200 18,269,800 20,768,500 24,783,600 24,668,000    
Staff Cost (As % Of Total Cost) %                       37.7 37.2 45.5 46.9 51.3    
Equity (As % Of Assets) %                       8.76 8.52 8.57 8.32 10.00    
Loans (As % Of Deposits) %       ...               57.1 58.8 77.0 79.7 87.3    
Loans (As % Assets) %       ...               43.5 45.1 57.5 60.0 59.0    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...         3.65 2.38 1.67 1.58 1.61    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ...         46.2 50.1 62.5 66.6 72.9    
Provisions (As % Of Loans) % ... ... ... ... ... ... ...         1.72 1.21 1.05 1.06 1.19    
Cost of Provisions (As % Of Loans) % ...     ... ...             2.08 3.07 3.82 2.91 2.41    
other data Unit 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
other data                                    
Employees   ...   ... ... ...           7,290 7,419 7,616 7,787 8,766    
Sight (As % Of Customer Deposits) %   ...   ... ... ... ...         14.6 14.7 18.7 20.2 21.0    
Return on Loans % ...     ... ...             0.967 1.46 1.61 2.50 4.30    
Operating Profit (As % of Loans) % ...     ... ...             3.97 5.71 6.54 6.57 8.16    
Costs (As % Of Loans) % ...     ... ...             5.40 5.89 4.39 3.93 3.37    
Equity (As % Of Loans) %       ...               20.1 18.9 14.9 13.9 16.9    

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Techcombank's price/earnings (P/E) fell 32.2% yoy to 6.80 in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank stock traded at VND 23,550 per share at the end fourth quarter of 2019 implying a market capitalization of USD 3,557 mil. Since the end of 4Q2014, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the...

Techcombank's net interest income rose 31.9% yoy to VND 3,904 bil in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank generated total banking revenues of VND 8,003 bil in the fourth quarter of 2019, up 30.1% when compared to the same period of last year and 25.3% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

Techcombank's market capitalisation (end of period) fell 8.66% yoy to USD 3,557 mil in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank stock traded at VND 23,550 per share at the end of fourth quarter of 2019 implying a market capitalization of USD 3,557 mil. Over the last five years, the stock has appreciated by 0 implying an annual average growth of 0% In absolute terms, th...

Techcombank's equity (as % of assets) rose 0.280% yoy to 16.2% in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank's Equity reached 16.2% of total assets in the 4Q2019, up from 16.1% for the previous year. As a share of net customer loans, the ratio amounted to 27.2% at the end of the fourth quarter of 2019. ...

Techcombank's customer loan growth rose 5,131% yoy to 44.6% in 4Q2019

By Helgi Analytics - March 1, 2020

Techcombank's customer loan growth reached 44.6% in 2019-12-31, up from -0.887% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 44.6% in 2019-12-31 and an all time low of -0.887% in 2018-12-31. In the last ...

Techcombank's net profit rose 19.1% yoy to VND 10,075 bil in 2019

By Helgi Analytics - March 1, 2020

Techcombank made a net profit of VND 10,075 bil in 2019, up 19.1% compared to the previous year. This implies a return on equity of 17.7%. Historically, the bank’s net profit reached an all time high of VND 10,075 bil in 2019 and an all time low of VND 30.4...

Techcombank's npls (as % of loans) fell 23.9% yoy to 1.33% in 2019

By Helgi Analytics - March 1, 2020

Techcombank's non-performing loans reached 1.33% of total loans at the end of 2019, down from 1.75% compared to the previous year. Historically, the NPL ratio hit an all time high of 3.65% in 2013 and an all time low of 1.33% in 2019. Provision coverage amo...

Techcombank's net interest margin rose 7.39% yoy to 4.05% in 2019

By Helgi Analytics - March 1, 2020

Techcombank's net interest margin amounted to 4.05% in 2019, up from 3.77% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.05% in 2019 and an all time low of 2.32% in 2003. The average margin in ...

Techcombank's net interest income rose 28.2% yoy to VND 14,262 bil in 2019

By Helgi Analytics - March 1, 2020

Techcombank generated total banking revenues of VND 25,318 bil in 2019, up 21.8% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of VND 25,318 bil in 2019 and an...

Techcombank's customer loan growth rose 5,131% yoy to 44.6% in 2019

By Helgi Analytics - March 1, 2020

Techcombank's customer loan growth reached 44.6% in 2019, up from -0.887% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 136% in 2007 and an all time low of -0.887% in 2018. In the last decade, the average...

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